Upstart

Ticker UPST. AI lending marketplace.

6 items in 5 issues, Oct 31, 2026 to Nov 8, 2026, newest first. Each item links to the issue it ran in, where its sources are listed.

November 2026

Sun, Nov 8 · The long read: The charter rush, as Democrats take the Senate
Lenders in line. Consumer lenders have joined the line. Upstart won conditional OCC approval for Upstart Bank in July. Mission Lane won conditional approval for a credit-card-only bank, which Klaros's Michele Alt called the first new OCC card bank in more than 20 years.
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Sat, Nov 7 · Opening balance
The calendar. The week packed in midterm elections on Tuesday, fintech earnings from Block, Upstart and Oportun that evening, Sezzle and Affirm on Wednesday, and the October jobs report on Friday. Economists surveyed by Bloomberg expected about 70,000 new jobs.
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Sat, Nov 7 · Credits
Near-prime credit. Oportun's 30-day delinquencies eased to 4.1% from 4.7% and annualized net charge-offs fell to 10.6% from 11.8%, while originations rose 12% to $571.8 million. Upstart grew originations 44% to $4.1 billion, but CEO Paul Gu said "Macro is putting pressure on our near-term outlook."
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Wed, Nov 4 · Earnings
Upstart. Upstart cut its adjusted EBITDA outlook to about $260 million from about $294 million, citing macro pressure on its near-term view, even as it raised its fee revenue outlook to about $1.32 billion. Revenue rose 34% to $370.5 million and originations 44% to $4.1 billion, though conversion slipped to 18.6% from 19.4%. "Macro is putting pressure on our near-term outlook," CEO Paul Gu said in the results release. "Macro comes and goes, but alpha compounds."
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Sun, Nov 1 · The week ahead
Upstart, Oportun. Both report Tue Nov 3: reads on AI underwriting and near-prime installment credit quality.
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October 2026

Sat, Oct 31 · Cards & payments
Card lenders lag. In Friday's sell-off, bank ETFs fell about 1% (KBE -1.1%, KRE -1.2%), but consumer lenders fell harder: OneMain -4.7%, Atlanticus -4.8%, Citi -3.1%, Synchrony -2.1%, Capital One -2.1%. Fintech lenders were weaker still, with SoFi -4.8% and Upstart -7.2% (Interactive Brokers late-Friday quotes).
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