UPST Upstart Holdings, Inc. - Common stock
NASDAQ · Financial Services · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 5, 2026
$22.81
· of 52w range
· above low
· to high
$22.5652w low
$55.2252w high
Market Cap (MRQ)
$2.22B
P/E (TTM)
43.9
EPS (TTM)
$0.52
Revenue (TTM)
$1.25B
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52W Range
$23–$55
Analyst Rating
BUY
Price Target
$40
P/E
43.9
ROE
7.9%
Net Profit Margin
4.8%
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UPST Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$22.81
Market Cap (MRQ)
$2.22B
P/E (TTM)
43.9
EPS (TTM)
$0.52
Revenue (TTM)
$1.25B
ROE (TTM)
7.9%
52W Range
$23–$55
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About Upstart Holdings, Inc. - Common stock Company overview from Wikipedia
Upstart is a lending platform based in San Mateo, California. It was first launched in April 2012 with an Income Share Agreement (ISA) product, which enabled individuals to raise money by contracting to share a percent of their future income. In May 2014, Upstart pivoted away from this product and toward the personal loan marketplace. With this pivot, Upstart began offering a traditional 3-year loan, and has since expanded to offer a 5-year loan product as well.
Upstart developed an income and default prediction model to determine creditworthiness of a potential borrower. This means that in addition to traditional underwriting criteria—FICO score, credit report, and income—the Upstart underwriting considers education variables—colleges attended, area of study, GPA, and standardized test scores—and work history to develop a statistical model of the borrower's financial capacity and personal propensity to repay.
Upstart raised a $1.75M seed round from First Round Capital, Kleiner Perkins Caufield & Byers, New Enterprise Associates, Google Ventures, Crunchfund and Mark Cuban. They subsequently raised a series A round of $5.9M which included new investors Eric Schmidt (Google Executive Chairman), Marc Benioff, Khosla Ventures, Correlation Ventures, Founders Fund, and Collaborative Fund. Upstart raised a Series C round of $35M from Third Point Capital in June 2015, and $32.5M from Rakuten in 2017. Upstart raised a Series D round of $50M from The Progressive Corporation in 2019.
In late 2020, Upstart went public via an initial public offering.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
sectorFinancial Services
industryFinancial Services
employees1,405
countryUS
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$1.04B2019-12-31 → 2025-12-31
EPS$0.452019-12-31 → 2025-12-31
Free Cash Flow$-148M2021-12-31 → 2025-12-31
Net margin4.8%2021-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | UPST | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 43.95Y avg ≈27.2 | ≈27.2 | 12.0 | Overvalued | |
| P/S (TTM) | 1.85Y avg ≈7.2 | ≈7.2 | 1.7 | Overvalued | |
| P/B (MRQ) | 2.85Y avg ≈7.5 | ≈7.5 | 4.0 | Overvalued | |
| Price / FCF (TTM) | -7.75Y avg ≈11.6 | ≈11.6 | · | · | |
| Price / Cash Flow (TTM) | -7.85Y avg ≈10.7 | ≈10.7 | · | · | |
| Price / Tangible Book (MRQ) | 2.85Y avg ≈8.4 | ≈8.4 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | UPST | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 4.0%5Y avg ≈-14.0% | ≈-14.0% | 17.3% | Weak | |
| EBITDA Margin (TTM) | 6.0%5Y avg ≈-11.4% | ≈-11.4% | 7.6% | Weak | |
| Net Profit Margin (TTM) | 4.8%5Y avg ≈-11.8% | ≈-11.8% | 14.1% | Weak | |
