Upstart Holdings Inc. reported its first-quarter 2025 earnings with total revenue reaching $213.4 million, surpassing the estimated $199.5 million and marking a 67% year-over-year increase. The company originated 240,706 loans, reflecting a 102% increase year-over-year, with total originations exceeding $2.1 billion, up 89% year-over-year. The conversion rate improved to 19.1% from 14.0% in the first quarter of 2024. Adjusted net income was $25 million, beating estimates of $16 million, although GAAP earnings per share (EPS) showed a loss of $0.03, missing the expected $0.17 EPS. Adjusted EPS was reported at $0.30, exceeding the $0.17 estimate. Upstart's CEO highlighted strong growth in the company's home and auto loan products, which grew 52% and 42% quarter-over-quarter, respectively, indicating successful diversification. The company provided guidance for the second quarter of 2025, expecting revenue of approximately $225 million, adjusted EBITDA of around $37 million, adjusted net income near $25 million, and a GAAP net loss of about $10 million.