Upstart Q1 Revenue +44% to $308.2M; Net Loss Widens to $6.6M

Upstart Holdings, Inc. reported a significant increase in total revenue for the first quarter of 2026, rising 44.45% to $308.2 million. However, the company's net loss also widened to $6.6 million, up from $2.4 million in the prior year period, resulting in a basic net loss per share of $0.07. The increase in revenue was primarily driven by a 49.4% rise in revenue from fees, net, reaching $277.1 million, while sales and marketing expenses also saw a substantial increase. Additionally, Upstart repurchased $100.1 million of its stock during the quarter.