Upstart Holdings, Inc. (UPST) Spending and interest coverage
- R&D / revenue · 12 months: Value 24.47%; Formula and calculation Research and development expense / revenue. Period ending 2026-06-30..
- Stock-based compensation / revenue · 12 months: Value 11.71%; Formula and calculation Share-based compensation / revenue. Period ending 2026-06-30..
- Interest coverage · 12 months: Value (m); Formula and calculation Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified..
Spending and interest coverage
Overview →Financial period ending 2026-06-30; current quote (m). Amounts retain their stated periods and units.
| Metric | Value | Formula and calculation |
|---|---|---|
| R&D / revenue · 12 months | 24.47% | Research and development expense / revenue. Period ending 2026-06-30. $304.91M ÷ $1.25B × 100 ≈ 24.47% |
| Stock-based compensation / revenue · 12 months | 11.71% | Share-based compensation / revenue. Period ending 2026-06-30. $145.88M ÷ $1.25B × 100 ≈ 11.71% |
| Interest coverage · 12 months | (m) | Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified. Calculation unavailable: missing inputs remain (m). |
Calculation inputs
| Input | Amount with unit | Raw financial data |
|---|---|---|
| Research and development spending | 304.91M USD | Research and Development Expense |
| Revenue | 1.25B USD | Revenue from Contract with Customer, Excluding Assessed Tax |
| Stock-based compensation | 145.88M USD | Share-based Payment Arrangement, Noncash Expense |
| Operating income | 49.71M USD | Operating Income (Loss) |
| Interest expense · reported / estimated | (m) | Interest Expense · Estimated expense assumptions |
Latest interest expense basis: (m). Estimated values carry *; expand each history row’s basis for its dated balances and rate assumptions.
Calculated history
Changes compare with the next older row (previous quarter), unless explicitly labeled otherwise. Rolling 12-month growth compares two successive quarter-end rolling totals; it is not year-over-year growth.
| Period ending | Research and development spending (USD) | Revenue (USD) | Stock-based compensation (USD) | Operating income (USD) | Interest expense · reported / estimated (USD) | R&D / revenue | SBC / revenue | Interest coverage | Interest expense basis |
|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | $304.91M | $1.25B | $145.88M | $49.71M | (m) | 24.47% | 11.71% | (m) | (m) |
| 2026-03-31 | $279.88M | $1.14B | $136.93M | $39.61M | (m) | 24.58% | 12.03% | (m) | (m) |
| 2025-12-31 | $257.60M | $1.04B | $131.95M | $42.63M | (m) | 24.68% | 12.64% | (m) | (m) |
| 2025-09-30 | $257.91M | $966.73M | $129.29M | $18.96M | (m) | 26.68% | 13.37% | (m) | (m) |
| 2025-06-30 | $258.77M | $851.77M | $128.76M | $-49.86M | (m) | 30.38% | 15.12% | (m) | (m) |
| 2025-03-31 | $248.40M | $722.11M | $127.45M | $-109.88M | (m) | 34.40% | 17.65% | (m) | (m) |
| 2024-12-31 | $253.65M | $636.53M | $133.40M | $-172.86M | (m) | 39.85% | 20.96% | (m) | (m) |
| 2024-09-30 | $243.58M | $523.54M | $136.37M | $-215.61M | (m) | 46.53% | 26.05% | (m) | (m) |
| 2024-06-30 | $233.64M | $508.16M | $138.32M | $-214.30M | (m) | 45.98% | 27.22% | (m) | (m) |
| 2024-03-31 | $233.16M | $524.22M | $136.71M | $-192.16M | $38.48M | 44.48% | 26.08% | -4.99× | Reported |
| 2023-12-31 | $280.14M | $513.56M | $175.04M | $-256.52M | $34.89M | 54.55% | 34.08% | -7.35× | Reported |
| 2023-09-30 | $287.01M | $563.18M | $176.18M | $-267.52M | $25.35M | 50.96% | 31.28% | -10.55× | Reported |
| 2023-06-30 | $298.26M | $595.77M | $177.27M | $-281.77M | $18.98M | 50.06% | 29.75% | -14.84× | Reported |
| 2023-03-31 | $297.33M | $710.43M | $175.00M | $-280.53M | $17.02M | 41.85% | 24.63% | -16.49× | Reported |
| 2022-12-31 | $237.25M | $907.27M | $125.94M | $-113.86M | $10.84M | 26.15% | 13.88% | -10.50× | Reported |
| 2022-09-30 | $219.71M | $1.04B | $115.10M | $5.05M | $6.80M | 21.15% | 11.08% | 0.74× | Reported |
| 2022-06-30 | $190.62M | $1.07B | $98.76M | $91.74M | $4.02M | 17.81% | 9.23% | 22.83× | Reported |
| 2022-03-31 | $165.00M | $999.09M | $89.61M | $160.14M | $3.20M | 16.52% | 8.97% | 50.00× | Reported |
| 2021-12-31 | $134.00M | $801.27M | $73.19M | $140.88M | $3.27M | 16.72% | 9.13% | 43.03× | Reported |
| 2021-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2021-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2021-03-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2020-12-31 | $38.80M | $228.60M | $11.51M | $11.77M | $8.03M | 16.97% | 5.04% | 1.47× | Reported |
| 2020-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2020-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2020-03-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2019-12-31 | $18.78M | $159.85M | $3.81M | $-4.58M | $26.48M | 11.75% | 2.38% | -0.17× | Reported |
(m) means missing inputs. Historical market-based ratios use the saved close on or immediately before period ending and that period’s reported shares; current quotes are not substituted. Five-year projections repeat historical CAGR, not analyst forecasts.
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