Quarterly ResultMay 5, 2026, 04:12 PM
Upstart Q1 Revenue $308M, Net Loss $(6.6M)
AI Summary
Upstart Holdings, Inc. announced its first quarter 2026 financial results, reporting a 44% year-over-year increase in total revenue to $308 million and a 61% rise in total originations to $3.4 billion. Despite strong top-line growth, the company's net loss widened to $(6.6) million from $(2.4) million in the prior year, and Adjusted EBITDA declined. CEO Paul Gu noted the company is on track to meet its full-year outlook and is focused on building a high-growth, capital-efficient business, including advancing AI models and applying for a national bank charter.
Key Highlights
- Total Revenue was $308 million, an increase of 44% year-over-year.
- Total originations reached $3.4 billion, up 61% year-over-year.
- Net Loss was $(6.6) million, compared to $(2.4) million in Q1 2025.
- Diluted Net Loss per Share was $(0.07), compared to $(0.03) in Q1 2025.
- Adjusted EBITDA was $40.5 million, down from $42.6 million in Q1 2025.
- Contribution Profit grew 34% year-over-year to $137 million.
- Upstart reaffirmed its full-year 2026 revenue outlook of approximately $1.4 billion.
- CEO Paul Gu highlighted progress on AI models and a national bank charter application.