Directly from the CFO on the call: “And with respect to auto, we continue to have no meaningful contribution to the economics in fiscal-year 2021.”
Since that’s been the message on auto every quarter since the purchase was made, it’s reasonable to assume Upstart’s growth has been ALL organic for comparison purposes. Which, of course, makes it even more impressive. Do you interpret it differently based on the info you have on Prodigy?
Is the CFO talking about Auto Loans, which they’ve yet to monetize? Or is he lumping in Prodigy. It’s not crystal clear, which is my point.
Prodigy was a bigger business (when they bought it) than “no meaningful contribution” is what I believe to be true, with no facts to back that up. Prodigy is pervasive at car dealers. It was well established. I can’t imagine it would be less than a $10M business before UPST doubled it.