Subject: Re: Upstart Breakeven Analysis
...but it could provide a substantial kicker to income for a little while.

Yes, that's a good point. It helped back in 2021 for example.

The other helpful thing, at least short-term, is that the fair value adjustments
are non-cash adjustments. They affect GAAP earnings but are added back to cash
from operations. So those interest payments coming in every month don't have any
cash offset and go into their cash account and can be used to help pay fixed
expenses until they sort out this revenue problem.

Ears