| ROA (TTM) | 2.1%5Y avg ≈-2.0% | ≈-2.0% | 3.4% | Weak | |
| ROE (TTM) | 7.9%5Y avg ≈-9.9% | ≈-9.9% | 22.6% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | UPST | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 64.0%5Y avg ≈62.3% | ≈62.3% | · | · | |
| Revenue CAGR 3Y | 7.4%5Y avg ≈9.4% | ≈9.4% | · | · | |
| Revenue CAGR 5Y | 34.9% | · | · | · | |
| Net Income CAGR 5Y | 55.0% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | UPST | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.45Y avg ≈0.4 | ≈0.4 | 0.3 | Top tier | |
| Revenue / Employee | ≈$743.0K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
16.8%
Next Report
Nov 02, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 3, 2026 | $0.57 | $0.54 | 4.6% |
| March 31, 2026 | $0.30 | $0.43 | -29.9% | |
| Dec. 31, 2025 | $0.46 | $0.47 | -2.1% | |
| Sept. 30, 2025 | $0.52 | $0.43 | 20.9% | |
| June 30, 2025 | $0.36 | $0.26 | 37.9% | |
| March 31, 2025 | $0.30 | $0.18 | 69.5% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.04B | $637M | $514M | $842M | $849M | $233M | $164M | |
| R&D Expense | $258M | $254M | $280M | $237M | $134M | $39M | $19M | |
| SG&A Expense | $254M | $231M | $212M | $185M | $123M | $46M | $32M | |
| Operating Expenses | $1.00B | $809M | $770M | $956M | $708M | $222M | $169M | |
| Operating Income | $43M | $-173M | $-257M | $-114M | $141M | $12M | $-5M | |
| Interest Expense | · | · | $35M | $11M | $3M | $8M | $26M | |
| Interest Income | $204M | $186M | $169M | $106M | $21M | $26M | $63M | |
| Other Non-op | $24M | $19M | $21M | $9M | $-5M | $6M | $1M | |
| Income Tax | $728.0K | $185.0K | $107.0K | $-409.0K | $-2M | $371.0K | $74.0K | |
| Net Income | $54M | $-129M | $-240M | $-109M | $135M | $6M | $-466.0K | |
| EPS (Basic) | $0.56 | $-1.44 | $-2.87 | $-1.31 | $1.73 | $0.00 | $-0.03 | |
| EPS (Diluted) | $0.45 | $-1.44 | $-2.87 | $-1.31 | $1.43 | $0.00 | $-0.03 | |
| Shares (Basic) | 96,030,558 | 89,450,038 | 83,765,896 | 82,771,268 | 78,106,359 | 17,513,670 | 14,335,611 | |
| Shares (Diluted) | 107,492,735 | 89,450,038 | 83,765,896 | 82,771,268 | 94,772,641 | 17,513,670 | 14,335,611 | |
| EBITDA | $67M | $-152M | $-232M | $-100M | $148M | · | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $652M | $788M | $368M | $422M | $987M | $251M | · | |
| PP&E (Net) | $44M | $39M | $43M | $44M | $24M | $10M | · | |
| PP&E (Gross) | $123M | $94M | $80M | $61M | $32M | $14M | · | |
| Accum. Depreciation | $78M | $55M | $37M | $17M | $8M | $4M | · | |
| Goodwill | $67M | $67M | $67M | $67M | $67M | $0 | · | |
| Intangibles | $8M | $9M | $11M | $16M | $20M | $0 | · | |
| Total Assets | $2.97B | $2.37B | $2.02B | $1.94B | $1.82B | $477M | · | |
| Total Liabilities | $2.18B | $1.73B | $1.38B | $1.26B | $1.01B | $177M | · | |
| Common Stock | $10.0K | $9.0K | $9.0K | $8.0K | $8.0K | $7.0K | · | |
| Paid-in Capital | $1.16B | $1.04B | $918M | $715M | $741M | $369M | · | |
| Retained Earnings | $-358M | $-411M | $-283M | $-42M | $66M | $-69M | · | |
| Stockholders' Equity | $799M | $633M | $635M | $672M | $807M | $300M | $-62M | |
| Liabilities + Equity | $2.97B | $2.37B | $2.02B | $1.94B | $1.82B | $477M | · | |
| Shares Outstanding | 98,033,361 | 93,469,721 | 86,330,303 | 81,259,676 | 83,659,665 | 73,314,026 | 14,561,398 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $25M | $21M | $25M | $14M | $8M | $2M | $774.0K | |
