Filing Flows › Upstart Holdings (UPST) › Q3 2026 › vs Q3 2025
Upstart Holdings (UPST) Q3 2026 vs Q3 2025 (year over year)
Upstart Holdings's revenue rose $93.4M (+34%) from $277M in Q3 2025 to $371M in Q3 2026. Operating margin 9.7% against 8.5% (+1.2 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 9.7% | 8.5% | +1.2 pts |
| Net margin | 9.9% | 11.5% | -1.6 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $371M | $277M | $93.4M | +34% |
| Other income, net | $1.2M | $8.3M | −$7.0M | -85% |
| Operating profit | $36.0M | $23.7M | $12.3M | +52% |
| Costs & expenses | $335M | $253M | $81.1M | +32% |
| Pre-tax earnings | $37.2M | $31.9M | $5.3M | +17% |
| Research & development | $92.7M | $64.0M | $28.6M | +45% |
| Sales & marketing | $102M | $78.8M | $23.2M | +29% |
| General & admin | $76.5M | $60.8M | $15.7M | +26% |
| Other operating costs | $63.3M | $49.8M | $13.5M | +27% |
| Net earnings | $36.6M | $31.8M | $4.8M | +15% |
| Income tax | $665K | $124K | $541K | +436% |
| Operating cash sources | $102M | $195M | −$92.3M | -47% |
| Depreciation & amortization | $6.1M | $6.1M | −$12K | -0.2% |
| Share-based compensation | $40.0M | $34.2M | $5.8M | +17% |
| Cash used in operations | $19.8M | $123M | −$103M | -84% |
| Working capital & other | $102M | $195M | −$92.3M | -47% |
Questions
How much did Upstart Holdings's revenue grow year over year in Q3 2026?
Upstart Holdings's revenue rose $93.4M (+34%) from $277M in Q3 2025 to $371M in Q3 2026. Operating margin 9.7% against 8.5% (+1.2 pts).