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

Upstart Holdings (UPST) has reported Operating Expenses for 7 consecutive years, with $350.1 million the latest figure, recorded in Q2 2026.

• On a quarterly basis, Operating Expenses rose 38.5% year-over-year to $350.1 million in Q2 2026; TTM through Jun 2026 was $1.2 billion, a 32.7% increase from a year earlier, with the FY2025 full-year figure at $1.0 billion, up 23.7% from the prior year.
• Operating Expenses was $350.1 million for Q2 2026 at Upstart Holdings, up from $315.7 million in the prior quarter.
• Over five years, Operating Expenses peaked at $350.1 million in Q2 2026 and troughed at $169.1 million in Q2 2023.
• A 5-year average of $233.5 million and a median of $220.8 million in 2024 frame the typical range for Operating Expenses.
• Across the five-year window, Operating Expenses soared 160.28% in 2022 and slumped 35.02% in 2023, its largest moves.
• Over 5 years, Operating Expenses stood at $205.4 million in 2022, then fell by 8.57% to $187.8 million in 2023, then rose by 19.12% to $223.7 million in 2024, then increased by 23.9% to $277.2 million in 2025, then rose by 26.3% to $350.1 million in 2026.
• The last three Operating Expenses figures came in at $350.1 million (Q2 2026), $315.7 million (Q1 2026), and $277.2 million (Q4 2025), per Business Quant data.