Upstart Holdings, Inc. (UPST) balance sheet
NASDAQ · Financial Services · Financial - Credit Services · 1,405 employees · CEO Paul Gu
- Price
- $19.65
- Market cap
- $1.93B
- Enterprise value
- $3.59B Data as of 2026-11-14
- Last report
- Q3 '26 filed 2026-11-03
- Next report
- 2027-02-09
At the end of Q3 '26 Upstart Holdings, Inc. (UPST) held $461M in cash and short-term investments against $2.11B of debt incl. leases. Total assets $3.34B, total liabilities $2.45B, shareholders' equity $887M.
Balance sheet
| Balance sheet | Trend | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||||
| Cash & equivalents | $377M | $307M | $380M | $450M | $794M | $605M | $401M | $495M | $657M | $475M | $458M | $461M | |
| Receivables | $55.3M | $54M | $60M | $87.9M | $70.3M | $62.5M | $99.4M | $120M | $97.4M | $105M | $120M | $53.4M | |
| Other current assets | $0 | $0 | $0 | $0 | $188M | $240M | $306M | $347M | $405M | $458M | $526M | $1.33B | |
| Current assets | $451M | $384M | $458M | $558M | $1.08B | $936M | $832M | $993M | $1.2B | $1.08B | $1.14B | $1.88B | |
| Property, plant & equipment (net) | $97.3M | $92.5M | $88.9M | $84.6M | $82.5M | $83M | $81.6M | $78.9M | $60.6M | $61.6M | $68.2M | $51.1M | |
| Long-term investments | $1.2B | $1.13B | $867M | $700M | $849M | $857M | $1.06B | $1.27B | $1.03B | $1.06B | $1.11B | $799M | |
| Goodwill | $67.1M | $67.1M | $67.1M | $67.1M | $67.1M | $67.1M | $67.1M | $67.1M | $67.1M | $67.1M | $67.1M | $67.1M | |
| Intangible assets | $11.4M | $10.3M | $10M | $9.72M | $9.43M | $9.15M | $8.86M | $8.57M | $8.29M | $8M | $7.72M | $7.43M | |
| Other non-current assets | $187M | $246M | $330M | $390M | $278M | $344M | $427M | $485M | $614M | $691M | $786M | $532M | |
| Non-current assets | $1.57B | $1.54B | $1.36B | $1.25B | $1.29B | $1.36B | $1.65B | $1.91B | $1.78B | $1.88B | $2.03B | $1.46B | |
| Total assets | $2.02B | $1.93B | $1.82B | $1.81B | $2.37B | $2.3B | $2.48B | $2.9B | $2.97B | $2.96B | $3.17B | $3.34B | |
| Liabilities | |||||||||||||
| Accounts payable | $12.6M | $10M | $13.9M | $22.6M | $12.4M | $13.3M | $28.8M | $11.8M | $32M | $22.7M | $39.4M | $22.7M | |
| Accrued expenses | $58.3M | $35.4M | $43.7M | $66.7M | $102M | $51.2M | $74.5M | $76.9M | $118M | $75.1M | $92.3M | $100M | |
| Short-term debt | $387M | $352M | $258M | $170M | $196M | $127M | $190M | $141M | $97.3M | $183M | $252M | $0 | |
| Other current liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $48.4M | |
| Current liabilities | $458M | $397M | $316M | $259M | $458M | $351M | $450M | $378M | $401M | $446M | $561M | $338M | |
| Long-term debt | $653M | $654M | $655M | $717M | $1.21B | $1.21B | $1.24B | $1.72B | $1.73B | $1.74B | $1.75B | $2.05B | |
| Lease obligations (non-current) | $62.3M | $59.4M | $56.4M | $53.3M | $50.3M | $47.1M | $43.8M | $40.6M | $21.1M | $17.5M | $22.4M | $61M | |
| Other non-current liabilities | $208M | $205M | $199M | $183M | $19.1M | $14.2M | $23.5M | $27.6M | $22M | $26.8M | $39.3M | $0 | |
| Non-current liabilities | $923M | $918M | $910M | $954M | $1.28B | $1.27B | $1.31B | $1.78B | $1.77B | $1.78B | $1.81B | $2.11B | |
| Total liabilities | $1.38B | $1.31B | $1.23B | $1.21B | $1.73B | $1.62B | $1.76B | $2.16B | $2.18B | $2.23B | $2.37B | $2.45B | |
| Equity | |||||||||||||
