diff --git a/.changepacks/changepack_log_resolver_reference_index.json b/.changepacks/changepack_log_resolver_reference_index.json
new file mode 100644
index 000000000..d9343a00e
--- /dev/null
+++ b/.changepacks/changepack_log_resolver_reference_index.json
@@ -0,0 +1,8 @@
+{
+  "changes": {
+    "bindings/devup-ui-wasm/package.json": "Patch",
+    "bindings/devup-ui-binding/package.json": "Patch"
+  },
+  "note": "Resolving the imports of a file parses it once to find where it references each module, instead of once per import resolved. A component with ten imports was parsed again ten times during extraction just to locate possible resolver errors; diagnostics are unchanged",
+  "date": "2026-11-15T00:00:00.000Z"
+}
diff --git a/libs/binding/src/resolver_state.rs b/libs/binding/src/resolver_state.rs
index 31d1b6092..a82a4a482 100644
--- a/libs/binding/src/resolver_state.rs
+++ b/libs/binding/src/resolver_state.rs
@@ -1,7 +1,8 @@
+use std::cell::OnceCell;
 use std::collections::{BTreeSet, HashMap};
 
 use extractor::ResolvedModule;
-use extractor::module_reference::{ModuleReferenceLocation, original_module_reference_locations};
+use extractor::module_reference::{ModuleReferenceLocation, original_module_references};
 
 #[derive(Clone, PartialEq, Eq, PartialOrd, Ord)]
 struct OriginSite {
@@ -18,6 +19,18 @@ struct OriginSites {
 struct ModuleSource {
     code: String,
     ingress: Option<OriginSites>,
+    /// Where the code references each module, found on the first request
+    references: OnceCell<HashMap<String, Vec<ModuleReferenceLocation>>>,
+}
+
+impl ModuleSource {
+    fn new(code: &str, ingress: Option<OriginSites>) -> Self {
+        Self {
+            code: code.to_string(),
+            ingress,
+            references: OnceCell::new(),
+        }
+    }
 }
 
 /// A callback request with at least one original reference site.
@@ -55,13 +68,7 @@ pub struct ResolverState {
 impl ResolverState {
     pub fn new(filename: &str, source: &str) -> Self {
         Self {
-            sources: HashMap::from([(
-                filename.to_string(),
-                ModuleSource {
-                    code: source.to_string(),
-                    ingress: None,
-                },
-            )]),
+            sources: HashMap::from([(filename.to_string(), ModuleSource::new(source, None))]),
             failures: BTreeSet::new(),
         }
     }
@@ -69,30 +76,26 @@ impl ResolverState {
     pub fn cache(&mut self, module: &ResolvedModule, request: &ResolverRequest) {
         self.sources.insert(
             module.path.clone(),
-            ModuleSource {
-                code: module.code.clone(),
-                ingress: Some(request.origins.clone()),
-            },
+            ModuleSource::new(&module.code, Some(request.origins.clone())),
         );
     }
 
     pub fn add_source(&mut self, filename: &str, code: &str) {
-        self.sources.insert(
-            filename.to_string(),
-            ModuleSource {
-                code: code.to_string(),
-                ingress: None,
-            },
-        );
+        self.sources
+            .insert(filename.to_string(), ModuleSource::new(code, None));
     }
 
