v3.26.3
Variable Interest Entities - Schedule of Financial Assets and Liabilities from Variable Interest Entities (Details) - USD ($)
$ in Thousands
Sep. 30, 2026
Jun. 30, 2026
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Dec. 31, 2024
Variable Interest Entity [Line Items]            
Total assets [1] $ 3,339,042   $ 2,974,805      
Liabilities [1] 2,451,622   2,175,990      
Net Assets 887,420 $ 797,488 798,815 $ 743,718 $ 722,010 $ 633,218
Variable Interest Entity, Primary Beneficiary            
Variable Interest Entity [Line Items]            
Total assets 845,660   915,955      
Liabilities 361,718   167,444      
Net Assets 483,942   748,511      
Variable Interest Entity, Primary Beneficiary | Consolidated securitization            
Variable Interest Entity [Line Items]            
Total assets 32,298   58,275      
Liabilities 25,505   46,542      
Net Assets 6,793   11,733      
Variable Interest Entity, Primary Beneficiary | Consolidated warehouse entities            
Variable Interest Entity [Line Items]            
Total assets 519,210   167,158      
Liabilities 332,523   101,791      
Net Assets 186,687   65,367      
Variable Interest Entity, Primary Beneficiary | Other consolidated VIEs            
Variable Interest Entity [Line Items]            
Total assets 294,152   690,522      
Liabilities 3,690   19,111      
Net Assets 290,462   671,411      
Variable Interest Entity, Not Primary Beneficiary | Securitizations            
Variable Interest Entity [Line Items]            
Total assets 2,989,933   2,016,813      
Liabilities 2,059,774   1,426,987      
Net Assets 930,159   589,826      
Maximum Exposure to Losses $ 145,796   $ 101,670      
[1] The following table presents information on assets and liabilities related to VIEs that are consolidated by Upstart Holdings, Inc. at December 31, 2025 and September 30, 2026, 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,September 30,
20252026
Assets
Cash and cash equivalents
$1,183 $2,099 
Restricted cash89,088 76,878 
Loans (at fair value)819,344 760,061 
Other assets (includes $225 and $78 at fair value as of December 31, 2025 and September 30, 2026, respectively)
6,340 6,622 
Total assets$915,955 $845,660 
Liabilities
Payable to investors$154 $— 
Borrowings97,333 327,604 
Payable to securitization note holders (at fair value)46,542 25,505 
Accrued expenses and other liabilities23,415 8,609 
Total liabilities167,444 361,718 
Total net assets$748,511 $483,942