Upstart (UPST) Q4 2025 Earnings Call Transcript

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Tuesday, February 10, 2026 astatine 4:30 p.m. ET

• Chief Executive Officer — David Girouard

• Incoming Chief Executive Officer — Paul Gu

• President and Chief Capital Officer — Sanjay Datta

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David Girouard: Thanks, Chelsea. Good afternoon, everyone. Thank you for joining us. I privation to commencement contiguous with what astir of you person heard by now. I'm ace excited to denote that connected May 1, my cofounder, Paul, volition go Upstart's adjacent CEO. While I'll proceed connected to my relation arsenic Upstart's Executive Chairman. Why now? Well, successful a fewer weeks, arsenic hard arsenic it is for maine to believe, I'll observe my 60th birthday. And for much than 5 years, we've talked astir this milestone arsenic the close clip framework for Paul to measurement into the CEO relation astatine Upstart.

I can't ideate a succession program much thoroughly considered oregon executed with immoderate finer level of item than what we've done astatine Upstart successful the past fewer years to hole Paul and the institution for this day. As I said successful the property announcement, Paul and I person been gathering Upstart together, broadside by side, for the past 14 years, and I expect we'll proceed to physique it unneurotic for the adjacent 14 oregon adjacent longer. When we cofounded the company, Paul was hardly aged capable to drink, and I was older than his parents. So this modulation is an incredibly uncommon accidental to person a founder-led institution for decades to come.

To beryllium clear, I'm not going anyplace and expect to beryllium rather progressive with Upstart. Beyond my relation arsenic Upstart's Executive Chairman, I'll proceed to assistance signifier the company's strategical absorption and important initiatives. I privation to convey each of you for this opportunity. Building and starring upstart has been the acquisition of a lifetime, 2nd lone to the beingness I've built with my amazing, my Tiffany and our 2 unthinkable children, Jackson and Tristan. In particular, I privation to convey Upstart employees past and present. It's been an grant to enactment alongside you done ups and downs, whether a bully time oregon otherwise, it's been an acquisition I volition ever cherish.

I couldn't beryllium much optimistic oregon excited astir the adjacent signifier of Upstart. Some clip ago, Paul said to maine that astir of the trillions of dollars successful involvement paid by borrowers successful this satellite is unnecessary successful the property of AI. So our ngo is simply a glorious one, and it's 1 requiring determination and perseverance not conscionable for years, but for decades. I'm assured that successful owed time, nether Paul's leadership, we'll look backmost with nostalgia astatine our archetypal 14 years arsenic the aboriginal days astatine Upstart. Now to determination connected to our regularly scheduled update. I'm arrogant of each the Upstart squad accomplished successful 2025.