# Upstart Holdings, Inc.: financial statements, quarterly

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)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/upst/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | 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 | [147](/filings/0001647639-23-000051.md) | [106 d](/filings/0001647639-26-000027.md) | [128](/filings/0001647639-25-000049.md) | [128](/filings/0001647639-25-000100.md) | [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) |
| Research and development | $m | [54.9](/filings/0001647639-24-000047.md) | [57.2 d](/filings/0001647639-26-000027.md) | [63.1](/filings/0001647639-25-000049.md) | [58.5](/filings/0001647639-25-000100.md) | [64.9](/filings/0001647639-25-000134.md) | [67.2 d](/filings/0001647639-26-000027.md) | [57.8](/filings/0001647639-26-000046.md) | [68.8](/filings/0001647639-26-000063.md) | [64.0](/filings/0001647639-25-000134.md) | [66.9 d](/filings/0001647639-26-000027.md) | [80.1](/filings/0001647639-26-000046.md) | [93.9](/filings/0001647639-26-000063.md) |
| Operating income | $m | [(43.8)](/filings/0001647639-24-000047.md) | [(47.5) d](/filings/0001647639-26-000027.md) | [(67.5)](/filings/0001647639-25-000049.md) | [(55.5)](/filings/0001647639-25-000100.md) | [(45.2)](/filings/0001647639-25-000134.md) | [(4.8) d](/filings/0001647639-26-000027.md) | [(4.5)](/filings/0001647639-26-000046.md) | [4.5](/filings/0001647639-26-000063.md) | [23.7](/filings/0001647639-25-000134.md) | [18.9 d](/filings/0001647639-26-000027.md) | [(7.5)](/filings/0001647639-26-000046.md) | [14.6](/filings/0001647639-26-000063.md) |
| Interest expense | $m | [9.4](/filings/0001647639-23-000051.md) | [14.1 d](/filings/0001647639-24-000009.md) | [10.7](/filings/0001647639-24-000022.md) | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Income tax | $m | [0.0](/filings/0001647639-24-000047.md) | [0.1 d](/filings/0001647639-26-000027.md) | [0.0](/filings/0001647639-25-000049.md) | [0.0](/filings/0001647639-25-000100.md) | [0.0](/filings/0001647639-25-000134.md) | [0.1 d](/filings/0001647639-26-000027.md) | [0.0](/filings/0001647639-26-000046.md) | [0.0](/filings/0001647639-26-000063.md) | [0.1](/filings/0001647639-25-000134.md) | [0.5 d](/filings/0001647639-26-000027.md) | [0.1](/filings/0001647639-26-000046.md) | [0.6](/filings/0001647639-26-000063.md) |
| Net income | $m | [(40.3)](/filings/0001647639-24-000047.md) | [(42.4) d](/filings/0001647639-26-000027.md) | [(64.6)](/filings/0001647639-25-000049.md) | [(54.5)](/filings/0001647639-25-000100.md) | [(6.8)](/filings/0001647639-25-000134.md) | [(2.8) d](/filings/0001647639-26-000027.md) | [(2.4)](/filings/0001647639-26-000046.md) | [5.6](/filings/0001647639-26-000063.md) | [31.8](/filings/0001647639-25-000134.md) | [18.6 d](/filings/0001647639-26-000027.md) | [(6.6)](/filings/0001647639-26-000046.md) | [16.5](/filings/0001647639-26-000063.md) |
| Diluted EPS | $ per share | [(0.48)](/filings/0001647639-24-000047.md) | not reported | [(0.74)](/filings/0001647639-25-000049.md) | [(0.62)](/filings/0001647639-25-000100.md) | [(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) |
| Basic EPS | $ per share | [(0.48)](/filings/0001647639-24-000047.md) | not reported | [(0.74)](/filings/0001647639-25-000049.md) | [(0.62)](/filings/0001647639-25-000100.md) | [(0.07)](/filings/0001647639-25-000134.md) | not reported | [(0.03)](/filings/0001647639-26-000046.md) | [0.06](/filings/0001647639-26-000063.md) | [0.33](/filings/0001647639-25-000134.md) | not reported | [(0.07)](/filings/0001647639-26-000046.md) | [0.17](/filings/0001647639-26-000063.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [517](/filings/0001647639-23-000051.md) | [368](/filings/0001647639-25-000018.md) | [301](/filings/0001647639-24-000022.md) | [375](/filings/0001647639-24-000038.md) | [445](/filings/0001647639-24-000047.md) | [788](/filings/0001647639-26-000027.md) | [600](/filings/0001647639-25-000049.md) | [396](/filings/0001647639-25-000100.md) | [490](/filings/0001647639-25-000134.md) | [652](/filings/0001647639-26-000063.md) | [473](/filings/0001647639-26-000046.md) | [456](/filings/0001647639-26-000063.md) |
| Total assets | $m | [2,002](/filings/0001647639-23-000051.md) | [2,017](/filings/0001647639-25-000018.md) | [1,928](/filings/0001647639-24-000022.md) | [1,820](/filings/0001647639-24-000038.md) | [1,809](/filings/0001647639-24-000047.md) | [2,367](/filings/0001647639-26-000027.md) | [2,296](/filings/0001647639-25-000049.md) | [2,478](/filings/0001647639-25-000100.md) | [2,905](/filings/0001647639-25-000134.md) | [2,975](/filings/0001647639-26-000063.md) | [2,962](/filings/0001647639-26-000046.md) | [3,171](/filings/0001647639-26-000063.md) |
| Total liabilities | $m | [1,361](/filings/0001647639-23-000051.md) | [1,382](/filings/0001647639-25-000018.md) | [1,315](/filings/0001647639-24-000022.md) | [1,226](/filings/0001647639-24-000038.md) | [1,213](/filings/0001647639-24-000047.md) | [1,734](/filings/0001647639-26-000027.md) | [1,620](/filings/0001647639-25-000049.md) | [1,756](/filings/0001647639-25-000100.md) | [2,161](/filings/0001647639-25-000134.md) | [2,176](/filings/0001647639-26-000063.md) | [2,229](/filings/0001647639-26-000046.md) | [2,374](/filings/0001647639-26-000063.md) |
| Shareholders' equity | $m | [641](/filings/0001647639-24-000047.md) | [635](/filings/0001647639-26-000027.md) | [613](/filings/0001647639-25-000100.md) | [595](/filings/0001647639-25-000134.md) | [596](/filings/0001647639-25-000134.md) | [633](/filings/0001647639-26-000063.md) | [677](/filings/0001647639-26-000063.md) | [722](/filings/0001647639-26-000063.md) | [744](/filings/0001647639-25-000134.md) | [799](/filings/0001647639-26-000063.md) | [733](/filings/0001647639-26-000063.md) | [797](/filings/0001647639-26-000063.md) |

