Upstart Holdings Announces Q3 2026 Financial Results

Upstart Holdings, which provides artificial intelligence-based lending evaluation technologies, announced its financial results for the third quarter ended September 30, 2026. While the company achieved a record level of loan approvals during this period, it revised its annual revenue guidance downward due to macroeconomic challenges.

In the third quarter, Upstart Holdings approved 574,089 loans totaling $4.1 billion, representing a 44% increase. The company's total revenue for this period reached $365 million, an increase of 34% compared to the same period of the previous year. GAAP net income rose 15% to $36.6 million, while adjusted EBITDA increased by 25% to $89.3 million.

Due to challenging macroeconomic conditions where inflation outpaced wage growth, management lowered its full-year 2026 revenue guidance by $50 million to $1.35 billion. It was noted that even this revised figure points to a 35% increase compared to 2025, and evaluations regarding the company's performance were addressed by Chairman Dave Girouard and CEO Paul Gu.