| Stock-based Comp | $132M | $133M | $175M | $126M | $73M | $12M | $4M | |
| Deferred Tax | $0 | $0 | $0 | $-583.0K | $-2M | $0 | $0 | |
| Other Non-cash | $-358M | $161M | $-120M | $-705M | $-46M | · | · | |
| Operating Cash Flow | $-148M | $186M | $-112M | $-658M | $168M | $16M | $32M | |
| CapEx | $347.0K | $837.0K | $2M | $9M | $8M | $1M | $4M | |
| Investing Cash Flow | $-177M | $-238M | $-118M | $-114M | $-144M | $137M | $45M | |
| Stock Issued | · | · | $0 | $0 | $264M | $0 | $0 | |
| Stock Repurchased | · | $0 | $0 | $178M | $0 | · | · | |
| Net Stock Activity | · | $0 | $0 | $-178M | $264M | · | · | |
| Financing Cash Flow | $406M | $560M | $165M | $113M | $855M | $79M | $-119M | |
| Net Change in Cash | $81M | $508M | $-65M | $-659M | $880M | $231M | $-42M | |
| Taxes Paid | $590.0K | $258.0K | $-658.0K | $328.0K | $2M | · | · | |
| Free Cash Flow | $-148M | $185M | $-162M | $-684M | $160M | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 4.1% | -27.2% | -50.0% | -13.5% | 16.6% | · | · | |
| Net Margin | 5.1% | -20.2% | -46.8% | -12.9% | 16.0% | · | · | |
| EBITDA Margin | 6.5% | -23.9% | -45.1% | -11.9% | 17.5% | · | · | |
| ROA | 2.0% | -5.9% | -12.2% | -5.8% | 11.8% | · | · | |
| ROE | 7.0% | -20.9% | -37.6% | -15.6% | 17.8% | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Interest Coverage | · | · | -7.4 | -10.5 | 43.0 | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.3 | 0.3 | 0.4 | 0.7 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $8.15 | $6.77 | $7.36 | $8.28 | $9.65 | · | · | |
| Revenue / Share | $9.71 | $7.12 | $6.13 | $10.18 | $8.95 | · | · | |
| Cash Flow / Share | $-1.37 | $2.08 | $-1.92 | $-8.15 | $1.78 | · | · | |
| Cash / Share | $6.65 | $8.44 | $4.27 | $5.20 | $11.79 | · | · | |
| EPS (TTM) | $0.45 | $-1.44 | $-2.87 | $-1.31 | $1.43 | $0.00 | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 64.0% | 23.9% | -39.0% | -0.72% | 263.6% | · | · | |
| Revenue CAGR 3Y | 7.4% | -9.1% | 30.1% | · | · | · | · | |
| Revenue CAGR 5Y | 34.9% | · | · | · | · | · | · | |
| Net Income YoY | · | · | · | · | 2163.8% | · | · | |
| Net Income CAGR 5Y | 55.0% | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.04B | $637M | $514M | $842M | $849M | $233M | · | |
| Net Income TTM | $54M | $-129M | $-240M | $-109M | $135M | $6M | · | |
| Market Cap | $4.29B | $5.75B | $3.53B | $1.07B | $12.66B | · | · | |
| P/E | 97.2 | -42.8 | -14.2 | -10.1 | 105.8 | · | · | |
| P/S | 4.1 | 9.0 | 6.9 | 1.3 | 14.9 | · | · | |
| P/B | 5.4 | 9.1 | 5.6 | 1.6 | 15.7 | · | · | |
| P / Tangible Book | 5.9 | 10.3 | 6.3 | 1.8 | 17.6 | · | · | |
| P / Cash Flow | -29.0 | 30.9 | -22.0 | -1.6 | 75.2 | · | · | |
| P / FCF | -29.0 | 31.0 | -21.8 | -1.6 | 79.1 | · | · | |
| Earnings Yield | 1.0% | -2.3% | -7.0% | -9.9% | 0.95% | 0.00% | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $365M | $308M | $296M | $277M | $257M | $213M | $219M | $162M | $128M | $128M | $140M | $135M | $136M | $103M | $147M | $157M | |
| R&D Expense | $94M | $80M | $67M | $64M | $69M | $58M | $67M | $65M | $58M | $63M | $57M | $55M | $58M | $110M | $64M | $66M | |
| SG&A Expense | $80M | $76M | $68M | $61M | $65M | $61M | $60M | $60M | $53M | $58M | $56M | $54M | $50M | $53M | $47M | $48M | |
| Operating Expenses | $350M | $316M | $277M | $253M | $253M | $218M | $224M | $207M | $183M | $195M | $188M | $178M | $169M | $235M | $205M | $215M | |
