v3.25.2
Borrowings - Narrative (Details)
1 Months Ended 3 Months Ended 6 Months Ended
Jun. 27, 2025
Jun. 26, 2025
Sep. 16, 2024
Aug. 20, 2021
Nov. 30, 2024
USD ($)
$ / shares
Sep. 30, 2024
USD ($)
day
$ / shares
Aug. 31, 2021
USD ($)
day
$ / shares
Jun. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
$ / shares
Jun. 30, 2025
USD ($)
Dec. 31, 2024
USD ($)
Schedule of Borrowings [Line Items]                      
Outstanding borrowings               $ 1,449,649,000   $ 1,449,649,000 $ 1,425,984,000
Securities loaned, fair value of collateral               29,900,000   29,900,000 0
Convertible senior notes                      
Schedule of Borrowings [Line Items]                      
Outstanding borrowings               1,230,379,000   1,230,379,000 1,230,379,000
Conversion price maximum threshold           130.00%          
Trading days | day           20          
Consecutive trading days | day           30          
Redemption price (in percent)           100.00% 100.00%        
Interest expense               0   7,200,000  
Accrued interest               0   0 3,300,000
Convertible senior notes | Conversion Period One                      
Schedule of Borrowings [Line Items]                      
Conversion price maximum threshold             130.00%        
Trading days | day             20        
Consecutive trading days | day             30        
Convertible senior notes | Conversion Period Two                      
Schedule of Borrowings [Line Items]                      
Trading days | day             5        
Consecutive trading days | day             5        
Percentage of the last reported sale price             98.00%        
Risk retention financing facility | Secured debt                      
Schedule of Borrowings [Line Items]                      
Aggregate principal amount               100,000,000.0   100,000,000.0  
Outstanding borrowings               29,731,000   29,731,000 0
Securities loaned, fair value of collateral               $ 29,900,000   $ 29,900,000  
Weighted average interest rate               0.40%   0.40%  
2026 Notes | Convertible senior notes                      
Schedule of Borrowings [Line Items]                      
Aggregate principal amount             $ 661,300,000        
Stated interest rate             0.25%        
Repurchase amount           $ 334,200,000     $ 334,200,000    
Additional repurchased amount           27,900,000     27,900,000    
Gain on debt extinguishment                 33,400,000    
Initial conversion rate (in shares)       0.0035056              
Initial conversion price (in dollars per share) | $ / shares             $ 285.26        
Gross debt issuance cost             $ 15,700,000        
Effective interest rate             0.70%        
2029 Notes | Convertible senior notes                      
Schedule of Borrowings [Line Items]                      
Aggregate principal amount           $ 431,300,000     $ 431,300,000    
Stated interest rate           2.00%     2.00%    
Issuance of notes           $ 302,400,000          
Initial conversion rate (in shares)     0.0219029                
Initial conversion price (in dollars per share) | $ / shares           $ 45.66     $ 45.66    
Gross debt issuance cost           $ 10,400,000     $ 10,400,000    
Effective interest rate           2.50%     2.50%    
2030 Notes | Convertible senior notes                      
Schedule of Borrowings [Line Items]                      
Aggregate principal amount         $ 500,000,000.0            
Stated interest rate         1.00%            
Initial conversion rate (in shares)         0.0108702            
Initial conversion price (in dollars per share) | $ / shares         $ 91.99            
Gross debt issuance cost         $ 11,800,000            
Effective interest rate         1.40%            
Revolving Credit Facility | Upstart Loan Trust                      
Schedule of Borrowings [Line Items]                      
Basis spread on variable rate 2.40% 2.80%                  
Outstanding borrowings               $ 115,232,000   $ 115,232,000 $ 34,217,000