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Upstart Holdings, Inc. UPST Expense on convertible notes

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Segments

By segment

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Personal Lending-$19.87M-158%

Other financials

Income statement

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Revenue$308.2M+44.4%
Operating income-$7.5M-67.2%
Net income-$6.6M-172%
EPS (diluted)-$0.07-133%

Balance sheet

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Cash & equivalents$931.3M+10.9%
Total debt$1.9B+40.3%
Total equity$733.2M+8.4%
Total assets$3.0B+29.0%

Cash flow

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Operating cash flow-$133.3M-888%
CapEx$2.8M
Free cash flow-$136.0M-909%

Valuation

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Market cap$3.01B-43.6%
Enterprise value$4.02B-29.1%
P/E61×
P/S2.6×-4.7×

Profitability

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Operating margin3.5%+1.9pp
Net margin4.3%+2.6pp
FCF margin27%+16.9pp

Returns & leverage

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Return on equity7%+4.4pp
Debt / equity2.6×+0.6×

Where this comes from

Reported directly by Upstart Holdings, Inc. in its filing.

Tagged under the XBRL concept upst:IncomeExpenseOnConvertibleNotes.

The official record: Upstart Holdings, Inc.’s 10-K, filed February 10, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Upstart Holdings, Inc.'s expense on convertible notes?
Upstart Holdings, Inc. (UPST) reported expense on convertible notes of -$4.97M in Q4 2025.
How has Upstart Holdings, Inc.'s expense on convertible notes changed year-over-year?
Upstart Holdings, Inc.'s expense on convertible notes decreased by 158.3% year-over-year, from -$1.92M to -$4.97M.
What is the long-term trend for Upstart Holdings, Inc.'s expense on convertible notes?
Over 4 years (2021 to 2025), Upstart Holdings, Inc.'s expense on convertible notes has grown at a 78.1% compound annual growth rate (CAGR), from -$1.98M to -$19.87M.
What does expense on convertible notes mean?
This reflects the financial costs associated with the company's convertible debt instruments, including interest and non-cash amortization of debt discounts. It highlights the company's capital structure choices and the potential impact of debt servicing on net earnings. Investors monitor this to understand the cost of capital and the potential for future equity dilution.