Upstart targets $1.4B 2026 revenue and $294M adjusted EBITDA while pursuing a national bank charter

Upstart (UPST) aims for $1.4 billion in revenue and $294 million adjusted EBITDA by 2026, as stated in their Q1 earnings call. CEO Paul Gu highlighted a 35% annualized revenue growth outlook and significant increases in loan originations, including a 300% rise in auto loans. The company reported $3.4 billion in originations and $308 million in total revenue for Q1, with a net loss of $7 million. Upstart has applied for a national bank charter but plans to continue relying on third-party capital. The guidance assumes a stable macroeconomic environment.