UPST

Updated: Mar 12, 2026 11:30 AM

Upstart Holdings Inc

Market Cap: $4.68B P/S: 16x Ownership — Insider: 12.3% | Institutional: 74.1% | Retail: 13.6% FINANCIAL SERVICES CREDIT SERVICES

Upstart Holdings, Inc. is an innovative fintech company based in San Mateo, California, revolutionizing the personal lending industry through its cutting-edge cloud-based artificial intelligence platform. By leveraging sophisticated machine learning algorithms, Upstart significantly optimizes the credit decision-making process, leading to higher loan approval rates, lower consumer borrowing costs, and enhanced risk assessment for lenders. This disruptive model not only redefines traditional lending norms but also establishes Upstart as a frontrunner in the rapidly growing AI-powered financial services sector, adeptly addressing the dynamic requirements of both borrowers and financial institutions.

Revenue

Revenue, Profit & Income — explained by Jerry the Goat Farmer
Total RevenueEvery single dollar that wanders onto Jerry's farm. Cheese sales, milk money, goat yoga memberships, and that one weird guy who pays $50 to just watch the goats. Jerry doesn't ask questions.
Gross ProfitThe money left after feeding the goats but before reality sets in. Jerry feels rich for exactly 11 minutes.
Net IncomeWhat Jerry actually gets to keep after the Jerrynment, cousin Larry, the feed store, and his ex-wife's lawyer all take their cut. This number is often... humbling.
Using alias: revenuea -> totalRevenue [annual] [income]
Using alias: profita -> grossProfit [annual] [income]
Using alias: incomea -> netIncome [annual] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        8/8 dates (100%)
  ✅ grossProfit                         8/8 dates (100%)
  ✅ netIncome                           8/8 dates (100%)

Plot for UPST (in M)
  reports: annualReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               -848.59M                  -424.29M                    0.00M                    424.29M                   848.59M
               |                         |                         |                         |                         |

  2017-12-31 |                                                    |  57.29M
  2018-12-31 |                                                    |  99.31M
  2019-12-31 |                                                    |  164.19M
  2020-12-31 |                                                     |  233.42M
  2021-12-31 |                                                     | 848.59M
  2022-12-31 |                                              | 842.44M
  2023-12-31 |                                      |  547.72M
  2024-12-31 |                                             |  676.96M

               |                         |                         |                         |                         |
               -848.59M                  -424.29M                    0.00M                    424.29M                   848.59M

Costs

Operating Costs — explained by Jerry the Goat Farmer
Cost of Goods & Services SoldThe unglamorous stuff: hay, feed, vet bills for when Sergio the goat eats another iPhone. These goats don't feed themselves, and they definitely don't apologize.
Selling, General & AdministrativeThe "CHEESE HAPPENS" billboard on the highway, the accountant (cousin Larry, who definitely cheated in Monopoly as a kid), office supplies, and the therapy Jerry needs after dealing with cousin Larry.
Research & DevelopmentJerry's experimental ghost pepper goat cheese that made three customers cry. Also the goat treadmill. The goats refuse to use the goat treadmill.
Using alias: rnda -> researchAndDevelopment [annual] [income]
Using alias: sgaa -> sellingGeneralAndAdministrative [annual] [income]
Using alias: cogsa -> costofGoodsAndServicesSold [annual] [income]


Data Completeness:
------------------------------------------------------------
  ✅ researchAndDevelopment              8/8 dates (100%)
  ✅ sellingGeneralAndAdministrative     8/8 dates (100%)
  ✅ costofGoodsAndServicesSold          8/8 dates (100%)

Plot for UPST (in M)
  reports: annualReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00M                    97.23M                    194.47M                   291.70M                   388.93M
               |                         |                         |                         |                         |

  2017-12-31 |  25.66M
  2018-12-31 |  35.24M
  2019-12-31 |  56.81M
  2020-12-31 |  83.19M
  2021-12-31 |  240.26M
  2022-12-31 |  373.28M
  2023-12-31 |  362.81M
  2024-12-31 |  388.93M

               |                         |                         |                         |                         |
               0.00M                    97.23M                    194.47M                   291.70M                   388.93M

