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Upstart Holdings, Inc. UPST Business Segments — Customer operations

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Other financials

Income statement

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Revenue$364.7M+41.7%
Operating income$14.6M+222%
Net income$16.5M+195%
EPS (diluted)$0.16+220%

Balance sheet

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Cash & equivalents$456.0M-35.0%
Total debt$2.0B+37.6%
Total equity$797.5M+10.5%
Total assets$3.2B+28.0%

Cash flow

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Operating cash flow-$136.6M-13.7%
CapEx$2.1M+1,690%
Free cash flow-$138.7M-15.3%

Valuation

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Market cap$2.89B-55.2%
Enterprise value$4.46B-38.3%
P/E47.9×
P/S2.3×-5.3×

Profitability

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Operating margin4%+2.5pp
Net margin4.8%+4.3pp
FCF margin27%+16.9pp

Returns & leverage

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Return on equity7.9%+7.2pp
Debt / equity2.5×+0.5×

Where this comes from

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

Tagged under the XBRL concept upst:CustomerOperationsExpense.

The source filing: Upstart Holdings, Inc.’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 4:08 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001647639-26-000046
Line itemThree Months Ended March 31, 2025Three Months Ended March 31, 2026
Reconciling items:
Other Contribution Profit/(Loss)(1)(5,340)(11,160)
Sales and marketing, net of borrower acquisition costs(2)(10,408)(12,198)
Customer operations, net of borrower verification and servicing costs(3)(5,960)(7,563)
Engineering and product development(57,838)(80,112)
General, administrative, and other(60,558)(76,070)
Interest income, interest expense, and fair value adjustments, net27,89631,151
Other income, net2,078956

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Upstart Holdings, Inc.'s business segments — customer operations?
Upstart Holdings, Inc. (UPST) reported business segments — customer operations of $7.56M in Q1 2026.
How has Upstart Holdings, Inc.'s business segments — customer operations changed year-over-year?
Upstart Holdings, Inc.'s business segments — customer operations increased by 26.9% year-over-year, from $5.96M to $7.56M.
What is the long-term trend for Upstart Holdings, Inc.'s business segments — customer operations?
Over 3 years (2022 to 2025), Upstart Holdings, Inc.'s business segments — customer operations has grown at a -5.2% compound annual growth rate (CAGR), from $30.19M to $25.7M.
What does business segments — customer operations mean?
Represents the costs associated with customer support, account management, and operational assistance provided to users of the personal lending platform. It reflects the ongoing investment required to maintain high service levels and customer satisfaction.

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