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Side-by-side financial comparison of OIL STATES INTERNATIONAL, INC (OIS) 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 ($308.2M vs $178.5M, roughly 1.7× OIL STATES INTERNATIONAL, INC). Upstart Holdings, Inc. runs the higher net margin — -2.2% vs -65.7%, a 63.5% gap on every dollar of revenue. On growth, Upstart Holdings, Inc. posted the faster year-over-year revenue change (44.4% vs 8.4%). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (55.4% CAGR vs 3.3%).
Oil States International, Inc. is an American multinational corporation. It focuses on providing services to oil and gas companies. It is a public company listed on the New York Stock Exchange.
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.
OIS vs UPST — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $178.5M | $308.2M |
| Net Profit | $-117.2M | $-6.6M |
| Gross Margin | 10.9% | — |
| Operating Margin | -63.7% | -2.4% |
| Net Margin | -65.7% | -2.2% |
| Revenue YoY | 8.4% | 44.4% |
| Net Profit YoY | -873.2% | -171.6% |
| EPS (diluted) | $-1.99 | $-0.07 |
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 | — | $308.2M | ||
| Q4 25 | $178.5M | $296.1M | ||
| Q3 25 | $165.2M | $277.1M | ||
| Q2 25 | $165.4M | $257.3M | ||
| Q1 25 | $159.9M | $213.4M | ||
| Q4 24 | $164.6M | $219.0M | ||
| Q3 24 | $174.3M | $162.1M | ||
| Q2 24 | $186.4M | $127.6M |
| Q1 26 | — | $-6.6M | ||
| Q4 25 | $-117.2M | $18.6M | ||
| Q3 25 | $1.9M | $31.8M | ||
| Q2 25 | $2.8M | $5.6M | ||
| Q1 25 | $3.2M | $-2.4M | ||
| Q4 24 | $15.2M | $-2.8M | ||
| Q3 24 | $-14.3M | $-6.8M | ||
| Q2 24 | $1.3M | $-54.5M |
| Q1 26 | — | — | ||
| Q4 25 | 10.9% | — | ||
| Q3 25 | 22.1% | — | ||
| Q2 25 | 24.2% | — | ||
| Q1 25 | 23.3% | — | ||
| Q4 24 | 23.7% | — | ||
| Q3 24 | 21.7% | — | ||
| Q2 24 | 23.8% | — |
| Q1 26 | — | -2.4% | ||
| Q4 25 | -63.7% | 6.4% | ||
| Q3 25 | 2.9% | 8.5% | ||
| Q2 25 | 3.2% | 1.8% | ||
| Q1 25 | 3.5% | -2.1% | ||
| Q4 24 | 11.2% | -2.2% | ||
| Q3 24 | -6.3% | -27.8% | ||
| Q2 24 | 1.1% | -43.5% |
| Q1 26 | — | -2.2% | ||
| Q4 25 | -65.7% | 6.3% | ||
| Q3 25 | 1.2% | 11.5% | ||
| Q2 25 | 1.7% | 2.2% | ||
| Q1 25 | 2.0% | -1.1% | ||
| Q4 24 | 9.2% | -1.3% | ||
| Q3 24 | -8.2% | -4.2% | ||
| Q2 24 | 0.7% | -42.7% |
| Q1 26 | — | $-0.07 | ||
| Q4 25 | $-1.99 | $0.20 | ||
| Q3 25 | $0.03 | $0.23 | ||
| Q2 25 | $0.05 | $0.05 | ||
| Q1 25 | $0.05 | $-0.03 | ||
| Q4 24 | $0.24 | $-0.01 | ||
| Q3 24 | $-0.23 | $-0.07 | ||
| Q2 24 | $0.02 | $-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 | $69.9M | $472.9M |
| Total DebtLower is stronger | $1.7M | — |
| Stockholders' EquityBook value | $573.2M | $733.2M |
| Total Assets | $883.4M | $3.0B |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $472.9M | ||
| Q4 25 | $69.9M | $652.4M | ||
| Q3 25 | $67.1M | $489.8M | ||
