7 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | $1.0B | $54M | 0.0% | 4.1% | 6.7% | 1.8% | -$148M | $1.8B | $652M |
| 2024 | $637M | -$129M | 0.0% | -27.2% | -20.3% | -5.4% | $185M | $1.4B | $788M |
| 2023 | $514M | -$240M | 0.0% | -50.0% | -37.8% | -11.9% | -$113M | $1.0B | $368M |
| 2022 | $842M | -$109M | 0.0% | -13.5% | -16.2% | -5.6% | -$667M | $986M | — |
| 2021 | $849M | $135M | 0.0% | 16.6% | 16.8% | 7.4% | $160M | $695M | — |
| 2020 | $233M | $6M | 0.0% | 5.0% | 2.0% | 1.3% | $14M | $63M | — |
| 2019 | $164M | -$466000 | 0.0% | -2.8% | 0.8% | — | $28M | — | — |
| Quarter | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| Jun '26 | $365M | $17M | 0.0% | 4.0% | 2.1% | 0.5% | -$139M | $2.0B | $456M |
| Mar '26 | $308M | -$7M | 0.0% | -2.4% | -0.9% | -0.2% | -$136M | $1.9B | $473M |
| Dec '25 | $296M | $19M | 0.0% | 6.4% | 2.3% | 0.6% | $108M | $1.8B | $652M |
| Sep '25 | $277M | $32M | 0.0% | 8.5% | 4.3% | 1.1% | -$123M | $1.9B | $490M |
| Jun '25 | $257M | $6M | 0.0% | 1.8% | 0.8% | 0.2% | -$120M | $1.4B | $396M |
| Mar '25 | $213M | -$2M | 0.0% | -2.1% | -0.4% | -0.1% | -$13M | $1.3B | $600M |
| Dec '24 | $219M | -$3M | 0.0% | -2.2% | -0.4% | -0.1% | -$111M | $1.4B | $788M |
| Sep '24 | $162M | -$7M | 0.0% | -27.8% | -1.1% | -0.4% | $179M | $887M | — |
| Jun '24 | $128M | -$54M | 0.0% | -43.5% | -9.2% | -3.0% | $74M | $913M | — |
| Mar '24 | $128M | -$65M | 0.0% | -52.8% | -10.5% | -3.4% | $44M | $1.0B | — |
| Dec '23 | $140M | -$42M | 0.0% | -33.9% | -6.7% | -2.1% | -$146M | $1.0B | $368M |
| Sep '23 | $135M | -$40M | 0.0% | -32.6% | -6.3% | -2.0% | -$108M | $1.0B | — |
| Jun '23 | $136M | -$28M | 0.0% | -24.6% | -4.4% | -1.6% | $217M | $931M | — |
| Mar '23 | $103M | -$129M | 0.0% | -128.1% | -20.6% | -7.1% | -$77M | $1.0B | — |
| Dec '22 | $147M | -$55M | 0.0% | -39.8% | -8.2% | -2.9% | -$255M | $986M | — |
| Sep '22 | $157M | -$56M | 0.0% | -36.9% | -7.8% | -2.9% | -$103M | $919M | — |
| Jun '22 | $228M | -$30M | 0.0% | -14.1% | -3.9% | -1.6% | -$58M | $857M | — |
| Mar '22 | $310M | $33M | 0.0% | 11.2% | 3.7% | 1.6% | -$268M | $769M | — |
| Dec '21 | $305M | $59M | 0.0% | 19.8% | 7.3% | 3.2% | -$15M | $695M | — |
| Sep '21 | $228M | $29M | 0.0% | 12.5% | 4.0% | 1.8% | $41M | $649M | — |
How the market has priced UPST against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Upstart Holdings, Inc.'s revenue has grown 34.9% per year, and net income grown 55.0% per year. These are computed facts, not advice.
As of FY2025, Upstart Holdings, Inc. reported $1.8B of total debt against $652M of cash.
In FY2025, gross margin was —, operating margin 4.1%, and net margin 5.1%.
As of Sep '26, Upstart Holdings, Inc. traded at a price-to-earnings ratio of about 51.8× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.