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Side-by-side financial comparison of 8X8 INC (EGHT) 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 $185.1M, roughly 1.6× 8X8 INC). Upstart Holdings, Inc. runs the higher net margin — 6.3% vs 2.8%, a 3.5% gap on every dollar of revenue. On growth, Upstart Holdings, Inc. posted the faster year-over-year revenue change (35.2% vs 3.4%). Upstart Holdings, Inc. produced more free cash flow last quarter ($108.4M vs $19.1M). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (52.2% CAGR vs 1.6%).
8x8, Inc. is an American provider of cloud communications and customer experience software for businesses. The company offers unified communications, contact center, and communications platform as a service (CPaaS) delivered via a cloud-based architecture. 8x8 is headquartered in Campbell, California. Its common stock trades on the Nasdaq under the ticker symbol EGHT, and the company is led by Samuel Wilson.
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.
EGHT vs UPST — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $185.1M | $296.1M |
| Net Profit | $5.1M | $18.6M |
| Gross Margin | 63.9% | — |
| Operating Margin | 5.2% | 6.4% |
| Net Margin | 2.8% | 6.3% |
| Revenue YoY | 3.4% | 35.2% |
| Net Profit YoY | 68.4% | 776.4% |
| EPS (diluted) | $0.04 | $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.
| Q4 25 | $185.1M | $296.1M | ||
| Q3 25 | $184.1M | $277.1M | ||
| Q2 25 | $181.4M | $257.3M | ||
| Q1 25 | $177.0M | $213.4M | ||
| Q4 24 | $178.9M | $219.0M | ||
| Q3 24 | $181.0M | $162.1M | ||
| Q2 24 | $178.1M | $127.6M | ||
| Q1 24 | $179.4M | $127.8M |
| Q4 25 | $5.1M | $18.6M | ||
| Q3 25 | $767.0K | $31.8M | ||
| Q2 25 | $-4.3M | $5.6M | ||
| Q1 25 | $-5.4M | $-2.4M | ||
| Q4 24 | $3.0M | $-2.8M | ||
| Q3 24 | $-14.5M | $-6.8M | ||
| Q2 24 | $-10.3M | $-54.5M | ||
| Q1 24 | $-23.6M | $-64.6M |
| Q4 25 | 63.9% | — | ||
| Q3 25 | 64.8% | — | ||
| Q2 25 | 66.4% | — | ||
| Q1 25 | 67.8% | — | ||
| Q4 24 | 67.7% | — | ||
| Q3 24 | 68.1% | — | ||
| Q2 24 | 67.9% | — | ||
| Q1 24 | 68.2% | — |
| Q4 25 | 5.2% | 6.4% | ||
| Q3 25 | 2.9% | 8.5% | ||
| Q2 25 | 0.3% | 1.8% | ||
| Q1 25 | 0.2% | -2.1% | ||
| Q4 24 | 5.0% | -2.2% | ||
| Q3 24 | 4.0% | -27.8% | ||
| Q2 24 | -0.8% | -43.5% | ||
| Q1 24 | -7.9% | -52.8% |
| Q4 25 | 2.8% | 6.3% | ||
| Q3 25 | 0.4% | 11.5% | ||
| Q2 25 | -2.4% | 2.2% | ||
| Q1 25 | -3.1% | -1.1% | ||
| Q4 24 | 1.7% | -1.3% | ||
| Q3 24 | -8.0% | -4.2% | ||
| Q2 24 | -5.8% | -42.7% | ||
| Q1 24 | -13.1% | -50.5% |
| Q4 25 | $0.04 | $0.20 | ||
| Q3 25 | $0.01 | $0.23 | ||
| Q2 25 | $-0.03 | $0.05 | ||
| Q1 25 | $-0.04 | $-0.03 | ||
| Q4 24 | $0.02 | $-0.01 | ||
| Q3 24 | $-0.11 | $-0.07 | ||
| Q2 24 | $-0.08 | $-0.62 | ||
| Q1 24 | $-0.20 | $-0.74 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $86.9M | $652.4M |
| Total DebtLower is stronger | $321.2M | — |