| Q2 25 | $53.9M | $395.9M | ||
| Q1 25 | $66.8M | $599.8M | ||
| Q4 24 | $65.4M | $788.4M | ||
| Q3 24 | $46.0M | — | ||
| Q2 24 | $25.2M | — |
| Q1 26 | — | — | ||
| Q4 25 | $1.7M | — | ||
| Q3 25 | $1.9M | — | ||
| Q2 25 | $1.9M | — | ||
| Q1 25 | $124.7M | — | ||
| Q4 24 | $124.7M | — | ||
| Q3 24 | $124.6M | — | ||
| Q2 24 | $124.3M | — |
| Q1 26 | — | $733.2M | ||
| Q4 25 | $573.2M | $798.8M | ||
| Q3 25 | $689.0M | $743.7M | ||
| Q2 25 | $690.6M | $722.0M | ||
| Q1 25 | $683.4M | $676.6M | ||
| Q4 24 | $680.7M | $633.2M | ||
| Q3 24 | $684.8M | $595.5M | ||
| Q2 24 | $690.4M | $594.7M |
| Q1 26 | — | $3.0B | ||
| Q4 25 | $883.4M | $3.0B | ||
| Q3 25 | $1.0B | $2.9B | ||
| Q2 25 | $993.7M | $2.5B | ||
| Q1 25 | $990.7M | $2.3B | ||
| Q4 24 | $1.0B | $2.4B | ||
| Q3 24 | $994.1M | $1.8B | ||
| Q2 24 | $1.0B | $1.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.00× | — | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | 0.18× | — | ||
| Q4 24 | 0.18× | — | ||
| Q3 24 | 0.18× | — | ||
| Q2 24 | 0.18× | — |
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 | $50.1M | $-133.3M |
| Free Cash FlowOCF − Capex | $47.1M | — |
| FCF MarginFCF / Revenue | 26.4% | — |
| Capex IntensityCapex / Revenue | 1.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $73.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-133.3M | ||
| Q4 25 | $50.1M | $108.6M | ||
| Q3 25 | $30.7M | $-122.6M | ||
| Q2 25 | $15.0M | $-120.2M | ||
| Q1 25 | $9.3M | $-13.5M | ||
| Q4 24 | $18.2M | $-110.9M | ||
| Q3 24 | $28.8M | $179.3M | ||
| Q2 24 | $10.2M | $65.3M |
| Q1 26 | — | — | ||
| Q4 25 | $47.1M | $108.4M | ||
| Q3 25 | $22.0M | $-122.7M | ||
| Q2 25 | $4.7M | $-120.3M | ||
| Q1 25 | $137.0K | — | ||
| Q4 24 | $4.0M | — | ||
| Q3 24 | $21.4M | $179.2M | ||
| Q2 24 | $4.5M | $65.3M |
| Q1 26 | — | — | ||
| Q4 25 | 26.4% | 36.6% | ||
| Q3 25 | 13.3% | -44.3% | ||
| Q2 25 | 2.8% | -46.7% | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 2.4% | — | ||
| Q3 24 | 12.3% | 110.5% | ||
| Q2 24 | 2.4% | 51.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | 0.1% | ||
| Q3 25 | 5.3% | 0.0% | ||
| Q2 25 | 6.2% | 0.0% | ||
| Q1 25 | 5.7% | 0.0% | ||
| Q4 24 | 8.6% | 0.0% | ||
| Q3 24 | 4.3% | 0.1% | ||
| Q2 24 | 3.1% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.82× | ||
| Q3 25 | 16.15× | -3.86× | ||
| Q2 25 | 5.33× | -21.43× | ||
| Q1 25 | 2.94× | — | ||
| Q4 24 | 1.20× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 7.87× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OIS
| Project Driven | $112.6M | 63% |
| Downhole Technologies | $32.1M | 18% |
| Completion And Production Services | $23.1M | 13% |
| Military And Other Products | $10.7M | 6% |
UPST
| Platform and referral fees, net | $224.6M | 73% |
| Servicing and other fees, net | $52.4M | 17% |
| Other | $31.2M | 10% |
