Upstart Holdings reported second-quarter 2026 results with revenue rising to $348M and diluted EPS of $0.16, driven by higher originations and expanded product mix; net income was $16.54M for the quarter.
Financial Highlights
- Revenue: $348.0M for 2Q 2026, up from $240.8M in 2Q 2025 (45% YoY).
- Net income: $16.54M for 2Q 2026, up from $5.61M in 2Q 2025 (195% YoY).
- Diluted EPS: $0.16 for 2Q 2026, up from $0.05 in 2Q 2025.
Business Highlights
- Revenue from fees rose 47% year-to-date, supported by a 55% increase in originations dollars as marketplace scale expanded.
- Channel and product diversification — including Cash Line, small-dollar, auto secured loans and HELOCs — contributed to higher loan volume.
- Automation increased efficiency: 91% of loans were fully automated (no human intervention) in H1 2026, supporting contribution margin and operating scalability.
- Credit performance: recent vintages (Q2–Q3 2024 onward) are forecast to meet target returns due to conservative underwriting and model improvements.
- Funding resilience: over half of funding comes via committed capital and co-investments with institutional investors, helping to stabilize marketplace liquidity.
Original SEC Filing:
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