Upstart (UPST) Morgan Stanley Technology, Media & Telecom Conference 2026 summary

Leadership and strategic continuity

• Leadership transition planned over several years ensures strong continuity, with no expected changes in priorities or strategy.

• Outgoing leader remains as chairman and major shareholder, continuing to provide input.

Disclosure and transparency initiatives

• Monthly transaction volumes are now published to increase transparency and reduce speculation.

• Emphasis on distinguishing short-term noise from long-term business signals, with management providing updated annual outlooks as needed.

Multi-year growth framework and market expansion

• Multi-year targets are based on a macro-neutral environment, focusing on secular growth through improved models and automation.

• Confident in maintaining strong growth over the next three years, with ongoing R&D to enhance automation and risk evaluation.

• Expansion into secured lending is seen as a major growth lever, with significant TAM and first-mover advantage in AI-driven credit.