Upstart Holdings, Inc. (UPST) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: May 05, 2026

Risk Assessment Details

Potential Dilution: 9.55% of current shares
Recent Dilution: 20.69% (2 years)
Historical Dilution Factor: moderate recent dilution
Outstanding Shares
94M
Potential Supply
9M
Additional shares possible
Splits
None
Past 2 years

Summary

UPST currently has 94.3M outstanding shares. with limited dilution risk as only 9M additional shares (9.5%) are authorized for issuance. The company has diluted shareholders by 20.69% over the past 2 years through share issuances.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 05, 2026

10-Q filing | 94.3M shares outstanding

94M 9M
Nov 04, 2025

10-Q filing | 90.1M shares outstanding

90M 9M
Aug 05, 2025

10-Q filing | 88.4M shares outstanding

88M 9M
May 06, 2025

10-Q filing | 87.0M shares outstanding

87M 9M
Feb 14, 2025

10-K filing | 93.7M shares outstanding

94M 9M
Nov 08, 2024

10-Q filing | 84.4M shares outstanding

84M 9M
Aug 07, 2024

10-Q filing | 83.1M shares outstanding

83M 9M
May 08, 2024

10-Q filing | 81.9M shares outstanding

82M 9M
Feb 15, 2024

10-K filing | 78.1M shares outstanding

78M 9M
Nov 08, 2023

10-Q filing | 81.7M shares outstanding

82M 9M
Aug 09, 2023

10-Q filing | 83.8M shares outstanding

84M 9M
May 10, 2023

10-Q filing | 84.2M shares outstanding

84M 9M
Feb 16, 2023

10-K filing | 81.4M shares outstanding

81M 9M
Nov 09, 2022

10-Q filing | 79.4M shares outstanding

79M 9M
Aug 09, 2022

10-Q filing | 76.7M shares outstanding

77M 9M
May 10, 2022

10-Q filing | 91.4M shares outstanding

91M 9M
Feb 23, 2022

8-K filing: On February 18, 2022, Upstart Holdings, Inc. granted a performance-based restricted stock unit to Paul Gu, their co-founder, Senior Vice President, Product and Data Science and a member of their board of directors, which will vest based on the company's stock price reaching certain targets over a 7-year period, with a maximum of 687,500 shares vesting if the stock price reaches $616 for 60 consecutive trading days.

84M 9M
Feb 18, 2022

10-K filing | 84.1M shares outstanding

84M 9M
Nov 12, 2021

10-Q filing | 82.0M shares outstanding

82M 9M
Aug 13, 2021

10-Q filing | 77.8M shares outstanding

78M 9M
May 14, 2021

10-Q filing | 76.9M shares outstanding

77M 9M
Dec 09, 2020

S-1/A filing: This S-1/A filing includes information about a common stock offering with a proposed offering price of $21.00 per share and 9,000,000 shares offered. It also discloses the shares outstanding before the offering.

63M 9M
Dec 07, 2020

S-1/A filing: This is an S-1/A filing detailing recent sales of unregistered securities since January 1, 2017, including convertible notes, warrants, preferred stock, common stock, and option issuances.

63M 17M
Dec 04, 2020

S-1/A filing: This S-1/A filing includes information about a proposed offering of common stock with an assumed initial public offering price of $21.00 per share.

63M 9M
Nov 06, 2020

S-1/A filing: SEC filing summary including convertible note, warrant, preferred stock, and common stock issuances, along with option grants to directors, officers, employees, consultants, and other service providers from January 1, 2017 through the filing date.

N/A 12M
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