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
Revenue	1,044	636.53	513.56	842.44	848.59
Revenue Growth (YoY)	63.99%	23.94%	-39.04%	-0.72%	263.55%
Cost of Revenue	188.38	158	150.42	187.99	117.58
Gross Profit	855.48	478.53	363.14	654.45	731.01
Selling, General & Admin	555.25	397.74	339.53	531.07	456.13
Research & Development	257.6	253.65	280.14	237.25	134
Total Operating Expenses	812.85	651.39	619.67	768.31	590.13
Operating Income	42.63	-172.86	-256.53	-113.86	140.88
Total Non-Operating Income (Expense)	11.7	44.46	16.5	4.79	-7.15
Pretax Income	54.33	-128.4	-240.03	-109.07	133.73
Provision for Income Taxes	0.73	0.19	0.11	-0.41	-1.71
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	-	-	-	-	2327.73%
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
Shares Outstanding	98.03	93.47	86.33	81.26	83.66
Free Cash Flow	-148.07	185.49	-113.24	-666.69	159.93
Free Cash Flow Growth	-	-	-	-	1297.10%
Free Cash Flow Per Share	-1.38	2.07	-1.35	-8.05	1.69
Gross Margin	81.95%	75.18%	70.71%	77.68%	86.14%
Operating Margin	4.08%	-27.16%	-49.95%	-13.52%	16.60%
Profit Margin	5.13%	-20.20%	-46.76%	-12.90%	15.96%
FCF Margin	-14.19%	29.14%	-22.05%	-79.14%	18.85%
EBITDA	67.47	-152.31	-231.62	-100.35	148.42
EBITDA Margin	6.46%	-23.93%	-45.10%	-11.91%	17.49%
EBIT	42.63	-172.86	-256.53	-113.86	140.88
EBIT Margin	4.08%	-27.16%	-49.95%	-13.52%	16.60%
Effective Tax Rate	1.34%	-0.14%	-0.04%	0.37%	-1.28%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q