Latest news with #DaveGirouard
Yahoo
a day ago
- Business
- Yahoo
Upstart CEO to Participate in Fireside Chat at the Goldman Sachs Communacopia and Technology Conference 2025
SAN MATEO, Calif., August 19, 2025--(BUSINESS WIRE)--Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced that Dave Girouard, Co-founder and CEO, will participate in a fireside chat at the Goldman Sachs Communacopia and Technology Conference on Monday, September 8 at 10:10am PT (1:10pm ET). A live audio webcast of the event will be available on Upstart's investor relations website at A replay of the webcast will be available for a limited period of time following the event. About Upstart Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart's AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart's platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small-dollar "relief" loans. Upstart is based in San Mateo, California. View source version on Contacts Investors Sonya Banerjeeir@ Press Chantal Rapportpress@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Globe and Mail
a day ago
- Business
- Globe and Mail
Upstart CEO to Participate in Fireside Chat at the Goldman Sachs Communacopia and Technology Conference 2025
Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced that Dave Girouard, Co-founder and CEO, will participate in a fireside chat at the Goldman Sachs Communacopia and Technology Conference on Monday, September 8 at 10:10am PT (1:10pm ET). A live audio webcast of the event will be available on Upstart's investor relations website at A replay of the webcast will be available for a limited period of time following the event. About Upstart Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart's AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart's platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small-dollar 'relief' loans. Upstart is based in San Mateo, California.
Business Wire
a day ago
- Business
- Business Wire
Upstart CEO to Participate in Fireside Chat at the Goldman Sachs Communacopia and Technology Conference 2025
SAN MATEO, Calif.--(BUSINESS WIRE)--Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced that Dave Girouard, Co-founder and CEO, will participate in a fireside chat at the Goldman Sachs Communacopia and Technology Conference on Monday, September 8 at 10:10am PT (1:10pm ET). A live audio webcast of the event will be available on Upstart's investor relations website at A replay of the webcast will be available for a limited period of time following the event. About Upstart Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart's AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart's platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small-dollar 'relief' loans. Upstart is based in San Mateo, California.
Yahoo
06-08-2025
- Business
- Yahoo
Upstart returns to profitability in second quarter
Online lending platform Upstart Holdings became profitable again due to higher loan origination volumes. At the same time, the company has been investing in AI and expanding its consumer credit products. Upstart, an online lending platform that serves over 3 million borrowers, reached $5.6 million in net income this quarter, a 110% improvement from the $54.5 million loss reported this time last year. It's the first time the company has reported positive income since 2022. The lender also reported $257.3 million in revenue, a 101.6% increase from the prior year. "In addition to achieving triple-digit revenue growth, we reached GAAP profitability a quarter sooner than expected," Upstart CEO Dave Girouard said in the company earnings call. Similarly, diluted earnings per share hit $0.05, a 108% increase from the -$0.62 EPS reported in the second quarter of 2024. Driving the strong earnings report was the $2.8 billion of loan originations Upstart brought in, the lender's highest origination volume for a single quarter in three years. Paul Gu, Upstart co-founder and chief technology officer, emphasized the online lender's investment in AI this year and championed it as a factor in the company's growth. "We made strong progress in Q2 generalizing our AI technology across product verticals," Gu said in the earnings call. "Even with accelerating growth in new products, our share of fully automated loans actually kept up this quarter." About 92% of the company's loans are currently fully automated with no human intervention, according to a company earnings presentation. In Upstart's first investor day held in May 2025, which it called "AI Day," the company emphasized to its investors various plans to incorporate AI into employee workflow and consumer products. "One of our key priorities in 2025 is to 10x our leadership in AI," Gu said in the earnings call. "We continue to have a robust pipeline of modeling wins, and I'm incredibly proud of the team and what we've been able to accomplish so far with that." A Jeffries analyst report said that the quarter "showed good patterns on volumes with a rising conversion rate driving $2.8 billion of loan volume, ahead of consensus but modestly short of the 'whisper #' of $3.1 billion." A "whisper number" is an unofficial earnings prediction that can circulate among Wall Street brokers and investors separately from official consensus estimates for a publicly traded company. Upstart increased its revenue outlook for the full fiscal year from $1.01 billion to $1.055 billion, and its net income guidance from a general "positive" prediction to a specific number outlook of $35 million. The lender is also taking a conservative stance on the impacts of macroeconomic conditions on the latter half of the year and "roughly expects the status quo," according to chief financial officer Sanjay Datta. Analysts on the call pushed against this stance with several questions about the lower-than-expected jobs report released last week and the potential of future interest rate cuts, even as Federal Reserve chair Jerome Powell is currently holding interest rates steady. "We plan for no real cuts in interest rates in the market," Datta said in response to an analyst question. "There's a lot of speculation around what that might look like for the rest of the year, but we certainly don't bank on anything in that regard." Upstart is also expecting a resilient labor market, according to Datta. "Notwithstanding the noise of the last week or so, we think the labor market continues to be in relatively good shape in terms of how many open jobs there are out there versus how many people are seeking jobs," he said. "That's the totality of the macro assumptions that go into our planning." Jeffries analysts noted that Upstart's third-quarter outlook changes were set above what they had expected. "FY25 guidance was [also] adjusted moderately up, which we believe may fall short of expectations considering momentum," the Jeffries report said. Shares in Upstart fell by 19% in trading on Wednesday. A Citizens analyst report on Upstart's earnings said that the firm would "remain neutral on the stock, as we believe that the valuation already captures a significant degree of the expectations for recovering volumes and margins; the near-record-high conversion rate within a more competitive lending landscape raises the credit risk profile; and we would like greater visibility into stable and permanent funding sources for new products." Sign in to access your portfolio
CNBC
06-08-2025
- Business
- CNBC
Upstart CEO: AI-powered lending creates far better product for consumer
Dave Girouard, Upstart co-founder and CEO, joins CNBC's 'Squawk on the Street' to discuss the company's most recent quarter.
