Upstart Beats Expectations in a Challenging Macro Environment. What It Means for Investors

Upstart Holdings beat Q3 earnings expectations with 34% revenue growth to $370.5M and record contribution profit of $218M, up 48% YoY. The company raised full-year revenue guidance but cut EBITDA guidance due to macro headwinds. Secured loan originations surged 194% and achieved positive contribution margin ahead of schedule, though sequential loan originations declined. Despite macro challenges, Upstart maintains its 35% compound annual revenue growth target through 2028.