| Common stock & paid-in capital | $9K | $9K | $9K | $9K | $9K | $10K | $10K | $10K | $10K | $10K | $10K | $10K | |
| Retained earnings | -$283M | -$347M | -$402M | -$408M | -$411M | -$414M | -$408M | -$376M | -$358M | -$364M | -$348M | -$311M | |
| Shareholders' equity | $635M | $613M | $595M | $596M | $633M | $677M | $722M | $744M | $799M | $733M | $797M | $887M | |
| Debt | |||||||||||||
| Total debt (incl. leases) | $1.1B | $1.06B | $969M | $941M | $1.45B | $1.38B | $1.47B | $1.9B | $1.85B | $1.94B | $2.03B | $2.11B | |
| Net debt (debt - cash) | $725M | $758M | $589M | $490M | $659M | $777M | $1.07B | $1.4B | $1.19B | $1.46B | $1.57B | $1.65B | |
| Balance sheet | Trend | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Cash & equivalents | $73M | $50.8M | $259M | $995M | $432M | $377M | $794M | $657M | |
| Receivables | $5.05M | $42.4M | $30.7M | $63.8M | $52.8M | $55.3M | $70.3M | $97.4M | |
| Other current assets | $555M | $0 | $0 | $0 | $0 | $0 | $188M | $405M | |
| Current assets | $633M | $98.5M | $296M | $1.09B | $502M | $451M | $1.08B | $1.2B | |
| Property, plant & equipment (net) | $102K | $22.2M | $28.3M | $120M | $131M | $97.3M | $82.5M | $60.6M | |
| Long-term investments | $0 | $232M | $78.5M | $292M | $1.05B | $1.2B | $849M | $1.03B | |
| Goodwill | $0 | $0 | $0 | $67.1M | $67.1M | $67.1M | $67.1M | $67.1M | |
| Intangible assets | $1.4M | $0 | $0 | $19.9M | $15.6M | $11.4M | $9.43M | $8.29M | |
| Other non-current assets | $11.2M | $40.5M | $74.9M | $232M | $169M | $187M | $278M | $614M | |
| Non-current assets | $12.7M | $295M | $182M | $732M | $1.43B | $1.57B | $1.29B | $1.78B | |
| Total assets | $646M | $393M | $477M | $1.82B | $1.94B | $2.02B | $2.37B | $2.97B | |
| Liabilities | |||||||||
| Accounts payable | $2.92M | $6.56M | $13.8M | $6.56M | $18.7M | $12.6M | $12.4M | $32M | |
| Accrued expenses | $7.69M | $20.8M | $24.8M | $85.5M | $45.3M | $58.3M | $102M | $118M | |
| Short-term debt | $49.3M | $84.6M | $40.5M | $48M | $336M | $387M | $196M | $97.3M | |
| Other current liabilities | $337M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Current liabilities | $71.8M | $112M | $79.1M | $140M | $400M | $458M | $458M | $401M | |
| Long-term debt | $448M | $34M | $22.1M | $647M | $650M | $653M | $1.21B | $1.73B | |
| Lease obligations (non-current) | $0 | $17.1M | $19.4M | $100M | $101M | $62.3M | $50.3M | $21.1M | |
| Other non-current liabilities | $22.8M | $292M | $56.4M | $126M | $112M | $208M | $19.1M | $22M | |
| Non-current liabilities | $471M | $343M | $97.9M | $873M | $863M | $923M | $1.28B | $1.77B | |
| Total liabilities | $543M | $455M | $177M | $1.01B | $1.26B | $1.38B | $1.73B | $2.18B | |
| Equity | |||||||||
| Common stock & paid-in capital | $1K | $2K | $7K | $8K | $8K | $9K | $9K | $10K | |
| Retained earnings | -$75.1M | -$75.2M | -$69.2M | $66.2M | -$42.4M | -$283M | -$411M | -$358M | |
| Shareholders' equity | $91.3M | -$62.7M | $300M | $807M | $672M | $635M | $633M | $799M | |
| Debt | |||||||||
| Total debt (incl. leases) | $501M | $136M | $82.1M | $796M | $1.09B | $1.1B | $1.45B | $1.85B | |
| Net debt (debt - cash) | $428M | $84.9M | -$177M | -$199M | $655M | $725M | $659M | $1.19B | |
Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Cash, investments and debt
quarter endsThe other statements
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
Data as of 2026-11-14