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Upstart Holdings (UPST) Operating Expenses (2020 - 2025)

Upstart Holdings (UPST) has disclosed Operating Expenses for 6 consecutive years, with $277.2 million as the latest value for Q4 2025.

  • Quarterly Operating Expenses rose 23.9% to $277.2 million in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $1.0 billion through Dec 2025, up 23.7% year-over-year, with the annual reading at $1.0 billion for FY2025, 23.7% up from the prior year.
  • Operating Expenses for Q4 2025 was $277.2 million at Upstart Holdings, up from $253.4 million in the prior quarter.
  • The five-year high for Operating Expenses was $277.2 million in Q4 2025, with the low at $105.8 million in Q1 2021.
  • Average Operating Expenses over 5 years is $212.2 million, with a median of $211.3 million recorded in 2022.
  • The sharpest move saw Operating Expenses skyrocketed 448.53% in 2021, then tumbled 35.02% in 2023.
  • Over 5 years, Operating Expenses stood at $244.4 million in 2021, then dropped by 15.96% to $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.
  • According to Business Quant data, Operating Expenses over the past three periods came in at $277.2 million, $253.4 million, and $252.7 million for Q4 2025, Q3 2025, and Q2 2025 respectively.