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Upstart (UPST) Revenue & Revenue Breakdown

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Upstart Revenue Highlights

Latest Revenue (Y)

$1.04B

Latest Revenue (Q)

$277.11M

Main Segment (Y)

Servicing Fees, Net

Upstart Revenue by Period

Upstart Revenue by Year

DateRevenueChange
2025-12-31$1.04B54.20%
2024-12-31$676.96M23.60%
2023-12-31$547.72M-35.81%
2022-12-31$853.29M0.40%
2021-12-31$849.89M269.39%
2020-12-31$230.08M21.56%
2019-12-31$189.27M98.02%
2018-12-31$95.58M71.78%
2017-12-31$55.64M-

Upstart generated $1.04B in revenue during NA 2025, up 54.20% compared to the previous quarter, and up 453.70% compared to the same period a year ago.

Upstart Revenue by Quarter

DateRevenueChange
2025-09-30$277.11M7.70%
2025-06-30$257.29M16.74%
2025-03-31$220.39M-2.65%
2024-12-31$226.40M30.90%
2024-09-30$172.96M24.34%
2024-06-30$139.10M0.43%
2024-03-31$138.51M-1.29%
2023-12-31$140.31M4.28%
2023-09-30$134.56M-0.89%
2023-06-30$135.77M31.91%
2023-03-31$102.93M-27.63%
2022-12-31$142.23M-9.54%
2022-09-30$157.23M-31.09%
2022-06-30$228.16M-26.43%
2022-03-31$310.14M2.13%
2021-12-31$303.68M32.93%
2021-09-30$228.45M17.79%
2021-06-30$193.95M59.83%
2021-03-31$121.34M56.25%
2020-12-31$77.66M23.72%
2020-09-30$62.77M262.11%
2020-06-30$17.34M-73.03%
2020-03-31$64.28M0.77%
2019-12-31$63.79M28.90%
2019-09-30$49.49M-

Upstart generated $277.11M in revenue during Q3 2025, up 7.70% compared to the previous quarter, and up 199.21% compared to the same period a year ago.

Upstart Revenue Breakdown

Upstart Revenue Breakdown by Product

Annual Revenue by Product

Product/ServiceDec 25Dec 24Dec 23Dec 22Dec 21
Servicing Fees$100.16M$89.32M$107.01M--
Other Fees$2.76M$677.00K$743.00K--
Collection Agency Fees$14.43M$16.41M$15.87M--
Borrower Fees$29.38M$26.44M$29.14M--
Servicing Fees, Net$157.03M$133.06M$146.31M$175.03M$75.11M
Platform And Referral Fees, Net---$732.24M$726.16M

Upstart's latest annual revenue breakdown by segment (product or service), as of Dec 25: Servicing Fees, Net (51.70%), Servicing Fees (32.97%), Borrower Fees (9.67%), Collection Agency Fees (4.75%), and Other Fees (0.91%).

Quarterly Revenue by Product

Product/ServiceDec 25Jun 25Mar 25Dec 24Sep 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21
Borrower Fees$16.05M$6.66M$6.66M$12.70M$6.58M$7.16M$7.08M$3.25M----------
Servicing Fees, Net$84.60M$37.93M$34.50M$65.45M$33.39M$34.21M$34.59M$34.32M$37.92M$39.48M$44.56M$46.73M$42.17M$18.98M$18.22M$9.22M--
Collection Agency Fees$6.93M$3.71M$3.79M$7.84M$3.96M$4.60M$3.17M$1.41M----------
Other Fees$1.83M$833.00K$97.00K$491.00K$88.00K$98.00K------------
Servicing Fees$53.93M$23.43M$22.81M$44.30M$21.78M$23.24M------------
Platform And Referral Fees, Net-------$112.44M$105.77M$77.66M$134.79M$211.61M$271.81M$191.44M$169.08M$106.95M--

Upstart's latest quarterly revenue breakdown by segment (product or service), as of Dec 25: Servicing Fees, Net (51.80%), Servicing Fees (33.02%), Borrower Fees (9.83%), Collection Agency Fees (4.24%), and Other Fees (1.12%).

Upstart Peer Comparison by Revenue

TickerCompanyLast Year RevenueLast Quarter Revenue
SNEXStoneX Group$132.38B$39.03B
LAZLazard$3.19B$782.43M
BGCBGC Group$3.01B$748.48M
CACCCredit Acceptance$2.32B$582.40M
AXAxos Financial$1.95B$513.85M
MCMoelis$1.52B$356.89M
RDNRadian Group$1.25B$303.19M
UPSTUpstart$1.04B$277.11M
NNINelnet$821.71M$205.96M
LMNDLemonade$737.90M$194.50M

UPST Revenue FAQ

What is Upstart’s yearly revenue?

Upstart's yearly revenue for 2025 was $1.04B, representing an increase of 54.20% compared to 2024. The company's yearly revenue for 2024 was $676.96M, representing an increase of 23.60% compared to 2023. UPST's yearly revenue for 2023 was $547.72M, representing a decrease of -35.81% compared to 2022.

What is Upstart’s quarterly revenue?

Upstart's quarterly revenue for Q3 2025 was $277.1M, a 7.70% increase from the previous quarter (Q2 2025), and a 60.22% increase year-over-year (Q3 2024). The company's quarterly revenue for Q2 2025 was $257.29M, a 16.74% increase from the previous quarter (Q1 2025), and a 84.97% increase year-over-year (Q2 2024). UPST's quarterly revenue for Q1 2025 was $220.39M, a -2.65% decrease from the previous quarter (Q4 2024), and a 59.12% increase year-over-year (Q1 2024).

What is Upstart’s revenue growth rate?

Upstart's revenue growth rate for the last 3 years (2023-2025) was 90.58%, and for the last 5 years (2021-2025) was 22.82%.

What are Upstart’s revenue streams?

Upstart's revenue streams in c 25 are Servicing Fees, Other Fees, Collection Agency Fees, Borrower Fees, and Servicing Fees, Net. Servicing Fees generated $100.16M in revenue, accounting 32.97% of the company's total revenue, up 12.14% year-over-year. Other Fees generated $2.76M in revenue, accounting 0.91% of the company's total revenue, up 307.68% year-over-year. Collection Agency Fees generated $14.43M in revenue, accounting 4.75% of the company's total revenue, down -12.01% year-over-year. Borrower Fees generated $29.38M in revenue, accounting 9.67% of the company's total revenue, up 11.08% year-over-year. Servicing Fees, Net generated $157.03M in revenue, accounting 51.70% of the company's total revenue, up 18.02% year-over-year.

What is Upstart’s main source of revenue?

For the fiscal year ending Dec 25, the largest source of revenue of Upstart was Servicing Fees, Net. This segment made a revenue of $157.03M, representing 51.70% of the company's total revenue.