Upstart Holdings (UPST) Operating Expenses (2020 - 2026)

Upstart Holdings (UPST) has 7 years of Operating Expenses data on file, last reported at $315.7 million in Q1 2026.

• Operating Expenses for Q1 2026 came in at $315.7 million, up 44.92% year-over-year; the trailing twelve-month figure through Mar 2026 was $1.1 billion (up 32.1% YoY), and the FY2025 annual result was $1.0 billion, up 23.7% from the prior year.
• Operating Expenses improved to $315.7 million in Q1 2026 per UPST's latest filing, from $277.2 million in the prior quarter.
• Over five years, Operating Expenses peaked at $315.7 million in Q1 2026 and troughed at $169.1 million in Q2 2023.
• A 5-year average of $226.6 million and a median of $217.9 million in 2025 frame the typical range for Operating Expenses.
• The sharpest annual moves came in 2022 and 2023: Operating Expenses jumped 160.28% in 2022, then sank 35.02% in 2023.
• A 5-year view of Operating Expenses shows it stood at $205.4 million in 2022, then retreated by 8.57% to $187.8 million in 2023, then gained by 19.12% to $223.7 million in 2024, then rose by 23.9% to $277.2 million in 2025, then grew by 13.91% to $315.7 million in 2026.
• Business Quant data shows UPST's Operating Expenses at $315.7 million in Q1 2026, $277.2 million in Q4 2025, and $253.4 million in Q3 2025.