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Side-by-side financial comparison of OPKO HEALTH, INC. (OPK) 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 $148.5M, roughly 2.0× OPKO HEALTH, INC.). Upstart Holdings, Inc. runs the higher net margin — 6.3% vs -21.1%, a 27.3% gap on every dollar of revenue. On growth, Upstart Holdings, Inc. posted the faster year-over-year revenue change (35.2% vs -19.2%). Upstart Holdings, Inc. produced more free cash flow last quarter ($108.4M vs $-28.6M). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (52.2% CAGR vs -7.5%).
OPKO Health, Inc. is a medical test and medication company focused on diagnostics and pharmaceuticals. The company is a publicly traded company on NASDAQ and TASE under the symbol "OPK".
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.
OPK vs UPST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $148.5M | $296.1M |
| Net Profit | $-31.3M | $18.6M |
| Gross Margin | 43.1% | — |
| Operating Margin | -25.8% | 6.4% |
| Net Margin | -21.1% | 6.3% |
| Revenue YoY | -19.2% | 35.2% |
| Net Profit YoY | -322.8% | 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 | $148.5M | $296.1M | ||
| Q3 25 | $151.7M | $277.1M | ||
| Q2 25 | $156.8M | $257.3M | ||
| Q1 25 | $150.0M | $213.4M | ||
| Q4 24 | $183.6M | $219.0M | ||
| Q3 24 | $173.6M | $162.1M | ||
| Q2 24 | $182.2M | $127.6M | ||
| Q1 24 | $173.7M | $127.8M |
| Q4 25 | $-31.3M | $18.6M | ||
| Q3 25 | $21.6M | $31.8M | ||
| Q2 25 | $-148.4M | $5.6M | ||
| Q1 25 | $-67.6M | $-2.4M | ||
| Q4 24 | $14.0M | $-2.8M | ||
| Q3 24 | $24.9M | $-6.8M | ||
| Q2 24 | $-10.3M | $-54.5M | ||
| Q1 24 | $-81.8M | $-64.6M |
| Q4 25 | 43.1% | — | ||
| Q3 25 | 32.9% | — | ||
| Q2 25 | 31.5% | — | ||
| Q1 25 | 28.4% | — | ||
| Q4 24 | 46.1% | — | ||
| Q3 24 | 23.1% | — | ||
| Q2 24 | 28.4% | — | ||
| Q1 24 | 24.2% | — |
| Q4 25 | -25.8% | 6.4% | ||
| Q3 25 | 31.7% | 8.5% | ||
| Q2 25 | -38.3% | 1.8% | ||
| Q1 25 | -44.8% | -2.1% | ||
| Q4 24 | -18.0% | -2.2% | ||
| Q3 24 | 8.2% | -27.8% | ||
| Q2 24 | -33.9% | -43.5% | ||
| Q1 24 | -41.2% | -52.8% |
| Q4 25 | -21.1% | 6.3% | ||
| Q3 25 | 14.3% | 11.5% | ||
| Q2 25 | -94.7% | 2.2% | ||
| Q1 25 | -45.1% | -1.1% | ||
| Q4 24 | 7.6% | -1.3% | ||
| Q3 24 | 14.3% | -4.2% | ||
| Q2 24 | -5.7% | -42.7% | ||
| Q1 24 | -47.1% | -50.5% |
| Q4 25 | $-0.04 | $0.20 | ||
| Q3 25 | $0.03 | $0.23 | ||
| Q2 25 | $-0.19 | $0.05 | ||
| Q1 25 | $-0.10 | $-0.03 | ||
| Q4 24 | $0.02 | $-0.01 | ||
| Q3 24 | $0.03 | $-0.07 | ||
| Q2 24 | $-0.01 | $-0.62 | ||
| Q1 24 | $-0.12 | $-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 | $364.4M | $652.4M |
| Total DebtLower is stronger | $344.0M | — |
| Stockholders' EquityBook value | $1.3B | $798.8M |
| Total Assets | $1.9B | $3.0B |
| Debt / EquityLower = less leverage | 0.27× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $364.4M | $652.4M | ||
