All,
[https://ir.upstart.com/news-releases/news-release-details/upstart-announces-fourth-quarter-and-full-year-2024-results](https://ir.upstart.com/news-releases/news-release-details/upstart-announces-fourth-quarter-and-full-year-2024-results)
# Upstart (UPST) Q4 CY2024 Highlights:
* **Revenue:** $219 million vs analyst estimates of $182.4 million (56.1% year-on-year growth, 20.1% beat)
* **Adjusted EPS:** $0.26 vs analyst estimates of -$0.04 (significant beat)
* **Adjusted Operating Income:** $121.9 million vs analyst estimates of -$35.49 million (55.7% margin, significant beat)
* Management’s **revenue guidance** for the upcoming financial **year 2025** is $1 billion at the midpoint, beating analyst estimates by 21.5% and implying 57.1% growth (vs 23.7% in FY2024)
* **EBITDA guidance for Q1 CY2025** is $27 million at the midpoint, above analyst estimates of $9.53 million
* **Operating Margin:** \-2.2%, up from -33.9% in the same quarter last year
* **Free Cash Flow** was -$114.3 million, down from $158.1 million in the previous quarter
* **Market Capitalization:** $6.47 billion
“In Q4 of 2024, our business grew dramatically across all product categories, delivered Adjusted EBITDA at levels not seen since the first quarter of 2022, and came within a whisker of returning to GAAP profitability,” said Dave Girouard, co-founder and CEO of Upstart.
**Financial Outlook**
For the first quarter of 2025, Upstart expects:
* **Revenue** of approximately $200 million
* **Revenue From Fees** of approximately $185 million
* **Net Interest Income (Loss)** of approximately $15 million
* **Contribution Margin** of approximately 57%
* **GAAP Net Income (Loss)** of approximately ($20) million
* **Adjusted Net Income (Loss)** of approximately $16 million
* **Adjusted EBITDA** of approximately $27 million
* **Basic Weighted-Average Share Count** of approximately 95 million shares
* **Diluted Weighted-Average Share Count** of approximately 105 million shares
For full year 2025, Upstart expects:
* **Revenue** of approximately $1 billion
* **Revenue From Fees** of approximately $920 million
* **Net Interest Income (Loss)** of approximately $80 million
* **Adjusted EBITDA Margin** of approximately 18%
* **GAAP Net Income** to be at least breakeven
Thoughts? Upstart is making a very strong comeback in the current economic conditions with high interest rates and lower rates would only provide tailwinds to their growth trajectory.
Note: Have a long position in Upst (> 300 stocks)