Upstart Holdings (UPST) Cost of Revenue (2020 - 2026)

Upstart Holdings (UPST) has reported Cost of Revenue for 7 consecutive years, with $61.3 million the latest figure, recorded in Q2 2026.

• On a quarterly basis, Cost of Revenue rose 32.59% year-over-year to $61.3 million in Q2 2026; TTM through Jun 2026 was $218.0 million, a 30.84% increase from a year earlier, with the FY2025 full-year figure at $188.4 million, up 19.23% from the prior year.
• Cost of Revenue was $61.3 million for Q2 2026 at Upstart Holdings, up from $55.1 million in the prior quarter.
• Over five years, Cost of Revenue peaked at $61.3 million in Q2 2026 and troughed at $36.1 million in Q4 2023.
• A 5-year average of $44.5 million and a median of $42.0 million in 2022 frame the typical range for Cost of Revenue.
• Across the five-year window, Cost of Revenue soared 178.39% in 2022 and decreased 27.95% in 2023, its largest moves.
• Over 5 years, Cost of Revenue stood at $43.5 million in 2022, then decreased by 16.95% to $36.1 million in 2023, then climbed by 12.42% to $40.6 million in 2024, then grew by 27.68% to $51.8 million in 2025, then advanced by 18.29% to $61.3 million in 2026.
• The last three Cost of Revenue figures came in at $61.3 million (Q2 2026), $55.1 million (Q1 2026), and $51.8 million (Q4 2025), per Business Quant data.