<p><strong>Palantir</strong>(PLTR 2.53%) 的追随者会知道，该公司喜欢将 40 法则作为绩效基准。</p>
<p>这一软件行业标准意味着，一家公司应该拥有至少 40 的综合收入增长率和自由现金流利润率，或类似的盈利能力指标，才能被视为可投资。</p>
<p>Palantir 首席执行官 Alex Karp 对于基于 40 法则的公司强劲表现并不吝啬，指出其第二季度报告中的 40 法则得分为 94。这一得分由 48% 的收入增长和 46% 的调整后营业利润率构成。</p>
<p>毫无疑问，这是一个令人印象深刻的结果，并有助于说明为什么 Palantir 的股票持续飙升。然而，Palantir 在本季度的软件行业中并没有获得最佳的 40 法则得分。</p>
<p><strong>Upstart</strong>(UPST -1.01%)，这个基于人工智能的借贷平台，在 40 法则上超越了 Palantir。其收入增长为 102%，调整后的息税折旧摊销前利润（EBITDA）利润率为 21%，使其 40 法则得分达到 123。</p>
<p>与 Palantir 不同，尽管其 40 法则得分出色，Upstart 的股票实际上却下跌了。投资者应该趁机买入 Upstart 吗？让我们仔细看看。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjgzODQvdXBzdGFydC1maW50ZWNoLWxvYW4tYXBwcm92YWwuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjgzODQvdXBzdGFydC1maW50ZWNoLWxvYW4tYXBwcm92YWwuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>关于 Upstart 的季度表现</h2>
<p>在 Upstart 发布其改进的筛选模型 Model 18 一年后，该公司正在实现惊人的增长，并且该模型提高了其转化率，正如公司所预测的那样。</p>
<p>交易量跃升 159%，达到 372,599 笔贷款批准，转化率为 23.9%，即申请转化为贷款的比例，较去年同期的 15.2% 有所上升。</p>
<p>来自费用的收入，即其核心业务，增长了 84%，达到 2.41 亿美元，总收入为 2.573 亿美元，远超分析师平均预期的 2.254 亿美元。</p>
<p>Upstart 在底线表现上也令人印象深刻，将 930 万美元的调整后 EBITDA 亏损转变为 5310 万美元的利润。它还报告了 560 万美元的公认会计原则（GAAP）利润，或调整后每股 0.40 美元，较去年的 0.17 美元亏损有所改善，且优于 0.25 美元的预期。</p>
<p>Upstart 的前景也很强劲，提升了全年预测，第三季度的预期也超出预期。</p>
<p>然而，根据分析师的评论，股票下跌的原因是 Upstart 的提成率下降，这表明公司将发放的贷款转化为收入的难度可能在增加。在第二季度，发放贷款达到 28 亿美元，收入为 2.57 亿美元，提成率为 9%，较去年同期的 12% 下降。</p>
<h2>Upstart 值得购买吗？</h2>
<p>尽管关于提成率的批评可能是合理的，但这似乎是 Upstart 进入超优质贷款市场的结果，在该市场中，风险和违约率通常较低，因此值得进行这样的权衡。</p>
<p>此外，Upstart 刚刚开始进入广阔的住房和汽车贷款市场。</p>
<p>汽车贷款发放量同比增长超过六倍，达到 1.14 亿美元，住房贷款达到 6800 万美元，同比增加九倍。</p>
<p>这些类别仍然较小，仅占总收入的一小部分，但未来有潜力成为巨大的市场。</p>
<p>此外，Upstart 收入的激增和盈利能力的恢复是在没有利率下降的情况下实现的。如果利率下降，通过其平台的贷款需求可能会更快增长。</p>
<p>总体而言，考虑到快速增长、盈利能力改善以及在住房和汽车市场的机会，Upstart 的抛售似乎值得利用。如果你对 Palantir 最近的业绩感到印象深刻，Upstart 值得关注。</p>

UPST

PLTR

<p>Upstart 是一家基于人工智能的借贷平台，其得分为 123，超过了 Palantir 的 40 法则得分，这得益于 102% 的收入增长和 21% 的调整后 EBITDA 利润率。尽管业绩令人印象深刻，但 Upstart 的股票因提成率下降而下跌，这表明在将发放量转化为收入方面面临挑战。然而，该公司正在扩展到住房和汽车贷款市场，这可能推动未来的增长。分析师建议，近期的抛售为投资提供了机会，因为 Upstart 的增长迅速且盈利能力正在改善</p>

