Upstart Holdings announced a $100 million share repurchase, buying back 3,193,294 shares at an average price of $31.31 per share. The repurchase was completed over the four trading days from February 12 to February 18, 2026, and the announcement was made on February 19, 2026.
The buyback is part of the $400 million share repurchase program that was authorized in February 2022. After the $100 million purchase, $122 million remains available under the program, giving Upstart flexibility to deploy additional capital as it sees fit.
The repurchase follows a period of strong cash generation. In Q4 2025, Upstart returned to profitability with a net profit of $19 million, up from a $2.8 million loss in Q4 2024. Revenue rose 35 % year‑over‑year to $296 million, and loan originations grew 86 % YoY, underscoring the company’s expanding market share in the AI‑powered lending space.
Management’s decision to deploy cash signals confidence in the company’s valuation and future cash‑flow prospects. The repurchase reduces the number of shares outstanding, which can lift earnings per share and support the stock’s intrinsic value. It also demonstrates that Upstart is actively using the capital it has generated rather than holding excess cash.
The share repurchase is the first major announcement under the program in the past year, but it is not a new program. The $400 million program was announced in February 2022, and the $100 million purchase represents a significant execution of that existing plan.
The announcement was well received by investors, reflecting confidence in Upstart’s capital deployment strategy and its strong financial performance.
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