Upstart Holdings, Inc. (UPST) Financial Statements — Income, Balance Sheet, Cash Flow

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Financial Statements — UPST

Balance Sheet

(in billions USD)

Metric	Q2 2026	Q1 2026	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022	Q3 2021	Q2 2021	Q1 2021
Cash & Equivalents	0.46	0.47	0.49	0.40	0.60	0.66	0.56	0.44	0.62	0.51	0.45	0.83	0.91	1.01	1.17	0.62	0.34
Net Loans & Leases	1.06	1.01	1.23	1.02	0.81	0.66	0.82	1.08	0.97	0.84	0.98	0.70	0.62	0.60	--	--	--
Total Assets	3.17	2.96	2.90	2.48	2.30	1.81	1.82	1.93	2.00	1.76	1.82	1.92	1.92	1.99	1.61	0.90	0.49
Total Liabilities	2.37	2.23	2.16	1.76	1.62	1.21	1.23	1.31	1.36	1.13	1.19	1.20	1.16	1.11	0.89	0.19	0.17
Retained Earnings	(0.35)	(0.36)	(0.38)	(0.41)	(0.41)	(0.41)	(0.40)	(0.35)	(0.24)	(0.20)	(0.17)	0.01	0.07	0.10	0.01	(0.02)	(0.06)
Total Stockholder Equity*	0.80	0.73	0.74	0.72	0.68	0.60	0.59	0.61	0.64	0.64	0.63	0.72	0.76	0.88	0.72	0.72	0.32

* Derived from reported values

Income Statement

(in millions USD) (except per-share rows)

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Interest & Dividend Income	--	--	--	--	--	--	--	--	--	--	--	--	--	--	39.29	22.18	28.97	15.13	8.61	5.07
Interest Expense	--	--	--	--	--	--	--	--	--	10.71	14.07	9.41	4.28	7.13	4.52	3.05	2.31	0.96	0.48	0.27
Net Interest Income*	16.69	31.15	30.87	18.57	16.51	27.90	19.69	(5.45)	(2.90)	(10.27)	(12.53)	--	--	--	34.77	19.13	26.66	14.18	8.14	4.80
Pretax Income*	17.15	(6.56)	19.16	31.93	5.66	(2.42)	(2.64)	(6.71)	(54.45)	(64.58)	(42.33)	(40.30)	(28.15)	(129.24)	(55.73)	(56.21)	(29.85)	32.71	59.27	27.85
Tax Provision	0.61	0.08	0.53	0.12	0.05	0.03	0.11	0.05	0.02	0.01	0.06	0.01	0.02	0.02	(0.46)	0.01	0.02	0.02	0.32	(1.27)
Net Income	16.54	(6.65)	18.64	31.81	5.61	(2.45)	(2.75)	(6.76)	(54.47)	(64.60)	(42.40)	(40.31)	(28.16)	(129.25)	(55.26)	(56.22)	(29.87)	32.69	58.94	29.11
Basic EPS	0.17	(0.07)	0.20	0.33	0.06	(0.03)	(0.01)	(0.07)	(0.62)	(0.74)	(0.47)	(0.48)	(0.34)	(1.58)	(0.65)	(0.69)	(0.36)	0.39	0.73	0.37
Diluted EPS	0.16	(0.07)	0.20	0.23	0.05	(0.03)	(0.01)	(0.07)	(0.62)	(0.74)	(0.47)	(0.48)	(0.34)	(1.58)	(0.60)	(0.69)	(0.36)	0.34	0.63	0.30

* Derived from reported values

Cash Flow Statement

(in millions USD)

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Operating Cash Flow	(136.63)	(133.30)	108.55	(122.63)	(120.16)	(13.49)	(110.93)	179.34	65.30	52.62	(143.71)	(103.43)	162.38	(75.73)	(252.88)	(101.37)	(53.64)	(266.79)	(11.14)	43.60
Capital Expenditures	2.06	2.75	0.16	0.08	0.12	0.00	0.00	0.12	0.04	0.68	0.24	0.14	0.04	1.11	1.74	1.51	3.95	1.63	3.47	2.96
Free Cash Flow*	(138.69)	(136.05)	108.40	(122.70)	(120.28)	(13.49)	(110.93)	179.22	65.26	51.94	(143.95)	(103.57)	162.34	(76.84)	(254.61)	(102.88)	(57.59)	(268.42)	(14.61)	40.64
Investing Cash Flow	94.08	0.88	131.74	(120.51)	(109.83)	(78.57)	(77.91)	(46.17)	(76.10)	(37.55)	(29.89)	(24.22)	(38.49)	(25.85)	(85.11)	(24.25)	(9.94)	5.18	(19.78)	(84.40)
Financing Cash Flow	93.49	6.74	(20.18)	378.58	91.93	(44.68)	509.33	(38.02)	132.27	(43.71)	26.36	232.78	(65.85)	20.97	40.53	41.12	(34.69)	83.07	50.40	595.03

* Derived from reported values