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Upstart Holdings (UPST) Cost of Revenue: 2020-2025

Historic Cost of Revenue for Upstart Holdings (UPST) over the last 6 years, with Sep 2025 value amounting to $78.8 million.

  • Upstart Holdings' Cost of Revenue rose 82.39% to $78.8 million in Q3 2025 from the same period last year, while for Sep 2025 it was $260.3 million, marking a year-over-year increase of 65.35%. This contributed to the annual value of $166.8 million for FY2024, which is 10.89% up from last year.
  • Upstart Holdings' Cost of Revenue amounted to $78.8 million in Q3 2025, which was up 7.85% from $73.1 million recorded in Q2 2025.
  • Upstart Holdings' Cost of Revenue's 5-year high stood at $133.4 million during Q1 2022, with a 5-year trough of $36.1 million in Q4 2023.
  • For the 3-year period, Upstart Holdings' Cost of Revenue averaged around $48.4 million, with its median value being $40.6 million (2023).
  • Per our database at Business Quant, Upstart Holdings' Cost of Revenue spiked by 1,046.59% in 2021 and then crashed by 69.58% in 2023.
  • Over the past 5 years, Upstart Holdings' Cost of Revenue (Quarterly) stood at $114.8 million in 2021, then tumbled by 55.80% to $50.8 million in 2022, then dropped by 28.84% to $36.1 million in 2023, then soared by 36.79% to $49.4 million in 2024, then spiked by 82.39% to $78.8 million in 2025.
  • Its Cost of Revenue stands at $78.8 million for Q3 2025, versus $73.1 million for Q2 2025 and $59.0 million for Q1 2025.