<p>Followers of <strong>Palantir</strong>(PLTR 2.53%) will know that the company likes to use the Rule of 40 as a performance benchmark.</p>
<div class="lb-trans"><p><strong>Palantir</strong>(PLTR 2.53%) 的追随者会知道，该公司喜欢将 40 法则作为绩效基准。</p>
</div><p>This standard in the software industry means that a company should have a combined revenue growth rate and free cash flow margin, or a similar profitability measure, of at least 40 in order to be investable.</p>
<div class="lb-trans"><p>这一软件行业标准意味着，一家公司应该拥有至少 40 的综合收入增长率和自由现金流利润率，或类似的盈利能力指标，才能被视为可投资。</p>
</div><p>Palantir Chief Executive Officer Alex Karp hasn't been shy about touting the company's strong performance based on the Rule of 40, noting that it had a Rule of 40 score of 94 in its second-quarter report. That was made up of 48% revenue growth and 46% adjusted operating margin.</p>
<div class="lb-trans"><p>Palantir 首席执行官 Alex Karp 对于基于 40 法则的公司强劲表现并不吝啬，指出其第二季度报告中的 40 法则得分为 94。这一得分由 48% 的收入增长和 46% 的调整后营业利润率构成。</p>
</div><p>There's no doubt that that's an impressive result and helps show why Palantir stock continues to soar. However, Palantir didn't have the best Rule of 40 score in the software sector this quarter.</p>
<div class="lb-trans"><p>毫无疑问，这是一个令人印象深刻的结果，并有助于说明为什么 Palantir 的股票持续飙升。然而，Palantir 在本季度的软件行业中并没有获得最佳的 40 法则得分。</p>
</div><p><strong>Upstart</strong>(UPST -1.01%), the artificial intelligence-based lending platform, beat Palantir in the Rule of 40. With revenue growth of 102% and an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of 21%, giving it a Rule of 40 score of 123.</p>
<div class="lb-trans"><p><strong>Upstart</strong>(UPST -1.01%)，这个基于人工智能的借贷平台，在 40 法则上超越了 Palantir。其收入增长为 102%，调整后的息税折旧摊销前利润（EBITDA）利润率为 21%，使其 40 法则得分达到 123。</p>
</div><p>Unlike Palantir, which rose after its earnings report, Upstart actually tumbled despite that blowout Rule of 40 score. Should investors buy the dip on Upstart? Let's take a closer look.</p>
<div class="lb-trans"><p>与 Palantir 不同，尽管其 40 法则得分出色，Upstart 的股票实际上却下跌了。投资者应该趁机买入 Upstart 吗？让我们仔细看看。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjgzODQvdXBzdGFydC1maW50ZWNoLWxvYW4tYXBwcm92YWwuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F828384%2Fupstart-fintech-loan-approval.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>About Upstart's quarter</h2>
<div class="lb-trans"><h2>关于 Upstart 的季度表现</h2>
</div><p>A year after Upstart unveiled its improved screening model, Model 18, the company is delivering blistering growth, and that model has improved its conversion rates as the company predicted.</p>
<div class="lb-trans"><p>在 Upstart 发布其改进的筛选模型 Model 18 一年后，该公司正在实现惊人的增长，并且该模型提高了其转化率，正如公司所预测的那样。</p>
</div><p>Transaction volume jumped 159% to 372,599 loans approved, with a 23.9% conversion rate, meaning applications that became loans, up from 15.2% in the quarter a year ago.</p>
<div class="lb-trans"><p>交易量跃升 159%，达到 372,599 笔贷款批准，转化率为 23.9%，即申请转化为贷款的比例，较去年同期的 15.2% 有所上升。</p>
</div><p>Revenue from fees, its core business, rose 84% to $241 million, and total revenue of $257.3 million was well ahead of the average analyst estimate at $225.4 million.</p>
<div class="lb-trans"><p>来自费用的收入，即其核心业务，增长了 84%，达到 2.41 亿美元，总收入为 2.573 亿美元，远超分析师平均预期的 2.254 亿美元。</p>
