Upstart Holdings Inc. (UPST) just gave investors a reason to smile. The AI lending platform posted its second-quarter results after Tuesday's closing bell, and the numbers were good enough to send shares climbing in after-hours trading.

Here's a look at what happened.

Upstart Q2 Details

Upstart reported quarterly earnings of 16 cents per share. Quarterly revenue came in at $364.71 million, which beat the Street's estimate of $351.52 million, according to market data.

The company reported the following second-quarter highlights:

• Originations: $4.2 billion, up 50% year-over-year. 558,014 loans originated, up 50% year-over-year.
• Total Revenue: $365 million, up 42% YoY. Revenue from fees was $348 million, up 45% YoY.
• Income from Operations: $14.6 million, compared to $4.5 million in the second quarter of 2025.
• Contribution Profit: All-time high of $193 million, up 37% YoY. Contribution Margin was 55%, versus 58% in the second quarter of 2025.
• Adjusted EBITDA: $76.9 million, up 45% YoY from $53.1 million in the second quarter of 2025. Adjusted EBITDA Margin was 21%, unchanged from Q2 2025.

CEO Paul Gu was clearly pleased with the execution. "We came into this quarter with a clear plan, and we executed against it — re-accelerating growth in core personal loans, moving our secured products rapidly toward profitability, and funding that growth without adding equity capital," he said.

"The results speak for themselves: originations up 50% year-over-year and we returned to GAAP profitability, with an all-time-high Contribution Profit," Gu added.