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UPST
Tracking revenue isn’t my preferred way to check in on UPST. Right now UPST uses investors as loan originators. But when the market/investors are scared ie the bear market we are in, less loans are able to be originated. Therefore less revenue for UPST.
But that’s not what I track. Instead keep an eye on $UPST moving away from investor loan origination and into being a SaaS “credit score” for auto retailers and credit unions. And hopefully in the future all lending. Below you can see they have been adding loan originators at a solid pace (nearly doubling both yoy)
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The next thing $UPST needs to be a long term winner is to continue to be superior to the competition $FICO.

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Which in this most recent quarter in a tough credit market, UPST continues to outperform legacy credit scoring.

For me this is a multi-decade hold. As long as the AI credit scoring continues to outperform and UPST continues to get more lenders on board (credit unions and auto-retailers) then this will be a multi-bagger.

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