Upstart Quarterly Cash Flow Statement
NASDAQ: UPSTFinanceFinance: Consumer ServicesUSD
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At close: Oct 9, 4:00 PM ET · Delayed 15 min
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Upstart free cash flow
In the quarter ended Jun 30, 2026, Upstart generated -$136.6 million of operating cash flow and spent $2.1 million on capital expenditures. That left free cash flow of -$138.7 million, a free-cash-flow margin of -38.0% of revenue.
Summary generated from market data by MetaCap's automated system. Methodology
Upstart cash flow statement (quarterly)
| Quarter (USD) | Q2 20262026-06-30 | Q1 20262026-03-31 | Q4 20252025-12-31 | Q3 20252025-09-30 | Q2 20252025-06-30 | Q1 20252025-03-31 | Q4 20242024-12-31 | Q3 20242024-09-30 | Q2 20242024-06-30 | Q1 20242024-03-31 | Q4 20232023-12-31 | Q3 20232023-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 16.54M | -6.65M | 18.64M | 31.80M | 5.61M | -2.45M | -2.75M | -6.76M | -54.47M | -64.60M | -42.40M | -40.31M |
| Net Income growth (YoY) | +194.97% | — | — | — | — | — | — | — | — | — | — | — |
| Depreciation & Amortization | 7.13M | 5.86M | 6.46M | 6.13M | 5.84M | 6.40M | 4.70M | 5.39M | 4.83M | 5.63M | 9.10M | 4.93M |
| Stock-Based Compensation | 44.47M | 34.81M | 32.45M | 34.16M | 35.51M | 29.83M | 29.80M | 33.62M | 34.21M | 35.78M | 32.77M | 35.57M |
| Change in Working Capital | -9.46M | 4.37M | -14.66M | -239.00K | -2.37M | 6.44M | -6.58M | -7.83M | 6.55M | -825.00K | -3.39M | 3.94M |
| Operating Cash Flow | -136.63M | -133.30M | 108.55M | -122.63M | -120.16M | -13.49M | -110.93M | 179.34M | 73.58M | 44.34M | -145.60M | -107.71M |
| Capital Expenditures | -2.06M | -2.75M | -157.00K | -75.00K | -115.00K | 0 | 0 | -116.00K | -37.00K | -684.00K | -242.00K | -135.00K |
| Investing Cash Flow | 94.08M | 876.00K | 131.74M | -120.51M | -109.83M | -78.57M | -77.91M | -46.17M | -76.10M | -37.55M | -29.89M | -24.22M |
| Share Repurchases | 0 | -100.06M | — | — | 0 | 0 | — | — | — | — | 0 | 0 |
| Debt Issued | — | — | — | — | — | — | — | — | 173.25M | 74.26M | 97.42M | 189.12M |
| Debt Repaid | — | — | — | — | — | — | — | — | -44.82M | -110.17M | -61.15M | -117.15M |
| Financing Cash Flow | 93.49M | 6.74M | -20.18M | 378.58M | 91.93M | -44.68M | 509.33M | -38.02M | 123.99M | -35.43M | 28.25M | 237.06M |
| Net Change in Cash | 50.94M | -125.68M | 220.11M | 135.44M | -138.07M | -136.74M | 320.50M | 95.15M | 121.47M | -28.64M | -147.24M | 105.14M |
| Free Cash Flow | -138.69M | -136.05M | 108.39M | -122.70M | -120.28M | -13.49M | -110.93M | 179.22M | 73.54M | 43.65M | -145.84M | -107.84M |
This table shows 12 quarterly periods of Upstart's cash flow statement, from Q2 2026 back to Q3 2023, across 13 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow UPST's reporting calendar. What is a cash flow statement?