# Upstart Holdings, Inc.: overview

UPST · Nasdaq · CIK 1647639 · [Financials](/sectors/financials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/upst.md) · [Financials](/companies/upst/financials.md) · [Filings](/companies/upst/filings.md) · [Insiders](/companies/upst/insiders.md)

Latest reported revenue: [$364.7m](/filings/0001647639-26-000063.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 4, 2026 (XBRL us-gaap:Revenues, accession 0001647639-26-000063).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [162](/filings/0001647639-25-000134.md) | [219 d](/filings/0001647639-26-000027.md) | [213](/filings/0001647639-26-000046.md) | [257](/filings/0001647639-26-000063.md) | [277](/filings/0001647639-25-000134.md) | [296 d](/filings/0001647639-26-000027.md) | [308](/filings/0001647639-26-000046.md) | [365](/filings/0001647639-26-000063.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(27.8%)](/filings/0001647639-25-000134.md) | [(2.2%) d](/filings/0001647639-26-000027.md) | [(2.1%)](/filings/0001647639-26-000046.md) | [1.8%](/filings/0001647639-26-000063.md) | [8.5%](/filings/0001647639-25-000134.md) | [6.4% d](/filings/0001647639-26-000027.md) | [(2.4%)](/filings/0001647639-26-000046.md) | [4.0%](/filings/0001647639-26-000063.md) |
| Net margin | % | [(4.2%)](/filings/0001647639-25-000134.md) | [(1.3%) d](/filings/0001647639-26-000027.md) | [(1.1%)](/filings/0001647639-26-000046.md) | [2.2%](/filings/0001647639-26-000063.md) | [11.5%](/filings/0001647639-25-000134.md) | [6.3% d](/filings/0001647639-26-000027.md) | [(2.2%)](/filings/0001647639-26-000046.md) | [4.5%](/filings/0001647639-26-000063.md) |
| Diluted EPS | $ per share | [(0.07)](/filings/0001647639-25-000134.md) | not reported | [(0.03)](/filings/0001647639-26-000046.md) | [0.05](/filings/0001647639-26-000063.md) | [0.23](/filings/0001647639-25-000134.md) | not reported | [(0.07)](/filings/0001647639-26-000046.md) | [0.16](/filings/0001647639-26-000063.md) |
| Free cash flow | $m | [179 d](/filings/0001647639-25-000134.md) | [(111) d](/filings/0001647639-26-000027.md) | [(13.5)](/filings/0001647639-26-000046.md) | [(120) d](/filings/0001647639-26-000063.md) | [(123) d](/filings/0001647639-25-000134.md) | [108 d](/filings/0001647639-26-000027.md) | [(136)](/filings/0001647639-26-000046.md) | [(139) d](/filings/0001647639-26-000063.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [801](/filings/0001647639-23-000021.md) | [907](/filings/0001647639-23-000021.md) | [514](/filings/0001647639-26-000027.md) | [637](/filings/0001647639-26-000027.md) | [1,044](/filings/0001647639-26-000027.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [17.6%](/filings/0001647639-24-000009.md) | [(12.6%)](/filings/0001647639-25-000018.md) | [(50.0%)](/filings/0001647639-26-000027.md) | [(27.2%)](/filings/0001647639-26-000027.md) | [4.1%](/filings/0001647639-26-000027.md) |
| Net margin | % | [16.9%](/filings/0001647639-24-000009.md) | [(12.0%)](/filings/0001647639-25-000018.md) | [(46.8%)](/filings/0001647639-26-000027.md) | [(20.2%)](/filings/0001647639-26-000027.md) | [5.1%](/filings/0001647639-26-000027.md) |
| Diluted EPS | $ per share | [1.43](/filings/0001647639-24-000009.md) | [(1.31)](/filings/0001647639-25-000018.md) | [(2.87)](/filings/0001647639-26-000027.md) | [(1.44)](/filings/0001647639-26-000027.md) | [0.45](/filings/0001647639-26-000027.md) |
| Free cash flow | $m | [160](/filings/0001647639-24-000009.md) | [(667)](/filings/0001647639-25-000018.md) | [(113)](/filings/0001647639-26-000027.md) | [185](/filings/0001647639-26-000027.md) | [(148)](/filings/0001647639-26-000027.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/upst/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $279.1m | 7,878,717 |  | Added +475,638 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $132.5m | 3,739,758 |  | Reduced −3,783 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $131.0m | 3,698,553 |  | Reduced −53,497 |
| [SUSQUEHANNA INTERNATIONAL GROUP, LLP](/funds/1446194.md) | 2026-06-30 | $108.4m | 3,059,600 | Call | Reduced −750,200 |
| [SUSQUEHANNA INTERNATIONAL GROUP, LLP](/funds/1446194.md) | 2026-06-30 | $91.7m | 2,589,500 | Put | Reduced −75,200 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $85.6m | 2,414,712 |  | Reduced −1,560,347 |
| [GOLDMAN SACHS GROUP INC](/funds/886982.md) | 2026-06-30 | $84.9m | 2,395,222 |  | Added +835,736 |
| [MARSHALL WACE, LLP](/funds/1318757.md) | 2026-06-30 | $84.0m | 2,370,690 |  | Reduced −909,420 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $79.0m | 2,228,631 |  | Added +104,553 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $75.1m | 2,118,467 |  | Added +65,381 |

## Recent filings

[All 917 filings](/companies/upst/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-20 | 20:05 ET | [8-K](/filings/0001647639-26-000071.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation | 0001647639-26-000071 |
| 2026-08-05 | 21:26 ET | [10-Q/A](/filings/0001647639-26-000066.md) | Quarterly report, amended, period 2026-06-30 | 0001647639-26-000066 |
| 2026-08-04 | 20:08 ET | [10-Q](/filings/0001647639-26-000063.md) | Quarterly report, period 2026-06-30 | 0001647639-26-000063 |
| 2026-08-04 | 20:05 ET | [8-K](/filings/0001647639-26-000062.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001647639-26-000062 |
| 2026-05-28 | 21:15 ET | [8-K](/filings/0001647639-26-000050.md) | 5.07 Shareholder vote results | 0001647639-26-000050 |
| 2026-05-19 | 13:00 ET | [8-K](/filings/0001647639-26-000048.md) | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0001647639-26-000048 |
| 2026-05-05 | 20:08 ET | [10-Q](/filings/0001647639-26-000046.md) | Quarterly report, period 2026-03-31 | 0001647639-26-000046 |
| 2026-05-05 | 20:05 ET | [8-K](/filings/0001647639-26-000045.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001647639-26-000045 |
| 2026-04-16 | 20:05 ET | [DEF 14A](/filings/0001193125-26-158972.md) | Proxy statement, period 2026-05-28 | 0001193125-26-158972 |
| 2026-03-10 | 20:06 ET | [8-K](/filings/0001647639-26-000036.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0001647639-26-000036 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001647639-26-000027.md), filed Feb 10, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/edd32fe6-ed89-47bc-b047-703cac3b34e8)

## About the filer

- CIK: 1647639
- Tickers: UPST
- Exchange: Nasdaq
- SIC code: 6199 Finance Services
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:45 ET. No prices; not investment advice.