Upstart Holdings, Inc. is an AI-powered lending marketplace that connects borrowers with lending partners including banks and credit unions, facilitating personal loans, auto loans, and home equity lines of credit using machine learning models to assess credit risk beyond traditional FICO-based underwriting. The company earns fees from lending partners and institutional investors for loan origination, servicing, and related platform services, and at times holds loans on its own balance sheet to support research and development activities and marketplace liquidity. As of March 2026, Upstart has announced its intent to apply to the OCC and FDIC to establish an insured national bank, Upstart Bank, N.A., and to the Federal Reserve to become a bank holding company.

What is UPST's DredgeCap risk score?

DredgeCap's AI analysis rates UPST at 5.5/10 on the risk scale — Moderate risk. This score reflects dilution exposure, debt toxicity, liquidity position, and going-concern posture as disclosed in SEC filings.

Does UPST have a going concern warning?

No current auditor going-concern warning is flagged in UPST's SEC filings. Risk assessment is based on other filing-disclosed factors.

When did UPST last file with the SEC?

UPST's most recent SEC filing was a 8-K filed 2026-03-10. All filings are available on SEC EDGAR.

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8-KMay 5, 2026

UPST — 8-K Filing

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8-K Items Disclosed

Item 2.02 — Results of Operations and Financial Condition

Quarterly or annual earnings results released. Often paired with a press release as Exhibit 99.1.

Item 9.01 — Financial Statements and Exhibits

Press releases, exhibits, and supporting documents attached to this filing.

UPST Filing Excerpt

upst-20260505UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORM 8-K CURRENT REPORTPursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934May 5, 2026Date of Report (Date of earliest event reported) Upstart Holdings, Inc. (Exact name of registrant as specified in its charter)Delaware001-3979746-4332431(State or other jurisdiction of incorporation)(Commission File Number)(I.R.S. Employer Identification No.)2950 S. Delaware Street, Suite 410 San Mateo, CA 94403(Address of principal executive offices, including zip code)(833) 212-2461 (Registrant's telephone number, including area code)Not Applicable(Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐…

Current DredgeCap Risk Profile

Risk Score

5.5/10

ELEVATED

Dilution

3.5

Debt Toxicity

5.0

Going Concern

✓ Not flagged

The risk profile above reflects the latest cached DredgeCap analysis for UPST. For the full filing-by-filing analyst report (red flags, primary risk driver, what moves the stock), open UPST's company page.

What is a 8-K?

A current report disclosing a material event that occurred between regular reporting periods. Companies are required to file an 8-K within four business days of certain events including earnings releases, executive changes, acquisitions, debt obligations, restructurings, and material agreements. Each 8-K specifies one or more 'Items' identifying which event triggered the filing.

More on UPST

The plain-language summary above is composed mechanically from the filing's reported numbers — no analysis or opinion. Form-type explainers and 8-K item descriptions are derived from SEC documentation. This page does not constitute investment advice. Always consult the original filing on SEC EDGAR for authoritative content, and consult a licensed financial advisor for investment decisions.