vs
Side-by-side financial comparison of Guardant Health, Inc. (GH) 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 $281.3M, roughly 1.1× Guardant Health, Inc.). Upstart Holdings, Inc. runs the higher net margin — 6.3% vs -45.7%, a 52.0% gap on every dollar of revenue. On growth, Guardant Health, Inc. posted the faster year-over-year revenue change (39.4% vs 35.2%). Upstart Holdings, Inc. produced more free cash flow last quarter ($108.4M vs $-54.2M). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (52.2% CAGR vs 29.2%).
Guardant Health, Inc. is an American biotechnology company based in Palo Alto, California. Co-founders Helmy Eltoukhy and AmirAli Talasaz serve as co-chief executive officers.
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.
GH vs UPST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $281.3M | $296.1M |
| Net Profit | $-128.5M | $18.6M |
| Gross Margin | 64.6% | — |
| Operating Margin | -43.0% | 6.4% |
| Net Margin | -45.7% | 6.3% |
| Revenue YoY | 39.4% | 35.2% |
| Net Profit YoY | -15.8% | 776.4% |
| EPS (diluted) | $-1.01 | $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 | $281.3M | $296.1M | ||
| Q3 25 | $265.2M | $277.1M | ||
| Q2 25 | $232.1M | $257.3M | ||
| Q1 25 | $203.5M | $213.4M | ||
| Q4 24 | $201.8M | $219.0M | ||
| Q3 24 | $191.5M | $162.1M | ||
| Q2 24 | $177.2M | $127.6M | ||
| Q1 24 | $168.5M | $127.8M |
| Q4 25 | $-128.5M | $18.6M | ||
| Q3 25 | $-92.7M | $31.8M | ||
| Q2 25 | $-99.9M | $5.6M | ||
| Q1 25 | $-95.2M | $-2.4M | ||
| Q4 24 | $-111.0M | $-2.8M | ||
| Q3 24 | $-107.8M | $-6.8M | ||
| Q2 24 | $-102.6M | $-54.5M | ||
| Q1 24 | $-115.0M | $-64.6M |
| Q4 25 | 64.6% | — | ||
| Q3 25 | 64.7% | — | ||
| Q2 25 | 65.0% | — | ||
| Q1 25 | 63.3% | — | ||
| Q4 24 | 61.6% | — | ||
| Q3 24 | 61.1% | — | ||
| Q2 24 | 59.1% | — | ||
| Q1 24 | 61.2% | — |
| Q4 25 | -43.0% | 6.4% | ||
| Q3 25 | -37.3% | 8.5% | ||
| Q2 25 | -45.9% | 1.8% | ||
| Q1 25 | -54.6% | -2.1% | ||
| Q4 24 | -62.4% | -2.2% | ||
| Q3 24 | -61.3% | -27.8% | ||
| Q2 24 | -56.8% | -43.5% | ||
| Q1 24 | -59.2% | -52.8% |
| Q4 25 | -45.7% | 6.3% | ||
| Q3 25 | -35.0% | 11.5% | ||
| Q2 25 | -43.0% | 2.2% | ||
| Q1 25 | -46.8% | -1.1% | ||
| Q4 24 | -55.0% | -1.3% | ||
| Q3 24 | -56.3% | -4.2% | ||
| Q2 24 | -57.9% | -42.7% | ||
| Q1 24 | -68.2% | -50.5% |
| Q4 25 | $-1.01 | $0.20 | ||
| Q3 25 | $-0.74 | $0.23 | ||
| Q2 25 | $-0.80 | $0.05 | ||
| Q1 25 | $-0.77 | $-0.03 | ||
| Q4 24 | $-0.90 | $-0.01 | ||
| Q3 24 | $-0.88 | $-0.07 | ||
| Q2 24 | $-0.84 | $-0.62 | ||
| Q1 24 | $-0.94 | $-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 | $378.2M | $652.4M |
