UPST Stock Cash Flow Statements

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Operating Cash Flow

Investing Cash Flow

Financing Cash Flow

Net Income

Quarterly

Annual

Quarterly Cash Flow Statements

Quarterly

Annual

Unit: USD	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31

cash flows from operating activities
net income	-42,398,000	-40,315,000	-28,165,000	-129,254,000		-56,223,000	-29,871,000	32,692,000
adjustments to reconcile net income to net cash from operating activities:
change in fair value of financial instruments	83,505,000	52,679,000	39,592,000	59,046,000	97,822,000	21,953,000	30,747,000	18,356,000	5,611,000	-1,672,000	-5,068,000	901,000
stock-based compensation	32,766,000	35,568,000	32,596,000	74,109,000	33,910,000	36,656,000	30,329,000	25,050,000	23,061,000	20,317,000	21,186,000	8,622,000
gain on loan servicing rights
depreciation and amortization	9,103,000	4,934,000	4,425,000	6,441,000	3,654,000	3,724,000	3,354,000	2,781,000	2,557,000	2,185,000	1,983,000	816,000
non-cash interest expense	761,000	763,000	767,000	766,000	753,000	757,000	761,000	776,000
other	-1,609,000	-343,000	-943,000	-974,000
net changes in operating assets and liabilities:
purchases of loans held-for-sale
proceeds from sale of loans held-for-sale	639,269,000	608,754,000	817,265,000	449,339,000	5,973,626,000	220,392,000	583,835,000	50,764,000
principal payments received for loans held-for-sale	50,164,000	37,753,000	43,880,000	57,949,000	47,969,000	37,259,000	46,462,000	20,328,000	4,261,000	722,000	1,039,000	2,637,000
principal payments received for loans held by consolidated securitization	12,530,000
settlements of beneficial interest liabilities
other assets	-8,959,000	3,853,000	-4,132,000	306,000	-4,546,000	-4,477,000	5,909,000	7,287,000	-39,236,000	-3,155,000	-9,663,000	-9,988,000
operating lease liability and right-of-use asset	-8,385,000	125,000	222,000	1,216,000	2,509,000	2,430,000	2,681,000	2,584,000	2,098,000	580,000	214,000	234,000
accounts payable	5,572,000	87,000	384,000	-12,170,000	8,432,000	-11,633,000	11,708,000	3,371,000	-2,957,000	-7,936,000	9,187,000	-5,807,000
payable to investors	1,930,000	5,917,000	-1,106,000	-49,730,000	-3,067,000	-11,868,000	-34,090,000	32,204,000	23,286,000	7,365,000	20,457,000	10,989,000
accrued expenses and other liabilities	15,692,000	4,350,000	1,284,000	-19,155,000	-5,806,000	-535,000	-13,866,000	-11,093,000	29,722,000	6,069,000	19,184,000	4,601,000
net cash from operating activities	-143,712,000	-103,433,000	162,379,000	-75,727,000	-252,877,000	-101,366,000	-53,643,000	-266,795,000	-11,144,000	43,601,000	92,804,000	43,092,000
cash flows from investing activities
purchases and originations of loans held-for-investment
proceeds from sale of loans held-for-investment	198,000				2,296,000	11,910,000
principal payments received for loans held-for-investment	24,119,000	27,900,000	26,005,000	24,422,000	15,600,000	9,187,000	9,127,000	9,397,000	9,810,000	7,234,000	4,486,000	3,002,000
principal payments received for notes receivable and repayments of residual certificates	772,000	560,000	1,430,000	1,566,000	1,228,000	1,596,000	1,845,000	2,067,000	2,343,000	2,766,000	3,230,000	3,119,000
purchases of property and equipment
capitalized software costs	-1,424,000	-2,811,000	-1,977,000	-4,347,000	-3,246,000	-4,013,000	-3,171,000	-3,658,000	-2,212,000	-2,328,000	-1,814,000	-334,000
acquisition of beneficial interest assets
purchases of non-marketable equity securities
purchase of certificates of deposit
acquisition, net of cash acquired									-196,000	0
net cash from investing activities	-29,893,000	-24,216,000	-38,494,000	-25,852,000	-85,113,000	-24,248,000	-9,941,000	5,177,000	-19,776,000	-84,402,000	-40,601,000	902,000
cash flows from financing activities
proceeds from borrowings	97,416,000	189,124,000	279,697,000	60,673,000	258,543,000	169,071,000	181,195,000	80,004,000	712,591,000	0	0	5,831,000
repayments of borrowings	-61,145,000	-117,148,000	-350,682,000	-46,962,000	-191,819,000	-107,466,000	-94,623,000	-6,990,000	-5,904,000	-2,957,000	-35,871,000	-26,584,000
principal payments made on securitization notes
proceeds from issuance of securitization notes	0
proceeds from secondary offering, net of underwriting discounts, commissions, and offering costs									0	0
payment of debt issuance costs									0
purchase of capped calls									0
proceeds from issuance of common stock under employee stock purchase plan	0	2,703,000	0	5,728,000	0	3,231,000	0	4,431,000	0
proceeds from exercise of stock options	3,406,000	2,803,000	5,135,000	1,537,000	1,628,000	1,319,000	3,781,000	5,626,000	4,963,000	6,841,000	1,440,000	1,492,000
taxes paid related to net share settlement of equity awards	-9,000	0	-1,000	-5,000	-8,000				0	0
repurchases of common stock					-27,813,000	-25,028,000
net cash from financing activities	26,364,000	232,784,000	-65,851,000	20,971,000	40,531,000	41,119,000	-34,689,000	83,071,000	50,400,000	595,029,000	229,264,000	-19,261,000
change in cash and restricted cash	-147,241,000	105,135,000	58,034,000	-80,608,000	-297,459,000	-84,495,000
