Quick Answer
Upstart Holdings, Inc. reported R&D Expense of $257.60 million for fiscal year 2025.
Upstart Holdings, Inc. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $257.60M | +1.6% |
| 2024 | $253.65M | -9.5% |
| 2023 | $280.14M | +18.1% |
| 2022 | $237.25M | +77.1% |
| 2021 | $134.00M | +245.3% |
| 2020 | $38.80M | +106.6% |
| 2019 | $18.78M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $64.03M | -1.3% | -7.0% |
| June 30, 2025 | $68.83M | +17.7% | +19.0% |
| March 31, 2025 | $57.84M | -8.3% | -10.9% |
| September 30, 2024 | $64.89M | +18.1% | +11.0% |
| June 30, 2024 | $58.45M | +0.8% | -7.4% |
| March 31, 2024 | $63.09M | -42.7% | +14.8% |
| September 30, 2023 | $54.94M | -17.0% | -5.2% |
| June 30, 2023 | $57.97M | +1.6% | -47.3% |
- Upstart Holdings, Inc. showed an increase of +1.6% in R&D Expense compared to the prior fiscal year.
- Over the 2019–2025 period, Upstart Holdings, Inc.’s r&d expense has grown by 1271.9% (from $18.78 million to $257.60 million).
- The most recent figure is from Upstart Holdings, Inc.’s fiscal year 2025 report (Form 10-K), filed with the SEC on February 10, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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