Upstart Reports Q3 2026 Earnings and Revises Annual Outlook

Upstart reported third-quarter 2026 revenue of $370.5 million, a 34% year-over-year increase that surpassed consensus estimates of $364.6 million. The company achieved earnings of 66 cents per share, beating the Zacks consensus estimate of 60 cents. Despite these results, management reduced its 2026 total revenue forecast to approximately $1.35 billion from $1.4 billion and lowered its adjusted EBITDA guidance to $260 million from $294 million. CEO Paul Gu cited worsening borrower health and higher interest rates as primary factors impacting balance-sheet income. Conversely, the company raised its fee revenue guidance to $1.32 billion from $1.3 billion, reflecting continued growth in its core platform business.