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StartEngine earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 29, 2026
Q3 2026 Revenue up 71% year over year to $38.6M · 8¢ of every $1 of revenue lost · operating margin -8.5%
StartEngine made $38.6M in Q3 2026 (+71% Y/Y): StartEngine Private $31.2M, Vinovest $3.4M, Regulation Crowdfunding platform fees $1.3M. Operating margin -8.5%, net loss $3.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.
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What changed this quarter
Revenue was $38.6M in Q3 2026, up 71% year over year and down 13% from the previous quarter. StartEngine Private was the largest line at 81% of revenue. StartEngine Private added $14.0M year over year (up 81%), 87% of the total change. Regulation A commissions declined 45%.
Gross margin was 25.3%, down 11.6 points from Q3 2025. Operating costs exceeded revenue by $3.3M, an operating margin of -8.5%. Operating expenses grew 81% against revenue growth of 71%. The fastest-growing cost line was Sales & marketing (+126%). The quarter ended with a net loss of $3.1M, after a profit of $1.8M the previous quarter.
Operating cash flow was $2.7M (down 12% year over year). Non-cash charges added back $2K of depreciation and $2.4M of share-based compensation. Working capital and other items added $3.4M. Capital expenditures of $6K left free cash flow of $2.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 29, 2026 | $38.6M | +71% | -8.5% | −$3.1M | $2.7M |
| Q2 2026 | 10-Q | Aug 10, 2026 | $44.2M | +11% | 3.3% | $1.8M | −$6.4M |
| Q1 2026 | 10-Q | May 20, 2026 | $25.0M | -18% | -10.9% | −$2.2M | −$2.4M |
| Q4 2025 | 10-K | Mar 31, 2026 | $16.8M | -4% | -27.8% | −$4.7M | −$1.8M |
| Q3 2025 | 10-Q | Oct 31, 2025 | $22.6M | +136% | 5.1% | $1.2M | $3.0M |
| Q2 2025 | 10-Q | Aug 1, 2025 | $39.8M | +236% | 8.2% | $3.3M | $5.2M |
| Q1 2025 | 10-Q | May 15, 2025 | $30.4M | +211% | 5.6% | $1.7M | $5.9M |
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About StartEngine
StartEngine Crowdsourcing Inc. was incorporated in the State of Delaware on March 19, 2014. On May 8, 2014, the company changed its name to StartEngine Crowdfunding, Inc. StartEngine aims to revolutionize the startup financing model by helping both accredited and non-accredited investors invest in private companies on a public platform as well as fine items. In 2015, StartEngine Crowdfunding began operating under Title IV of the JOBS Act, allowing private companies to advertise the sale of their stock to both accredited and non-accredited investors under Regulation A, and under Title II of the JOBS Act, which permits offerings to accredited investors to be advertised under Rule 506(c) of Regulation D. StartEngine continues to expand the breadth of its offerings in order to better serve its mission.
In its own words, from its 10-K, filed Mar 31, 2026.
StartEngine against its Finance Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +71% against the peers' median +18%. Operating margin: -8.5% against the peers' median 5.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| StartEngine | Q3 2026 | $38.6M | +71% | -8.5% |
| AXP American Express | Q3 2026 | $20.1B | +9% | 22.6% |
| BTGO Bitgo Holdings | Q2 FY27 | $4.3B | +80% | -0.4% |
| General Motors Financial Company | Q3 2026 | $4.3B | -0.6% | 15.3% |
| SOFI SoFi Technologies | Q3 2026 | $1.4B | +44% | 22.9% |
| COIN Coinbase Global | Q3 2026 | $1.2B | -35% | 5.1% |
| CRCL Circle Internet Group | Q3 2026 | $865M | +17% | 24.1% |
| CHYM Chime Financial | Q3 2026 | $718M | +32% | 4.8% |
| GDOT Green DOT | Q2 2026 | $596M | +18% | -0.1% |
Source: StartEngine 10-Q on SEC EDGAR · CIK 1661779 · Finance Services