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Side-by-side financial comparison of TENNANT CO (TNC) 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 $291.6M, roughly 1.1× TENNANT CO). TENNANT CO runs the higher net margin — -1.5% vs -2.2%, a 0.6% gap on every dollar of revenue. On growth, Upstart Holdings, Inc. posted the faster year-over-year revenue change (44.4% vs -11.3%). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (55.4% CAGR vs -3.2%).
The Tennant Company (TNC:NYQ) is a company with about 4000 employees that provides cleaning products. It is a company that is listed in 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.
TNC vs UPST — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $291.6M | $308.2M |
| Net Profit | $-4.4M | $-6.6M |
| Gross Margin | 34.6% | — |
| Operating Margin | -1.4% | -2.4% |
| Net Margin | -1.5% | -2.2% |
| Revenue YoY | -11.3% | 44.4% |
| Net Profit YoY | -166.7% | -171.6% |
| EPS (diluted) | $-0.21 | $-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 | $291.6M | $296.1M | ||
| Q3 25 | $303.3M | $277.1M | ||
| Q2 25 | $318.6M | $257.3M | ||
| Q1 25 | $290.0M | $213.4M | ||
| Q4 24 | $328.9M | $219.0M | ||
| Q3 24 | $315.8M | $162.1M | ||
| Q2 24 | $331.0M | $127.6M |
| Q1 26 | — | $-6.6M | ||
| Q4 25 | $-4.4M | $18.6M | ||
| Q3 25 | $14.9M | $31.8M | ||
| Q2 25 | $20.2M | $5.6M | ||
| Q1 25 | $13.1M | $-2.4M | ||
| Q4 24 | $6.6M | $-2.8M | ||
| Q3 24 | $20.8M | $-6.8M | ||
| Q2 24 | $27.9M | $-54.5M |
| Q1 26 | — | — | ||
| Q4 25 | 34.6% | — | ||
| Q3 25 | 42.7% | — | ||
| Q2 25 | 42.1% | — | ||
| Q1 25 | 41.4% | — | ||
| Q4 24 | 41.3% | — | ||
| Q3 24 | 42.4% | — | ||
| Q2 24 | 43.1% | — |
| Q1 26 | — | -2.4% | ||
| Q4 25 | -1.4% | 6.4% | ||
| Q3 25 | 7.4% | 8.5% | ||
| Q2 25 | 9.6% | 1.8% | ||
| Q1 25 | 6.8% | -2.1% | ||
| Q4 24 | 2.3% | -2.2% | ||
| Q3 24 | 9.7% | -27.8% | ||
| Q2 24 | 11.7% | -43.5% |
| Q1 26 | — | -2.2% | ||
| Q4 25 | -1.5% | 6.3% | ||
| Q3 25 | 4.9% | 11.5% | ||
| Q2 25 | 6.3% | 2.2% | ||
| Q1 25 | 4.5% | -1.1% | ||
| Q4 24 | 2.0% | -1.3% | ||
| Q3 24 | 6.6% | -4.2% | ||
| Q2 24 | 8.4% | -42.7% |
| Q1 26 | — | $-0.07 | ||
| Q4 25 | $-0.21 | $0.20 | ||
| Q3 25 | $0.80 | $0.23 | ||
| Q2 25 | $1.08 | $0.05 | ||
| Q1 25 | $0.69 | $-0.03 | ||
| Q4 24 | $0.35 | $-0.01 | ||
| Q3 24 | $1.09 | $-0.07 | ||
| Q2 24 | $1.45 | $-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 | — | $472.9M |
| Total DebtLower is stronger | $273.2M | — |
| Stockholders' EquityBook value | $601.6M | $733.2M |
| Total Assets | $1.3B | $3.0B |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $472.9M | ||
| Q4 25 | — | $652.4M | ||
| Q3 25 | — | $489.8M | ||
| Q2 25 | — | $395.9M | ||
