Upstart Holdings, Inc. ( UPST ) released its first-quarter results after Tuesday's closing bell. Here's a look at the key figures from the quarter.

The Details: Upstart reported quarterly earnings of 30 cents per share, which beat the analyst consensus estimate of 17 cents. Quarterly revenue came in at $213.37 million, which beat the consensus estimate of $199.49 million and is up from revenue of $127.79 million from the same period last year.

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Upstart reported transaction volume of 240,706 loans originated, up 102% year-over-year, reflecting a 19.1% conversion rate. Total originations exceeded $2.1 billion, up 89% year-over-year.

“With an unparalleled pace of innovation, we continue to raise the bar in AI-enabled lending,” said Dave Girouard, CEO of Upstart. “In this foundational aspect of our economy, AI is clearly living up to its promise of delivering a radically better product for consumers.”

Outlook: For the second quarter of 2025, Upstart expects revenue of approximately $225 million and

revenue from fees of approximately $210 million. For full-year 2025, Upstart now expects revenue of approximately $1.01 billion and revenue from fees of approximately $920 million.

The company will host a conference call to discuss the results on Wednesday at 11:30 a.m. ET.

UPST Price Action: According to data from Benzinga Pro, Upstart stock was down 15.95% after-hours at $43.20 on Tuesday.  

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