Filing Flows › Upstart Holdings (UPST) › Q3 2026 › vs Q2 2026
Upstart Holdings (UPST) Q3 2026 vs Q2 2026 (quarter over quarter)
Upstart Holdings's revenue rose $5.8M (+2%) from $365M in Q2 2026 to $371M in Q3 2026. Operating margin 9.7% against 4.0% (+5.7 pts).
Upstart Holdings, Q3 2026: revenue $371M (+34% year over year), operating margin 9.7%, net earnings $36.6M, operating cash flow −$19.8M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 9.7% | 4.0% | +5.7 pts |
| Net margin | 9.9% | 4.5% | +5.3 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $371M | $365M | $5.8M | +2% |
| Other income, net | $1.2M | $2.5M | −$1.3M | -51% |
| Operating profit | $36.0M | $14.6M | $21.4M | +146% |
| Costs & expenses | $335M | $350M | −$15.5M | -4% |
| Pre-tax earnings | $37.2M | $17.2M | $20.1M | +117% |
| Research & development | $92.7M | $93.9M | −$1.2M | -1% |
| Sales & marketing | $102M | $115M | −$12.4M | -11% |
| General & admin | $76.5M | $80.4M | −$3.9M | -5% |
| Other operating costs | $63.3M | $61.3M | $2.0M | +3% |
| Net earnings | $36.6M | $16.5M | $20.0M | +121% |
| Income tax | $665K | $614K | $51K | +8% |
| Operating cash sources | $102M | $205M | −$102M | -50% |
| Depreciation & amortization | $6.1M | $7.1M | −$1.0M | -14% |
| Share-based compensation | $40.0M | $44.5M | −$4.5M | -10% |
| Cash used in operations | $19.8M | $137M | −$117M | -86% |
| Working capital & other | $102M | $205M | −$102M | -50% |
Questions
How much did Upstart Holdings's revenue grow quarter over quarter in Q3 2026?
Upstart Holdings's revenue rose $5.8M (+2%) from $365M in Q2 2026 to $371M in Q3 2026. Operating margin 9.7% against 4.0% (+5.7 pts).