Upstart
AI lending marketplace spanning personal, auto, and home-equity credit.
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Profile
Runs an AI lending marketplace for personal loans, small-dollar relief loans, auto credit, and home equity lines, while also supplying auto-dealer retail software. Revenue comes mainly from platform, referral, and servicing fees; origination volume depends on lending partners and institutional investors buying or retaining loans.
Connects consumers seeking credit with banks, credit unions, and institutional investors through an AI-based lending marketplace. Its platform supports unsecured personal loans, including small-dollar relief loans; auto refinance, retail, and auto-secured personal loans; home equity lines of credit; and dealer-facing automotive retail software. Proprietary models also automate underwriting, verification, fraud detection, and much of the origination process.
Generates revenue entirely in the United States from platform use, borrower referrals, and loan servicing. Personal Lending is its only reportable segment, while Auto Lending and Other remain separate operating segments. Loan funding comes from lending partners, institutional investors, and, in some cases, its own balance sheet, tying marketplace volume to outside capital availability and credit performance.
Company facts
Categories
Key statistics
Year to date −36.6% · Average volume (30d) 4.4M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 5, 2026 | Piper Sandler | Reiterate | Overweight | $46 | $51 | |
| Jul 9, 2026 | Goldman Sachs | Reiterate | Neutral | $35 | $39 | |
| Jul 7, 2026 | Needham | Reiterate | Buy | $37 | $40 | |
| Jun 9, 2026 | Jefferies | Target | $85 | $30 | ||
| May 8, 2026 | Mizuho Securities | Target | $48 | $45 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $0.18 | $0.16 | −10.2% | $354.7M | $364.7M | +2.8% | −0.40% |
| May 5, 2026Q1 FY26 | $0.39 | $0.30 | −23.1% | $301.3M | $308.2M | +2.3% | −7.92% |
| Feb 10, 2026Q4 FY25 | $0.47 | $0.46 | −2.1% | $288.5M | $296.1M | +2.6% | −15.04% |
| Nov 4, 2025Q3 FY25 | $0.42 | $0.52 | +23.8% | $288.6M | $285.9M | −0.9% | −9.71% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $220.4M | $265.1M | $285.9M | $304.2M | $308.2M | $257.3M | |
| Gross profit | $213.4M | $257.3M | $277.1M | $276.2M | $302.4M | $4.5M | |
| Operating income | −$2.4M | $5.7M | $31.9M | $19.2M | −$7.5M | $4.5M | |
| Net income | −$2.4M | $5.6M | $31.8M | $18.6M | −$6.6M | $16.5M | |
| Diluted EPS | −$0.03 | $0.05 | $0.25 | $0.17 | −$0.07 | $0.16 | |
| Gross margin | 96.8% | 97.1% | 96.9% | 90.8% | 98.1% | 1.8% | |
| Operating margin | -1.1% | 2.1% | 11.2% | 6.3% | -2.4% | 1.8% |
Fiscal years (4-quarter sums)FY21 $850.7M · FY22 $848.6M · FY23 $543.0M · FY24 $677.0M · FY25 $1.08B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $456.0M · Total debt $2.03B · Total assets $3.17B · Shareholders' equity $797.5M
Dividends
No dividends on record.
Ownership
Shares outstanding 95.71M · Float 81.92M · 85.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Dave Girouard · director, 10 percent owner: | 8.57M | 8.95% | Form 4 | May 8, 2026 |
| BlackRock, Inc. | 7.88M | 8.23% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 3.74M | 3.91% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 3.70M | 3.86% | 13F | Aug 13, 2026 |
| Morgan Stanley | 2.41M | 2.52% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | Natalia Mirgorodskaya | officer: See Remarks | −913 | $30.03 |
| Aug 20, 2026 | Natalia Mirgorodskaya | officer: See Remarks | −586 | $28.09 |
| Aug 20, 2026 | Scott Darling | officer: Chief Legal Officer | −7,696 | $28.09 |
| Aug 20, 2026 | Sanjay Datta | officer: President, Capital& Enterprise | −8,945 | $28.09 |
| Aug 19, 2026 | Sanjay Datta | officer: President, Capital& Enterprise | −10,000 | $31.46 |
Peers
- LendingClub
Direct digital-bank peer in personal loans and auto refinance
- SoFi
Broad consumer-finance app with personal-loan and BNPL overlap
- OneMain
Non-bank consumer lender across personal loans and auto finance
- Affirm
BNPL and pay-over-time network for point-of-sale credit
- FICO
Credit-score and analytics infrastructure for lender underwriting
- Synchrony Financial
Retail-card and Pay Later lender competing in purchase credit
- Ally Financial
Auto-finance incumbent relevant to Upstart's auto expansion
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Upstart | $29.20 | +0.40% | $2.78B | 56.9 | 16.5 | 2.4 | +41.8% |
| LendingClub | $19.21 | +2.13% | $2.22B | 11.6 | 9.8 | 1.8 | −15.9% |
| SoFi | $18.08 | +0.22% | $23.17B | 37.6 | 24.5 | 4.1 | +41.0% |
| OneMain | $63.02 | +0.29% | $7.26B | 9.5 | 8.0 | 1.1 | −15.5% |
| Affirm | $77.40 | −0.37% | $26.04B | 70.7 | 44.6 | 6.6 | +33.0% |
| FICO | $1,150.14 | −0.31% | $24.91B | 33.3 | 22.8 | 10.4 | +25.7% |
| Synchrony Financial | $80.54 | +3.19% | $25.40B | 8.0 | 8.2 | 1.3 | −21.1% |
| Ally Financial | $42.18 | 0.00% | $12.83B | 9.9 | 7.1 | 0.8 | −0.3% |
| Median | 11.6 | 9.8 | 1.8 | −0.3% |