Upstart posts strong Q3 results but lowers 2026 outlook
Upstart reported Q3 2026 revenue of $370.5M, net income of $36.6M and EPS of $0.33 on November 3. Originations rose 44% year over year to $4.1B, while contribution profit reached a record $218M with a 60% margin. The company lowered its 2026 outlook to $1.35 billion of revenue and $260 million of adjusted EBITDA from $1.4 billion and $294 million, citing worsening macroeconomic conditions.
Why it matters
The results show stronger operating performance and profitability, but the lower outlook reduces expected 2026 revenue and adjusted EBITDA. Upstart also expects to launch Upstart Bank in early 2027, subject to remaining regulatory approvals, which would change how some loans are funded.
Key facts
- 1Q3 revenue was $370.5M, net income was $36.6M and EPS was $0.33. tradingview.com
- 2Q3 originations reached $4.1 billion, up 44% year over year. investing.com
- 3Contribution profit was $218 million, up 48% year over year, with a 60% margin. investing.com
- 4Secured lending achieved a positive 17% contribution margin in Q3. finance.yahoo.com
- 5Upstart’s revised 2026 outlook calls for $1.35 billion of total revenue and $260 million of adjusted EBITDA, compared with prior guidance of $1.4 billion and $294 million. 247wallst.com
- 6Upstart Bank is targeted to open in early 2027, subject to remaining regulatory approvals. finance.yahoo.com
Open questions
- Materials differ on the revised 2026 revenue outlook, with one citing $1.32B and others citing $1.35B on an apparently comparable total-revenue basis.
Summary written by AlphAI AI Desk from 9 of 16 sources. Not investment advice. Figures are as stated by the linked sources.