Cash

Cash, Debt & Cash Flow — explained by Jerry the Goat Farmer
Cash & Short-Term InvestmentsThe coffee can buried behind the barn, $47 in a savings account, and some cryptocurrency Jerry bought drunk in 2021. He's afraid to check on it.
Short/Long-Term DebtThe barn loan that'll follow Jerry to the grave (long-term) and the $200 he owes the feed store guy who's starting to give him looks (short-term).
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Using alias: casha -> cashAndShortTermInvestments [annual] [balance]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: paychecka -> operatingCashflow [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ⚠️  cashAndShortTermInvestments         7/8 dates (88%)
  ⚠️  shortLongTermDebtTotal              7/8 dates (88%)
  ✅ operatingCashflow                   8/8 dates (100%)

Plot for UPST (in B)
  reports: annualReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               -1.45B                    -0.73B                     0.00B                     0.73B                     1.45B
               |                         |                         |                         |                         |

  2017-12-31 |                                                     |  0.01B ⊗⊗
  2018-12-31 |                                                     |  0.50B
  2019-12-31 |                                                     |  0.14B
  2020-12-31 |                                                     |  0.26B
  2021-12-31 |                                                     |  0.99B
  2022-12-31 |                             |  1.09B
  2023-12-31 |                                               |  1.10B
  2024-12-31 |                                                     | 1.45B

               |                         |                         |                         |                         |
               -1.45B                    -0.73B                     0.00B                     0.73B                     1.45B

FCF

Free Cash Flow — explained by Jerry the Goat Farmer
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Capital ExpendituresBig, expensive purchases Jerry justifies at 2am: the industrial milking machine, new fencing, and a hot tub "for the goats" that somehow only Jerry uses.
Using alias: paychecka -> operatingCashflow [annual] [cashflow]
Using alias: capexa -> capitalExpenditures [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   8/8 dates (100%)
  ✅ capitalExpenditures                 8/8 dates (100%)

Plot for UPST (in M)
  reports: annualReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               -674.68M                  -337.34M                    0.00M                    337.34M                   674.68M
               |                         |                         |                         |                         |

  2017-12-31 |                                                     |  10.36M
  2018-12-31 |                                                     |  50.34M
  2019-12-31 |                                                     |  31.58M
  2020-12-31 |                                                     |  15.70M
  2021-12-31 |                                                     |  168.35M
  2022-12-31 | |  -674.68M
  2023-12-31 |                                         |  -160.49M
  2024-12-31 |                                                     |  186.33M

               |                         |                         |                         |                         |
               -674.68M                  -337.34M                    0.00M                    337.34M                   674.68M

Assets

Assets, Liabilities & Equity — explained by Jerry the Goat Farmer
🐐 Assets = Liabilities + Equity

Translation: What Jerry owns = What Jerry owes + What's actually Jerry's

Or as Jerry mutters every April during tax season:
"Everything I have equals everything I owe plus whatever scraps are left for me, a humble goat man just trying to make cheese in this cruel world."
Total AssetsEverything Jerry owns: 12 acres of land, a barn that's "rustic" (rotting), 47 goats, Sergio (appraised at $800, priceless to Jerry), the cheese cave, and a 2004 Ford F-150 held together by duct tape and prayer.
Total LiabilitiesEverything Jerry owes: bank loans, the feed store tab, back taxes, and a moral debt to his neighbor for "borrowing" that tractor in 2019. They both know he's not returning it.
Total Shareholder EquityIf Jerry sold absolutely everything, paid off every debt, and finally returned that tractor... this is what he'd have left. His actual net worth. Some days it's a retirement fund. Other days it's "enough for a bus ticket and a fresh start."
Using alias: assetsa -> totalAssets [annual] [balance]
Using alias: liabila -> totalLiabilities [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ⚠️  totalAssets                         7/8 dates (88%)
  ⚠️  totalLiabilities                    7/8 dates (88%)
  ⚠️  totalShareholderEquity              7/8 dates (88%)