| Operating Income | $15M | $-8M | $19M | $24M | $5M | $-4M | $-5M | $-45M | $-55M | $-67M | $-48M | $-44M | $-33M | $-132M | $-58M | $-58M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $11M | · | $9M | $4M | $7M | · | $3M | |
| Interest Income | $57M | $56M | $61M | $57M | $46M | $41M | $41M | $41M | $53M | $51M | $52M | $38M | $34M | $45M | $39M | $22M | |
| Other Non-op | $3M | $956.0K | $20M | $1M | $1M | $2M | $10M | $5M | $1M | $3M | $10M | $4M | $5M | $3M | $7M | $2M | |
| Income Tax | $614.0K | $84.0K | $526.0K | $124.0K | $49.0K | $29.0K | $111.0K | $45.0K | $15.0K | $14.0K | $63.0K | $10.0K | $18.0K | $16.0K | $-464.0K | $12.0K | |
| Net Income | $17M | $-7M | $19M | $32M | $6M | $-2M | $-3M | $-7M | $-54M | $-65M | $-42M | $-40M | $-28M | $-129M | $-55M | $-56M | |
| EPS (Basic) | $0.17 | $-0.07 | $0.20 | $0.33 | $0.06 | $-0.03 | $-0.01 | $-0.07 | $-0.62 | $-0.74 | $-0.47 | $-0.48 | $-0.34 | $-1.58 | $-0.65 | $-0.69 | |
| EPS (Diluted) | $0.16 | $-0.07 | $0.20 | $0.23 | $0.05 | $-0.03 | $-0.01 | $-0.07 | $-0.62 | $-0.74 | $-0.47 | $-0.48 | $-0.34 | $-1.58 | $-0.60 | $-0.69 | |
| Shares (Basic) | 96,573,751 | 96,901,974 | · | 96,682,774 | 95,526,364 | 94,274,538 | · | 90,119,481 | 88,435,893 | 87,030,695 | · | 84,404,966 | 83,130,638 | 81,911,433 | · | 81,672,099 | |
| Shares (Diluted) | 109,720,846 | 96,901,974 | · | 109,724,669 | 102,852,284 | 94,274,538 | · | 90,119,481 | 88,435,893 | 87,030,695 | · | 84,404,966 | 83,130,638 | 81,911,433 | · | 81,672,099 | |
| EBITDA | · | $-2M | · | $24M | $5M | $2M | · | $-45M | $-55M | $-62M | · | $-44M | $-33M | $-125M | · | $-58M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $456M | $473M | $652M | $490M | $396M | $600M | $788M | $445M | $375M | $301M | · | $517M | $444M | $387M | · | $684M | |
| PP&E (Net) | $49M | $48M | $44M | $44M | $44M | $42M | $39M | $38M | $40M | $41M | · | $48M | $47M | $47M | · | $41M | |
| PP&E (Gross) | $140M | $132M | $123M | $117M | $111M | $104M | $94M | $89M | $86M | $82M | · | $78M | $73M | $69M | · | $56M | |
| Accum. Depreciation | $91M | $84M | $78M | $72M | $67M | $61M | $55M | $51M | $46M | $42M | · | $30M | $26M | $22M | · | $15M | |
| Goodwill | $67M | $67M | $67M | $67M | $67M | $67M | $67M | $67M | $67M | $67M | · | $67M | $67M | $67M | · | $67M | |
| Intangibles | $8M | $8M | $8M | $9M | $9M | $9M | $9M | $10M | $10M | $10M | · | $12M | $13M | $15M | · | $17M | |
| Total Assets | $3.17B | $2.96B | $2.97B | $2.90B | $2.48B | $2.30B | $2.37B | $1.81B | $1.82B | $1.93B | · | $2.00B | $1.76B | $1.82B | · | $1.92B | |
| Total Liabilities | $2.37B | $2.23B | $2.18B | $2.16B | $1.76B | $1.62B | $1.73B | $1.21B | $1.23B | $1.31B | · | $1.36B | $1.13B | $1.19B | · | $1.20B | |
| Common Stock | $10.0K | $10.0K | $10.0K | $10.0K | $10.0K | $10.0K | $9.0K | $9.0K | $9.0K | $9.0K | · | $9.0K | $8.0K | $8.0K | · | $8.0K | |
| Paid-in Capital | $1.15B | $1.10B | $1.16B | $1.12B | $1.13B | $1.09B | $1.04B | $1.00B | $996M | $960M | · | $881M | $838M | $799M | · | $706M | |
| Retained Earnings | $-348M | $-364M | $-358M | $-376M | $-408M | $-414M | $-411M | $-408M | $-402M | $-347M | · | $-240M | $-200M | $-172M | · | $13M | |
| Stockholders' Equity | $797M | $733M | $799M | $744M | $722M | $677M | $633M | $596M | $595M | $613M | $635M | $641M | $638M | $627M | $672M | $719M | |
| Liabilities + Equity | $3.17B | $2.96B | $2.97B | $2.90B | $2.48B | $2.30B | $2.37B | $1.81B | $1.82B | $1.93B | · | $2.00B | $1.76B | $1.82B | · | $1.92B | |
