Upstart (UPST) r&d spend was $258M in FY2025 (+2% YoY). The tables below show the complete quarterly and annual r&d spend history, sourced from SEC EDGAR 10-K and 10-Q filings.
Annual R&D Spend
Fiscal Year
R&D Spend
YoY
2025
$258M
+2%
2024
$254M
-9%
2023
$280M
+18%
2022
$237M
+77%
2021
$134M
+245%
2020
$39M
+107%
2019
$19M
Recent Quarterly R&D Spend
Quarter
R&D Spend
Q1 2026
$80M
Q4 2025
$67M
Q3 2025
$64M
Q2 2025
$69M
Q1 2025
$58M
Q4 2024
$67M
Q3 2024
$65M
Q2 2024
$58M
Q1 2024
$63M
Q4 2023
$57M
Q3 2023
$55M
Q2 2023
$58M
Source: UPST on EDGAR. Data from SEC EDGAR 10-K and 10-Q filings. Updated quarterly.