​

Upstart (UPST) Revenue & Revenue Breakdown

OverviewForecastOwnershipFinancialsChartTranscripts

Upstart Revenue Highlights

Latest Revenue (Y)

$1.04B

Latest Revenue (Q)

$308.21M

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
2026-03-31$308.21M1.33%
2025-12-31$304.17M6.39%
2025-09-30$285.90M7.86%
2025-06-30$265.06M20.27%
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-7.00%
2023-12-31$148.94M3.45%
2023-09-30$143.97M2.80%
2023-06-30$140.05M27.25%
2023-03-31$110.06M-25.00%
2022-12-31$146.75M-8.44%
2022-09-30$160.28M-30.46%
2022-06-30$230.47M-25.91%
2022-03-31$311.10M2.28%
2021-12-31$304.16M32.98%
2021-09-30$228.72M17.03%
2021-06-30$195.44M59.71%
2021-03-31$122.38M55.42%
2020-12-31$78.74M22.63%
2020-09-30$64.21M227.68%
2020-06-30$19.59M-70.99%
2020-03-31$67.54M-0.90%
2019-12-31$68.15M37.71%
2019-09-30$49.49M-

Upstart generated $308.21M in revenue during Q1 2026, up 1.33% compared to the previous quarter, and up 136.14% 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/ServiceMar 26Dec 25Jun 25Mar 25Dec 24Sep 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21
Other Fees$3.87M$1.83M$833.00K$97.00K$491.00K$88.00K$98.00K------------
Borrower Fees$10.09M$16.05M$6.66M$6.66M$12.70M$6.58M$7.16M$7.08M$3.25M----------
Servicing Fees, Net$52.45M$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$3.91M$6.93M$3.71M$3.79M$7.84M$3.96M$4.60M$3.17M$1.41M----------
Servicing Fees$32.33M$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 Mar 26: Servicing Fees, Net (51.09%), Servicing Fees (31.50%), Borrower Fees (9.83%), Collection Agency Fees (3.81%), and Other Fees (3.77%).

Upstart Peer Comparison by Revenue

TickerCompanyLast Year RevenueLast Quarter Revenue
SNEXStoneX Group$132.38B$45.76B
LAZLazard$3.19B$779.40M
BGCBGC Group$3.01B$955.48M
CACCCredit Acceptance$2.32B$580.00M
AXAxos Financial$1.95B$-1.06B
MCMoelis$1.52B$356.89M
RDNRadian Group$1.25B$466.34M
UPSTUpstart$1.04B$308.21M
NNINelnet$821.71M$211.23M
LMNDLemonade$737.90M$234.40M

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 Q1 2026 was $308.21M, a 1.33% increase from the previous quarter (Q4 2025), and a 39.85% increase year-over-year (Q1 2025). The company's quarterly revenue for Q4 2025 was $304.17M, a 6.39% increase from the previous quarter (Q3 2025), and a 34.35% increase year-over-year (Q4 2024). UPST's quarterly revenue for Q3 2025 was $285.9M, a 7.86% increase from the previous quarter (Q2 2025), and a 65.30% increase year-over-year (Q3 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.