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Side-by-side financial comparison of Lovesac Co (LOVE) 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 $150.2M, roughly 2.0× Lovesac Co). Upstart Holdings, Inc. runs the higher net margin — 6.3% vs -7.0%, a 13.3% gap on every dollar of revenue. On growth, Upstart Holdings, Inc. posted the faster year-over-year revenue change (35.2% vs 0.2%). Upstart Holdings, Inc. produced more free cash flow last quarter ($108.4M vs $-10.2M). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (52.2% CAGR vs -22.6%).
The Lovesac Company is an American furniture retailer, specializing in a patented modular furniture system called Sactionals. Sactionals consist of two combinable pieces, “Seats” and “Sides,” as well as custom-fit covers and associated accessories. Lovesac also sells Sacs, a bag seat filled with a proprietary foam mixture.
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.
LOVE vs UPST — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $150.2M | $296.1M |
| Net Profit | $-10.6M | $18.6M |
| Gross Margin | 56.1% | — |
| Operating Margin | -10.5% | 6.4% |
| Net Margin | -7.0% | 6.3% |
| Revenue YoY | 0.2% | 35.2% |
| Net Profit YoY | -114.0% | 776.4% |
| EPS (diluted) | $-0.72 | $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 | $150.2M | $296.1M | ||
| Q3 25 | $160.5M | $277.1M | ||
| Q2 25 | $138.4M | $257.3M | ||
| Q1 25 | $241.5M | $213.4M | ||
| Q4 24 | $149.9M | $219.0M | ||
| Q3 24 | $156.6M | $162.1M | ||
| Q2 24 | $132.6M | $127.6M | ||
| Q1 24 | $250.5M | $127.8M |
| Q4 25 | $-10.6M | $18.6M | ||
| Q3 25 | $-6.7M | $31.8M | ||
| Q2 25 | $-10.8M | $5.6M | ||
| Q1 25 | $35.3M | $-2.4M | ||
| Q4 24 | $-4.9M | $-2.8M | ||
| Q3 24 | $-5.9M | $-6.8M | ||
| Q2 24 | $-13.0M | $-54.5M | ||
| Q1 24 | $31.0M | $-64.6M |
| Q4 25 | 56.1% | — | ||
| Q3 25 | 56.4% | — | ||
| Q2 25 | 53.7% | — | ||
| Q1 25 | 60.4% | — | ||
| Q4 24 | 58.5% | — | ||
| Q3 24 | 59.0% | — | ||
| Q2 24 | 54.3% | — | ||
| Q1 24 | 59.7% | — |
| Q4 25 | -10.5% | 6.4% | ||
| Q3 25 | -5.5% | 8.5% | ||
| Q2 25 | -10.8% | 1.8% | ||
| Q1 25 | 19.7% | -2.1% | ||
| Q4 24 | -5.2% | -2.2% | ||
| Q3 24 | -5.3% | -27.8% | ||
| Q2 24 | -13.5% | -43.5% | ||
| Q1 24 | 16.1% | -52.8% |
| Q4 25 | -7.0% | 6.3% | ||
| Q3 25 | -4.1% | 11.5% | ||
| Q2 25 | -7.8% | 2.2% | ||
| Q1 25 | 14.6% | -1.1% | ||
| Q4 24 | -3.3% | -1.3% | ||
| Q3 24 | -3.7% | -4.2% | ||
| Q2 24 | -9.8% | -42.7% | ||
| Q1 24 | 12.4% | -50.5% |
| Q4 25 | $-0.72 | $0.20 | ||
| Q3 25 | $-0.45 | $0.23 | ||
| Q2 25 | $-0.73 | $0.05 | ||
| Q1 25 | $2.22 | $-0.03 | ||
| Q4 24 | $-0.32 | $-0.01 | ||
| Q3 24 | $-0.38 | $-0.07 | ||
