Following the release of its earnings report, Upstart Holdings, Inc. (NASDAQ: UPST) stock price had a significant after-hours boom. That caused UPST shares to rise 25.99% on the charts to $84.84. The financial technology firm reported notable improvements in both quarterly and annual earnings, highlighting robust expansion across its product categories.
Impressive Quarterly Growth and Annual Performance
Upstart showed significant growth in the fourth quarter of 2024, achieving Adjusted EBITDA numbers that had not been seen since early 2022 and coming close to GAAP profitability. Its total revenue for Q4 2024 rose by an impressive 56% year-over-year (YoY) to $219 million, while annual revenue saw a 24% increase, reaching $637 million. The company originated 245,663 loans in the quarter, amounting to a total loan volume of $2.1 billion—marking a 68% YoY rise.
Adjusted EBITDA for the quarter experienced a significant jump to $38.8 million from just $0.6 million in the previous year. Meanwhile, annual adjusted EBITDA turned positive, rising to $10.6 million from a negative $17.2 million in 2023.
Bullish Performance Rating
UPST has a Bullish performance rating on our ST screener with an ST score of 40. To learn about better-performing peer stocks within the Financial Services sector that have higher ST scores, visit the ST screener link.
Upstart Strengthens Auto Retail Platform
In addition to its financial achievements, UPST introduced a comprehensive set of enhancements to its Auto Retail platform. These upgrades aim to improve dealership efficiency by streamlining sales processes, optimizing financing workflows, and accelerating deal closures.
As consumer confidence rebounds and vehicle sales gain momentum, the majority of car buyers still prefer in-person transactions. Its latest financing solutions empower dealerships to provide a seamless in-store experience, helping them manage sales more effectively while increasing profit margins.
Enhancing the Car-Buying Experience
Upstart Auto Retail’s new features have significantly refined dealership operations, improving both sales efficiency and financing accessibility for consumers. By optimizing the desking and financing processes, UPST ensures a frictionless car-buying experience—from initial browsing at home to finalizing a purchase in the showroom.
With these innovations, Upstart continues to strengthen its position in the financial services sector, providing modern, AI-powered solutions that cater to both dealerships and customers alike.