Upstart stock posts 34% revenue growth, sets 2026 outlook
Published on 11/03/2026 at 14:21 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSUpstart reports stronger lending growth
- Originations reached USD 4.1 billion, increasing 44 percent year over year in the third quarter.
- Record fee revenue and a positive secured-product contribution margin supported profitability.
- Management expects full-year adjusted EBITDA of USD 260 million, equal to a 19 percent margin.
Upstart Holdings announced its third-quarter results on Tuesday, November 3, 2026, for the period ended September 30. The Business Wire release, carried by Yahoo Finance, showed higher lending volumes, record fee revenue and a more cautious full-year profitability outlook.
Growth lifts quarterly operating results
Originations rose 44 percent year over year to USD 4.1 billion, while the number of loans increased 34 percent to a record 574,089. Total revenue reached USD 370.5 million, up 34 percent, and revenue from fees climbed 41 percent to USD 364.0 million.
Net income increased to USD 36.6 million from USD 31.8 million a year earlier. Diluted earnings per share rose to USD 0.33 from USD 0.23. Contribution profit reached a record USD 218.0 million, up 48 percent, and the contribution margin widened to 60 percent from 57 percent.
Secured products move into positive territory
Upstart said the combined contribution margin for its secured products, including auto and home lending, reached positive 17 percent. The company said this milestone arrived one quarter ahead of its target. Unsecured lending generated USD 330 million in fee revenue, with contribution profit of USD 212 million.
Adjusted EBITDA increased 26 percent to USD 89.3 million, but its margin narrowed to 24 percent from 26 percent. Management said macroeconomic conditions are putting pressure on the near-term outlook, leaving credit performance, funding conditions and loan demand important factors for investors.
Full-year targets emphasize execution
For 2026, Upstart expects fee revenue of approximately USD 1.32 billion, total revenue of approximately USD 1.35 billion and adjusted EBITDA of approximately USD 260 million, equivalent to a 19 percent margin. The outlook places emphasis on converting marketplace growth into consistent earnings while the company expands secured products.
The real-time quote of Upstart stock was 18.66 euros on Lang & Schwarz at 14:12 CET on Tuesday, November 3, 2026.
Upstart Holdings at a glance
- Company: Upstart Holdings, Inc.
- ISIN: US91680M1071
- Ticker: UPST
- Third-quarter period: Ended September 30, 2026
- Lang & Schwarz quote: 18.66 euros at 14:12 CET on November 3, 2026
- Third-quarter total revenue: USD 370.5 million
- Full-year adjusted EBITDA outlook: Approximately USD 260 million, or 19 percent of total revenue
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