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 Cash Flow 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 |
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 |
Depreciation & Amortization | 6.46 | 6.13 | 5.84 | 6.4 | 4.7 | 5.39 | 4.83 | 5.63 | 9.1 | 4.93 | 4.43 | 6.44 | 3.65 | 3.72 | 3.35 | 2.78 | 2.56 | 2.19 | 1.98 | 0.82 |
Stock-Based Compensation | 32.45 | 34.16 | 35.51 | 29.83 | 29.8 | 33.62 | 34.21 | 35.78 | 32.77 | 35.57 | 32.6 | 74.11 | 33.91 | 36.66 | 30.33 | 25.05 | 23.06 | 20.32 | 21.19 | 8.62 |
Other Adjustments | -64.74 | -67.87 | -36.63 | -18.8 | -11.57 | 39.73 | 49.51 | 55.18 | 80.22 | 50.77 | 37.86 | 55.23 | -4.97 | 16.67 | 22.48 | 10.43 | 3.91 | -3.02 | -7.04 | 0.99 |
Changes in Accounts Payable | - | - | - | - | - | - | - | - | - | - | - | - | - | -11.63 | 11.71 | 3.37 | -2.96 | -7.94 | 9.19 | -5.81 |
Changes in Accrued Expenses | 60.51 | -13.41 | 41.29 | -48.83 | 25.48 | 31.78 | 12.72 | -25.85 | 21.26 | 4.44 | 1.67 | -31.33 | -5.81 | -0.54 | -13.87 | -11.09 | 29.72 | 6.07 | 19.18 | 4.6 |
Changes in Other Operating Activities | -2,630 | -106.2 | -171.78 | 20.36 | -1,645 | 108.95 | 25.4 | 38.2 | -884.98 | -161.96 | 118.95 | -50.92 | -328.34 | -90.03 | -77.78 | -330.02 | -126.38 | 5.51 | 11.02 | 23.77 |
Operating Cash Flow | 108.55 | -122.63 | -120.16 | -13.49 | -110.93 | 179.34 | 65.3 | 44.34 | -145.6 | -107.71 | 162.38 | -75.73 | -236.06 | -101.37 | -53.64 | -266.8 | -11.14 | 43.6 | 92.8 | 43.09 |
Operating Cash Flow Growth | - | - | - | - | - | - | -59.79% | - | - | - | - | - | - | - | - | - | - | 146.03% | 480.64% | - |
Capital Expenditures | -0.16 | -0.08 | -0.12 | - | 0 | -0.12 | -0.04 | -0.68 | -0.24 | -0.14 | -0.04 | -1.11 | -7 | -1.51 | -3.95 | -1.63 | -3.47 | -2.96 | -1.73 | -0.27 |
Purchases of Intangible Assets | -3.76 | -3.89 | -4.25 | -6.16 | -3.42 | -2.38 | -2.29 | -1.07 | -1.42 | -2.81 | -1.98 | -4.35 | 5.84 | -4.01 | -3.17 | -3.66 | -2.21 | -2.33 | -1.81 | -0.33 |
Purchases of Investments | - | - | - | - | - | - | - | - | - | - | - | - | -0.25 | 0 | 0 | -1 | 0 | -40 | - | - |
Proceeds from Sale of Investments | 10.16 | 6.37 | 3.84 | 2.69 | 1.91 | 1.32 | 1.46 | 1.23 | 0.77 | 0.56 | 1.43 | 1.57 | 1.23 | 1.6 | 1.85 | 2.07 | 2.34 | 2.77 | 3.23 | 3.12 |
Payments for Business Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -0.2 | 0 | -8.28 | - |
Other Investing Activities | 125.5 | -115.81 | -109.3 | -75.1 | -76.4 | -45 | -76.4 | -37.02 | -11.61 | -22.6 | -37.91 | -21.96 | -76.11 | -20.32 | -4.71 | 9.4 | -16.24 | -41.88 | -23.73 | -1.62 |
Investing Cash Flow | 131.74 | -120.51 | -109.83 | -78.57 | -77.91 | -46.17 | -76.1 | -37.55 | -29.89 | -24.22 | -38.49 | -25.85 | -85.11 | -24.25 | -9.94 | 5.18 | -19.78 | -84.4 | -40.6 | 0.9 |
