Upstart Shareholder's Meeting

Upstart has announced that they have begun to repurchase some of there stock in there annual shareholder meeting.

The replay of their shareholder meeting will be available tomorrow.


The CFO in today’s discussion with Barclays: we were surprised by visceral reaction to holding non-R&D loans and don’t plan to do so going forward.


The CFO also mentioned they held only about $150M non-R&D loans out of the $4.5B loans orignated in this Q which amounts to only 3.3%. Reiterated that this was not a change in the business model.

They have always held loans on their balance sheet for a period of time. I went back and checked. In Q14 19 they originated $1.04B in loans and had $266M or 25% on their balance sheet. This Q the total loan on their balance sheet is at 13% out of which the R&D part is 9.7%.

Loans On Balance sheet %
Q419 1.044 266 25%
Q120 1.123 227.5 20%
Q220 0.164 148.1 90%
Q320 0.909 144.8 16%
Q420 1.249 97.5 8%
Q121 1.729 73.2 4%
Q221 2.795 95.3 3%
Q321 3.13 140.1 4%
Q421 4.10 260.8 6%
Q122 4.54 604.4 13%