Upstart Holdings, Inc. (UPST) Form 10-Q — Nov 3, 2026
Upstart reported Q3 2026 total revenue of $370.5 million, up 34% from $277.1 million a year earlier, with net income of $36.6 million ($0.33 diluted EPS) versus $31.8 million ($0.23 diluted EPS) in the prior-year quarter. Nine-month revenue reached $1.04 billion versus $747.8 million last year, and nine-month net income of $46.5 million nearly matched the accumulated deficit reduction trajectory as equity grew to $887.4 million. The company repaid the remaining $66.5 million of its 0.25% convertible notes at their August 2026 maturity, leaving $1.62 billion of convertible notes outstanding, and repurchased $100.1 million of its own stock during the nine months.
Key figures
- Eps
- basic $0.37, diluted $0.33 (Q3 2026)
- Revenue
- 370522000
- Net Income
- 36578000
- Total Debt
- 2027322000
- Revenue Yoy
- 34% growth (total revenue $370.5M Q3 2026 vs $277.1M Q3 2025)
- Total Assets
- 3339042000
- Cash Position
- 461484000
- Shares Outstanding
- 98908658
- 2026 notes repaid
- $66.5M repaid at August 2026 maturity
- Nine month revenue
- $1,043.4M (vs $747.8M prior year)
- Revenue from fees q3
- $364.0M (vs $258.5M prior year)
- Nine month net income
- $46.5M (vs $35.0M prior year)
- Beneficial interest assets
- $613.7M at fair value
- Convertible notes outstanding
- $1,621.25M principal (2029, 2030, 2032 notes)
- Stock repurchases nine months
- $100.1M (3,193,294 shares)
AI analysis
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