Upstart Holdings (NASDAQ: UPST) will release its financial results for the third quarter of fiscal year 2026 on Tuesday, November 3, 2026. The AI lending marketplace plans to publish its earnings release and related materials at approximately 7:00 am ET that morning.

Earnings call details

The company will host a live video webcast to discuss the quarterly performance at 8:00 am ET. Investors and analysts can access the live stream and a subsequent replay through Upstart’s investor relations website. The earnings release itself will be available at the same digital location roughly one hour prior to the scheduled call.

Shareholder engagement

In addition to standard analyst questions during the conference call, Upstart has opened a channel for shareholder inquiries. Shareholders may submit questions for consideration via X (@Upstart) until 7:30 am ET on November 3, 2026. This provision allows retail investors to participate in the dialogue alongside institutional analysts.

About Upstart

Upstart operates an artificial intelligence lending marketplace connecting consumers with more than 100 banks and credit unions. The platform leverages AI models to approve borrowers at lower rates while maintaining a digital-first experience. More than 90% of loans processed through the platform are fully automated without human intervention. Founded in 2012 and based in Burlingame, California, Upstart’s offerings include personal loans, automotive loans, home equity lines of credit, and the Cash Line revolving credit product.

Upstart Holdings (NASDAQ: UPST) reported September 2026 loan originations of $1,378.3 million, averaging $53.1 million per day. The company’s Upstart Macro Index (UMI) remained stable at 1.49, signaling sustained elevated credit risk relative to its baseline.

Origination Volume Performance

The AI lending marketplace facilitated $4,117.8 million in total originations for the third quarter of fiscal year 2026 (July–September). This translates to an average of $51.6 million per origination day across the 79.85 effective funding days in the quarter. September alone accounted for approximately one-third of the quarterly volume, with daily rates slightly exceeding the quarterly average.

Credit Risk Indicators

The UMI reading of 1.49 is down marginally from 1.50 recorded on September 3, 2026. This index estimates the impact of macroeconomic conditions on credit losses for Upstart-powered loans. A value of 1.49 indicates that default risk is approximately 49% higher than what Upstart expects in a normal economy (UMI of 1.0). While this reflects a sustained period of elevated risk since early 2022, it remains below the series peak of 1.68 reached in 2024.

What the Numbers Show

A divergence exists between volume velocity and risk pricing. September’s daily origination rate of $53.1 million exceeds the Q3FY26 average of $51.6 million, suggesting increased marketplace activity or improved conversion efficiency toward the end of the quarter. However, this volume uptick coincides with a UMI that remains nearly 50% above baseline levels. This combination implies that while demand for Upstart’s AI-driven underwriting remains robust, the underlying macroeconomic environment continues to necessitate conservative risk assumptions in loan pricing and approval models.

Methodology and Definitions

Originations refer to the total principal amount of loans facilitated through Upstart’s marketplace. Origination days are calculated based on a 24-hour funding window, with weekends and holidays weighted at 0.55 days to reflect lower application activity. The UMI serves as a proxy for the macroeconomic risk assumptions factored into new loan approvals and provides directional insight into the performance of existing portfolios.