Filing Flows › Upstart Holdings (UPST) › How it makes money
How Upstart Holdings (UPST) makes money
Upstart Holdings (UPST) made $371M of revenue in the third quarter 2026 (Q3 2026), +34% from a year earlier. Of every dollar of revenue, 10¢ was left as operating profit, 10¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $371M | 100.0% |
| Operating profit | $36.0M | 9.7% |
| Income tax | $665K | 0.2% |
| Net earnings | $36.6M | 9.9% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $371M | +34% |
| Q2 2026 | $365M | +42% |
| Q1 2026 | $308M | +44% |
| Q4 2025 | $296M | +35% |
| Q3 2025 | $277M | +71% |
| Q2 2025 | $257M | +102% |
| Q1 2025 | $213M | +67% |
From Upstart Holdings' 10-Q filed Nov 3, 2026 (on EDGAR).
Questions
How does Upstart Holdings make money?
Upstart Holdings (UPST) made $371M of revenue in the third quarter 2026 (Q3 2026), +34% from a year earlier. Of every dollar of revenue, 10¢ was left as operating profit, 10¢ was left as net earnings.
What is Upstart Holdings' profit margin?
Net earnings were $36.6M, 9.9% of revenue, in the third quarter 2026; the operating margin was 9.7%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.