| Shares Outstanding | 97,306,813 | 95,708,872 | 98,033,361 | 97,275,544 | 96,091,343 | 95,071,582 | 93,469,721 | 90,998,255 | 89,084,180 | 87,805,393 | 86,330,303 | 85,024,889 | 83,811,484 | 82,600,748 | 81,259,676 | 81,831,178 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $7M | $6M | $6M | $6M | $6M | $6M | $5M | $5M | $5M | $6M | $9M | $5M | $4M | $6M | $4M | $4M | |
| Stock-based Comp | $44M | $35M | $32M | $34M | $36M | $30M | $30M | $34M | $34M | $36M | $33M | $36M | $33M | $74M | $34M | $37M | |
| Other Non-cash | · | $-167M | · | · | · | $-47M | · | · | · | $76M | · | · | · | $-27M | · | · | |
| Operating Cash Flow | $-137M | $-133M | $109M | $-123M | $-120M | $-13M | $-111M | $179M | $65M | $44M | $-146M | $-53M | $217M | $-76M | $-236M | $-101M | |
| CapEx | $2M | $3M | $157.0K | $75.0K | $115.0K | $0 | $0 | $116.0K | $37.0K | $684.0K | $242.0K | $135.0K | $39.0K | $1M | $2M | $2M | |
| Investing Cash Flow | $94M | $876.0K | $132M | $-121M | $-110M | $-79M | $-78M | $-46M | $-76M | $-38M | $-30M | $-24M | $-38M | $-26M | $-85M | $-24M | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Stock Repurchased | $0 | $100M | · | · | $0 | $0 | · | · | · | · | · | $0 | · | · | $28M | $25M | |
| Net Stock Activity | · | $-100M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $93M | $7M | $-20M | $379M | $92M | $-45M | $509M | $-38M | $132M | $-35M | $28M | $182M | $-121M | $21M | $24M | $41M | |
| Net Change in Cash | $51M | $-126M | $220M | $135M | $-138M | $-137M | $320M | $95M | $121M | $-29M | $-147M | $105M | $58M | $-81M | $-297M | $-84M | |
| Taxes Paid | $1M | $79.0K | $18.0K | $22.0K | $454.0K | $96.0K | $8.0K | $37.0K | $125.0K | $88.0K | $324.0K | $7.0K | $164.0K | $-1M | $122.0K | $154.0K | |
| Free Cash Flow | · | $-136M | · | · | · | $-13M | · | · | · | $52M | · | · | · | $-77M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | -2.4% | · | 8.5% | 1.8% | -2.1% | · | -27.9% | -43.5% | -52.8% | · | -32.6% | -24.6% | -128.1% | · | -37.0% | |
| Net Margin | · | -2.2% | · | 11.5% | 2.2% | -1.1% | · | -4.2% | -42.7% | -50.5% | · | -30.0% | -20.8% | -125.6% | · | -35.8% | |
| EBITDA Margin | · | -0.54% | · | 8.5% | 1.8% | 0.89% | · | -27.9% | -43.5% | -48.4% | · | -32.6% | -24.6% | -121.8% | · | -37.0% | |
| ROA | · | -0.25% | · | 1.4% | 0.26% | -0.12% | · | -0.35% | -3.0% | -3.5% | · | -2.1% | -1.5% | -6.8% | · | -3.2% | |
| ROE | · | -0.94% | · | 4.8% | 0.85% | -0.38% | · | -1.1% | -8.8% | -10.4% | · | -5.9% | -4.0% | -17.2% | · | -7.8% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | · | · | · | · | · | · | · | · | · | -6.3 | · | -4.7 | -7.8 | -18.5 | · | -19.0 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | · | $7.66 | · | $7.65 | $7.51 | $7.12 | · | $6.54 | $6.68 | $6.98 | · | $7.54 | $7.61 | $7.59 | · | $8.78 | |
| Revenue / Share | · | $3.18 | · | $2.53 | $2.50 | $2.26 | · | $1.80 | $1.44 | $1.47 | · | $1.59 | $1.63 | $1.26 | · | $1.93 | |
| Cash Flow / Share | · | $-1.38 | · | · | · | $-0.14 | · | · | · | $0.60 | · | · | · | $-0.92 | · | · | |
| Cash / Share | · | $4.94 | · | $5.04 | $4.12 | $6.31 | · | $4.89 | $4.21 | $3.42 | · | $6.08 | $5.29 | $4.68 | · | $8.36 | |
| EPS (TTM) | $0.37 | $0.41 | · | $0.24 | $-0.06 | $-0.73 | · | $-1.90 | $-2.31 | $-2.03 | · | $-3.00 | $-3.21 | $-3.23 | · | $-0.08 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.21B | $1.14B | · | $967M | $852M | $722M | · | $558M | $530M | $538M | · | $520M | $543M | $635M | · | $1.00B | |
