UPST
Upstart Holdings Inc
NASDAQ: UPST · FINANCIAL SERVICES · CREDIT SERVICES
$30.48
-7.24% today
Updated 2026-04-29
Market cap
$2.92B
P/E ratio
67.73
P/S ratio
2.71x
EPS (TTM)
$0.45
Dividend yield
—
52W range
$24 – $87
Volume
4.8M
Upstart Holdings Inc (UPST) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $57.29M | $99.31M | $164.19M | $233.42M | $848.59M | $842.44M | $547.72M | $676.96M | $1.08B |
| Revenue growth (YoY) | — | +73.4% | +65.3% | +42.2% | +263.6% | -0.7% | -35.0% | +23.6% | +58.9% |
| Cost of revenue | $10.23M | $15.42M | $24.95M | $37.58M | $117.58M | $187.99M | $39.60M | $48.13M | $51.54M |
| Gross profit | $47.06M | $83.90M | $139.24M | $195.84M | $731.01M | $654.45M | $508.12M | $628.83M | $1.02B |
| Gross margin | 82.1% | 84.5% | 84.8% | 83.9% | 86.1% | 77.7% | 92.8% | 92.9% | 95.2% |
| R&D | $5.32M | $8.41M | $18.78M | $38.80M | $134.00M | $237.25M | $280.14M | $253.65M | $257.60M |
| SG&A | $25.66M | $35.24M | $56.81M | $83.19M | $240.26M | $373.28M | $362.81M | $388.93M | $442.12M |
| Operating income | $-7.54M | $-7.97M | $-4.58M | $11.77M | $140.88M | $-113.86M | $-240.03M | $-128.40M | $54.33M |
| Operating margin | -13.2% | -8.0% | -2.8% | 5.0% | 16.6% | -13.5% | -43.8% | -19.0% | 5.1% |
| EBITDA | $-7.44M | $-7.66M | $-3.80M | $14.04M | $148.42M | $-100.35M | $-215.12M | $-107.85M | $79.16M |
| EBITDA margin | -13.0% | -7.7% | -2.3% | 6.0% | 17.5% | -11.9% | -39.3% | -15.9% | 7.4% |
| EBIT | $-7.54M | $-7.97M | $-4.58M | $11.77M | $140.88M | $-113.86M | $-240.03M | $-128.40M | $54.33M |
| Interest expense | $9.42M | $26.48M | $26.48M | $8.03M | $3.27M | $10.84M | $39.60M | $48.13M | $51.54M |
| Income tax | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-8.86M | $-11.22M | $-5.02M | $5.58M | $135.44M | $-108.67M | $-240.13M | $-128.58M | $53.60M |
| Net income growth (YoY) | — | -26.6% | +55.3% | +211.1% | +2327.7% | -180.2% | -121.0% | +46.5% | +141.7% |
| Profit margin | -15.5% | -11.3% | -3.1% | 2.4% | 16.0% | -12.9% | -43.8% | -19.0% | 5.0% |