Upstart's third quarter 2026 earnings beat expectations as originations reached $4.1 billion

Upstart reported third quarter 2026 financial results that exceeded analyst expectations on both the top and bottom lines. Total revenue grew 34% year-over-year to $371 million, driven by record fee revenue and significant improvements in automated loan processing.

Key Highlights

• Loan originations totaled $4.12 billion, a 44% year-over-year increase, supported by a record 574,089 loans originated during the period.
• Contribution profit reached an all-time high of $218 million, yielding a 60% contribution margin compared to 57% in the prior year.
• Secured products, including Auto and Home, achieved a positive 17% contribution margin, reaching this profitability milestone one quarter ahead of management's target.
• Management issued full-year 2026 guidance, expecting total revenue of approximately $1.35 billion and adjusted EBITDA of $260 million.