UPST achieved a dramatic turnaround from -$128.6M net loss to $53.6M profit while growing revenue 64% to $1B, but operating cash flow swung negative by $334M.
This represents a remarkable financial transformation with the company reaching profitability and significant scale growth. However, the massive deterioration in operating cash flow despite strong earnings suggests potential working capital issues or changes in business model timing that warrant close scrutiny.
UPST delivered exceptional growth with revenue jumping 64% to $1B and achieving a complete earnings turnaround from -$128.6M loss to $53.6M profit, while net interest income surged 412% indicating expanded balance sheet lending activities. The company strengthened its balance sheet with 26% growth in stockholders' equity to $798.8M and proportional asset/liability expansion. However, the dramatic swing from $186.3M positive to -$147.7M negative operating cash flow despite strong profitability signals potential working capital pressures or business model changes that investors should monitor closely.
Net interest income grew 411.7% — benefiting from rate environment or loan book expansion.
Interest expense surged 221.8% — significant debt increase or rising rates materially impacting earnings.
Operating cash flow fell 179.3% — earnings quality concerns; investigate working capital changes and non-cash items.
Net income grew 141.7% — bottom-line growth signals improving overall business health.
Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.
Strong top-line growth of 64% — accelerating demand or successful expansion into new markets.
Capex reduced 58.5% — investment cycle winding down or capital discipline; may improve near-term free cash flow.
Equity base grew 26.2% — retained earnings accumulation or equity issuance strengthening the balance sheet.
Asset base grew 25.7% — expansion through organic growth, acquisitions, or capital deployment.
Liabilities increased 25.5% — monitor debt-to-equity ratio and interest coverage.
See what changed in your portfolio's filings
500+ US-listed companies analyzed. Language delta, financial analysis, instant signal scoring.
Try Tracenotes free →