Loading…
Upstart Holdings, Inc., together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. The company operates through three segments: Personal Lending, Auto Lending, and Other. Its platform includes unsecured personal loans, small dollar loans, auto refinance, auto retail loans, and auto secured personal loan, and home equity lines of credit. Upstart Holdings, Inc. was founded in 2012 and is headquartered in San Mateo, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.0B | - | $54M | $-166M | 6.7% | 62.8% | - |
| 2024 | $629M | - | $-129M | $176M | -20.3% | 23.8% | - |
| 2023 | $508M | - | $-240M | $-124M | -37.8% | -39.3% | - |
| 2022 | $838M | - | $-109M | $-681M | -16.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 837.76 | 508.12 | 628.83 | 1,023.99 |
| Pretax Income | -109.07 | -240.03 | -128.40 | 54.33 |
| Tax Provision | -0.41 | 0.11 | 0.18 | 0.73 |
| Net Income | -108.67 | -240.13 | -128.58 | 53.60 |
| Net Income Common Stockholders | -108.67 | -240.13 | -128.58 | 53.60 |
| Interest Expense | 15.53 | 39.60 | 48.13 | 51.54 |
| Interest Income | 105.58 | 169 | 186.36 | 204.23 |
| Selling General And Administration | 719.06 | 489.95 | 555.73 | 743.62 |
| Normalized Income | -108.67 | -228.44 | -151.47 | 46.45 |
| Basic EPS | -1.31 | -2.87 | -1.44 | 0.56 |
| Diluted EPS | -1.31 | -2.87 | -1.44 | 0.45 |
| Tax Effect Of Unusual Items | 0 | -3.11 | 6.09 | 0.10 |
| Tax Rate For Calcs | 0 | 0.21 | 0.21 | 0.01 |
| Total Unusual Items | 0 | -14.80 | 28.98 | 7.25 |
| Total Unusual Items Excluding Goodwill | 0 | -14.80 | 28.98 | 7.25 |
| Net Income From Continuing Operation Net Minority Interest | -108.67 | -240.13 | -128.58 | 53.60 |
| Reconciled Depreciation | 13.51 | 24.90 | 20.55 | 24.84 |
| Net Interest Income | 90.05 | 129.40 | 138.23 | 152.69 |
| Net Income From Continuing And Discontinued Operation | -108.67 | -240.13 | -128.58 | 53.60 |
| Diluted Average Shares | 82.77 | 83.77 | 89.45 | 107.49 |
| Basic Average Shares | 82.77 | 83.77 | 89.45 | 96.03 |
| Diluted NI Availto Com Stockholders | -108.67 | -240.13 | -128.58 | 48.72 |
| Average Dilution Earnings | 0 | 0 | 0 | -4.88 |
| Minority Interests | 0 | 0 | 0 | 0 |
| Net Income Including Noncontrolling Interests | -108.67 | -240.13 | -128.58 | 53.60 |
| Net Income Continuous Operations | -108.67 | -240.13 | -128.58 | 53.60 |
| Other Non Operating Income Expenses | 9.47 | 21.21 | 18.79 | 24.32 |
| Special Income Charges | 0 | -14.80 | 28.98 | 7.25 |
| Other Special Charges | 0 | -0.74 | 0 | 0 |
| Restructuring And Mergern Acquisition | 0 | 15.54 | 4.38 | 0 |
| Gain On Sale Of Security | -159.56 | -180.97 | -144.87 | -78.72 |
| Selling And Marketing Expense | 345.78 | 127.14 | 166.80 | 301.51 |
| General And Administrative Expense | 373.28 | 362.81 | 388.93 | 442.12 |
| Other Gand A | 185.29 | 212.39 | 230.94 | 253.74 |
| Salaries And Wages | 187.99 | 150.42 | 158 | 188.38 |
| Operating Revenue | 837.76 | 508.12 | 628.83 | 1,023.99 |
| Other Non Interest Expense | 237.25 | 264.60 | 249.27 | 257.60 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Upstart Holdings, Inc.this co. | UPST | $2.9B | 67.73↑ premium | 3.74 | 6.7% | 42.65 |
| Mechanics Bancorp | MCHB | $3.4B | 12.44 | 1.17 | 9.3% | - |
| WesBanco, Inc. | WSBC | $3.3B | 10.41 | 0.86 | 5.5% | - |
| TowneBank | TOWN | $3.2B | 15.81 | 1.10 | 7.0% | - |
| Hamilton Insurance Group, Ltd. | HG | $3.2B |
| 5.76 |
| 1.12 |
| 20.4% |
| 2.37 |
| Nicolet Bankshares, Inc. | NIC | $3.1B | 16.94 | 1.70 | 12.0% | - |
| DigitalBridge Group, Inc. | DBRG | $3.0B | 29.36 | 2.17 | 5.8% | -166.42 |
| First Merchants Corporation | FRME | $2.5B | 11.75 | 0.94 | 9.2% | - |
| The Baldwin Insurance Group, Inc. | BWIN | $2.3B | - | 2.79 | -3.1% | 20.43 |
| Peer Median | - | 12.44 | 1.15 | 8.1% | 2.37 | |