Plot for UPST (in B)
  reports: annualReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               -2.37B                    -1.18B                     0.00B                     1.18B                     2.37B
               |                         |                         |                         |                         |

  2018-12-31 |                                                     |  0.65B
  2019-12-31 |                                                    |  0.46B
  2020-12-31 |                                                     |  0.48B
  2021-12-31 |                                                     |  1.82B
  2022-12-31 |                                                     |  1.94B
  2023-12-31 |                                                     |  2.02B
  2024-12-31 |                                                     | 2.37B

               |                         |                         |                         |                         |
               -2.37B                    -1.18B                     0.00B                     1.18B                     2.37B

Buffet

Using alias: incomea -> netIncome [annual] [income]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           8/8 dates (100%)
  ⚠️  shortLongTermDebtTotal              7/8 dates (88%)
  ⚠️  totalShareholderEquity              7/8 dates (88%)

Plot for UPST (in B)
  reports: annualReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               -1.45B                    -0.73B                     0.00B                     0.73B                     1.45B
               |                         |                         |                         |                         |

  2017-12-31 |                                                    | -0.01B ⊗⊗
  2018-12-31 |                                                    |  0.50B
  2019-12-31 |                                                   |  0.14B
  2020-12-31 |                                                     |  0.30B
  2021-12-31 |                                                     |  0.81B
  2022-12-31 |                                                 |  1.09B
  2023-12-31 |                                            |  1.10B
  2024-12-31 |                                                | 1.45B

               |                         |                         |                         |                         |
               -1.45B                    -0.73B                     0.00B                     0.73B                     1.45B

Revenue-q

Using alias: revenue -> totalRevenue [quarterly] [income]
Using alias: profit -> grossProfit [quarterly] [income]
Using alias: income -> netIncome [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        25/25 dates (100%)
  ✅ grossProfit                         25/25 dates (100%)
  ✅ netIncome                           25/25 dates (100%)

Plot for UPST (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               -310.14M                  -155.07M                    0.00M                    155.07M                   310.14M
               |                         |                         |                         |                         |

  2019-09-30 |                                                    |  49.49M
  2019-12-31 |                                                     |  68.15M
  2020-03-31 |                                                     |  63.99M
  2020-06-30 |                                                    |  17.35M
  2020-09-30 |                                                     |  65.36M
  2020-12-31 |                                                     |  86.71M
  2021-03-31 |                                                     |  121.34M
  2021-06-30 |                                                     |  193.95M
  2021-09-30 |                                                     |  228.45M
  2021-12-31 |                                                     |  304.85M
  2022-03-31 |                                                     | 310.14M
  2022-06-30 |                                                |  228.16M
  2022-09-30 |                                            |  157.23M
  2022-12-31 |                                            |  146.91M
  2023-03-31 |                               |  -129.25M
  2023-06-30 |                                                |  135.77M
  2023-09-30 |                                              |  134.56M
  2023-12-31 |                                              |  140.31M
  2024-03-31 |                                          |  138.51M
  2024-06-30 |                                            |  139.10M
  2024-09-30 |                                                    |  172.96M
  2024-12-31 |                                                    |  226.40M
  2025-03-31 |                                                    |  220.39M
  2025-06-30 |                                                     |  257.29M
  2025-09-30 |                                                     |  285.90M

               |                         |                         |                         |                         |
               -310.14M                  -155.07M                    0.00M                    155.07M                   310.14M

Costs-q

Using alias: rnd -> researchAndDevelopment [quarterly] [income]
Using alias: sga -> sellingGeneralAndAdministrative [quarterly] [income]
Using alias: cogs -> costofGoodsAndServicesSold [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ✅ researchAndDevelopment              25/25 dates (100%)
  ✅ sellingGeneralAndAdministrative     25/25 dates (100%)
  ✅ costofGoodsAndServicesSold          25/25 dates (100%)

Plot for UPST (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00M                    28.50M                    57.01M                    85.52M                    114.02M
               |                         |                         |                         |                         |

