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

Upstart Holdings (UPST) reported Operating Leases of $17.5 million for Q1 2026, down 62.72% year-over-year from $47.1 million in Q1 2025, and down 17.03% quarter-over-quarter from $21.1 million in Q4 2025.

Upstart Holdings (UPST) Operating Leases (2020 - 2026) Analysis & Trends

Upstart Holdings (UPST) has 7 years of Operating Leases data on file, last reported at $17.5 million in Q1 2026.

  • Operating Leases for Q1 2026 came in at $17.5 million, down 62.72% year-over-year; the trailing twelve-month figure through Mar 2026 was $17.5 million (down 62.72% YoY), and the FY2025 annual result was $21.1 million, down 57.94% from the prior year.
  • Operating Leases fell to $17.5 million in Q1 2026 per UPST's latest filing, from $21.1 million in the prior quarter.
  • Over five years, Operating Leases peaked at $100.8 million in Q4 2022 and troughed at $17.5 million in Q1 2026.
  • A 5-year average of $67.1 million and a median of $59.4 million in 2024 frame the typical range for Operating Leases.
  • The sharpest annual moves came in 2022 and 2026: Operating Leases surged 461.73% in 2022, then plunged 62.72% in 2026.
  • A 5-year view of Operating Leases shows it stood at $100.8 million in 2022, then slumped by 38.16% to $62.3 million in 2023, then dropped by 19.33% to $50.3 million in 2024, then plunged by 57.94% to $21.1 million in 2025, then slipped by 17.03% to $17.5 million in 2026.
  • Business Quant data shows UPST's Operating Leases at $17.5 million in Q1 2026, $21.1 million in Q4 2025, and $40.6 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr)
1 Visa 541.66 Bn 529.25 Bn -
2 Mastercard 437.55 Bn 427.34 Bn -
3 American Express 212.80 Bn 158.76 Bn 17.43 Bn
4 Capital One Financial 112.47 Bn 35.97 Bn -
5 PayPal Holdings 37.70 Bn 28.36 Bn 7.84 Bn
6 Synchrony Financial 24.26 Bn 3.70 Bn -
7 Affirm Holdings 21.24 Bn 19.51 Bn 261.64 Mn
8 SoFi Technologies 20.46 Bn 17.06 Bn 929.25 Mn
9 Ally Financial 13.30 Bn 12.86 Bn 1.98 Bn
10 Upstart Holdings 2.88 Bn 2.41 Bn 221.97 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 17.55 Mn
Dec 31, 2025 21.15 Mn
Sep 30, 2025 40.55 Mn
Jun 30, 2025 43.83 Mn
Mar 31, 2025 47.07 Mn
Dec 31, 2024 50.28 Mn
Sep 30, 2024 53.35 Mn
Jun 30, 2024 56.37 Mn
Mar 31, 2024 59.36 Mn
Dec 31, 2023 62.32 Mn
Sep 30, 2023 93.35 Mn
Jun 30, 2023 96.24 Mn
Mar 31, 2023 99.05 Mn
Dec 31, 2022 100.79 Mn
Sep 30, 2022 99.42 Mn
Jun 30, 2022 99.87 Mn
Mar 31, 2022 100.05 Mn
Dec 31, 2021 100.37 Mn
Sep 30, 2021 72.18 Mn
Jun 30, 2021 17.78 Mn