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Side-by-side financial comparison of PTC THERAPEUTICS, INC. (PTCT) 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 $164.7M, roughly 1.8× PTC THERAPEUTICS, INC.). Upstart Holdings, Inc. runs the higher net margin — 6.3% vs -82.0%, a 88.3% gap on every dollar of revenue. On growth, Upstart Holdings, Inc. posted the faster year-over-year revenue change (35.2% vs -22.7%). Upstart Holdings, Inc. produced more free cash flow last quarter ($108.4M vs $-36.6M). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (52.2% CAGR vs -11.5%).
PTC Therapeutics, Inc. is a US pharmaceutical company focused on the development of orally administered small molecule drugs and gene therapy which regulate gene expression by targeting post-transcriptional control (PTC) mechanisms in orphan diseases.
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.
PTCT vs UPST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $164.7M | $296.1M |
| Net Profit | $-135.0M | $18.6M |
| Gross Margin | — | — |
| Operating Margin | -43.3% | 6.4% |
| Net Margin | -82.0% | 6.3% |
| Revenue YoY | -22.7% | 35.2% |
| Net Profit YoY | -104.8% | 776.4% |
| EPS (diluted) | $-1.63 | $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 | $164.7M | $296.1M | ||
| Q3 25 | $211.0M | $277.1M | ||
| Q2 25 | $178.9M | $257.3M | ||
| Q1 25 | $1.2B | $213.4M | ||
| Q4 24 | $213.2M | $219.0M | ||
| Q3 24 | $196.8M | $162.1M | ||
| Q2 24 | $186.7M | $127.6M | ||
| Q1 24 | $210.1M | $127.8M |
| Q4 25 | $-135.0M | $18.6M | ||
| Q3 25 | $15.9M | $31.8M | ||
| Q2 25 | $-64.8M | $5.6M | ||
| Q1 25 | $866.6M | $-2.4M | ||
| Q4 24 | $-65.9M | $-2.8M | ||
| Q3 24 | $-106.7M | $-6.8M | ||
| Q2 24 | $-99.2M | $-54.5M | ||
| Q1 24 | $-91.6M | $-64.6M |
| Q4 25 | -43.3% | 6.4% | ||
| Q3 25 | 1.4% | 8.5% | ||
| Q2 25 | -19.5% | 1.8% | ||
| Q1 25 | 82.5% | -2.1% | ||
| Q4 24 | -76.2% | -2.2% | ||
| Q3 24 | -27.7% | -27.8% | ||
| Q2 24 | -21.5% | -43.5% | ||
| Q1 24 | -21.6% | -52.8% |
| Q4 25 | -82.0% | 6.3% | ||
| Q3 25 | 7.5% | 11.5% | ||
| Q2 25 | -36.3% | 2.2% | ||
| Q1 25 | 73.7% | -1.1% | ||
| Q4 24 | -30.9% | -1.3% | ||
| Q3 24 | -54.2% | -4.2% | ||
| Q2 24 | -53.1% | -42.7% | ||
| Q1 24 | -43.6% | -50.5% |
| Q4 25 | $-1.63 | $0.20 | ||
| Q3 25 | $0.20 | $0.23 | ||
| Q2 25 | $-0.83 | $0.05 | ||
| Q1 25 | $10.04 | $-0.03 | ||
| Q4 24 | $-0.85 | $-0.01 | ||
| Q3 24 | $-1.39 | $-0.07 | ||
| Q2 24 | $-1.29 | $-0.62 | ||
| Q1 24 | $-1.20 | $-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 | $1.9B | $652.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-205.3M | $798.8M |
| Total Assets | $2.9B | $3.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $652.4M | ||
| Q3 25 | $1.7B | $489.8M | ||
| Q2 25 | $2.0B | $395.9M | ||
| Q1 25 | $2.0B | $599.8M | ||
| Q4 24 | $1.1B | $788.4M | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $884.8M | — |
| Q4 25 | $-205.3M | $798.8M | ||
| Q3 25 | $-155.8M | $743.7M | ||
| Q2 25 | $-206.5M | $722.0M | ||
| Q1 25 | $-185.8M | $676.6M | ||
| Q4 24 | $-1.1B | $633.2M | ||
| Q3 24 | $-1.1B | $595.5M | ||
| Q2 24 | $-980.2M | $594.7M | ||
| Q1 24 | $-893.9M | $612.8M |
| Q4 25 | $2.9B | $3.0B | ||
| Q3 25 | $2.6B | $2.9B | ||
| Q2 25 | $2.6B | $2.5B | ||
| Q1 25 | $2.7B | $2.3B | ||
| Q4 24 | $1.7B | $2.4B | ||
| Q3 24 | $1.8B | $1.8B | ||
| Q2 24 | $1.9B | $1.8B | ||
| Q1 24 | $1.8B | $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 | $-34.3M | $108.6M |
| Free Cash FlowOCF − Capex | $-36.6M | $108.4M |
| FCF MarginFCF / Revenue | -22.3% | 36.6% |
| Capex IntensityCapex / Revenue | 1.4% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 5.82× |
| TTM Free Cash FlowTrailing 4 quarters | $702.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.3M | $108.6M | ||
| Q3 25 | $-66.3M | $-122.6M | ||
| Q2 25 | $-58.3M | $-120.2M | ||
| Q1 25 | $870.1M | $-13.5M | ||
| Q4 24 | $-30.0M | $-110.9M | ||
| Q3 24 | $-77.0M | $179.3M | ||
| Q2 24 | $-71.5M | $65.3M | ||
| Q1 24 | $70.8M | $52.6M |
| Q4 25 | $-36.6M | $108.4M | ||
| Q3 25 | $-69.7M | $-122.7M | ||
| Q2 25 | $-59.6M | $-120.3M | ||
| Q1 25 | $868.4M | — | ||
| Q4 24 | $-33.8M | — | ||
| Q3 24 | $-77.5M | $179.2M | ||
| Q2 24 | $-78.8M | $65.3M | ||
| Q1 24 | $61.2M | $51.9M |
| Q4 25 | -22.3% | 36.6% | ||
| Q3 25 | -33.1% | -44.3% | ||
| Q2 25 | -33.3% | -46.7% | ||
| Q1 25 | 73.8% | — | ||
| Q4 24 | -15.8% | — | ||
| Q3 24 | -39.4% | 110.5% | ||
| Q2 24 | -42.2% | 51.1% | ||
| Q1 24 | 29.1% | 40.6% |
| Q4 25 | 1.4% | 0.1% | ||
| Q3 25 | 1.6% | 0.0% | ||
| Q2 25 | 0.7% | 0.0% | ||
| Q1 25 | 0.1% | 0.0% | ||
| Q4 24 | 1.8% | 0.0% | ||
| Q3 24 | 0.3% | 0.1% | ||
| Q2 24 | 4.0% | 0.0% | ||
| Q1 24 | 4.6% | 0.5% |
| Q4 25 | — | 5.82× | ||
| Q3 25 | -4.17× | -3.86× | ||
| Q2 25 | — | -21.43× | ||
| Q1 25 | 1.00× | — | ||
| 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
PTCT
Segment breakdown not available.
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% |