cash and restricted cash
cash and restricted cash at beginning of year
cash and restricted cash at end of year
supplemental disclosures of cash flow information
cash paid for interest	14,066,000	10,241,000	4,281,000	7,959,000	4,521,000	3,876,000	2,313,000	1,763,000	478,000	269,000	1,497,000	1,030,000
cash (received) paid for income taxes	324,000	7,000	164,000	-1,153,000
supplemental disclosures of non-cash investing and financing activities
securities retained under consolidated securitization transaction	0
residual certificates retained under unconsolidated securitization
beneficial interest assets included in payable to investors
capitalized stock-based compensation expense	776,000	1,860,000	1,372,000	2,658,000	1,413,000	1,550,000	1,370,000	1,627,000	1,021,000	1,100,000	898,000	122,000
issuance of common stock in connection with acquisition									0	0
gain on loan servicing arrangement		-3,472,000	-3,347,000	-3,613,000	-4,969,000	-6,038,000	-9,027,000	-8,705,000
purchase of loans held-for-sale		-826,388,000	-740,343,000	-510,003,000	-6,347,901,000	-333,763,000	-682,575,000	-443,190,000	-138,823,000	-41,994,000	-20,071,000	-18,240,000
purchase of loans held-for-investment		-37,426,000	-37,486,000	-46,382,000	-94,004,000	-41,418,000			-66,660,000	-50,190,000	-29,601,000	-12,947,000
acquisition of beneficial interests		-13,078,000
purchase of non-marketable equity securities
purchase of property and equipment		-135,000	-39,000	-1,111,000	-1,737,000	-1,510,000	-3,949,000	-1,629,000	-3,471,000	-2,959,000	-1,730,000	-267,000
payments made on securitization notes
cash and restricted cash at beginning of period		0	0	532,467,000		0	0	1,191,241,000		0
cash and restricted cash at end of period		105,135,000	58,034,000	451,859,000		-84,495,000	-98,273,000	1,012,694,000		554,228,000
beneficial interests included in payable to investors		1,641,000
reclassification of loans
net income before attribution to noncontrolling interests									58,944,000	29,113,000	37,284,000	10,102,000
incentive share expense
principal payments received for loans held by consolidated securitizations
purchase of notes receivable and residual certificates
proceeds from initial public offering, net of underwriting discounts and offering costs
payments made on securitization notes and certificates
distributions made to noncontrolling interests
proceeds from exercise of convertible preferred stock warrants
cash paid for income taxes					122,000	154,000	34,000	18,000	53,000	680,000
cash paid for amounts included in the measurement of lease liabilities					3,117,000	3,197,000
reclassification of common stock warrant liability related to cashless exercise
reclassification of preferred stock warrant liability related to cash exercise
reclassification of common stock warrant liability to equity upon termination of repurchase option
purchase of loans for immediate resale						-722,080,000	-1,782,442,000	-3,014,594,000	-2,840,488,000	-2,458,757,000
proceeds from immediate resale of loans						722,080,000	1,782,442,000	3,014,594,000	2,840,488,000	2,458,757,000
purchase of non-marketable equity security						0	0	-1,000,000
net increase in cash and restricted cash								-178,547,000	19,480,000	554,228,000	281,467,000	24,733,000
reclassification of loans held-for-investment to held-for-sale								109,792,000
gain on loan servicing arrangements and sale of noncontrolling interests												67,000
gain on repurchased and retired convertible preferred stock warrants
net proceeds from sale of loans held-for-sale									22,032,000	33,354,000	19,043,000	38,140,000
net proceeds from sale of loans held-for-investment									40,610,000	1,075,000	1,389,000	8,329,000
repayments of notes payable
repurchase and retirement of convertible preferred stock warrants
repurchase and retirement of convertible preferred stock
proceeds from issuance of notes payable
proceeds from issuance of convertible preferred stock, net of issuance costs
derecognition of loans held-for-investment in consolidated vie
derecognition of payable to securitization note holders and residual certificate holders
derecognition of notes payable held in consolidated vie
securities retained under unconsolidated securitization transactions
transfer of notes receivable and residual certificate on deconsolidation of vie
gain on loan servicing arrangements										-2,121,000
noncash interest expense												18,000
proceeds from issuance of convertible debt
supplemental disclosures of non-cash operating activities
total right-of-use assets capitalized
purchase of loans for immediate resale to investors												-1,294,634,000
proceeds from immediate resale of loans to investors												1,294,634,000
beginning of period												311,333,000
end of period												336,066,000
accrued interest on convertible notes
purchase of loans held by consolidated securitizations
proceeds from the issuance of securitization notes and certificates
proceeds from sale of noncontrolling interests
beginning of year
end of year