| Net Income TTM | $47M | $49M | · | $32M | $-6M | $-66M | · | $-168M | $-202M | $-175M | · | $-253M | $-269M | $-271M | · | $6M | |
| Market Cap | · | $2.45B | · | $4.94B | $6.22B | $4.38B | · | $3.64B | $2.10B | $2.36B | · | $2.43B | $3.00B | $1.31B | · | $1.70B | |
| P/E | 95.8 | 62.6 | · | 211.7 | -1078.0 | -63.1 | · | -21.1 | -10.2 | -13.2 | · | -9.5 | -11.2 | -4.9 | · | -259.9 | |
| P/S | · | 2.2 | · | 5.1 | 7.3 | 6.1 | · | 6.5 | 4.0 | 4.4 | · | 4.7 | 5.5 | 2.1 | · | 1.7 | |
| P/B | · | 3.3 | · | 6.6 | 8.6 | 6.5 | · | 6.1 | 3.5 | 3.9 | · | 3.8 | 4.7 | 2.1 | · | 2.4 | |
| P / Tangible Book | 4.8 | 3.7 | · | 7.4 | 9.6 | 7.3 | · | 7.0 | 4.1 | 4.4 | · | 4.3 | 5.4 | 2.4 | · | 2.7 | |
| P / Cash Flow | · | -18.4 | · | · | · | -324.5 | · | · | · | 44.9 | · | · | · | -17.3 | · | · | |
| Earnings Yield | 1.0% | 1.6% | · | 0.47% | -0.09% | -1.6% | · | -4.8% | -9.8% | -7.5% | · | -10.5% | -9.0% | -20.3% | · | -0.38% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $1.04B | $637M | $514M | $842M | $849M |
| Operating Margin % | 4.1% | -27.2% | -50.0% | -13.5% | 16.6% |
| Net Income | $54M | $-129M | $-240M | $-109M | $135M |
| Diluted EPS | $0.45 | $-1.44 | $-2.87 | $-1.31 | $1.43 |
No data for this statement
Not enough fundamentals data to build this statement yet.
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-148M | $185M | $-162M | $-684M | $160M |
Institutional owners (13F) 444 filers · $3.1B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
444
Value held
$3.1B
New positions
76
Exited positions
41
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 76 (+13 vs prior Q) | 41 (-52 vs prior Q) | 135 (-12 vs prior Q) | 121 (+8 vs prior Q) | +1.5M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $353,061,109 | 8,073,659 | 11.52% | Shares |
| BlackRock, Inc. | $279,142,942 | 7,878,717 | 9.11% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $132,499,626 | 3,739,758 | 4.33% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $131,039,733 | 3,698,553 | 4.28% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $108,401,628 | 3,059,600 | 3.54% | Call option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $91,745,985 | 2,589,500 | 2.99% | Put option |
| MORGAN STANLEY | $85,553,247 | 2,414,712 | 2.79% | Shares |
| GOLDMAN SACHS GROUP INC | $84,862,705 | 2,395,222 | 2.77% | Shares |
| MARSHALL WACE, LLP | $83,993,547 | 2,370,690 | 2.74% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $78,974,444 | 2,228,631 | 2.58% | Shares |
| STATE STREET CORP | $75,057,286 | 2,118,467 | 2.45% | Shares |
| Clear Street Group Inc. | $64,803,702 | 1,829,063 | 2.12% | Shares |
| Halter Ferguson Financial Inc. | $61,935,857 | 1,748,119 | 2.02% | Shares |
| JANE STREET GROUP, LLC | $60,975,030 | 1,721,000 | 1.99% | Put option |
| CITADEL ADVISORS LLC | $56,985,612 | 1,608,400 | 1.86% | Call option |
| BANK OF AMERICA CORP /DE/ | $53,582,773 | 1,512,356 | 1.75% | Shares |
| UBS Group AG | $53,266,738 | 1,503,436 | 1.74% | Shares |
| JANE STREET GROUP, LLC | $50,643,642 | 1,429,400 | 1.65% | Call option |
| WOLVERINE TRADING, LLC | $48,088,332 | 911,800 | 1.57% | Call option |
| CITIGROUP INC | $40,237,213 | 1,135,682 | 1.31% | Shares |
| BARCLAYS PLC | $39,999,584 | 1,128,975 | 1.31% | Shares |
| BAILLIE GIFFORD & CO | $38,376,253 | 1,083,157 | 1.25% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $37,547,436 | 1,059,769 | 1.23% | Shares |
