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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 - 2026)

Upstart Holdings has reported Gross Margin over the past 6 years, most recently at 107.61% for Q4 2025.

  • Quarterly Gross Margin rose 3090.0% to 107.61% in Q4 2025 from the year-ago period, while the trailing twelve-month figure was 84.03% through Dec 2025, up 1108.0% year-over-year, with the annual reading at 81.95% for FY2025, 678.0% up from the prior year.
  • Gross Margin was 107.61% for Q4 2025 at Upstart Holdings, up from 80.74% in the prior quarter.
  • Over five years, Gross Margin peaked at 107.61% in Q4 2025 and troughed at 57.5% in Q1 2022.
  • The 5-year median for Gross Margin is 73.25% (2023), against an average of 74.63%.
  • The largest YoY upside for Gross Margin was 4121bps in 2021 against a maximum downside of -4708bps in 2021.
  • A 5-year view of Gross Margin shows it stood at 86.53% in 2021, then fell by -22bps to 67.38% in 2022, then rose by 11bps to 74.63% in 2023, then rose by 3bps to 76.71% in 2024, then soared by 40bps to 107.61% in 2025.
  • Per Business Quant, the three most recent readings for UPST's Gross Margin are 107.61% (Q4 2025), 80.74% (Q3 2025), and 71.59% (Q2 2025).