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Upstart Holdings, Inc. UPST Q3 2025 earnings

Reported November 4, 2025 · After market close

Revenue$285.9MMiss by $2.7M
EPS$0.52Beat by $0.10
Revenue estimate$288.6M
EPS estimate$0.42

Next report

Aug 4, 2026 (In 5 days)
Revenue estimate$352.3M
EPS estimate$0.19

Financials

Q3 2025

Income statement

See full
Revenue$277.1M+70.9%
Operating income$23.7M+152%
Net income$31.8M+571%
EPS (diluted)$0.23+429%

Balance sheet

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Cash & equivalents$836.9M+88.0%
Total debt$1.9B+102%
Total equity$743.7M+24.9%
Total assets$2.9B+60.6%

Cash flow

See full
Operating cash flow-$122.6M-168%
CapEx$75.0K-35.3%
Free cash flow-$122.7M-168%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$4.89B+36.5%
Enterprise value$5.95B+45.9%
P/E151.7×—
P/S5.1×-1.4×

Profitability

See full
Operating margin2%+1.0pp
Net margin3.3%+1.8pp

Returns & leverage

See full
Return on equity4.8%+2.6pp
Debt / equity2.5×+1.0×

Versus estimates

Revenue

Q1 2026$308.2MBeat by $6.9MQ4 2025$296.1MBeat by $7.6M
Q3 2025$285.9MMiss by $2.7M
Q2 2025$257.3MMiss by $23.7MQ1 2025$220.4MBeat by $19.1MQ4 2024$211.3MBeat by $29.4M

Diluted EPS

Q1 2026$0.30Miss by $0.09Q4 2025$0.46Miss by $0.01
Q3 2025$0.52Beat by $0.10
Q2 2025$0.36Beat by $0.09Q1 2025$0.30Beat by $0.11Q4 2024$0.26Beat by $0.30

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Questions, answered.

When did Upstart Holdings, Inc. report Q3 2025 earnings?
Upstart Holdings, Inc. (UPST) reported Q3 2025 earnings on November 4, 2025 after market close.
What were Upstart Holdings, Inc.'s Q3 2025 revenue and EPS?
Upstart Holdings, Inc. reported revenue of $285.9M and eps of $0.52 for Q3 2025.
Did Upstart Holdings, Inc. beat estimates in Q3 2025?
Revenue missed the consensus estimate of $288.6M by $2.7M. EPS beat the consensus estimate of $0.42 by $0.10.
How did Upstart Holdings, Inc.'s Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 76.3% from $162.1M a year earlier.
Where can I find Upstart Holdings, Inc.'s Q3 2025 SEC filings?
You can read the 8-K earnings release (0001647639-25-000133) and the 10-Q periodic report (0001647639-25-000134) directly on SEC EDGAR. The filing index links above go to sec.gov.