vs
Side-by-side financial comparison of Vita Coco Company, Inc. (COCO) and Upstart Holdings, Inc. (UPST). Click either name above to swap in a different company.
Upstart Holdings, Inc. is the larger business by last-quarter revenue ($296.1M vs $179.8M, roughly 1.6× Vita Coco Company, Inc.). Vita Coco Company, Inc. runs the higher net margin — 17.0% vs 6.3%, a 10.7% gap on every dollar of revenue. On growth, Vita Coco Company, Inc. posted the faster year-over-year revenue change (37.3% vs 35.2%). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (52.2% CAGR vs 11.7%).
The Vita Coco Company, doing business simply as Vita Coco, is an American beverage company which mainly sells coconut water. The largest brand globally in coconut/plant waters, Vita Coco has operations in 31 countries as of 2016. It is a benefit corporation. The company is owned by All Market Inc.
Upstart is an AI lending platform that partners with banks and credit unions to provide consumer loans using non-traditional variables, such as education and employment, to predict creditworthiness.
COCO vs UPST — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $179.8M | $296.1M |
| Net Profit | $30.5M | $18.6M |
| Gross Margin | 39.9% | — |
| Operating Margin | 18.7% | 6.4% |
| Net Margin | 17.0% | 6.3% |
| Revenue YoY | 37.3% | 35.2% |
| Net Profit YoY | 61.4% | 776.4% |
| EPS (diluted) | $0.50 | $0.20 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $179.8M | — | ||
| Q4 25 | $127.8M | $296.1M | ||
| Q3 25 | $182.3M | $277.1M | ||
| Q2 25 | $168.8M | $257.3M | ||
| Q1 25 | $130.9M | $213.4M | ||
| Q4 24 | $127.3M | $219.0M | ||
| Q3 24 | $132.9M | $162.1M | ||
| Q2 24 | $144.1M | $127.6M |
| Q1 26 | $30.5M | — | ||
| Q4 25 | $5.5M | $18.6M | ||
| Q3 25 | $24.0M | $31.8M | ||
| Q2 25 | $22.9M | $5.6M | ||
| Q1 25 | $18.9M | $-2.4M | ||
| Q4 24 | $3.4M | $-2.8M | ||
| Q3 24 | $19.3M | $-6.8M | ||
| Q2 24 | $19.1M | $-54.5M |
| Q1 26 | 39.9% | — | ||
| Q4 25 | 34.9% | — | ||
| Q3 25 | 37.7% | — | ||
| Q2 25 | 36.3% | — | ||
| Q1 25 | 36.7% | — | ||
| Q4 24 | 32.5% | — | ||
| Q3 24 | 38.8% | — | ||
| Q2 24 | 40.8% | — |
| Q1 26 | 18.7% | — | ||
| Q4 25 | 8.0% | 6.4% | ||
| Q3 25 | 15.3% | 8.5% | ||
| Q2 25 | 14.9% | 1.8% | ||
| Q1 25 | 14.7% | -2.1% | ||
| Q4 24 | 3.4% | -2.2% | ||
| Q3 24 | 15.5% | -27.8% | ||
| Q2 24 | 20.8% | -43.5% |
| Q1 26 | 17.0% | — | ||
| Q4 25 | 4.3% | 6.3% | ||
| Q3 25 | 13.2% | 11.5% | ||
| Q2 25 | 13.6% | 2.2% | ||
| Q1 25 | 14.4% | -1.1% | ||
| Q4 24 | 2.6% | -1.3% | ||
| Q3 24 | 14.5% | -4.2% | ||
| Q2 24 | 13.2% | -42.7% |
| Q1 26 | $0.50 | — | ||
| Q4 25 | $0.10 | $0.20 | ||
| Q3 25 | $0.40 | $0.23 | ||
| Q2 25 | $0.38 | $0.05 | ||
| Q1 25 | $0.31 | $-0.03 | ||