| Q3 25 | $412.0M | $489.8M | ||
| Q2 25 | $267.3M | $395.9M | ||
| Q1 25 | $428.8M | $599.8M | ||
| Q4 24 | $426.6M | $788.4M | ||
| Q3 24 | $400.1M | — | ||
| Q2 24 | $40.6M | — | ||
| Q1 24 | $75.6M | — |
| Q4 25 | $344.0M | — | ||
| Q3 25 | $344.2M | — | ||
| Q2 25 | $343.3M | — | ||
| Q1 25 | $439.2M | — | ||
| Q4 24 | $437.2M | — | ||
| Q3 24 | $441.0M | — | ||
| Q2 24 | $201.9M | — | ||
| Q1 24 | $350.1M | — |
| Q4 25 | $1.3B | $798.8M | ||
| Q3 25 | $1.3B | $743.7M | ||
| Q2 25 | $1.3B | $722.0M | ||
| Q1 25 | $1.3B | $676.6M | ||
| Q4 24 | $1.4B | $633.2M | ||
| Q3 24 | $1.4B | $595.5M | ||
| Q2 24 | $1.4B | $594.7M | ||
| Q1 24 | $1.3B | $612.8M |
| Q4 25 | $1.9B | $3.0B | ||
| Q3 25 | $2.0B | $2.9B | ||
| Q2 25 | $2.0B | $2.5B | ||
| Q1 25 | $2.1B | $2.3B | ||
| Q4 24 | $2.2B | $2.4B | ||
| Q3 24 | $2.3B | $1.8B | ||
| Q2 24 | $2.0B | $1.8B | ||
| Q1 24 | $2.0B | $1.9B |
| Q4 25 | 0.27× | — | ||
| Q3 25 | 0.26× | — | ||
| Q2 25 | 0.26× | — | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 0.32× | — | ||
| Q3 24 | 0.31× | — | ||
| Q2 24 | 0.14× | — | ||
| Q1 24 | 0.28× | — |
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 | $-25.9M | $108.6M |
| Free Cash FlowOCF − Capex | $-28.6M | $108.4M |
| FCF MarginFCF / Revenue | -19.3% | 36.6% |
| Capex IntensityCapex / Revenue | 1.8% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 5.82× |
| TTM Free Cash FlowTrailing 4 quarters | $-190.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-25.9M | $108.6M | ||
| Q3 25 | $-34.6M | $-122.6M | ||
| Q2 25 | $-83.4M | $-120.2M | ||
| Q1 25 | $-34.6M | $-13.5M | ||
| Q4 24 | $-44.4M | $-110.9M | ||
| Q3 24 | $-77.1M | $179.3M | ||
| Q2 24 | $-26.4M | $65.3M | ||
| Q1 24 | $-35.6M | $52.6M |
| Q4 25 | $-28.6M | $108.4M | ||
| Q3 25 | $-37.8M | $-122.7M | ||
| Q2 25 | $-86.7M | $-120.3M | ||
| Q1 25 | $-37.7M | — | ||
| Q4 24 | $-49.8M | — | ||
| Q3 24 | $-85.0M | $179.2M | ||
| Q2 24 | $-33.7M | $65.3M | ||
| Q1 24 | $-40.0M | $51.9M |
| Q4 25 | -19.3% | 36.6% | ||
| Q3 25 | -24.9% | -44.3% | ||
| Q2 25 | -55.3% | -46.7% | ||
| Q1 25 | -25.2% | — | ||
| Q4 24 | -27.1% | — | ||
| Q3 24 | -49.0% | 110.5% | ||
| Q2 24 | -18.5% | 51.1% | ||
| Q1 24 | -23.0% | 40.6% |
| Q4 25 | 1.8% | 0.1% | ||
| Q3 25 | 2.1% | 0.0% | ||
| Q2 25 | 2.1% | 0.0% | ||
| Q1 25 | 2.1% | 0.0% | ||
| Q4 24 | 2.9% | 0.0% | ||
| Q3 24 | 4.6% | 0.1% | ||
| Q2 24 | 4.0% | 0.0% | ||
| Q1 24 | 2.6% | 0.5% |
| Q4 25 | — | 5.82× | ||
| Q3 25 | -1.60× | -3.86× | ||
| Q2 25 | — | -21.43× | ||
| Q1 25 | — | — | ||
| Q4 24 | -3.17× | — | ||
| Q3 24 | -3.10× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OPK
| Services | $71.1M | 48% |
| Transfer Of Intellectual Property And Other | $33.7M | 23% |
| IE | $22.1M | 15% |
| Rayaldee | $8.8M | 6% |
| Barda Agreement | $6.8M | 5% |
| MX | $6.3M | 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% |
