Upstart Financial Statements
NASDAQ: UPSTFinanceFinance: Consumer ServicesUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Upstart revenue and earnings
In fiscal 2025, Upstart generated $1.04 billion in revenue, up 64.0% from fiscal 2024, its 2nd consecutive year of revenue growth. Net income was $53.6 million, for a net margin of 5.1% versus a median of -12.9% in the prior 5 years. Operating margin was 4.1%.
Diluted earnings per share came in at $0.45. Over the last 5 fiscal years, UPST's revenue has grown at a 34.9% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
Upstart income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 |
|---|---|---|---|---|---|---|---|
| Revenue | 1.04B | 636.53M | 513.56M | 842.44M | 848.59M | 233.42M | 164.19M |
| Revenue growth (YoY) | +63.99% | +23.94% | -39.04% | -0.72% | +263.55% | +42.16% | — |
| Operating Expenses | 1.00B | 809.38M | 770.09M | 956.31M | 707.71M | 221.65M | 168.76M |
| Research & Development | 257.60M | 253.65M | 280.14M | 237.25M | 134.00M | 38.80M | 18.78M |
| Selling, General & Admin | 555.25M | 397.74M | 339.53M | 531.07M | 456.13M | 145.27M | 125.04M |
| Operating Income | 42.63M | -172.86M | -256.52M | -113.86M | 140.88M | 11.77M | -4.58M |
| Interest Expense | 31.66M | 40.43M | 34.89M | 10.84M | 3.27M | 8.03M | 26.48M |
| Other Income (Expense) | 24.32M | 18.79M | 21.21M | 9.47M | -5.17M | 5.55M | 1.04M |
| Pretax Income | 54.30M | -128.40M | -240.00M | -109.10M | 133.70M | 6.00M | -4.90M |
| Income Tax | 728.00K | 185.00K | 107.00K | -409.00K | -1.71M | 371.00K | 74.00K |
| Net Income | 53.60M | -128.58M | -240.13M | -108.67M | 135.44M | 5.98M | -466.00K |
| Net Income growth (YoY) | — | — | — | -180.23% | +2163.80% | — | — |
| 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 Outstanding (Basic) | 96.03M | 89.45M | 83.77M | 82.77M | 78.11M | 17.51M | 14.34M |
| Shares Outstanding (Diluted) | 107.49M | 89.45M | 83.77M | 82.77M | 94.77M | 17.51M | 14.34M |
| EBITDA | 67.47M | -152.31M | -231.62M | -100.35M | 148.42M | 14.04M | -3.80M |
| Operating Margin | 4.08% | -27.16% | -49.95% | -13.52% | 16.60% | 5.04% | -2.79% |
| Net Margin | 5.13% | -20.20% | -46.76% | -12.90% | 15.96% | 2.56% | -28.00% |
This table shows 7 annual periods of Upstart's income statement, from FY 2025 back to FY 2019, across 17 line items including revenue, operating expenses, research & development. Values in USD; B = billions, M = millions. Fiscal periods follow UPST's reporting calendar. What is a income statement?