| Stockholders' EquityBook value | $142.9M | $798.8M |
| Total Assets | $661.5M | $3.0B |
| Debt / EquityLower = less leverage | 2.25× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $86.9M | $652.4M | ||
| Q3 25 | $75.9M | $489.8M | ||
| Q2 25 | $81.3M | $395.9M | ||
| Q1 25 | $88.0M | $599.8M | ||
| Q4 24 | $104.2M | $788.4M | ||
| Q3 24 | $117.4M | — | ||
| Q2 24 | $130.8M | — | ||
| Q1 24 | $117.3M | — |
| Q4 25 | $321.2M | — | ||
| Q3 25 | $325.8M | — | ||
| Q2 25 | $335.4M | — | ||
| Q1 25 | $350.0M | — | ||
| Q4 24 | $364.5M | — | ||
| Q3 24 | $396.9M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $409.7M | — |
| Q4 25 | $142.9M | $798.8M | ||
| Q3 25 | $133.2M | $743.7M | ||
| Q2 25 | $128.2M | $722.0M | ||
| Q1 25 | $122.2M | $676.6M | ||
| Q4 24 | $113.0M | $633.2M | ||
| Q3 24 | $109.8M | $595.5M | ||
| Q2 24 | $104.6M | $594.7M | ||
| Q1 24 | $102.0M | $612.8M |
| Q4 25 | $661.5M | $3.0B | ||
| Q3 25 | $670.8M | $2.9B | ||
| Q2 25 | $684.3M | $2.5B | ||
| Q1 25 | $683.2M | $2.3B | ||
| Q4 24 | $698.2M | $2.4B | ||
| Q3 24 | $740.1M | $1.8B | ||
| Q2 24 | $755.7M | $1.8B | ||
| Q1 24 | $756.0M | $1.9B |
| Q4 25 | 2.25× | — | ||
| Q3 25 | 2.45× | — | ||
| Q2 25 | 2.62× | — | ||
| Q1 25 | 2.86× | — | ||
| Q4 24 | 3.23× | — | ||
| Q3 24 | 3.61× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 4.02× | — |
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 | $20.7M | $108.6M |
| Free Cash FlowOCF − Capex | $19.1M | $108.4M |
| FCF MarginFCF / Revenue | 10.3% | 36.6% |
| Capex IntensityCapex / Revenue | 0.9% | 0.1% |
| Cash ConversionOCF / Net Profit | 4.07× | 5.82× |
| TTM Free Cash FlowTrailing 4 quarters | $43.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | $108.6M | ||
| Q3 25 | $8.8M | $-122.6M | ||
| Q2 25 | $11.9M | $-120.2M | ||
| Q1 25 | $5.9M | $-13.5M | ||
| Q4 24 | $27.2M | $-110.9M | ||
| Q3 24 | $12.3M | $179.3M | ||
| Q2 24 | $18.1M | $65.3M | ||
| Q1 24 | $12.7M | $52.6M |
| Q4 25 | $19.1M | $108.4M | ||
| Q3 25 | $7.7M | $-122.7M | ||
| Q2 25 | $11.5M | $-120.3M | ||
| Q1 25 | $5.5M | — | ||
| Q4 24 | $26.8M | — | ||
| Q3 24 | $11.1M | $179.2M | ||
| Q2 24 | $17.8M | $65.3M | ||
| Q1 24 | $12.3M | $51.9M |
| Q4 25 | 10.3% | 36.6% | ||
| Q3 25 | 4.2% | -44.3% | ||
| Q2 25 | 6.3% | -46.7% | ||
| Q1 25 | 3.1% | — | ||
| Q4 24 | 15.0% | — | ||
| Q3 24 | 6.1% | 110.5% | ||
| Q2 24 | 10.0% | 51.1% | ||
| Q1 24 | 6.9% | 40.6% |
| Q4 25 | 0.9% | 0.1% | ||
| Q3 25 | 0.6% | 0.0% | ||
| Q2 25 | 0.2% | 0.0% | ||
| Q1 25 | 0.2% | 0.0% | ||
| Q4 24 | 0.3% | 0.0% | ||
| Q3 24 | 0.7% | 0.1% | ||
| Q2 24 | 0.2% | 0.0% | ||
| Q1 24 | 0.2% | 0.5% |
| Q4 25 | 4.07× | 5.82× | ||
| Q3 25 | 11.52× | -3.86× | ||
| Q2 25 | — | -21.43× | ||
| Q1 25 | — | — | ||
| Q4 24 | 9.01× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EGHT
| Services | $179.7M | 97% |
| Other | $5.4M | 3% |
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% |
