UPST
$23.65+1.72%
Upstart Holdings Inc.Stock · FinancialsRussell 2000 · 0.09% of IWMNasdaq Composite · 0.007% of ONEQRussell 3000 · 0.004% of IWVUS Stock Market · 0.004% of VTI
UPST financial statements
The full income statement, balance sheet, and cash-flow statement for Upstart Holdings Inc. (UPST), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 89.5M2024-09 91.2M2024-12 93.7M2025-03 95.1M2025-06 96.2M2025-09 97.3M2025-12 98.1M2026-03 95.7M2026-06 97.3M+8.7% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 1.04B+64.0% | 637M+23.9% | 514M-43.4% | 907M+6.9% | 849M+271.2% | |
| 1.00B+23.7% | 809M+5.1% | 770M-19.5% | 956M+35.1% | 708M+219.3% | ||
| Research & development | 258M+1.6% | 254M-9.5% | 280M+18.1% | 237M+77.1% | 134M+245.3% | |
| Selling, general & administrative | 254M+9.9% | 231M+8.7% | 212M+14.6% | 185M+51.0% | 123M+169.0% | |
| General & administrative | 254M+9.9% | 231M+8.7% | 212M+14.6% | 185M+51.0% | 123M+169.0% | |
| Selling & marketing | 302M+80.8% | 167M+31.2% | 127M-63.2% | 346M+3.7% | 333M+234.6% | |
| Operating income | 42.6M+124.7% | -173M+32.6% | -257M-125.3% | -114M-180.8% | 141M+1097.5% | |
| Interest expense | — | — | 34.9M+221.8% | 10.8M+231.2% | 3.27M-59.2% | |
| Interest & investment income | 204M+9.6% | 186M+10.3% | 169M+60.1% | 106M+411.7% | 20.6M-21.9% | |
| Net interest income | 93.8M+8736.7% | 1.06M+102.3% | -46.9M+27.7% | -64.8M-237.0% | 47.3M | |
| Other non-operating income | 24.3M+29.4% | 18.8M-11.4% | 21.2M+123.9% | 9.47M+283.1% | -5.17M-193.2% | |
| Income tax | 728K+293.5% | 185K+72.9% | 107K+126.2% | -409K+76.1% | -1.71M-561.5% | |
| 53.6M+141.7% | -129M+46.5% | -240M-121.0% | -109M-180.2% | 135M+2163.8% | ||
| Net income to non-controlling interest | — | — | — | 0.00 | 0.00+100.0% | |
| Net income to common | 53.6M+141.7% | -129M+46.5% | -240M-121.0% | -109M-180.2% | 135M | |
| $0.45+131.3% | -$1.44+49.8% | -$2.87-119.1% | -$1.31-191.6% | $1.43 | ||
| EPS (basic) | $0.56+138.9% | -$1.44+49.8% | -$2.87-119.1% | -$1.31-175.7% | $1.73 | |
| Weighted-avg shares (basic) | 96.0M+7.4% | 89.5M+6.8% | 83.8M+1.2% | 82.8M+6.0% | 78.1M+346.0% | |
| Weighted-avg shares (diluted) | 107M+20.2% | 89.5M+6.8% | 83.8M+1.2% | 82.8M-12.7% | 94.8M+441.1% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 652M-17.3% | 788M+114.0% | 368M-30.8% | 532M-55.3% | 1.19B+282.6% | |
| 2.97B+25.7% | 2.37B+17.3% | 2.02B+4.2% | 1.94B+6.4% | 1.82B+281.4% | ||
| Property, plant & equipment | 44.2M+13.2% | 39.0M-8.5% | 42.7M-3.4% | 44.2M+82.1% | 24.3M+141.8% | |
| Operating lease right-of-use | 16.4M-62.2% | 43.5M-20.5% | 54.7M-36.6% | 86.3M-10.2% | 96.1M+424.9% | |
| Goodwill | 67.1M+0.0% | 67.1M+0.0% | 67.1M+0.0% | 67.1M+0.0% | 67.1M | |
| Intangible assets | 8.29M-12.1% | 9.43M-17.0% | 11.4M-27.3% | 15.6M-21.5% | 19.9M | |
| 2.18B+25.5% | 1.73B+25.5% | 1.38B+9.4% | 1.26B+24.7% | 1.01B+472.5% | ||
| Operating lease liability (total) | 21.1M-57.9% | 50.3M-19.3% | 62.3M-38.2% | 101M+0.4% | 100M+416.5% | |
