Upstart Holdings returned to profitability in the second quarter of 2025, posting net income of $5.6 million, or $0.05 a share, on fees revenue of $240.8 million. The artificial-intelligence lending platform also reported pretax profit of $5.7 million against operating expenses of $252.7 million. The results exceeded Wall Street estimates, with adjusted earnings beating the consensus by roughly $0.11 a share and revenue rising at a triple-digit pace from a year earlier. Chief Executive Officer Dave Girouard said the company reached GAAP profitability one quarter earlier than planned as growth momentum “is now in full bloom.” Upstart projected third-quarter and full-year revenue above analyst expectations, signaling confidence that demand for its AI-driven credit-decision software will continue to strengthen. Despite the upbeat outlook, the stock fell about 9% in after-hours trading as investors weighed the cost trajectory and market volatility.