Upstart Q3 2026: Revenue Beats While Earnings Miss Expectations

As seen on the 24/7 Wall St. homepage on November 3, 2026.

UPST Upstart
Q3 2026
EPS
$0.33
est $0.65 -49.2%
Revenue
$371M
est $364M +1.9%

Originations jumped 44% to $4.1 billion, yet earnings still missed expectations by roughly 49% on negative fair value and other adjustments tied to loan losses. CEO Paul Gu says macro is pressuring the near-term outlook.

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Upstart's Q3 2026 revenue of $370.5 million came in above expectations, with originations up 44% year over year.

GAAP EPS of $0.33 missed expectations, driven by negative fair value and other adjustments on balance sheet loans.

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This is Upstart's third consecutive quarter missing expectations, so the fair value drag on balance sheet loans is not a one-quarter anomaly.

CEO Paul Gu flagged record Contribution Profit of $218 million while acknowledging macro pressure on the near-term outlook. Full-year 2026 guidance holds at roughly $1.35 billion in revenue.

Sources

Mentioned: UPST

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