  2019-09-30 |  8.42M
  2019-12-31 |  19.82M
  2020-03-31 |  20.47M
  2020-06-30 |  15.64M
  2020-09-30 |  19.46M
  2020-12-31 |  27.62M
  2021-03-31 |  37.41M
  2021-06-30 |  50.30M
  2021-09-30 |  69.42M
  2021-12-31 |  83.12M
  2022-03-31 |  91.86M
  2022-06-30 |  98.01M
  2022-09-30 |  92.78M
  2022-12-31 |  114.02M
  2023-03-31 |  110.07M
  2023-06-30 |  87.25M
  2023-09-30 |  90.42M
  2023-12-31 |  91.89M
  2024-03-31 |  97.02M
  2024-06-30 |  91.70M
  2024-09-30 |  99.18M
  2024-12-31 |  101.03M
  2025-03-31 |  101.06M
  2025-06-30 |  68.83M
  2025-09-30 |  64.03M

               |                         |                         |                         |                         |
               0.00M                    28.50M                    57.01M                    85.52M                    114.02M

Cash-q

Using alias: cash -> cashAndShortTermInvestments [quarterly] [balance]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ⚠️  cashAndShortTermInvestments         23/25 dates (92%)
  ⚠️  shortLongTermDebtTotal              22/25 dates (88%)
  ✅ operatingCashflow                   25/25 dates (100%)

Plot for UPST (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               -1.90B                    -0.95B                     0.00B                     0.95B                     1.90B
               |                         |                         |                         |                         |

  2019-09-30 |                                                     |  0.01B ⊗⊗
  2019-12-31 |                                                     |  0.14B
  2020-03-31 |                                                   | -0.09B ⊗
  2020-06-30 |                                                     |  0.02B ⊗⊗
  2020-09-30 |                                                     |  0.12B
  2020-12-31 |                                                     |  0.26B
  2021-03-31 |                                                     |  0.26B
  2021-06-30 |                                                     |  0.51B
  2021-09-30 |                                                     |  1.05B
  2021-12-31 |                                                    |  0.99B
  2022-03-31 |                                              |  0.87B
  2022-06-30 |                                                    |  0.96B
  2022-09-30 |                                                  |  1.02B
  2022-12-31 |                                              |  1.09B
  2023-03-31 |                                                   |  1.35B
  2023-06-30 |                                                     |  1.21B
  2023-09-30 |                                                  |  1.10B
  2023-12-31 |                                                 |  1.10B
  2024-03-31 |                                                     |  1.06B
  2024-06-30 |                                                     |  0.97B
  2024-09-30 |                                                     |  0.94B
  2024-12-31 |                                                  |  1.45B
  2025-03-31 |                                                    |  1.38B
  2025-06-30 |                                                  |  1.47B
  2025-09-30 |                                                  | 1.90B

               |                         |                         |                         |                         |
               -1.90B                    -0.95B                     0.00B                     0.95B                     1.90B

FCF-q

Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]
Using alias: capex -> capitalExpenditures [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   25/25 dates (100%)
  ✅ capitalExpenditures                 25/25 dates (100%)

Plot for UPST (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               -266.80M                  -133.40M                    0.00M                    133.40M                   266.80M
               |                         |                         |                         |                         |

  2019-09-30 |                                                     |  10.55M
  2019-12-31 |                                                     |  10.55M
  2020-03-31 |                                    |  -86.52M
  2020-06-30 |                                                     |  15.98M
  2020-09-30 |                                                     |  17.72M
  2020-12-31 |                                                     |  68.51M
  2021-03-31 |                                                     |  43.09M
  2021-06-30 |                                                     |  92.80M
  2021-09-30 |                                                     |  43.60M
  2021-12-31 |                                                |  -26.87M
  2022-03-31 | |  -266.80M
  2022-06-30 |                                           |  -53.64M
  2022-09-30 |                                 |  -101.37M
  2022-12-31 |    |  -252.88M
  2023-03-31 |                                      |  -75.73M
  2023-06-30 |                                                     |  162.38M
  2023-09-30 |                                 |  -103.43M
  2023-12-31 |                         |  -143.71M
  2024-03-31 |                                                     |  44.34M
  2024-06-30 |                                                     |  65.30M
  2024-09-30 |                                                     |  179.34M
  2024-12-31 |                               |  -110.93M
  2025-03-31 |                                                  |  -13.49M
  2025-06-30 |                              |  -120.16M
  2025-09-30 |                             |  -122.63M

               |                         |                         |                         |                         |
               -266.80M                  -133.40M                    0.00M                    133.40M                   266.80M

