The Beauty of Taiwan

         適逢其會 - UPST @ 2021年8月11日

         UPST財報公布後股價飆漲，紀念人生再次的單日+25%↑。

Second Quarter 2021 Financial Highlights
         Revenue. Total revenue was $194 million, an increase of 1,018% from the second quarter of 2020. Total fee revenue was $187 million, an increase of 1,308% year-over-year.
         Transaction Volume and Conversion Rate. Bank partners originated 286,864 loans, totaling $2.80 billion, across our platform in the second quarter, up 1,605% from the same quarter of the prior year. Conversion on rate requests was 24% in the second quarter of 2021, up from 9% in the same quarter of the prior year.
         Income from Operations. Income from operations was $36.3 million, from ($11.4) million the prior year.
         Net Income and EPS. GAAP net income was $37.3 million, up from ($6.2) million in the same quarter of the prior year. Adjusted net income was $58.5 million, up from ($3.7) million in the same quarter of the prior year. Accordingly, GAAP diluted earnings per share was $0.39, and diluted adjusted earnings per share was $0.62 based on the weighted-average common shares outstanding during the period.
         Contribution Profit. Contribution profit was $96.7 million, up 2,171% from in the second quarter of 2020, with a contribution margin of 52% compared to a 32% contribution margin in the second quarter of 2020.
         Adjusted EBITDA. Adjusted EBITDA was $59.5 million, up from ($3.1) million in the same quarter prior year. The second quarter 2021 adjusted EBITDA margin was 31% of total revenue, from (18)% in the second quarter of 2020.

Financial Outlook
         For the third quarter of 2021, Upstart expects:
         Revenue of $205 to $215 million
         Contribution Margin of approximately 45%
         Net Income of $18 to $22 million
         Adjusted Net Income of $28 to $32 million
         Adjusted EBITDA of $30 to $34 million
         Basic Weighted-Average Share Count of approximately 78.0 million shares
         Diluted Weighted-Average Share Count of approximately 94.9 million shares

         For the 2021 fiscal year, Upstart now expects:
         Revenue of approximately $750 million (vs prior guidance of $600 million)
         Contribution Margin of approximately 45% (vs prior guidance of 42%)
         Adjusted EBITDA Margin of approximately 17% (vs prior guidance of 10%)