Upstart Holdings, Inc.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $1.04B | $636.5M | $513.6M | $842.4M | $848.6M | $233.4M | $164.2M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | $257.6M | $253.7M | $280.1M | $237.2M | $134.0M | $38.8M | $18.8M |
| SG&A Expense | — | $253.7M | $230.9M | $212.4M | $185.3M | $122.7M | $45.6M | $31.9M |
| Operating Income | — | $42.6M | $-172.9M | $-256.5M | $-113.9M | $140.9M | $11.8M | $-4.6M |
| Operating Margin | — | 4.1% | -27.2% | -50.0% | -13.5% | 16.6% | 5.0% | -2.8% |
| Interest Expense | — | — | — | $34.9M | $10.8M | $3.3M | $8.0M | $26.5M |
| Pretax Income | — | — | — | — | — | — | — | — |
| Income Tax Expense | — | $728.0K | $185.0K | $107.0K | $-409.0K | $-1.7M | $371.0K | $74.0K |
| Net Income | — | $53.6M | $-128.6M | $-240.1M | $-108.7M | $135.4M | $6.0M | $-466.0K |
| Net Margin | — | 5.1% | -20.2% | -46.8% | -12.9% | 16.0% | 2.6% | -0.3% |
| EPS (Basic) | — | $0.56 | $-1.44 | $-2.87 | $-1.31 | $1.73 | $0.00 | $-0.01 |
| EPS (Diluted) | — | $0.45 | $-1.44 | $-2.87 | $-1.31 | $1.43 | $0.00 | $-0.01 |
| Shares Outstanding (Basic) | 98.1M | 96.0M | 89.5M | 83.8M | 82.8M | 78.1M | 87.6M | 71.7M |
| Shares Outstanding (Diluted) | 98.1M | 107.5M | 89.5M | 83.8M | 82.8M | 94.8M | 87.6M | 71.7M |
| Dividends Per Share | — | — | — | — | — | — | — | — |