Upstart Holdings, Inc. (UPST) Bank of America Global Technology Conference (Transcript)

Upstart Holdings, Inc. (NASDAQ:UPST) Bank of America Global Technology Conference June 3, 2025 1:40 AM ET

Company Participants

Sanjay Datta – CFO
Paul Gu – Chief Technology Officer

Conference Call Participants

Mihir Bhatia – Bank of America

Mihir Bhatia

[Call Started Abruptly] is the Upstart session. So welcome to the Upstart session. I’m Mihir Bhatia. I cover consumer finance and payment companies here at Bank of America Research. For tech investors, you can vote — also vote in the consumer finance or the payments categories in II. So please vote for us. Before we get started, I do have to read some of these disclosures. So today’s discussion may contain forward-looking statements that relate to future results and events, which are based on Upstart’s information available as of today and are subject to risks and uncertainties. Actual results may differ materially from these forward-looking statements. The discussion may also include non-GAAP financial measures, which are not a substitute for the GAAP results. Please refer to the company’s filings with the SEC and its IR Web site for additional information, including GAAP to non-GAAP reconciliations along with other disclosures. So with that out of the way, it’s my privilege to be hosting Sanjay and Paul. Sanjay is the Chief Financial Officer at Upstart, Paul is the Chief Technology Officer. So thank you both for joining us. Really appreciate you guys taking the time to come in today.

Sanjay Datta

Thanks for having us.

Mihir Bhatia

So now usually, when we have these discussions, we start with the macro backdrop and then start getting down to company level questions. But you guys just hosted at AI Investor Day. We are a technology conference. So I’m going to try to do things a little different, and we’ll start with a couple of questions around AI and Upstart. And like the