As of Q4'25, UPST reported an operating income of $18.9M, marking a significant improvement from previous quarters. The year-over-year growth rate for this period reached 498.29%, highlighting a strong turnaround in operational performance. From Q1'23 to Q4'25, UPST's operating income showed a notable recovery, moving from a loss of $132M in Q1'23 to positive territory by Q2'25. The trend reveals consistent narrowing of losses throughout 2023 and 2024, followed by a return to profitability in 2025. This positive shift is further underscored by accelerating YoY growth rates, particularly in the latter half of 2025, indicating robust operational momentum and a successful reversal from sustained losses to profitability over the observed period.