AI lending platform Upstart (NASDAQ:UPST) will be reporting earnings tomorrow afternoon. Here’s what to expect.

Upstart beat analysts’ revenue expectations by 2.5% last quarter, reporting revenues of $127.6 million, down 6% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and optimistic revenue guidance for the next quarter.

Is Upstart a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Upstart’s revenue to grow 11.6% year on year to $150.2 million, a reversal from the 14.4% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.15 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Upstart has missed Wall Street’s revenue estimates twice over the last two years.

Looking at Upstart’s peers in the vertical software segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Cadence delivered year-on-year revenue growth of 18.8%, beating analysts’ expectations by 2.9%, and Agilysys reported revenues up 16.5%, topping estimates by 1.1%. Cadence traded up 12.5% following the results while Agilysys was down 7.9%.

Read our full analysis of Cadence’s results here and Agilysys’s results here.

There has been positive sentiment among investors in the vertical software segment, with share prices up 7% on average over the last month. Upstart is up 19.1% during the same time and is heading into earnings with an average analyst price target of $30.62 (compared to the current share price of $51.10).

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