| Finance lease liability (total) | — | — | 0.00 | 0.00 | — | |
| 799M+26.2% | 633M-0.3% | 635M-5.5% | 672M-16.7% | 807M+168.8% | ||
| Common stock | 10.0K+11.1% | 9.00K+0.0% | 9.00K+12.5% | 8.00K+0.0% | 8.00K+14.3% | |
| Additional paid-in capital | 1.16B+10.7% | 1.04B+13.8% | 918M+28.4% | 715M-3.5% | 741M+100.5% | |
| Retained earnings | -358M+13.0% | -411M-45.5% | -283M-565.8% | -42.4M-164.1% | 66.2M+195.7% | |
| Total equity incl. non-controlling | — | — | — | — | 807M+168.8% | |
| Total liabilities & equity | 2.97B+25.7% | 2.37B+17.3% | 2.02B+4.2% | 1.94B+6.4% | 1.82B+281.4% | |
| Common shares issued | 98.0M+4.9% | 93.5M+8.3% | 86.3M+6.2% | 81.3M-2.9% | 83.7M+14.1% | |
| Common shares outstanding | 98.0M+4.9% | 93.5M+8.3% | 86.3M+6.2% | 81.3M-2.9% | 83.7M+14.1% | |
| Shares outstanding (cover) | 98.1M+4.6% | 93.7M+8.4% | 86.4M+6.2% | 81.4M-3.2% | 84.1M | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| -148M-179.3% | 186M+266.8% | -112M+83.0% | -658M-490.8% | 168M+972.5% | ||
| Depreciation & amortization | 24.8M+20.9% | 20.5M-17.5% | 24.9M+84.3% | 13.5M+79.2% | 7.54M+231.0% | |
| Share-based compensation | 132M-1.1% | 133M-23.8% | 175M+39.0% | 126M+72.1% | 73.2M+535.7% | |
| Deferred income taxes | 0.00 | 0.00 | 0.00+100.0% | -583K+70.0% | -1.94M | |
| -177M+25.5% | -238M-100.7% | -118M-3.8% | -114M+20.7% | -144M-205.4% | ||
| Capital expenditure | 347K-58.5% | 837K-45.2% | 1.53M-82.7% | 8.82M+4.7% | 8.43M+521.9% | |
| Free cash flow | -148M-179.8% | 185M+263.8% | -113M+83.0% | -667M-516.9% | 160M+1015.1% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00-100.0% | 16.8M | |
| 406M-27.5% | 560M+238.3% | 165M+46.2% | 113M-86.8% | 855M+982.1% | ||
| Long-term debt issued | 0.00 | 0.00-100.0% | 627M-9.0% | 689M-4.1% | 718M+680.4% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00-100.0% | 264M | |
| Common stock repurchased | 0.00 | 0.00 | 0.00-100.0% | 178M | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net change in cash | 80.7M-84.1% | 508M+886.1% | -64.7M+90.2% | -659M-174.9% | 880M+280.5% | |
| Interest paid | 43.5M+0.8% | 43.1M+18.0% | 36.5M+193.0% | 12.5M+281.0% | 3.27M-59.2% | |
| Income taxes paid | 590K+128.7% | 258K+139.2% | -658K-300.6% | 328K-85.7% | 2.30M | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 4.29B-25.7% | 5.77B+66.0% | 3.48B+221.1% | 1.08B-91.5% | 12.7B+325.7% | |
| P/E | 80.0× | — | — | 195.3×+108.0% | 93.9×-81.2% | |
| P/S | 4.1×-54.7% | 9.1×+46.9% | 6.2×+383.8% | 1.3×-91.5% | 15.0×+14.7% | |
| P/B | 5.4×-41.1% | 9.1×+68.0% | 5.4×+260.1% | 1.5×-90.4% | 15.8×+58.4% | |
| P/FCF | — | 31.1× | — | — | 79.5×-61.8% | |
| Earnings yield | 1.2% | — | — | 0.51%-51.9% | 1.1%+431.8% | |
| FCF yield | — | 3.2% | — | — | 1.3%+161.9% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: UPST’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all UPST filings on SEC EDGAR → Not investment advice.