- Cash and equivalents: us-gaap:Cash, us-gaap:CashAndCashEquivalentsAtCarryingValue
- Total assets: us-gaap:Assets
- Total liabilities: us-gaap:Liabilities
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | 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) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [(108) d](/filings/0001647639-24-000047.md) | [(146) d](/filings/0001647639-26-000027.md) | [44.3](/filings/0001647639-25-000049.md) | [73.6 d](/filings/0001647639-25-000100.md) | [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) | [109 d](/filings/0001647639-26-000027.md) | [(133)](/filings/0001647639-26-000046.md) | [(137) d](/filings/0001647639-26-000063.md) |
| Capital expenditure | $m | [0.1 d](/filings/0001647639-24-000047.md) | [0.2 d](/filings/0001647639-26-000027.md) | [0.7](/filings/0001647639-25-000049.md) | [0.0 d](/filings/0001647639-25-000100.md) | [0.1 d](/filings/0001647639-25-000134.md) | [0.0 d](/filings/0001647639-26-000027.md) | [0.0](/filings/0001647639-26-000046.md) | [0.1 d](/filings/0001647639-26-000063.md) | [0.1 d](/filings/0001647639-25-000134.md) | [0.2 d](/filings/0001647639-26-000027.md) | [2.8](/filings/0001647639-26-000046.md) | [2.1 d](/filings/0001647639-26-000063.md) |
| Share repurchases | $m | [0.0 d](/filings/0001647639-23-000051.md) | [0.0 d](/filings/0001647639-25-000018.md) | not reported | not reported | not reported | not reported | [0.0](/filings/0001647639-26-000046.md) | [0.0 d](/filings/0001647639-26-000063.md) | not reported | not reported | [100](/filings/0001647639-26-000046.md) | [0.0 d](/filings/0001647639-26-000063.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
- Share repurchases: us-gaap:PaymentsForRepurchaseOfCommonStock

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [81.7](/filings/0001647639-23-000051.md) | [81.9](/filings/0001647639-24-000022.md) | [83.1](/filings/0001647639-24-000038.md) | [84.4](/filings/0001647639-24-000047.md) | [87.0](/filings/0001647639-25-000049.md) | [88.4](/filings/0001647639-25-000100.md) | [90.1](/filings/0001647639-25-000134.md) | [94.3](/filings/0001647639-26-000046.md) | [103](/filings/0001647639-26-000063.md) | [110](/filings/0001647639-25-000134.md) | [96.9](/filings/0001647639-26-000046.md) | [110](/filings/0001647639-26-000063.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 97,313,046 at 2026-07-28, from the cover of the [10-Q/A filed 2026-08-05](/filings/0001647639-26-000066.md) (dei:EntityCommonStockSharesOutstanding).

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