Upstart Holdings, Inc.
Upstart Holdings, Inc. Corrects Q4 2024 Financial Results
Summary
On February 11, 2025, Upstart Holdings, Inc. amended its Current Report on Form 8-K to correct its financial results for Q4 2024. The corrected diluted adjusted net income per share is $0.29 and the corrected diluted weighted-average common shares outstanding is 103,118,327 for Q4 2024. The correction has no impact on the Company's financial outlook for Q1 2025. A corrected investor presentation was posted on the Company's investor relations website on February 13, 2025.
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About Upstart Holdings, Inc.
Upstart Holdings, Inc. is a financial technology company that operates an artificial intelligence (AI)-driven lending platform. This platform’s primary function is to assess and automate the borrowing process, thereby enhancing the efficiency and accessibility of personal loans. By leveraging a sophisticated AI model, Upstart aims to provide a more accurate assessment of a borrower’s creditworthiness compared to traditional credit scoring methods. This approach allows for broader criteria in the underwriting process, which can lead to improved access to credit for individuals who might otherwise be overlooked. Upstart partners primarily with banks and credit unions, facilitating loans that often come with competitive rates due to the company’s innovative risk assessment capabilities. Headquartered in San Mateo, California, and founded in 2012, Upstart Holdings plays a significant role in the fintech industry by bridging the gap between consumers in need of loan products and financial institutions seeking to optimize their lending processes. Its platform highlights the potential for AI to transform financial services, impacting a range of sectors from consumer finance to banking infrastructure.
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