     /// Bind original references before calling JS; recursive exploratory reads
     /// without a semantic reference retain the real import that loaded the module.
     pub fn request(&self, specifier: &str, importer: &str) -> Option<ResolverRequest> {
         let source = self.sources.get(importer)?;
-        let mut sites = original_module_reference_locations(importer, &source.code, specifier)
+        let mut sites = source
+            .references
+            .get_or_init(|| original_module_references(importer, &source.code))
+            .get(specifier)
             .into_iter()
-            .map(|location| OriginSite {
+            .flatten()
+            .map(|&location| OriginSite {
                 filename: importer.to_string(),
                 location,
             });
diff --git a/libs/extractor/src/module_reference.rs b/libs/extractor/src/module_reference.rs
index ec9100b59..170dbfb0b 100644
--- a/libs/extractor/src/module_reference.rs
+++ b/libs/extractor/src/module_reference.rs
@@ -1,3 +1,5 @@
+use std::collections::HashMap;
+
 use oxc_allocator::Allocator;
 use oxc_ast::{
     AstKind,
@@ -24,6 +26,18 @@ pub fn original_module_reference_locations(
     source: &str,
     specifier: &str,
 ) -> Vec<ModuleReferenceLocation> {
+    original_module_references(filename, source)
+        .remove(specifier)
+        .unwrap_or_default()
+}
+
+/// The locations of every module the source references, by specifier, from one
+/// parse: what `original_module_reference_locations` finds for each of them.
+#[must_use]
+pub fn original_module_references(
+    filename: &str,
+    source: &str,
+) -> HashMap<String, Vec<ModuleReferenceLocation>> {
     let allocator = Allocator::default();
     let source_type = SourceType::from_path(filename).unwrap_or_else(|_| SourceType::ts());
     let parsed = Parser::new(&allocator, source, source_type).parse();
@@ -36,10 +50,13 @@ pub fn original_module_reference_locations(
             Statement::ExportAllDeclaration(export) => Some(&export.source),
             _ => None,
         };
-        if let Some(literal) = literal
-            && literal.value == specifier
-        {
-            offsets.push(literal.span.start);
+        if let Some(literal) = literal {
+            offsets.extend(
+                literal
+                    .value
+                    .as_str()
+                    .map(|value| (literal.span.start, value)),
+            );
         }
     }
     let semantic = SemanticBuilder::new()
@@ -55,39 +72,49 @@ pub fn original_module_reference_locations(
             let node = semantic.scoping().get_reference(*reference).node_id();
             if let AstKind::CallExpression(call) = semantic.nodes().parent_kind(node)
                 && let [Argument::StringLiteral(literal)] = call.arguments.as_slice()
-                && literal.value == specifier
             {
-                offsets.push(literal.span.start);
+                offsets.extend(
+                    literal
+                        .value
+                        .as_str()
+                        .map(|value| (literal.span.start, value)),
+                );
             }
         }
     }
     offsets.sort_unstable();
     offsets.dedup();
-    offsets
-        .into_iter()
-        .filter_map(|offset| {
-            let prefix = source.get(..usize::try_from(offset).ok()?)?;
-            let mut location = ModuleReferenceLocation { line: 1, column: 1 };
-            let mut chars = prefix.chars().peekable();
-            while let Some(character) = chars.next() {
-                match character {
-                    '\r' => {
-                        if chars.peek() == Some(&'\n') {
-                            chars.next();
-                        }
-                        location.line += 1;
-                        location.column = 1;
-                    }
-                    '\n' | '\u{2028}' | '\u{2029}' => {
-                        location.line += 1;
-                        location.column = 1;
+    let mut references = HashMap::<String, Vec<ModuleReferenceLocation>>::new();
+    let mut location = ModuleReferenceLocation { line: 1, column: 1 };
+    let mut chars = source.char_indices().peekable();
+    for (offset, specifier) in offsets {
+        let offset = usize::try_from(offset).unwrap_or(usize::MAX);
+        while let Some(&(index, character)) = chars.peek() {
+            if index >= offset {
+                break;
+            }
+            chars.next();
+            match character {
+                '\r' => {
+                    if chars.peek().is_some_and(|&(_, next)| next == '\n') {
+                        chars.next();
                     }
-                    _ => location.column += 1,
+                    location.line += 1;
+                    location.column = 1;
+                }
+                '\n' | '\u{2028}' | '\u{2029}' => {
+                    location.line += 1;
+                    location.column = 1;
                 }
+                _ => location.column += 1,
             }
-            Some(location)
-        })
-        .collect()
+        }
+        references
+            .entry(specifier.to_string())
+            .or_default()
+            .push(location);
+    }
+    references
 }
 
 #[cfg(test)]
diff --git a/libs/extractor/src/module_reference_tests.rs b/libs/extractor/src/module_reference_tests.rs
index d1d5fdcdb..8ab98675a 100644
--- a/libs/extractor/src/module_reference_tests.rs
+++ b/libs/extractor/src/module_reference_tests.rs
@@ -109,3 +109,33 @@ fn locations_when_duplicate_specifiers_and_unicode_are_present() {
         ]
     );
 }
+
+#[test]
+fn references_index_every_specifier_from_one_parse() {
+    // Given
+    let source = "import { a } from './a';\nconst b = require('./b');\nexport * from './a';";
+    // When
+    let references = original_module_references("theme.ts", source);
+    // Then
+    assert_eq!(references.len(), 2);
+    assert_eq!(
+        references["./a"],
+        vec![
+            ModuleReferenceLocation {
+                line: 1,
+                column: 19
+            },
+            ModuleReferenceLocation {
+                line: 3,
+                column: 15
+            },
+        ]
+    );
+    assert_eq!(
+        references["./b"],
+        vec![ModuleReferenceLocation {
+            line: 2,
+            column: 19
+        }]
+    );
+}