undamentalytics Newsletter
Sign in

Upstart Holdings, Inc. cash flow statement

In fiscal 2025, Upstart Holdings, Inc.'s operations generated −$148m of cash; it spent $347,000 on capital projects, leaving free cash flow of −$148m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash from operations3216168−658−112186−148−181
Depreciation and amortisation1281425212512
Stock-based pay41273126175133132152
Capital spending41892106
Free cash flow2814160−667−113185−148−187
Free cash flow after stock pay24387−793−28852−280−339
Share buybacks——017800——
Shares issued0026400———

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

Compare with peers

Head to head: PRAA vs UPSTPGY vs UPSTEZPW vs UPSTUPST vs XYF

More: Consumer Finance stocks compared, Financials sector, rankings of US companies

Figures from Upstart Holdings, Inc.'s SEC filings (10-K and 10-Q), retrieved November 3, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Upstart Holdings, Inc.