Upstart Holdings, Inc. announced robust financial results for the fourth quarter and full year ended December 31, 2024. For Q4 2024, total revenue reached $218.964 million, a substantial increase from $140.312 million in the prior year period.
The company significantly narrowed its GAAP net loss to $(2.755) million in Q4 2024, compared to $(42.398) million in Q4 2023. Adjusted EBITDA for the quarter was $45.9 million, a strong rebound from $(10.4) million in the previous year.
Key operating metrics showed strong momentum, with transaction volume in dollars increasing to $2.107 billion from $1.253 billion, and the number of loans growing to 245,663 from 129,664. The conversion rate improved to 19.3% from 11.6%, and 91% of loans were fully automated.
For the full year 2024, total revenue was $636.528 million, up from $513.562 million in 2023, and Adjusted EBITDA was $45.5 million, a significant improvement from $(105.1) million. Upstart projects full-year 2025 total revenues of approximately $900 million and anticipates achieving at least breakeven GAAP net income.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.