Upstart Holdings returned to GAAP profitability in the second quarter as revenue of $365M beat estimates and originations grew 50%.

Upstart Holdings reported second quarter 2026 revenue of $364.7 million, up 42% year-over-year and beating analyst estimates. However, diluted EPS of $0.16 missed expectations. The results were driven by a significant re-acceleration in loan originations, which grew 50% to $4.2 billion.

Key Highlights

• Loan originations for the quarter reached $4.2 billion, a 50% increase year-over-year.
• The company returned to GAAP profitability, posting a net income of $16.5 million, up 195% from $5.6 million in the same quarter last year.
• Contribution Margin expanded to 55%, an improvement from the prior quarter and ahead of the 52% analyst consensus.
• Upstart reaffirmed its full-year 2026 revenue guidance of approximately $1.4 billion.