July 8, 2026 UMI: 1.49
BURLINGAME, Calif., July 08, 2026--(BUSINESS WIRE)--Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced changes to how and when it publishes its Upstart Macro Index (UMI), along with the latest UMI reading. These changes are intended to make the index easier to interpret. There is no change to how UMI is calculated or used by Upstart.1
How UMI naming and reporting is changing
Until today, Upstart introduced one new UMI reading each month, named for the month of loan payments it described. For example, the "May UMI," published on June 25, 2026, reflected the likelihood that Upstart-powered personal loan payments due in May 2026 would eventually be repaid. Upstart then updated that monthly UMI value, along with the full historical series, each subsequent week as additional payment data came in.
Going forward, Upstart will still introduce one new UMI reading each month, but with a new naming convention and on a slightly modified timeline. Once published, a reading won't be updated, except to fix an error or to reflect a major upgrade to the UMI model.
Key updates include:
Naming convention: Each new UMI reading will now be named based on the date it is published, rather than for the month of loan payments it describes. Like before, the initial reading reflects Upstart's best estimate of macro-driven default risk based on all of the payment data available shortly before the UMI's publication date. However, we will no longer subsequently update that reading with payment data that comes after the UMI's named date.
The new naming convention makes clear how recent the underlying data is, and roughly when that risk level starts factoring into Upstart's underwriting. For example, today's release – the "July 8, 2026 UMI" – reflects payment data through July 2, 2026, and is approximately when that risk level became relevant to Upstart's underwriting decisions.
Publication timeline: Upstart will begin publishing its latest UMI reading together with its monthly origination metrics. This will typically occur before the stock market opens on the third calendar day after each origination month ends; if that date falls on a weekend or federal holiday, Upstart intends to publish pre-market on the following business day.
Historical data: Upstart has revised its historical UMI data series to match the new naming convention as closely as possible, so it remains useful for comparing macroeconomic risk over time.2