Short-Term Debt Issued | - | - | - | 53.66 | - | - | - | 74.26 | - | - | - | - | - | - | - | - | - | - | - | - |
Short-Term Debt Repaid | - | - | - | -122.29 | - | - | - | -110.18 | - | - | - | - | - | - | - | - | - | - | - | - |
Net Short-Term Debt Issued (Repaid) | - | - | - | -68.63 | - | - | - | -35.92 | - | - | - | - | - | - | - | - | - | - | - | - |
Long-Term Debt Issued | 81.37 | 36.49 | 88.18 | - | 580.13 | 50.08 | 123.76 | - | 0 | - | 279.7 | 60.67 | - | 169.07 | 181.2 | 80 | 714.28 | -1.69 | 0 | 5.83 |
Long-Term Debt Repaid | -118.17 | -64.81 | -86.92 | -11.44 | -76.84 | -152.44 | -92.38 | -13.56 | -13.3 | -10.02 | -350.68 | -46.96 | - | -107.47 | -94.62 | -6.99 | -5.9 | -2.96 | -35.87 | -26.58 |
Net Long-Term Debt Issued (Repaid) | -36.8 | -28.31 | 1.26 | -11.44 | 503.3 | -102.36 | 31.37 | -13.56 | -13.3 | -10.02 | -70.99 | 13.71 | - | 61.61 | 86.57 | 73.01 | 708.37 | -4.64 | -35.87 | -20.75 |
Issuance of Common Stock | - | 8.39 | 1.66 | 12.9 | - | 13.18 | 1.02 | 5.77 | - | 5.51 | 5.14 | 7.27 | 1.63 | 4.55 | 3.78 | 10.06 | -0.67 | 16.61 | 133.41 | 1.49 |
Repurchase of Common Stock | - | -0 | -0 | -0.01 | - | -0.02 | -0 | -0 | - | 0 | -0 | -0.01 | -27.82 | -25.04 | -62.52 | - | 0 | 0 | -0.12 | - |
Net Common Stock Issued (Repurchased) | - | 8.38 | 1.66 | 12.9 | - | 13.17 | 1.01 | 5.77 | - | 5.51 | 5.13 | 7.26 | -26.19 | -20.49 | -58.74 | 10.06 | -0.67 | 16.61 | 133.29 | 1.49 |
Other Financing Activities | 14.25 | -0.97 | 8.56 | 22.5 | -3.1 | -6.18 | 9.43 | 8.29 | 1.89 | 4.28 | -27.47 | - | - | - | - | - | 0 | - | - | - |
Financing Cash Flow | -20.18 | 378.58 | 91.93 | -44.68 | 509.33 | -38.02 | 132.27 | -35.43 | 28.25 | 237.06 | -65.85 | 20.97 | 40.53 | 41.12 | -34.69 | 83.07 | 50.4 | 595.03 | 229.26 | -19.26 |
Net Cash Flow | 220.11 | 135.45 | -138.07 | -136.74 | 320.5 | 95.15 | 121.47 | -28.64 | -147.24 | 105.14 | 58.03 | -80.61 | -297.46 | -84.5 | -98.27 | -178.55 | 19.48 | 554.23 | 281.47 | 24.73 |
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% | - |
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% |
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 |
Levered Free Cash Flow | -2,581 | -110.06 | -117.9 | -104.59 | -1,115 | 36.88 | 19.81 | -96.78 | -910.56 | -203.06 | 25.85 | -192.46 | -392.76 | -94.6 | -23.83 | -230.89 | 666.79 | 27.34 | 41.06 | 12.46 |
Unlevered Free Cash Flow | -2,545 | -89.98 | -120.26 | -26.62 | -1,620 | 100.54 | -12.6 | -50.18 | -902.43 | -196.58 | 91.63 | -208.77 | -395.51 | -158.08 | -112.66 | -301.78 | -40.45 | 32.77 | 76.92 | 38.36 |
Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.