Upstart Holdings, Inc. (UPST)
NASDAQ: UPST · Real-Time Price · USD
25.65
+1.43 (5.90%)
At close: Mar 31, 2026, 4:00 PM EDT
26.13
+0.48 (1.87%)
Pre-market: Apr 1, 2026, 8:23 AM EDT
Upstart Holdings Income Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Quarter | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 | Jun '21 Jun 30, 2021 | Mar '21 Mar 31, 2021 |
| 296.09 | 277.11 | 257.29 | 213.37 | 218.96 | 162.14 | 127.63 | 127.79 | 140.31 | 134.56 | 135.77 | 102.93 | 146.91 | 157.23 | 228.16 | 310.14 | 304.85 | 228.45 | 193.95 | 121.35 | |
Revenue Growth (YoY) | 35.22% | 70.91% | 101.59% | 66.97% | 56.05% | 20.50% | -5.99% | 24.16% | -4.49% | -14.42% | -40.50% | -66.81% | -51.81% | -31.17% | 17.64% | 155.58% | 251.57% | 249.53% | 1017.65% | 89.62% |
Cost of Revenue | 51.84 | 49.79 | 46.25 | 40.5 | 40.6 | 39.3 | 38.68 | 39.41 | 36.12 | 36.91 | 36.8 | 40.59 | 43.49 | 45.03 | 51.07 | 48.41 | 41.05 | 34.98 | 24.16 | 17.39 |
Gross Profit | 244.25 | 227.32 | 211.05 | 172.87 | 178.36 | 122.84 | 88.95 | 88.39 | 104.2 | 97.64 | 98.97 | 62.34 | 103.43 | 112.21 | 177.09 | 261.73 | 263.8 | 193.47 | 169.78 | 103.96 |
Selling, General & Admin | 158.42 | 139.62 | 137.68 | 119.53 | 115.89 | 103.1 | 85.98 | 92.76 | 94.54 | 86.55 | 74.34 | 84.1 | 97.9 | 104.11 | 152.15 | 176.91 | 156.89 | 127.79 | 102.06 | 69.4 |
Research & Development | 66.91 | 64.03 | 68.83 | 57.84 | 67.22 | 64.89 | 58.45 | 63.09 | 57.15 | 54.94 | 57.97 | 110.07 | 64.03 | 66.18 | 57.05 | 49.99 | 46.5 | 37.09 | 31.43 | 18.99 |
Total Operating Expenses | 225.33 | 203.65 | 206.5 | 177.37 | 183.11 | 167.99 | 144.43 | 155.85 | 151.7 | 141.49 | 132.31 | 194.17 | 161.92 | 170.3 | 209.2 | 226.9 | 203.39 | 164.87 | 133.49 | 88.38 |
Operating Income | 18.92 | 23.67 | 4.54 | -4.5 | -4.75 | -45.15 | -55.49 | -67.47 | -47.5 | -43.85 | -33.34 | -131.84 | -58.5 | -58.09 | -32.11 | 34.83 | 60.41 | 28.6 | 36.29 | 15.57 |
Total Non-Operating Income (Expense) | 15.06 | 8.26 | 1.11 | 2.08 | 5.77 | 38.44 | 1.03 | 2.88 | 8.69 | 3.54 | 5.2 | 2.6 | 6.28 | 1.88 | 2.26 | -2.12 | -1.15 | -0.75 | 0 | -5.25 |
Pretax Income | 19.16 | 31.93 | 5.66 | -2.42 | -2.64 | -6.71 | -54.46 | -64.58 | -42.34 | -40.31 | -28.15 | -129.24 | -55.73 | -56.21 | -29.85 | 32.71 | 59.27 | 27.85 | 36.3 | 10.32 |
Provision for Income Taxes | 0.53 | 0.12 | 0.05 | 0.03 | 0.11 | 0.05 | 0.02 | 0.01 | 0.06 | 0.01 | 0.02 | 0.02 | -0.46 | 0.01 | 0.02 | 0.02 | 0.32 | -1.27 | -0.99 | 0.22 |
Net Income | 18.64 | 31.81 | 5.61 | -2.45 | -2.76 | -6.76 | -54.47 | -64.6 | -42.4 | -40.32 | -28.17 | -129.25 | -55.26 | -56.22 | -29.87 | 32.69 | 58.94 | 29.11 | 37.28 | 10.1 |
Net Income to Common | 18.64 | 31.81 | 5.61 | -2.45 | -2.76 | -6.76 | -54.47 | -64.6 | -42.4 | -40.32 | -28.17 | -129.25 | -55.26 | -56.22 | -29.87 | 32.69 | 58.94 | 29.11 | 37.28 | 10.1 |
Net Income Growth | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 223.62% | 5639.44% | 201.10% | - | 918.35% |
Shares Outstanding (Basic) | 98 | 97 | 96 | 94 | 92 | 90 | 88 | 87 | 86 | 84 | 83 | 82 | 82 | 82 | 84 | 84 | 83 | 79 | 77 | 74 |
Shares Outstanding (Diluted) | 112 | 110 | 103 | 94 | 92 | 90 | 88 | 87 | 86 | 84 | 83 | 82 | 82 | 82 | 84 | 95 | 99 | 96 | 95 | 91 |
