Upstart Holdings (UPST) Free Cash Flow (2020 - 2026)

Upstart Holdings (UPST) has reported Free Cash Flow for 7 consecutive years, with -$136.0 million the latest figure, recorded in Q1 2026.

• In Q1 2026, Free Cash Flow fell 592.53% year-over-year to -$136.0 million; the TTM figure through Mar 2026 stood at -$264.5 million (down 314.3% YoY), while the FY2025 annual figure was -$148.1 million, down 179.47% from the prior year.
• Free Cash Flow eased to -$136.0 million in Q1 2026 per UPST's latest filing, from $116.1 million in the prior quarter.
• Across five years, Free Cash Flow topped out at $212.1 million in Q2 2023 and bottomed at -$268.4 million in Q1 2022.
• Historically, Free Cash Flow has averaged -$51.8 million across 5 years, with a median of -$102.9 million in 2022.
• Annual changes were most pronounced in 2022 — Free Cash Flow tumbled 1719.83% — and 2023, when it soared 468.3%.
• Upstart Holdings' Free Cash Flow stood at -$243.1 million in 2022, then soared by 43.85% to -$136.5 million in 2023, then gained by 18.71% to -$110.9 million in 2024, then jumped by 204.63% to $116.1 million in 2025, then plunged by 217.21% to -$136.0 million in 2026.
• Business Quant data shows UPST's Free Cash Flow at -$136.0 million in Q1 2026, $116.1 million in Q4 2025, and -$130.4 million in Q3 2025.