What is Upstart Holdings, Inc.'s R&D?

Upstart Holdings, Inc. (UPST) reported R&D of $80.11M in Q1 2026.

How has Upstart Holdings, Inc.'s R&D changed year-over-year?

Upstart Holdings, Inc.'s R&D increased by 38.5% year-over-year, from $57.84M to $80.11M.

What is the long-term trend for Upstart Holdings, Inc.'s R&D?

Over 4 years (2021 to 2025), Upstart Holdings, Inc.'s R&D has grown at a 17.8% compound annual growth rate (CAGR), from $134M to $257.6M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Upstart Holdings, Inc. UPST R&D

R&D at other companies

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$187.68M+20.1%

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Gen Digital Inc.GEN

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Marathon Digital HoldingsMARA

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Segments

By segment

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Personal Lending$80.11M+38.5%

Other financials

Income statement

See full

Revenue$308.2M+44.4%

Operating income-$7.5M-67.2%

Net income-$6.6M-172%

EPS (diluted)-$0.07-133%

Balance sheet

See full

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

See full

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

See full

Operating margin3.5%+1.9pp

Net margin4.3%+2.6pp

FCF margin27%+16.9pp

Returns & leverage

See full

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 us-gaap:ResearchAndDevelopmentExpense.

The official record: Upstart Holdings, Inc.’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Upstart Holdings, Inc.'s R&D?: Upstart Holdings, Inc. (UPST) reported R&D of $80.11M in Q1 2026.
How has Upstart Holdings, Inc.'s R&D changed year-over-year?: Upstart Holdings, Inc.'s R&D increased by 38.5% year-over-year, from $57.84M to $80.11M.
What is the long-term trend for Upstart Holdings, Inc.'s R&D?: Over 4 years (2021 to 2025), Upstart Holdings, Inc.'s R&D has grown at a 17.8% compound annual growth rate (CAGR), from $134M to $257.6M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.