Every 10-Q that Upstart Holdings, Inc. (UPST) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow UPST and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full UPST filings page.
Upstart Holdings, Inc. filed Amendment No. 1 to its quarterly report for the period ended June 30, 2026. The amendment solely revises one sentence in the Risk Factors section to correct a time period, clarifying that certain quarterly vintages of personal loans (excluding small dollar loans) originated in the second quarter of 2023 through the first quarter of 2024 and the fourth quarter of 2024 are forecasted to underperform their target returns set at origination. All other disclosures remain as of the original filing date.
For the three months ended June 30, 2026, Upstart reported total revenue of 364,708 (in thousands), including revenue from fees, net of 348,019 (in thousands), and income from operations of 14,639 (in thousands). Net income was 16,539 (in thousands), or $0.16 diluted net income per share. As of June 30, 2026, total assets were 3,171,273 (in thousands), including loans at fair value of 1,064,239 (in thousands) and beneficial interest assets of 545,938 (in thousands), funded by total liabilities of 2,373,785 (in thousands) and stockholders’ equity of 797,488 (in thousands).
Upstart Holdings, Inc. reported higher results for the quarter ended June 30, 2026. Total revenue was 364,708 (thousands of dollars), compared with 257,291 (thousands) a year earlier, driven mainly by platform and referral fees of 284,066 (thousands) and servicing and other fees of 54,807 (thousands). Net income for the quarter was 16,539 (thousands), or 0.17 basic and 0.16 diluted earnings per share.
For the six months ended June 30, 2026, revenue totaled 672,922 (thousands) and net income 9,893 (thousands). Cash, cash equivalents and restricted cash were 982,277 at June 30, 2026, versus 1,057,012 at December 31, 2025, while borrowings increased to 2,003,129 from 1,829,145. Loans at fair value rose to 1,064,239 and beneficial interest assets to 545,938, reflecting larger loan and risk-sharing exposures. Net cash used in operating activities was 269,929 (thousands) year-to-date, partly offset by 94,958 provided by investing activities and 100,236 from financing activities, including 424,550 of new borrowings and 100,057 used for share repurchases.
Upstart Holdings, Inc. reported first‑quarter 2026 results, showing strong top-line growth but a wider loss. Total revenue rose to $308,214 (thousands) from $213,371 (thousands) a year earlier, driven mainly by higher platform, referral, and servicing fees.
Revenue from fees, net increased to $277,063 (thousands), while interest income, interest expense, and fair value adjustments, net contributed $31,151 (thousands). Operating expenses grew to $315,732 (thousands), outpacing revenue and leading to a net loss of $6,646 (thousands), compared with a $2,447 (thousands) loss in the prior-year quarter. Basic and diluted net loss per share were $0.07, versus $0.03.
On the balance sheet as of March 31, 2026, Upstart reported total assets of $2,961,681 (thousands), borrowings of $1,921,665 (thousands), and stockholders’ equity of $733,166 (thousands). Cash, cash equivalents and restricted cash were $931,334 (thousands), and loans at fair value totaled $1,014,089 (thousands). The company had 95,708,872 common shares outstanding as of March 31, 2026 and 95,711,569 shares outstanding as of April 28, 2026.
Upstart Holdings, Inc. filed its Q3 2025 report, showing a sharp rebound in results. Total revenue reached $277.105 million, up from $162.140 million a year ago, driven by platform and referral fees of $216.882 million and servicing and other fees of $41.657 million. Interest income/expense and fair value adjustments contributed $18.566 million net.
Operating income was $23.666 million versus a prior-year loss, and net income was $31.805 million with diluted EPS of $0.23 (basic $0.33). Operating expenses totaled $253.439 million.
As of September 30, 2025, total assets were $2.904,848 million, liabilities $2.161,130 million, and stockholders’ equity $743.718 million. Cash and cash equivalents were $489.784 million and restricted cash $347.121 million. Loans at fair value stood at $1,229.976 million. For the nine months, operating cash flow used $256.277 million, investing used $308.909 million, and financing provided $425.828 million. Shares outstanding were 97,286,484 as of October 28, 2025.
Upstart Holdings (UPST) posted a sharp turnaround in Q2-25. Total revenue doubled YoY to $257.3 million, driven by an 85% jump in platform & referral fees to $240.8 million and a swing in fair-value/interest items to a $16.5 million gain from a $2.9 million loss.
Profitability returned. Net income reached $5.6 million (diluted EPS $0.05) versus a $54.5 million loss (-$0.62) in Q2-24. For the first six months, revenue rose 84% to $470.7 million and net income turned positive at $3.2 million (EPS $0.03) from a $119.1 million loss.
Loan growth and funding mix. Loans held at fair value expanded 26% since 12/31/24 to $1.02 billion, while restricted cash tied to funding vehicles increased 63% to $305.5 million. Borrowings ticked up only 2% to $1.43 billion, indicating leverage largely stable.
Cash usage remains a watch-item. Cash & equivalents fell to $395.9 million from $788.4 million, and YTD operating cash flow swung to a $133.6 million outflow. Operating expenses climbed 38% YoY to $252.7 million, mainly higher marketing and R&D spend.
Balance-sheet strength improved. Shareholders’ equity rose 14% to $722.0 million, aided by positive earnings and $86 million of additional paid-in capital. Shares outstanding grew 2.8% to 96.1 million.
Key customer concentration persists: three customers each supplied >10% of revenue, with Customer A contributing 35% in Q2-25.
Management cites AI-model accuracy, diversified funding, and macro tailwinds as forward-looking drivers but warns of regulatory and credit-cycle risks.