Operating Income for Upstart Holdings (UPST)
According to Upstart Holdings's latest reported financial statements, the company's current operating income (TTM) is $54.33M USD. Operating income is profit from core operations: revenue minus cost of goods sold and operating expenses (SG&A, R&D). It excludes interest, taxes, and non-operating items, so it isolates how profitable the business itself is before financing and tax decisions. Compare with EBITDA and net income.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
UPST
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TTM (last 4 quarters)
$54.33M
YoY change
-142.3%
5Y CAGR
+55.6%
Peak year (2021)
$133.73M
Cumulative operating income
-$303.94M
Operating Income history chart for Upstart Holdings (UPST) from 2017 to 2025
Operating Income history table for Upstart Holdings (UPST) from 2017 to 2025
| Fiscal year | Period ended | Reported | Operating Income | YoY |
|---|---|---|---|---|
| 2025 | $54.33M | -142.3% | ||
| 2024 | -$128.40M | -46.5% | ||
| 2023 | -$240.03M | +120.1% | ||
| 2022 | -$109.07M | -181.6% | ||
| 2021 | $133.73M | +2147.6% | ||
| 2020 | $5.95M | -220.3% | ||
| 2019 | -$4.95M | -38.0% | ||
| 2018 | -$7.97M | +5.8% | ||
| 2017 | -$7.54M | — |
Operating Income values are taken from Upstart Holdings's reported income statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
In 2025, Upstart Holdings (UPST) operating income totalled $54.33M – plunged 142.3% year-over-year.
Upstart Holdings operating income compound annual growth for the 2020–2025 (5 years) window is +55.6%, sustaining 2 straight years of year-over-year growth.
Upstart Holdings operating income peaked at $133.73M in 2021; the latest annual figure is $54.33M in 2025 (59.4% below peak).
2021 marks the peak operating income at $133.73M, with the historical low of -$240.03M recorded in 2023.
Upstart Holdings (UPST) sits 9th of 8 Financial Services peers we track on this metric, against a peer median of $24.60B.
Upstart Holdings Operating Income by Year
Upstart Holdings Operating Income 2025: $54.33M
Upstart Holdings operating income in 2025 was $54.33M, plunged 142.3% below 2024.
Upstart Holdings Operating Income 2024: -$128.40M
Upstart Holdings operating income in 2024 was -$128.40M, plunged 46.5% below 2023.
Upstart Holdings Operating Income 2023: -$240.03M
Upstart Holdings operating income in 2023 was -$240.03M, surged 120.1% from 2022. This figure represents the lowest annual value in the available history.
Upstart Holdings Operating Income 2022: -$109.07M
Upstart Holdings operating income in 2022 was -$109.07M, plunged 181.6% below 2021.
Upstart Holdings Operating Income 2021: $133.73M
Upstart Holdings operating income in 2021 was $133.73M.
See more financial history for Upstart Holdings (UPST).
Sector peers — Operating Income
Companies in the same sector as Upstart Holdings, ranked by their latest operating income.
| Company | Operating Income | Sector |
|---|---|---|
| JPMorgan Chase & Co. (JPM) | $72.59B | Financial Services |
| Berkshire Hathaway Inc. (BRK-B) | $59.54B | Financial Services |
| Bank of America Corporation (BAC) | $37.70B | Financial Services |
| Wells Fargo & Company (WFC) | $25.20B | Financial Services |
| Visa Inc. (V) | $23.99B | Financial Services |
| Morgan Stanley (MS) | $21.95B | Financial Services |
| The Goldman Sachs Group, Inc. (GS) | $21.85B | Financial Services |
| Mastercard Incorporated (MA) | $19.40B | Financial Services |
Frequently asked questions
What is Upstart Holdings's operating income?
- Latest reported operating income for Upstart Holdings (UPST) is $54.33M (period ending December 31, 2025).
How has Upstart Holdings operating income changed year-over-year?
- Upstart Holdings (UPST) operating income changed -142.3% year-over-year on the latest annual filing.
What is the long-term growth rate of Upstart Holdings operating income?
- Upstart Holdings (UPST) operating income compound annual growth rate is +55.6% over the most recent 5 years available.
When did Upstart Holdings operating income hit its highest annual value?
- Upstart Holdings operating income reached its highest annual value of $133.73M in 2021.
What was Upstart Holdings operating income in 2024?
- Upstart Holdings (UPST) operating income in 2024 was -$128.40M.
What was Upstart Holdings operating income in 2025?
- Upstart Holdings (UPST) operating income in 2025 was $54.33M.
Metrics overview
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