Upstart CEO Paul Gu stated that the company has experienced multiple cycles of investor misunderstanding due to macro issues, characterizing the current perception gap as "quite severe." The company reported a 35% revenue increase to $625 million in the first half of 2026, with a GAAP profit of $0.10 per share. Upstart aims for a 35% compound annual growth rate from 2025 to 2028, projecting $2.6 billion in revenue and $650 million in adjusted EBITDA by 2028. The analysis notes Upstart's current price-to-sales ratio of approximately 2, suggesting it doesn't reflect its growth potential, especially with new committed capital partners and an ongoing bank charter application.