Upstart changes UMI reporting format, index rises to 1.49

Upstart Holdings, Inc. (NASDAQ: UPST) announced changes to how it publishes its Upstart Macro Index (UMI), along with a new reading of 1.49, according to a press release dated July 8, 2026.

The UMI reading of 1.49 represents a 2% increase from 1.46 recorded on June 3, 2026. The company states this level is approximately 49% above what its models would expect under normal economic conditions, represented by a UMI of 1.0. The index has remained above 1.0 since February 2022 and remains below its peak of 1.68, reached in January 2024.

Under the updated reporting format, each new UMI reading will be named based on its publication date rather than the month of loan payments it describes. Previously, Upstart published a monthly reading named for the payment month it covered and updated that reading weekly as new payment data became available. Going forward, a reading will not be updated after publication, except to correct errors or reflect a major model upgrade.

Upstart also announced it will publish UMI readings alongside its monthly origination metrics, typically before market open on the third calendar day after each origination month ends. If that date falls on a weekend or federal holiday, publication will occur pre-market on the following business day.

The company states the calculation method and use of UMI in its underwriting process remain unchanged. Historical UMI data has been revised to align with the new naming convention.

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