Upstart Holdings Inc (NASDAQ: UPST) reported monthly origination volume of $1,342.1 million for August 2026. The AI lending marketplace also released its latest Upstart Macro Index (UMI) reading, which remained unchanged at 1.50.

The company processed these originations over 26.5 effective funding days. This activity resulted in a daily origination average of $50.7 million. These figures represent the total principal amount of loan originations facilitated through the platform during the period.

Macro Risk Assessment

The September 3, 2026 UMI reading of 1.50 matches the previous reading from August 3, 2026. This index estimates the impact of the macroeconomy on credit losses for Upstart-powered loans.

A UMI of 1.50 is approximately 50% above the baseline expected in a normal economy, which is set at 1.0. The index has remained above this baseline since early 2022. However, it stays below the series peak of 1.68 recorded in 2024.

What the Numbers Show

The stability of the UMI at 1.50 suggests that Upstart’s underwriting models continue to price in elevated macroeconomic risk relative to historical norms. While the index indicates sustained default risk pressure compared to the long-run baseline, the fact that it remains below the 2024 peak implies that current risk assumptions are less severe than those observed two years ago. This divergence between the current elevated state and the prior peak provides context for the risk profile embedded in new loan approvals.

Methodology Notes

Originations refer to Transaction Volume Dollars as defined in SEC filings. Origination days are calculated based on a 24-hour funding window ending at approximately 5:00 pm Eastern Time. Weekend days and bank holidays are weighted at 0.55 days to reflect lower application activity.

The data provided is unaudited and preliminary. It is subject to completion of financial closing procedures for quarterly results.

Upstart Holdings, Inc. (NASDAQ: UPST) announced that Co-founder and CEO Paul Gu will participate in a fireside chat at the Goldman Sachs Communacopia and Technology Conference. The session is scheduled for Tuesday, September 8, at 11:30 am PT (2:30 pm ET).

A live audio webcast of the event will be available on Upstart’s investor relations website. A replay of the webcast will be accessible for a limited period following the event.

About Upstart

Upstart is an artificial intelligence lending marketplace connecting consumers to more than 100 banks and credit unions. Founded in 2012, the Burlingame, California-based company leverages AI models and cloud applications to deliver credit products.

The platform includes personal loans, automotive loans, home equity lines of credit, and the new Cash Line product, a revolving line of credit. More than 90% of loans are fully automated with no human intervention by Upstart.