Upstart Holdings, Inc.
Income Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $364.7M | $308.2M | $296.1M | $277.1M | $257.3M | $213.4M | $219.0M | $162.1M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | $93.9M | $80.1M | $66.9M | $64.0M | $68.8M | $57.8M | $67.2M | $64.9M |
| SG&A Expense | $80.4M | $76.1M | $67.8M | $60.8M | $64.6M | $60.6M | $60.4M | $59.9M |
| Operating Income | $14.6M | $-7.5M | $18.9M | $23.7M | $4.5M | $-4.5M | $-4.8M | $-45.2M |
| Operating Margin | 4.0% | -2.4% | 6.4% | 8.5% | 1.8% | -2.1% | -2.2% | -27.8% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | — | — | — | — | — | — | — | — |
| Income Tax Expense | $614.0K | $84.0K | $526.0K | $124.0K | $49.0K | $29.0K | $111.0K | $45.0K |
| Net Income | $16.5M | $-6.6M | $18.6M | $31.8M | $5.6M | $-2.4M | $-2.8M | $-6.8M |
| Net Margin | 4.5% | -2.2% | 6.3% | 11.5% | 2.2% | -1.1% | -1.3% | -4.2% |
| EPS (Basic) | $0.17 | $-0.07 | $0.20 | $0.33 | $0.06 | $-0.03 | $-0.01 | $-0.07 |
| EPS (Diluted) | $0.16 | $-0.07 | $0.20 | $0.23 | $0.05 | $-0.03 | $-0.01 | $-0.07 |
| Shares Outstanding (Basic) | 96.6M | 96.9M | 96.0M | 96.7M | 95.5M | 94.3M | 89.5M | 90.1M |
| Shares Outstanding (Diluted) | 109.7M | 96.9M | 107.5M | 109.7M | 102.9M | 94.3M | 89.5M | 90.1M |
| Dividends Per Share | — | — | — | — | — | — | — | — |