| Q2 24 | $-0.83 | $-0.62 | ||
| Q1 24 | $1.91 | $-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 | $23.7M | $652.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $189.3M | $798.8M |
| Total Assets | $495.5M | $3.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.7M | $652.4M | ||
| Q3 25 | $34.2M | $489.8M | ||
| Q2 25 | $26.9M | $395.9M | ||
| Q1 25 | $83.7M | $599.8M | ||
| Q4 24 | $61.7M | $788.4M | ||
| Q3 24 | $72.1M | — | ||
| Q2 24 | $72.4M | — | ||
| Q1 24 | $87.0M | — |
| Q4 25 | $189.3M | $798.8M | ||
| Q3 25 | $197.5M | $743.7M | ||
| Q2 25 | $201.2M | $722.0M | ||
| Q1 25 | $216.4M | $676.6M | ||
| Q4 24 | $196.5M | $633.2M | ||
| Q3 24 | $202.1M | $595.5M | ||
| Q2 24 | $205.3M | $594.7M | ||
| Q1 24 | $217.5M | $612.8M |
| Q4 25 | $495.5M | $3.0B | ||
| Q3 25 | $493.7M | $2.9B | ||
| Q2 25 | $483.7M | $2.5B | ||
| Q1 25 | $532.3M | $2.3B | ||
| Q4 24 | $499.7M | $2.4B | ||
| Q3 24 | $481.1M | $1.8B | ||
| Q2 24 | $477.2M | $1.8B | ||
| Q1 24 | $482.2M | $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 | $-4.9M | $108.6M |
| Free Cash FlowOCF − Capex | $-10.2M | $108.4M |
| FCF MarginFCF / Revenue | -6.8% | 36.6% |
| Capex IntensityCapex / Revenue | 3.5% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 5.82× |
| TTM Free Cash FlowTrailing 4 quarters | $-13.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-4.9M | $108.6M | ||
| Q3 25 | $12.2M | $-122.6M | ||
| Q2 25 | $-41.4M | $-120.2M | ||
| Q1 25 | $44.0M | $-13.5M | ||
| Q4 24 | $-4.2M | $-110.9M | ||
| Q3 24 | $6.2M | $179.3M | ||
| Q2 24 | $-7.0M | $65.3M | ||
| Q1 24 | $56.3M | $52.6M |
| Q4 25 | $-10.2M | $108.4M | ||
| Q3 25 | $7.8M | $-122.7M | ||
| Q2 25 | $-50.0M | $-120.3M | ||
| Q1 25 | $38.7M | — | ||
| Q4 24 | $-6.6M | — | ||
| Q3 24 | $119.0K | $179.2M | ||
| Q2 24 | $-14.3M | $65.3M | ||
| Q1 24 | $49.5M | $51.9M |
| Q4 25 | -6.8% | 36.6% | ||
| Q3 25 | 4.9% | -44.3% | ||
| Q2 25 | -36.1% | -46.7% | ||
| Q1 25 | 16.0% | — | ||
| Q4 24 | -4.4% | — | ||
| Q3 24 | 0.1% | 110.5% | ||
| Q2 24 | -10.8% | 51.1% | ||
| Q1 24 | 19.8% | 40.6% |
| Q4 25 | 3.5% | 0.1% | ||
| Q3 25 | 2.7% | 0.0% | ||
| Q2 25 | 6.2% | 0.0% | ||
| Q1 25 | 2.2% | 0.0% | ||
| Q4 24 | 1.6% | 0.0% | ||
| Q3 24 | 3.9% | 0.1% | ||
| Q2 24 | 5.5% | 0.0% | ||
| Q1 24 | 2.7% | 0.5% |
| Q4 25 | — | 5.82× | ||
| Q3 25 | — | -3.86× | ||
| Q2 25 | — | -21.43× | ||
| Q1 25 | 1.25× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.82× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LOVE
| Showrooms | $102.7M | 68% |
| Internet | $37.3M | 25% |
| Other | $10.2M | 7% |
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% |
