Risk factors
Upstart Holdings (UPST) risk factors
Item 1A of every Upstart Holdings, Inc. 10-K on file, and what changed from one year to the next. Readings are automated and can be wrong; check the filing for the exact wording.
- FY2025 10-K risk factors56 risks11 new40 dropped40 reworded
Upstart faces heightened scrutiny on AI model performance, particularly underperforming loan vintages from late 2023 and early 2024.
Filed Feb 10, 2026 - FY2024 10-K risk factors85 risks
Upstart faces heavy reliance on its top three lending partners, who generated 63% of total revenue in 2024. The company depends heavily on unsecured personal loans and institutional funding resilience. AI model performance during economic downturns remains a core operational risk.
Filed Feb 14, 2025