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Side-by-side financial comparison of ServiceTitan, Inc. (TTAN) 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 $249.2M, roughly 1.2× ServiceTitan, Inc.). Upstart Holdings, Inc. runs the higher net margin — 6.3% vs -15.9%, a 22.2% gap on every dollar of revenue. On growth, Upstart Holdings, Inc. posted the faster year-over-year revenue change (35.2% vs 25.0%). Upstart Holdings, Inc. produced more free cash flow last quarter ($108.4M vs $42.2M).
Alphabet Inc. is an American multinational technology conglomerate holding company headquartered in Mountain View, California. It was created through a restructuring of Google on October 2, 2015, and became the parent holding company of Google and several former Google subsidiaries. Alphabet is listed on the large-cap section of the Nasdaq under the ticker symbols GOOGL and GOOG; both classes of stock are components of major stock market indices such as the S&P 500 and Nasdaq-100. Alphabet ha...
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.
TTAN vs UPST — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $249.2M | $296.1M |
| Net Profit | $-39.5M | $18.6M |
| Gross Margin | 70.8% | — |
| Operating Margin | -16.9% | 6.4% |
| Net Margin | -15.9% | 6.3% |
| Revenue YoY | 25.0% | 35.2% |
| Net Profit YoY | 14.9% | 776.4% |
| EPS (diluted) | $-0.42 | $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 | $249.2M | $296.1M | ||
| Q3 25 | $242.1M | $277.1M | ||
| Q2 25 | $215.7M | $257.3M | ||
| Q1 25 | $209.3M | $213.4M | ||
| Q4 24 | $199.3M | $219.0M | ||
| Q3 24 | — | $162.1M | ||
| Q2 24 | $170.3M | $127.6M | ||
| Q1 24 | — | $127.8M |
| Q4 25 | $-39.5M | $18.6M | ||
| Q3 25 | $-32.2M | $31.8M | ||
| Q2 25 | $-46.4M | $5.6M | ||
| Q1 25 | $-100.9M | $-2.4M | ||
| Q4 24 | $-46.5M | $-2.8M | ||
| Q3 24 | — | $-6.8M | ||
| Q2 24 | $-56.0M | $-54.5M | ||
| Q1 24 | — | $-64.6M |
| Q4 25 | 70.8% | — | ||
| Q3 25 | 70.8% | — | ||
| Q2 25 | 68.8% | — | ||
| Q1 25 | 66.0% | — | ||
| Q4 24 | 65.2% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 62.2% | — | ||
| Q1 24 | — | — |
| Q4 25 | -16.9% | 6.4% | ||
| Q3 25 | -14.4% | 8.5% | ||
| Q2 25 | -23.0% | 1.8% | ||
| Q1 25 | -47.7% | -2.1% | ||
| Q4 24 | -22.1% | -2.2% | ||
| Q3 24 | — | -27.8% | ||
| Q2 24 | -31.4% | -43.5% | ||
| Q1 24 | — | -52.8% |
| Q4 25 | -15.9% | 6.3% | ||
| Q3 25 | -13.3% | 11.5% | ||
| Q2 25 | -21.5% | 2.2% | ||
| Q1 25 | -48.2% | -1.1% | ||
| Q4 24 | -23.3% | -1.3% | ||
| Q3 24 | — | -4.2% | ||
| Q2 24 | -32.9% | -42.7% | ||
| Q1 24 | — | -50.5% |
| Q4 25 | $-0.42 | $0.20 | ||
| Q3 25 | $-0.35 | $0.23 | ||
| Q2 25 | $-0.51 | $0.05 | ||
| Q1 25 | $-3.34 | $-0.03 | ||
| Q4 24 | $-1.74 | $-0.01 | ||
| Q3 24 | — | $-0.07 | ||
| Q2 24 | $-2.02 | $-0.62 | ||
| Q1 24 | — | $-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 | $493.2M | $652.4M |
| Total DebtLower is stronger | $103.6M | — |
| Stockholders' EquityBook value | $1.5B | $798.8M |
| Total Assets | $1.8B | $3.0B |
| Debt / EquityLower = less leverage | 0.07× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $493.2M | $652.4M | ||
| Q3 25 | $471.5M | $489.8M | ||
| Q2 25 | $420.3M | $395.9M | ||
| Q1 25 | $441.8M | $599.8M | ||
| Q4 24 | $133.8M | $788.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | $116.2M | — | ||
| Q1 24 | — | — |
| Q4 25 | $103.6M | — | ||
| Q3 25 | $103.7M | — | ||
| Q2 25 | $103.9M | — | ||
| Q1 25 | $104.0M | — | ||
| Q4 24 | $174.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.5B | $798.8M | ||
| Q3 25 | $1.5B | $743.7M | ||
| Q2 25 | $1.5B | $722.0M | ||
| Q1 25 | $1.5B | $676.6M | ||
| Q4 24 | $-576.8M | $633.2M | ||
| Q3 24 | — | $595.5M | ||
| Q2 24 | $-506.0M | $594.7M | ||
| Q1 24 | — | $612.8M |
| Q4 25 | $1.8B | $3.0B | ||
| Q3 25 | $1.8B | $2.9B | ||
| Q2 25 | $1.7B | $2.5B | ||
| Q1 25 | $1.8B | $2.3B | ||
| Q4 24 | $1.5B | $2.4B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | — | $1.9B |
| Q4 25 | 0.07× | — | ||
| Q3 25 | 0.07× | — | ||
| Q2 25 | 0.07× | — | ||
| Q1 25 | 0.07× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $43.8M | $108.6M |
| Free Cash FlowOCF − Capex | $42.2M | $108.4M |
| FCF MarginFCF / Revenue | 16.9% | 36.6% |
| Capex IntensityCapex / Revenue | 0.6% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 5.82× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $43.8M | $108.6M | ||
| Q3 25 | $40.3M | $-122.6M | ||
| Q2 25 | $-14.6M | $-120.2M | ||
| Q1 25 | — | $-13.5M | ||
| Q4 24 | $15.5M | $-110.9M | ||
| Q3 24 | — | $179.3M | ||
| Q2 24 | $-19.2M | $65.3M | ||
| Q1 24 | — | $52.6M |
| Q4 25 | $42.2M | $108.4M | ||
| Q3 25 | $39.2M | $-122.7M | ||
| Q2 25 | $-15.9M | $-120.3M | ||
| Q1 25 | — | — | ||
| Q4 24 | $14.5M | — | ||
| Q3 24 | — | $179.2M | ||
| Q2 24 | $-19.9M | $65.3M | ||
| Q1 24 | — | $51.9M |
| Q4 25 | 16.9% | 36.6% | ||
| Q3 25 | 16.2% | -44.3% | ||
| Q2 25 | -7.4% | -46.7% | ||
| Q1 25 | — | — | ||
| Q4 24 | 7.3% | — | ||
| Q3 24 | — | 110.5% | ||
| Q2 24 | -11.7% | 51.1% | ||
| Q1 24 | — | 40.6% |
| Q4 25 | 0.6% | 0.1% | ||
| Q3 25 | 0.5% | 0.0% | ||
| Q2 25 | 0.6% | 0.0% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | 0.5% | 0.0% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | 0.4% | 0.0% | ||
| Q1 24 | — | 0.5% |
| Q4 25 | — | 5.82× | ||
| Q3 25 | — | -3.86× | ||
| Q2 25 | — | -21.43× | ||
| Q1 25 | — | — | ||
| 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
TTAN
| Subscription Revenue | $182.8M | 73% |
| Usage Revenue | $56.8M | 23% |
| Professional Services And Other Revenue | $9.6M | 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% |
