v3.25.2
Variable Interest Entities - Schedule of Financial Assets and Liabilities from Variable Interest Entities (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Variable Interest Entity [Line Items]            
Total assets [1] $ 2,477,868   $ 2,366,958      
Liabilities [1] 1,755,858   1,733,740      
Net Assets 722,010 $ 676,642 633,218 $ 594,710 $ 612,798 $ 635,305
Variable Interest Entity, Primary Beneficiary            
Variable Interest Entity [Line Items]            
Total assets 976,160   812,109      
Liabilities 259,096   287,574      
Net Assets 717,064   524,535      
Variable Interest Entity, Primary Beneficiary | Consolidated securitization            
Variable Interest Entity [Line Items]            
Total assets 81,192   109,739      
Liabilities 65,153   87,322      
Net Assets 16,039   22,417      
Variable Interest Entity, Primary Beneficiary | Consolidated warehouse entities            
Variable Interest Entity [Line Items]            
Total assets 296,790   430,887      
Liabilities 190,716   196,982      
Net Assets 106,074   233,905      
Variable Interest Entity, Primary Beneficiary | Other consolidated VIEs            
Variable Interest Entity [Line Items]            
Total assets 598,178   271,483      
Liabilities 3,227   3,270      
Net Assets 594,951   268,213      
Variable Interest Entity, Not Primary Beneficiary | Securitizations            
Variable Interest Entity [Line Items]            
Total assets 1,153,835   507,666      
Liabilities 833,180   363,890      
Net Assets 320,655   143,776      
Maximum Exposure to Losses $ 58,676   $ 25,774      
[1] The following table presents information on assets and liabilities related to variable interest entities (“VIEs”) that are consolidated by Upstart Holdings, Inc. at December 31, 2024 and June 30, 2025, respectively. The liabilities of each VIE can only be settled using the assets of the corresponding VIE and creditors of these entities do not have recourse to the general credit of Upstart Holdings, Inc. The assets and liabilities in the table below exclude intercompany balances that eliminate in consolidation.
December 31,June 30,
20242025
Assets
Cash and cash equivalents
$1,312 $340 
Restricted cash47,642 86,497 
Loans (at fair value)750,184 882,345 
Other assets (includes $1,864 and $493 at fair value as of December 31, 2024 and June 30, 2025, respectively)
12,971 6,978 
Total assets$812,109 $976,160 
Liabilities
Payable to investors$154 $154 
Borrowings195,606 189,540 
Payable to securitization note holders (at fair value)87,321 65,152 
Accrued expenses and other liabilities4,493 4,250 
Total liabilities287,574 259,096 
Total net assets$524,535 $717,064