3 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $3M | -$143M | 0.0% | -5618.8% | -$133M | — | $102M |
| 2024 | $2M | -$63M | 0.0% | -3281.2% | -$60M | — | $326M |
| 2023 | $2M | -$21M | 0.0% | -1685.5% | -$38M | — | $26M |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $1M | -$41M | 0.0% | -4218.1% | — | — | $97M |
| Dec '25 | $668000 | -$42M | 0.0% | -6911.2% | -$31M | — | $102M |
| Sep '25 | $683000 | -$34M | 0.0% | -5539.4% | -$22M | — | $72M |
| Jun '25 | $937000 | -$40M | 0.0% | -4732.9% | — | — | $45M |
| Mar '25 | $566000 | -$27M | 0.0% | -5656.0% | — | — | $71M |
| Dec '24 | $613000 | -$21M | 0.0% | -4293.3% | -$20M | — | $326M |
| Sep '24 | $607000 | -$16M | 0.0% | -3112.5% | — | — | $33M |
| Jun '24 | $510000 | -$15M | 0.0% | -3439.2% | — | — | $47M |
| Mar '24 | $640000 | -$11M | 0.0% | -2345.8% | — | — | $32M |
| Dec '23 | $450000 | -$12M | 0.0% | -3184.4% | -$16M | — | $26M |
| Sep '23 | $621000 | -$3M | 0.0% | -1511.4% | — | — | $47M |
| Jun '23 | — | -$3M | — | — | — | — | — |
| Mar '23 | — | -$3M | — | — | — | — | — |
How the market has priced UPB against its own fundamentals since 2024-10 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 2 years, Upstream Bio, Inc.'s revenue has grown 9.5% per year. These are computed facts, not advice.
As of FY2025, Upstream Bio, Inc. reported — of total debt against $102M of cash.
In FY2025, gross margin was —, operating margin -5618.8%, and net margin -5026.0%.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.