Upstart Holdings (UPST) Gross Margin (2020 - 2026)

Upstart Holdings (UPST) has reported Gross Margin for 7 consecutive years, with 83.19% the latest figure, recorded in Q2 2026.

• On a quarterly basis, Gross Margin rose 116.0% year-over-year to 83.19% in Q2 2026; TTM through Jun 2026 was 82.5%, a 237.0% increase from a year earlier, with the FY2025 full-year figure at 81.95%, up 678.0% from the prior year.
• Gross Margin was 83.19% for Q2 2026 at Upstart Holdings, up from 82.12% in the prior quarter.
• Over five years, Gross Margin peaked at 84.58% in Q1 2022 and troughed at 65.35% in Q1 2023.
• A 5-year average of 77.43% and a median of 78.14% in 2024 frame the typical range for Gross Margin.
• Across the five-year window, Gross Margin tumbled 1923 bps in 2023 and surged 1166 bps in 2025, its largest moves.
• Over 5 years, Gross Margin stood at 72.05% in 2022, then advanced by 6 bps to 76.37% in 2023, then advanced by 4 bps to 79.73% in 2024, then gained by 3 bps to 82.49% in 2025, then gained by 1 bps to 83.19% in 2026.
• The last three Gross Margin figures came in at 83.19% (Q2 2026), 82.12% (Q1 2026), and 82.49% (Q4 2025), per Business Quant data.