Short answer
Upstart Holdings, Inc. (UPST) filed its Q1 2026 10-Q quarterly report on May 5, 2026 for the quarter ended Mar 31, 2026. Quarterly revenue was $308M (up 44.4% year over year) with net income of −$7M.
Q1 2026 key financials · XBRL
- Revenue
- $308M
- +44.4% YoY
- Net income
- −$7M
- −171.6% YoY
- Operating margin
- -2.4%
- EPS (diluted)
- −$0.07
- −133.3% YoY
Source: XBRL data from the Upstart Holdings, Inc. (UPST) Q1 2026 10-Q on SEC EDGAR. USD.
Upstart Holdings, Inc. Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue from fees $277.1M, up $91.6M from $185.5M YoY
- Contribution margin 50% vs 55% YoY; Adjusted EBITDA margin 13% vs 20%
- Transaction volume $3.45B, up 61% YoY; loan count 425,356, up 77%
- Adjusted EBITDA $40.5M vs $42.6M YoY; contribution profit $137.3M vs $102.4M
- UMI approximately 1.38, indicating 38% incremental unsecured personal-loan repayment risk
Risk Factors
- New bank-charter application risk: OCC and FDIC approvals may be delayed, denied, or conditioned
- AI model risk: Q1 2023–Q1 2024 personal-loan vintages forecast below target returns as of March 31, 2026
- Regulatory risk: Proposed national bank would add minimum capital, liquidity, compliance, risk-management, and reporting requirements
- Funding risk: Institutional-capital constraints could increase balance-sheet reliance, funding costs, or require less favorable terms
- Financial risk: Higher market interest rates may reduce fair value of balance-sheet loans
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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