</div><p>Upstart impressed on the bottom line as well, as it flipped an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) loss of $9.3 million to a profit of $53.1 million. It also reported a generally accepted accounting principles (GAAP) profit of $5.6 million, or $0.40 per share on an adjusted basis, up from a loss of $0.17, and better than the estimate of $0.25.</p>
<div class="lb-trans"><p>Upstart 在底线表现上也令人印象深刻，将 930 万美元的调整后 EBITDA 亏损转变为 5310 万美元的利润。它还报告了 560 万美元的公认会计原则（GAAP）利润，或调整后每股 0.40 美元，较去年的 0.17 美元亏损有所改善，且优于 0.25 美元的预期。</p>
</div><p>Upstart's outlook was strong as well, as it raised its full-year forecast and third-quarter projection was ahead of expectations.</p>
<div class="lb-trans"><p>Upstart 的前景也很强劲，提升了全年预测，第三季度的预期也超出预期。</p>
</div><p>However, the reason the stock fell, according to analyst commentary, was that Upstart's take rate shrank, a sign that it could be getting harder for the company to convert origination volume into revenue. In the second quarter, originations reached $2.8 billion, and revenue was $257 million, giving it a take rate of 9%, which was down from 12% in the quarter a year ago.</p>
<div class="lb-trans"><p>然而，根据分析师的评论，股票下跌的原因是 Upstart 的提成率下降，这表明公司将发放的贷款转化为收入的难度可能在增加。在第二季度，发放贷款达到 28 亿美元，收入为 2.57 亿美元，提成率为 9%，较去年同期的 12% 下降。</p>
</div><h2>Is Upstart a buy?</h2>
<div class="lb-trans"><h2>Upstart 值得购买吗？</h2>
</div><p>Although the critique about the take rate may be valid, that seems to be a result of Upstart moving into the super prime loan market, where risk and default rates are typically lower, so it's worth the trade-off.</p>
<div class="lb-trans"><p>尽管关于提成率的批评可能是合理的，但这似乎是 Upstart 进入超优质贷款市场的结果，在该市场中，风险和违约率通常较低，因此值得进行这样的权衡。</p>
</div><p>Additionally, Upstart is just starting to tap the vast home and auto loan markets.</p>
<div class="lb-trans"><p>此外，Upstart 刚刚开始进入广阔的住房和汽车贷款市场。</p>
</div><p>Auto loan originations jumped more than sixfold from a year ago to $114 million, and home loans reached $68 million, up ninefold from the same quarter a year ago.</p>
<div class="lb-trans"><p>汽车贷款发放量同比增长超过六倍，达到 1.14 亿美元，住房贷款达到 6800 万美元，同比增加九倍。</p>
</div><p>Those categories are still small and contribute just a fraction of total revenue, but they have the potential to be huge in the future.</p>
<div class="lb-trans"><p>这些类别仍然较小，仅占总收入的一小部分，但未来有潜力成为巨大的市场。</p>
</div><p>Furthermore, Upstart's surge in revenue and return to profitability has come without any help from lower interest rates. If interest rates fall, demand for loans through its platform could soar even faster.</p>
<div class="lb-trans"><p>此外，Upstart 收入的激增和盈利能力的恢复是在没有利率下降的情况下实现的。如果利率下降，通过其平台的贷款需求可能会更快增长。</p>
</div><p>Overall, the sell-off in Upstart looks worth taking advantage of given the rapid growth, improving profitability, and its opportunity in the home and auto markets. If you've been impressed with Palantir's recent results, Upstart is worth taking a look at.</p>
<div class="lb-trans"><p>总体而言，考虑到快速增长、盈利能力改善以及在住房和汽车市场的机会，Upstart 的抛售似乎值得利用。如果你对 Palantir 最近的业绩感到印象深刻，Upstart 值得关注。</p>
</div>

This AI Stock Just Crushed Palantir's Rule of 40 Score. Is It a Buy Now?

- Palantir 的第二季度 Rule of 40 得分为 94，显示出强劲表现。  
- Upstart 的 Rule of 40 得分为 123，收入增长 102%，但股价下跌。  
- Upstart 在汽车和房贷市场有巨大潜力，未来增长可期。

这只 AI 股票刚刚超越了 Palantir 的 40 法则得分。现在是否是购买的好时机？