Unsecured lending generated $326 million of fee revenue, while secured products, consisting of Home and auto offerings, produced $22 million. GAAP net income was approximately $17 million, producing a 5% net income margin and diluted earnings per share of $0.16. Loans held on Upstart’s balance sheet ended the quarter at approximately $1.06 billion, up about $50 million sequentially. The company aims to launch Upstart Bank in early 2027 and said the bank is not expected to change its strategy of primarily using third-party capital to fund loans. About Upstart (NASDAQ:UPST)Upstart Holdings, Inc operates a cloud-based lending marketplace that leverages artificial intelligence and machine learning to assess borrower creditworthiness.