| Total DebtLower is stronger | $1.5B | — |
| Stockholders' EquityBook value | $-99.3M | $798.8M |
| Total Assets | $2.0B | $3.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $378.2M | $652.4M | ||
| Q3 25 | $580.0M | $489.8M | ||
| Q2 25 | $629.1M | $395.9M | ||
| Q1 25 | $698.6M | $599.8M | ||
| Q4 24 | $525.5M | $788.4M | ||
| Q3 24 | $585.0M | — | ||
| Q2 24 | $933.7M | — | ||
| Q1 24 | $1.0B | — |
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-99.3M | $798.8M | ||
| Q3 25 | $-354.5M | $743.7M | ||
| Q2 25 | $-305.5M | $722.0M | ||
| Q1 25 | $-250.8M | $676.6M | ||
| Q4 24 | $-139.6M | $633.2M | ||
| Q3 24 | $-60.1M | $595.5M | ||
| Q2 24 | $-1.6M | $594.7M | ||
| Q1 24 | $68.3M | $612.8M |
| Q4 25 | $2.0B | $3.0B | ||
| Q3 25 | $1.3B | $2.9B | ||
| Q2 25 | $1.3B | $2.5B | ||
| Q1 25 | $1.3B | $2.3B | ||
| Q4 24 | $1.5B | $2.4B | ||
| Q3 24 | $1.5B | $1.8B | ||
| Q2 24 | $1.6B | $1.8B | ||
| Q1 24 | $1.7B | $1.9B |
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 | $-26.4M | $108.6M |
| Free Cash FlowOCF − Capex | $-54.2M | $108.4M |
| FCF MarginFCF / Revenue | -19.3% | 36.6% |
| Capex IntensityCapex / Revenue | 9.9% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 5.82× |
| TTM Free Cash FlowTrailing 4 quarters | $-233.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-26.4M | $108.6M | ||
| Q3 25 | $-35.4M | $-122.6M | ||
| Q2 25 | $-60.3M | $-120.2M | ||
| Q1 25 | $-62.7M | $-13.5M | ||
| Q4 24 | $-64.5M | $-110.9M | ||
| Q3 24 | $-51.1M | $179.3M | ||
| Q2 24 | $-94.0M | $65.3M | ||
| Q1 24 | $-30.3M | $52.6M |
| Q4 25 | $-54.2M | $108.4M | ||
| Q3 25 | $-45.8M | $-122.7M | ||
| Q2 25 | $-65.9M | $-120.3M | ||
| Q1 25 | $-67.1M | — | ||
| Q4 24 | $-83.4M | — | ||
| Q3 24 | $-55.3M | $179.2M | ||
| Q2 24 | $-99.1M | $65.3M | ||
| Q1 24 | $-37.2M | $51.9M |
| Q4 25 | -19.3% | 36.6% | ||
| Q3 25 | -17.3% | -44.3% | ||
| Q2 25 | -28.4% | -46.7% | ||
| Q1 25 | -33.0% | — | ||
| Q4 24 | -41.3% | — | ||
| Q3 24 | -28.9% | 110.5% | ||
| Q2 24 | -55.9% | 51.1% | ||
| Q1 24 | -22.1% | 40.6% |
| Q4 25 | 9.9% | 0.1% | ||
| Q3 25 | 3.9% | 0.0% | ||
| Q2 25 | 2.4% | 0.0% | ||
| Q1 25 | 2.2% | 0.0% | ||
| Q4 24 | 9.4% | 0.0% | ||
| Q3 24 | 2.2% | 0.1% | ||
| Q2 24 | 2.9% | 0.0% | ||
| Q1 24 | 4.1% | 0.5% |
| Q4 25 | — | 5.82× | ||
| Q3 25 | — | -3.86× | ||
| Q2 25 | — | -21.43× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GH
| Oncology | $189.9M | 68% |
| Biopharma Data | $54.0M | 19% |
| Screening | $35.1M | 12% |
| Licensing Other | $2.2M | 1% |
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% |
