Upstart Holdings (UPST) Research & Development (2020 - 2026)
Upstart Holdings (UPST) posted Research & Development of $93.86 million for Q2 2026, up 36.4% from $68.83 million a year earlier and up 17.2% from the prior quarter.
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Analysis
Upstart Holdings (UPST) Research & Development (2020 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Research & Development at Upstart Holdings was $304.91 million, up 17.8% year-over-year; for FY2025, it was $257.6 million, up 1.6% from FY2024.
- Annual Research & Development shows a five-year compound annual growth rate of 46.0% (FY2020 to FY2025).
- In prior years, Upstart Holdings' Research & Development was $253.65 million in FY2024 (-9.5%), $280.14 million in FY2023 (+18.1%), $237.25 million in FY2022 (+77.1%) and $134 million in FY2021 (+245.3%).
- The Q2 2026 figure stands as the highest quarterly Research & Development since Q1 2023.
- On a year-over-year basis, Research & Development increased in five of the last eight quarters, with growth averaging 14.8%.
- The strongest year-over-year quarter for Research & Development in the past five years was Q3 2021, with growth of 272.1%; the weakest was Q1 2024, with a decline of 42.7%.
- According to Business Quant data, Research & Development for the three prior quarters was $80.11 million (Q1 2026), $66.91 million (Q4 2025) and $64.03 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | PayPal Holdings | 49.12 Bn | 7.35 Bn | - | 849.00 Mn |
| 2 | Coinbase Global | 47.37 Bn | 4.18 Bn | - | 472.85 Mn |
| 3 | Block | 45.86 Bn | 17.16 Bn | 3.17 Bn | 608.66 Mn |
| 4 | Corpay | 26.07 Bn | 15.96 Bn | - | - |
| 5 | Fiserv | 24.52 Bn | 21.19 Bn | 2.90 Bn | - |
| 6 | Global Payments | 22.18 Bn | -31.42 Mn | 2.03 Bn | - |
| 7 | Guidewire Software | 13.86 Bn | 10.43 Bn | 269.68 Mn | 90.59 Mn |
| 8 | Bitmine Immersion Technologies | 13.19 Bn | 10.57 Bn | 40.81 Mn | - |
| 9 | Chime Financial | 11.58 Bn | 7.37 Bn | 594.87 Mn | 112.11 Mn |
| 10 | Upstart Holdings | 2.29 Bn | 220.63 Mn | 303.39 Mn | 93.86 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 93.86 Mn |
| Mar 31, 2026 | 80.11 Mn |
| Dec 31, 2025 | 66.91 Mn |
| Sep 30, 2025 | 64.03 Mn |
| Jun 30, 2025 | 68.83 Mn |
| Mar 31, 2025 | 57.84 Mn |
| Dec 31, 2024 | 67.22 Mn |
| Sep 30, 2024 | 64.89 Mn |
| Jun 30, 2024 | 58.45 Mn |
| Mar 31, 2024 | 63.09 Mn |
| Dec 31, 2023 | 57.15 Mn |
| Sep 30, 2023 | 54.94 Mn |
| Jun 30, 2023 | 57.97 Mn |
| Mar 31, 2023 | 110.07 Mn |
| Dec 31, 2022 | 64.03 Mn |
| Sep 30, 2022 | 66.18 Mn |
| Jun 30, 2022 | 57.05 Mn |
| Mar 31, 2022 | 49.99 Mn |
| Dec 31, 2021 | 46.50 Mn |
| Sep 30, 2021 | 37.09 Mn |
API Access
Upstart Holdings Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=UPST&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "UPST", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=UPST&period=max&api_key=YOUR_API_KEY");
const data = await res.json();