Assets-q

Using alias: assets -> totalAssets [quarterly] [balance]
Using alias: liabil -> totalLiabilities [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ⚠️  totalAssets                         22/25 dates (88%)
  ⚠️  totalLiabilities                    22/25 dates (88%)
  ⚠️  totalShareholderEquity              23/25 dates (92%)

Plot for UPST (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               -2.90B                    -1.45B                     0.00B                     1.45B                     2.90B
               |                         |                         |                         |                         |

  2019-12-31 |                                                    |  0.46B
  2020-03-31 |                                                     |  0.10B ⊗⊗
  2020-09-30 |                                                    |  0.36B
  2020-12-31 |                                                     |  0.48B
  2021-03-31 |                                                     |  0.49B
  2021-06-30 |                                                     |  0.90B
  2021-09-30 |                                                     |  1.61B
  2021-12-31 |                                                     |  1.82B
  2022-03-31 |                                                     |  1.99B
  2022-06-30 |                                                     |  1.92B
  2022-09-30 |                                                     |  1.92B
  2022-12-31 |                                                     |  1.94B
  2023-03-31 |                                                     |  1.82B
  2023-06-30 |                                                     |  1.76B
  2023-09-30 |                                                     |  2.00B
  2023-12-31 |                                                     |  2.02B
  2024-03-31 |                                                     |  1.93B
  2024-06-30 |                                                     |  1.82B
  2024-09-30 |                                                     |  1.81B
  2024-12-31 |                                                     |  2.37B
  2025-03-31 |                                                     |  2.30B
  2025-06-30 |                                                     |  2.48B
  2025-09-30 |                                                     | 2.90B

               |                         |                         |                         |                         |
               -2.90B                    -1.45B                     0.00B                     1.45B                     2.90B

Buffet-q

Using alias: income -> netIncome [quarterly] [income]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           25/25 dates (100%)
  ⚠️  shortLongTermDebtTotal              22/25 dates (88%)
  ⚠️  totalShareholderEquity              23/25 dates (92%)

Plot for UPST (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               -1.90B                    -0.95B                     0.00B                     0.95B                     1.90B
               |                         |                         |                         |                         |

  2019-09-30 |                                                    | -0.00B ⊗⊗
  2019-12-31 |                                                   |  0.14B
  2020-03-31 |                                                     |  0.10B ⊗
  2020-06-30 |                                                    | -0.01B ⊗⊗
  2020-09-30 |                                                    |  0.12B
  2020-12-31 |                                                     |  0.30B
  2021-03-31 |                                                     |  0.32B
  2021-06-30 |                                                     |  0.72B
  2021-09-30 |                                                     |  0.72B
  2021-12-31 |                                                     |  0.81B
  2022-03-31 |                                                     |  0.88B
  2022-06-30 |                                                    |  0.96B
  2022-09-30 |                                                   |  1.02B
  2022-12-31 |                                                   |  1.09B
  2023-03-31 |                                                 |  1.35B
  2023-06-30 |                                                    |  1.21B
  2023-09-30 |                                                    |  1.10B
  2023-12-31 |                                                    |  1.10B
  2024-03-31 |                                                   |  1.06B
  2024-06-30 |                                                    |  0.97B
  2024-09-30 |                                                    |  0.94B
  2024-12-31 |                                                    |  1.45B
  2025-03-31 |                                                    |  1.38B
  2025-06-30 |                                                     |  1.47B
  2025-09-30 |                                                     | 1.90B

               |                         |                         |                         |                         |
               -1.90B                    -0.95B                     0.00B                     0.95B                     1.90B

Price History

Volume

Advanced Chart