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Asset Utilization RatioAssets AverageEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInterest Coverage RatioInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

Upstart Holdings (UPST) Gross Margin (2020 - 2025)

Upstart Holdings (UPST) has disclosed Gross Margin for 6 consecutive years, with 84.35% as the latest value for Q4 2025.

  • On a quarterly basis, Gross Margin rose 522.0% to 84.35% in Q4 2025 year-over-year; TTM through Dec 2025 was 84.53%, a 1024.0% increase, with the full-year FY2025 number at 81.95%, up 820.0% from a year prior.
  • Gross Margin was 84.35% for Q4 2025 at Upstart Holdings, down from 98.27% in the prior quarter.
  • In the past five years, Gross Margin ranged from a high of 117.16% in Q4 2021 to a low of 4.95% in Q4 2022.
  • A 5-year average of 71.19% and a median of 72.93% in 2024 define the central range for Gross Margin.
  • Peak YoY movement for Gross Margin: tumbled -13071bps in 2021, then skyrocketed 6969bps in 2023.
  • Upstart Holdings' Gross Margin stood at 117.16% in 2021, then crashed by -96bps to 4.95% in 2022, then surged by 1409bps to 74.63% in 2023, then grew by 6bps to 79.13% in 2024, then increased by 7bps to 84.35% in 2025.
  • Per Business Quant, the three most recent readings for UPST's Gross Margin are 84.35% (Q4 2025), 98.27% (Q3 2025), and 80.79% (Q2 2025).