Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Upstart Holdings, Inc. reported strong second-quarter 2026 results, characterized by significant growth and improving profitability across its unsecured and secured lending businesses.</li><li>The company achieved total originations of $4.2 billion, representing a 50% increase year-over-year and 23% sequentially.</li><li>Unsecured Lending segment originations grew 38% year-over-year and 20% sequentially, with core personal loans reaccelerating sharply, driving a 27% quarter-over-quarter increase in personal loan originations.</li></ul>

Upstart Holdings, Inc. reported strong second-quarter 2026 results, characterized by significant growth and improving profitability across its unsecured and secured lending businesses.The company achieved total originations of $4.2 billion, representing a 50% increase year-over-year and 23% sequentially.Unsecured Lending segment originations grew 38% year-over-year and 20% sequentially, with core personal loans reaccelerating sharply, driving a 27% quarter-over-quarter increase in personal loan originations.

Upstart Holdings’ $10.8 Billion Funding Firepower — Is Wall Street Missing The Bigger Story?

Smartkarma AI Primers, Smartkarma

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Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
  <li>Upstart operates a unique AI-driven lending marketplace, connecting consumers with a network of over 100 bank and credit union partners, aiming to improve loan access and pricing accuracy beyond traditional credit scores.</li>
  <li>The company has demonstrated significant revenue growth, but has also experienced periods of net losses and cash flow volatility, reflecting its sensitivity to macroeconomic conditions, interest rates, and the availability of capital from funding partners.</li>
  <li>Future growth hinges on the continued superior performance of its AI models, expansion into new credit verticals like auto and home equity loans, and navigating an increasingly complex regulatory environment for AI in lending.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  Upstart operates a unique AI-driven lending marketplace, connecting consumers with a network of over 100 bank and credit union partners, aiming to improve loan access and pricing accuracy beyond traditional credit scores.
  The company has demonstrated significant revenue growth, but has also experienced periods of net losses and cash flow volatility, reflecting its sensitivity to macroeconomic conditions, interest rates, and the availability of capital from funding partners.
  Future growth hinges on the continued superior performance of its AI models, expansion into new credit verticals like auto and home equity loans, and navigating an increasingly complex regulatory environment for AI in lending.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Upstart Holdings  (UPST US) - Aug 2026

Independent in-depth research from Finimize, Finimize

Finimize Research

Independent in-depth research from Finimize

Finimize

Finimize is the #1 information platform for modern investors. We empower people to become smarter investors with bitesize insights from world-class analysts. 1 million+ strong community, 250 partners.

Thematic (Sector/Industry)

<ul>
<li>The US economy’s resilience hasn’t come from the many – it’s come from the top 10% as the “wealth effect” from rising asset prices has boosted spending.</li>
<li>But it works in reverse too.  Since the richest make up nearly half of America’s consumer spending, that could lead to a serious economic fallout.</li>
<li>It’s worth considering protecting your portfolio. I’ve pulled together one list of companies that should do well and another that could suffer from the change in climate.</li>
</ul>


The US economy’s resilience hasn’t come from the many – it’s come from the top 10% as the “wealth effect” from rising asset prices has boosted spending.
But it works in reverse too.  Since the richest make up nearly half of America’s consumer spending, that could lead to a serious economic fallout.
It’s worth considering protecting your portfolio. I’ve pulled together one list of companies that should do well and another that could suffer from the change in climate.


A Defensive Portfolio Prepared For The Wealth Effect’s Reversal

<ul><li>Upstart Holdings, Inc. reported first quarter 2026 results marked by significant year-over-year growth in originations and revenues, alongside modest declines in profitability due to seasonality and strategic investments.</li><li>Originations increased 61% to $3.4 billion, driven by a 26% sequential rise in super prime personal loans and strong acceleration in newer secured product lines, including auto originations up 32% and home loans up 16% sequentially.</li><li>Revenue grew 44% year-over-year to approximately $308 million, reflecting higher volumes and expanded product mix, while fee revenues rose 49% year-over-year.</li></ul>

Upstart Holdings, Inc. reported first quarter 2026 results marked by significant year-over-year growth in originations and revenues, alongside modest declines in profitability due to seasonality and strategic investments.Originations increased 61% to $3.4 billion, driven by a 26% sequential rise in super prime personal loans and strong acceleration in newer secured product lines, including auto originations up 32% and home loans up 16% sequentially.Revenue grew 44% year-over-year to approximately $308 million, reflecting higher volumes and expanded product mix, while fee revenues rose 49% year-over-year.

Upstart Secures Over $4 Billion In Capital As Loan Growth Rebuilds!

Credit

<ul><li>Upstart Holdings, Inc., a company focused on providing AI-powered credit, has reported its third quarter 2025 results showcasing both notable achievements and challenges faced during this period.</li><li>On the positive side, Upstart demonstrated significant growth in various aspects.</li><li>The company achieved a substantial 71% year-on-year revenue growth and an 80% increase in transaction volume.</li></ul>

Upstart Holdings, Inc., a company focused on providing AI-powered credit, has reported its third quarter 2025 results showcasing both notable achievements and challenges faced during this period.On the positive side, Upstart demonstrated significant growth in various aspects.The company achieved a substantial 71% year-on-year revenue growth and an 80% increase in transaction volume.

Upstart Holdings Inc.: From AI-Led Customer Acquisition to Auto Lending—A High-Impact Growth Story in Smarter Credit & Scalable Originations!

United States

Upstart Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, provides cloud-based artificial intelligence (AI) lending platform to improve access of credit while reducing the risk and costs of lending for bank partners.

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Upstart Holdings (UPST US)

Upstart Holdings’ $10.8 Billion Funding Firepower — Is Wall Street Missing The Bigger Story?

Upstart Holdings, Inc. reported strong second-quarter 2026 results, characterized by significant growth and improving profitability across its...

Baptista Research

Primer: Upstart Holdings (UPST US) - Aug 2026

Upstart operates a unique AI-driven lending marketplace, connecting consumers with a network of over 100 bank and credit union partners, aiming...

αSK Primers

A Defensive Portfolio Prepared For The Wealth Effect’s Reversal

The top 10% account for around 50% of consumer spending in the US. This insight looks at the sectors and companies that could win and lose from the...

Finimize Research

Upstart Secures Over $4 Billion In Capital As Loan Growth Rebuilds!

Upstart Holdings, Inc. reported first quarter 2026 results marked by significant year-over-year growth in originations and revenues, alongside...

Baptista Research

Upstart Holdings Inc.: From AI-Led Customer Acquisition to Auto Lending—A High-Impact Growth Story in Smarter Credit & Scalable Originations!

Upstart Holdings, Inc., a company focused on providing AI-powered credit, has reported its third quarter 2025 results showcasing both notable...

Baptista Research

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