Upstart Holdings Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	950.01	635.47	560.43	907.27	801.28
Other Revenue	125.51	41.5	-11.98	-53.99	50.59
Revenue	1,076	676.96	548.46	853.29	851.86
Revenue Growth (YoY)	58.88%	23.43%	-35.72%	0.17%	252.82%
Cost of Revenue	188.38	158	150.42	187.99	117.58
Gross Profit	887.14	518.97	398.04	665.29	734.28
Selling, General & Admin	555.25	397.74	339.53	531.07	454.89
Research & Development	257.6	253.65	280.14	237.25	134
Operating Expenses	812.85	651.39	619.67	768.31	588.89
Operating Income	74.3	-132.42	-221.63	-103.02	145.39
Interest Expense	-31.66	-43.63	-37.99	-13.84	-4.67
Interest & Investment Income	24.32	18.79	21.21	9.47	-
Other Non Operating Income (Expenses)	-19.87	-4.49	-1.61	-1.68	-5.75
EBT Excluding Unusual Items	47.08	-161.76	-240.03	-109.07	134.97
Merger & Restructuring Charges	-	-	-	-	-1.24
Other Unusual Items	7.25	33.36	-	-	-
Pretax Income	54.33	-128.4	-240.03	-109.07	133.73
Income Tax Expense	0.73	0.19	0.11	-0.41	-1.71
Earnings From Continuing Operations	53.6	-128.58	-240.13	-108.67	135.44
Net Income	53.6	-128.58	-240.13	-108.67	135.44
Net Income to Common	53.6	-128.58	-240.13	-108.67	135.44
Net Income Growth	-	-	-	-	2163.80%
Shares Outstanding (Basic)	96	89	84	83	78
Shares Outstanding (Diluted)	107	89	84	83	95
Shares Change (YoY)	20.17%	6.79%	1.20%	-12.66%	441.13%
EPS (Basic)	0.56	-1.44	-2.87	-1.31	1.73
EPS (Diluted)	0.45	-1.44	-2.87	-1.31	1.43
Free Cash Flow	-148.07	185.49	-113.24	-666.69	159.93
Free Cash Flow Per Share	-1.38	2.07	-1.35	-8.05	1.69
Gross Margin	82.48%	76.66%	72.57%	77.97%	86.20%
Operating Margin	6.91%	-19.56%	-40.41%	-12.07%	17.07%
Profit Margin	4.98%	-18.99%	-43.78%	-12.73%	15.90%
Free Cash Flow Margin	-13.77%	27.40%	-20.65%	-78.13%	18.77%
EBITDA	99.13	-111.87	-196.73	-89.51	152.93
EBITDA Margin	9.22%	-16.53%	-35.87%	-10.49%	17.95%
D&A For EBITDA	24.84	20.55	24.9	13.51	7.54
EBIT	74.3	-132.42	-221.63	-103.02	145.39
EBIT Margin	6.91%	-19.56%	-40.41%	-12.07%	17.07%
Effective Tax Rate	1.34%	-	-	-	-
Revenue as Reported	1,044	636.53	513.56	842.44	848.59

Source: S&P Global Market Intelligence. Standard template. Financial Sources.