Shares Change (YoY) | 21.75% | 21.75% | 16.30% | 8.32% | 7.72% | 6.77% | 6.38% | 6.25% | 4.06% | 3.35% | -0.84% | -14.19% | -16.77% | -14.98% | -11.57% | 4.38% | 279.09% | 259.15% | 546.79% | 525.28% |
EPS (Basic) | 0.19 | 0.33 | 0.06 | -0.03 | -0.03 | -0.07 | -0.62 | -0.74 | -0.50 | -0.48 | -0.34 | -1.58 | -0.67 | -0.69 | -0.36 | 0.39 | 0.71 | 0.37 | 0.49 | 0.14 |
EPS (Diluted) | 0.17 | 0.23 | 0.05 | -0.03 | -0.03 | -0.07 | -0.62 | -0.74 | -0.50 | -0.48 | -0.34 | -1.58 | -0.67 | -0.69 | -0.36 | 0.34 | 0.61 | 0.30 | 0.39 | 0.11 |
EPS Growth | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 209.09% | 1448.09% | 200.00% | - | - |
Shares Outstanding | 98.03 | 97.28 | 96.09 | 95.07 | 93.47 | 91 | 89.08 | 87.81 | 86.33 | 85.02 | 83.81 | 82.6 | 81.26 | 81.83 | 82.19 | 84.68 | 83.66 | 81.54 | 77.63 | 73.91 |
Free Cash Flow | 108.4 | -122.7 | -120.28 | -13.49 | -110.93 | 179.22 | 65.26 | 43.65 | -145.84 | -107.84 | 162.34 | -76.84 | -243.06 | -102.88 | -57.59 | -268.42 | -14.62 | 40.64 | 91.07 | 42.83 |
Free Cash Flow Growth | - | - | - | - | - | - | -59.80% | - | - | - | - | - | - | - | - | - | - | 134.28% | 484.44% | - |
Free Cash Flow Per Share | 0.97 | -1.12 | -1.17 | -0.14 | -1.20 | 1.99 | 0.74 | 0.50 | -1.70 | -1.28 | 1.95 | -0.94 | -2.96 | -1.26 | -0.69 | -2.81 | -0.15 | 0.42 | 0.96 | 0.47 |
Gross Margin | 82.49% | 82.03% | 82.03% | 81.02% | 81.46% | 75.76% | 69.69% | 69.16% | 74.26% | 72.57% | 72.90% | 60.56% | 70.40% | 71.36% | 77.62% | 84.39% | 86.53% | 84.69% | 87.54% | 85.67% |
Operating Margin | 6.39% | 8.54% | 1.77% | -2.11% | -2.17% | -27.85% | -43.47% | -52.79% | -33.85% | -32.58% | -24.56% | -128.09% | -39.82% | -36.95% | -14.07% | 11.23% | 19.82% | 12.52% | 18.71% | 12.83% |
Profit Margin | 6.29% | 11.48% | 2.18% | -1.15% | -1.26% | -4.17% | -42.68% | -50.55% | -30.22% | -29.96% | -20.75% | -125.58% | -37.62% | -35.76% | -13.09% | 10.54% | 19.34% | 12.74% | 19.22% | 8.33% |
FCF Margin | 36.61% | -44.28% | -46.75% | -6.32% | -50.66% | 110.54% | 51.13% | 34.16% | -103.94% | -80.15% | 119.57% | -74.65% | -165.44% | -65.43% | -25.24% | -86.55% | -4.79% | 17.79% | 46.96% | 35.29% |
EBITDA | 25.38 | 29.8 | 10.39 | 1.9 | -0.05 | -39.76 | -50.66 | -61.84 | -38.4 | -38.91 | -28.92 | -125.39 | -54.84 | -54.37 | -28.75 | 37.61 | 62.97 | 30.78 | 38.28 | 16.39 |
EBITDA Margin | 8.57% | 10.75% | 4.04% | 0.89% | -0.02% | -24.52% | -39.69% | -48.39% | -27.37% | -28.92% | -21.30% | -121.83% | -37.33% | -34.58% | -12.60% | 12.13% | 20.66% | 13.48% | 19.74% | 13.51% |
EBIT | 18.92 | 23.67 | 4.54 | -4.5 | -4.75 | -45.15 | -55.49 | -67.47 | -47.5 | -43.85 | -33.34 | -131.84 | -58.5 | -58.09 | -32.11 | 34.83 | 60.41 | 28.6 | 36.29 | 15.57 |
EBIT Margin | 6.39% | 8.54% | 1.77% | -2.11% | -2.17% | -27.85% | -43.47% | -52.79% | -33.85% | -32.58% | -24.56% | -128.09% | -39.82% | -36.95% | -14.07% | 11.23% | 19.82% | 12.52% | 18.71% | 12.83% |
Effective Tax Rate | 2.75% | 0.39% | 0.87% | -1.20% | -4.20% | -0.67% | -0.03% | -0.02% | -0.15% | -0.02% | -0.06% | -0.01% | 0.83% | -0.02% | -0.08% | 0.06% | 0.54% | -4.55% | -2.72% | 2.14% |
Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.