| Q1 25 | — | $599.8M | ||
| Q4 24 | — | $788.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $273.2M | — | ||
| Q3 25 | $238.3M | — | ||
| Q2 25 | $213.4M | — | ||
| Q1 25 | $213.3M | — | ||
| Q4 24 | $198.2M | — | ||
| Q3 24 | $208.6M | — | ||
| Q2 24 | $205.6M | — |
| Q1 26 | — | $733.2M | ||
| Q4 25 | $601.6M | $798.8M | ||
| Q3 25 | $640.9M | $743.7M | ||
| Q2 25 | $651.9M | $722.0M | ||
| Q1 25 | $624.4M | $676.6M | ||
| Q4 24 | $620.8M | $633.2M | ||
| Q3 24 | $647.2M | $595.5M | ||
| Q2 24 | $624.6M | $594.7M |
| Q1 26 | — | $3.0B | ||
| Q4 25 | $1.3B | $3.0B | ||
| Q3 25 | $1.3B | $2.9B | ||
| Q2 25 | $1.2B | $2.5B | ||
| Q1 25 | $1.2B | $2.3B | ||
| Q4 24 | $1.2B | $2.4B | ||
| Q3 24 | $1.2B | $1.8B | ||
| Q2 24 | $1.2B | $1.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.45× | — | ||
| Q3 25 | 0.37× | — | ||
| Q2 25 | 0.33× | — | ||
| Q1 25 | 0.34× | — | ||
| Q4 24 | 0.32× | — | ||
| Q3 24 | 0.32× | — | ||
| Q2 24 | 0.33× | — |
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 | $14.2M | $-133.3M |
| Free Cash FlowOCF − Capex | $9.7M | — |
| FCF MarginFCF / Revenue | 3.3% | — |
| Capex IntensityCapex / Revenue | 1.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $43.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-133.3M | ||
| Q4 25 | $14.2M | $108.6M | ||
| Q3 25 | $28.7M | $-122.6M | ||
| Q2 25 | $22.5M | $-120.2M | ||
| Q1 25 | $-400.0K | $-13.5M | ||
| Q4 24 | $37.5M | $-110.9M | ||
| Q3 24 | $30.7M | $179.3M | ||
| Q2 24 | $18.6M | $65.3M |
| Q1 26 | — | — | ||
| Q4 25 | $9.7M | $108.4M | ||
| Q3 25 | $22.3M | $-122.7M | ||
| Q2 25 | $18.7M | $-120.3M | ||
| Q1 25 | $-7.4M | — | ||
| Q4 24 | $28.1M | — | ||
| Q3 24 | $26.4M | $179.2M | ||
| Q2 24 | $14.4M | $65.3M |
| Q1 26 | — | — | ||
| Q4 25 | 3.3% | 36.6% | ||
| Q3 25 | 7.4% | -44.3% | ||
| Q2 25 | 5.9% | -46.7% | ||
| Q1 25 | -2.6% | — | ||
| Q4 24 | 8.5% | — | ||
| Q3 24 | 8.4% | 110.5% | ||
| Q2 24 | 4.4% | 51.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.5% | 0.1% | ||
| Q3 25 | 2.1% | 0.0% | ||
| Q2 25 | 1.2% | 0.0% | ||
| Q1 25 | 2.4% | 0.0% | ||
| Q4 24 | 2.9% | 0.0% | ||
| Q3 24 | 1.4% | 0.1% | ||
| Q2 24 | 1.3% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.82× | ||
| Q3 25 | 1.93× | -3.86× | ||
| Q2 25 | 1.11× | -21.43× | ||
| Q1 25 | -0.03× | — | ||
| Q4 24 | 5.68× | — | ||
| Q3 24 | 1.48× | — | ||
| Q2 24 | 0.67× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TNC
| Equipment Sales | $165.5M | 57% |
| Parts And Consumables | $69.1M | 24% |
| Service And Other | $57.0M | 20% |
UPST
| Platform and referral fees, net | $224.6M | 73% |
| Servicing and other fees, net | $52.4M | 17% |
| Other | $31.2M | 10% |