| CITADEL ADVISORS LLC | $33,856,377 | 955,585 | 1.11% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $32,604,564 | 920,253 | 1.06% | Shares |
| CITADEL ADVISORS LLC | $31,589,388 | 891,600 | 1.03% | Put option |
| Point72 Asset Management, L.P. | $31,361,183 | 885,159 | 1.02% | Shares |
| COATUE MANAGEMENT LLC | $30,857,652 | 870,947 | 1.01% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $28,379,217 | 800,994 | 0.93% | Shares |
| D. E. Shaw & Co., Inc. | $28,103,076 | 793,200 | 0.92% | Call option |
| NORTHERN TRUST CORP | $27,816,163 | 785,102 | 0.91% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $27,113,906 | 765,281 | 0.89% | Shares |
| MILLENNIUM MANAGEMENT LLC | $27,098,529 | 764,847 | 0.88% | Shares |
| FMR LLC | $25,033,004 | 706,548 | 0.82% | Shares |
| WOLVERINE TRADING, LLC | $23,226,696 | 440,400 | 0.76% | Put option |
| VANGUARD FIDUCIARY TRUST CO | $21,373,396 | 603,257 | 0.70% | Shares |
| Balyasny Asset Management L.P. | $19,725,971 | 556,759 | 0.64% | Shares |
| HSBC HOLDINGS PLC | $18,300,044 | 508,900 | 0.60% | Call option |
| PEAK6 LLC | $16,683,987 | 470,900 | 0.54% | Put option |
| Walleye Capital LLC | $15,912,711 | 449,131 | 0.52% | Shares |
| FIRST TRUST ADVISORS LP | $13,429,954 | 379,056 | 0.44% | Shares |
| D. E. Shaw & Co., Inc. | $12,832,746 | 362,200 | 0.42% | Put option |
| Pathstone Holdings, LLC | $11,878,899 | 335,278 | 0.39% | Shares |
| Squarepoint Ops LLC | $11,695,939 | 330,114 | 0.38% | Shares |
| FRED ALGER MANAGEMENT, LLC | $10,746,805 | 303,325 | 0.35% | Shares |
| Hidden Lake Asset Management LP | $9,977,584 | 281,614 | 0.33% | Shares |
| Bank of New York Mellon Corp | $9,681,085 | 273,245 | 0.32% | Shares |
| Nuveen, LLC | $9,514,621 | 268,547 | 0.31% | Shares |
| Caption Management, LLC | $8,857,500 | 250,000 | 0.29% | Call option |
| Alberta Investment Management Corp | $8,460,684 | 238,800 | 0.28% | Shares |
Company insiders 16 insiders · 7 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Paul Gu | Chief Executive Officer | Sept. 10, 2026 P | 130,000 | 4 | 0 | $6,575,300 |
| Andrea Blankmeyer | Chief Financial Officer | Aug. 19, 2026 S | 152,208 | 0 | 5 | $-507,363 |
| Sanjay Datta | President, Capital& Enterprise | Sept. 8, 2026 M | 476,578 | 0 | 11 | $-5,267,388 |
| Natalia Mirgorodskaya | Chief Accounting Officer and Controller | Aug. 25, 2026 S | 35,875 | 0 | 10 | $-200,965 |
| Scott Darling | Chief Legal Officer | Aug. 20, 2026 S | 73,306 | 0 | 12 | $-1,414,721 |
| Alison Nicoll | General Counsel and Secretary | June 24, 2022 M | 412,983 | 0 | 0 | $0 |
| Anna M. Counselman | SVP, People and Operations | Feb. 20, 2022 A | 19,143 | 0 | 0 | $0 |
| Peter J Bernard | Director | May 29, 2026 A | 11,392 | 0 | 0 | $0 |
| Ciaran O'Kelly | Director | May 29, 2026 A | 39,484 | 0 | 0 | $0 |
| Mary Hentges | Director | May 29, 2026 A | 37,149 | 0 | 0 | $0 |
| Kerry Whorton Cooper | Director | May 29, 2026 A | 6,476 | 0 | 1 | $-75,000 |
| Hilliard C. Terry III | Director | May 29, 2026 A | 37,432 | 0 | 0 | $0 |
| Timothy H Wennes | Director | May 29, 2026 A | 6,476 | 0 | 0 | $0 |
| Dave Girouard | Director | May 7, 2026 M | 9,348,016 | 2 | 0 | $5,000,066 |
| Jeff Huber | Director | May 27, 2025 A | 29,671 | 0 | 0 | $0 |