| Q4 24 | $0.06 | $-0.01 | ||
| Q3 24 | $0.32 | $-0.07 | ||
| Q2 24 | $0.32 | $-0.62 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $201.9M | $652.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $352.2M | $798.8M |
| Total Assets | $488.3M | $3.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $201.9M | — | ||
| Q4 25 | $196.9M | $652.4M | ||
| Q3 25 | $203.7M | $489.8M | ||
| Q2 25 | $167.0M | $395.9M | ||
| Q1 25 | $153.6M | $599.8M | ||
| Q4 24 | $164.7M | $788.4M | ||
| Q3 24 | $156.7M | — | ||
| Q2 24 | $150.1M | — |
| Q1 26 | $352.2M | — | ||
| Q4 25 | $331.5M | $798.8M | ||
| Q3 25 | $323.7M | $743.7M | ||
| Q2 25 | $296.9M | $722.0M | ||
| Q1 25 | $277.9M | $676.6M | ||
| Q4 24 | $258.8M | $633.2M | ||
| Q3 24 | $252.1M | $595.5M | ||
| Q2 24 | $232.0M | $594.7M |
| Q1 26 | $488.3M | — | ||
| Q4 25 | $461.2M | $3.0B | ||
| Q3 25 | $461.3M | $2.9B | ||
| Q2 25 | $421.1M | $2.5B | ||
| Q1 25 | $384.0M | $2.3B | ||
| Q4 24 | $362.4M | $2.4B | ||
| Q3 24 | $353.1M | $1.8B | ||
| Q2 24 | $323.0M | $1.8B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $108.6M |
| Free Cash FlowOCF − Capex | — | $108.4M |
| FCF MarginFCF / Revenue | — | 36.6% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | — | 5.82× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-3.9M | $108.6M | ||
| Q3 25 | $39.1M | $-122.6M | ||
| Q2 25 | $21.8M | $-120.2M | ||
| Q1 25 | $-9.8M | $-13.5M | ||
| Q4 24 | $6.9M | $-110.9M | ||
| Q3 24 | $9.3M | $179.3M | ||
| Q2 24 | $26.9M | $65.3M |
| Q1 26 | — | — | ||
| Q4 25 | $-7.1M | $108.4M | ||
| Q3 25 | $35.6M | $-122.7M | ||
| Q2 25 | $20.9M | $-120.3M | ||
| Q1 25 | $-10.4M | — | ||
| Q4 24 | $6.8M | — | ||
| Q3 24 | $8.9M | $179.2M | ||
| Q2 24 | $26.6M | $65.3M |
| Q1 26 | — | — | ||
| Q4 25 | -5.6% | 36.6% | ||
| Q3 25 | 19.6% | -44.3% | ||
| Q2 25 | 12.4% | -46.7% | ||
| Q1 25 | -7.9% | — | ||
| Q4 24 | 5.3% | — | ||
| Q3 24 | 6.7% | 110.5% | ||
| Q2 24 | 18.5% | 51.1% |
| Q1 26 | — | — | ||
| Q4 25 | 2.5% | 0.1% | ||
| Q3 25 | 1.9% | 0.0% | ||
| Q2 25 | 0.6% | 0.0% | ||
| Q1 25 | 0.4% | 0.0% | ||
| Q4 24 | 0.1% | 0.0% | ||
| Q3 24 | 0.3% | 0.1% | ||
| Q2 24 | 0.2% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | -0.70× | 5.82× | ||
| Q3 25 | 1.63× | -3.86× | ||
| Q2 25 | 0.95× | -21.43× | ||
| Q1 25 | -0.52× | — | ||
| Q4 24 | 2.05× | — | ||
| Q3 24 | 0.48× | — | ||
| Q2 24 | 1.41× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
COCO
| Subtotal | $148.2M | 82% |
| Private Label | $24.4M | 14% |
| Other | $7.2M | 4% |
UPST
| Personal Lending Segment | $201.4M | 68% |
| Servicing Fees Net | $39.5M | 13% |
| Servicing Fees | $27.5M | 9% |
| Other | $15.7M | 5% |
| Borrower Fees | $8.4M | 3% |
| Collection Agency Fees | $3.5M | 1% |