| Cassidy Sukhinder Singh | Director | Dec. 2, 2024 M | 8,278 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 32 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| FYC · First Trust Exchange-Traded AlphaDE… | 0.31% | 145,809 NS | July 31, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.18% | 91,282 SH | Aug. 19, 2026 | Daily |
| IWO · iShares Trust | 0.14% | 811,069 SH | Sept. 11, 2026 | Daily |
| BKSE · BNY Mellon ETF Trust | 0.10% | 3,228 NS | July 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.09% | 492,357 SH | Aug. 19, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.09% | 22,603 NS | July 31, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.08% | 1,070,193 SH | Aug. 19, 2026 | Daily |
| RSSL · Global X Funds | 0.08% | 40,971 NS | July 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.07% | 27,161 SH | Sept. 11, 2026 | Daily |
| IWM · iShares Trust | 0.07% | 2,197,618 SH | Sept. 11, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.07% | 76,982 SH | Oct. 2, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.06% | 13,210 NS | July 31, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.05% | 24,621 NS | July 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.05% | 268,504 NS | July 31, 2026 | N-PORT |
| ESML · iShares Trust | 0.04% | 48,843 SH | Sept. 11, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.04% | 4,211 SH | Oct. 2, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.03% | 967,149 SH | Aug. 19, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.03% | 1,859,762 SH | Aug. 19, 2026 | Daily |
| VFH · VANGUARD WORLD FUND | 0.03% | 135,095 SH | Aug. 19, 2026 | Daily |
| FNCL · FIDELITY COVINGTON TRUST | 0.03% | 21,806 NS | July 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.02% | 5,107 SH | Sept. 11, 2026 | Daily |
| TECB · iShares Trust | 0.01% | 2,672 SH | Sept. 11, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.01% | 18,892 SH | Aug. 19, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 122,084 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 23,327 SH | Sept. 11, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.00% | 1,194 NS | July 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 16,131 NS | July 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.00% | 316 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 2,576,682 SH | Aug. 19, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 70,548 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 7,204 SH | Aug. 19, 2026 | Daily |
| ISCB · iShares Trust | · | 3,904 SH | Sept. 11, 2026 | Daily |
UPST Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 21 analysts
BUY
Median target
$39.50
+73.2%
4 19.0%
Strong Buy
9 42.9%
Buy
7 33.3%
Hold
1 4.8%
Sell
0 0.0%
Strong Sell
12-Month Price Target
16 analysts · 2026-10-01Mean target $40.00 +75.4%
Now
Current price $22.81
Low$20.00
Mean$40.00
High$61.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| UPST | $4.29B | 97.2 | 64.0% | 5.1% | 7.0% | · |
| NNI | · | 11.3 | 21.1% | 120.9% | 12.2% | · |
| DAVE | · | · | · | · | · | · |
| ENVA | $3.89B | 13.6 | 18.6% | 9.8% | 24.3% | 58.1% |
| SLM | $5.39B | 7.8 | 7.3% | 37.5% | 30.9% | · |
| BFH | $3.26B | 6.8 | · | 12.8% | 16.0% | · |
| ECPG | $1.18B | 5.0 | 34.4% | 14.5% | 27.4% | · |
| EZPW | $1.16B | 13.4 | 9.7% | 8.6% | 11.7% | 58.6% |
| HAPN | · | · | · | · | · | · |
| ATLC | · | · | · | · | · | · |
| PRG | $2.42B | 8.2 | 0.42% | 6.1% | 20.8% | · |
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Source: SEC 10-Q/A filed Aug 5, 2026