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Side-by-side financial comparison of Upstart Holdings, Inc. (UPST) and USANA HEALTH SCIENCES INC (USNA). Click either name above to swap in a different company.
Upstart Holdings, Inc. is the larger business by last-quarter revenue ($308.2M vs $250.2M, roughly 1.2× USANA HEALTH SCIENCES INC). USANA HEALTH SCIENCES INC runs the higher net margin — 3.0% vs -2.2%, a 5.2% gap on every dollar of revenue. On growth, Upstart Holdings, Inc. posted the faster year-over-year revenue change (44.4% vs -3.0%). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (55.4% CAGR vs 11.8%).
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.
Usana Health Sciences, Inc., or USANA, is an American multi-level marketing company based in Salt Lake City, Utah. As of 2021, Usana was the 14th largest direct-selling company in the world by revenue. The company manufactures most of its nutritional products, dietary supplements, and skincare products at a Salt Lake City facility. Its products are sold in 24 countries via a network of independent distributors.
UPST vs USNA — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2027
| Metric | | |
|---|---|---|
| Revenue | $308.2M | $250.2M |
| Net Profit | $-6.6M | $7.5M |
| Gross Margin | — | 76.2% |
| Operating Margin | -2.4% | 5.5% |
| Net Margin | -2.2% | 3.0% |
| Revenue YoY | 44.4% | -3.0% |
| Net Profit YoY | -171.6% | -20.0% |
| EPS (diluted) | $-0.07 | $0.41 |
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 | $250.2M | ||
| Q4 25 | $296.1M | $226.2M | ||
| Q3 25 | $277.1M | $213.7M | ||
| Q2 25 | $257.3M | $235.8M | ||
| Q1 25 | $213.4M | $249.5M | ||
| Q4 24 | $219.0M | $213.6M | ||
| Q3 24 | $162.1M | $200.2M | ||
| Q2 24 | $127.6M | — |
| Q1 26 | $-6.6M | $7.5M | ||
| Q4 25 | $18.6M | $180.0K | ||
| Q3 25 | $31.8M | $-6.5M | ||
| Q2 25 | $5.6M | $9.7M | ||
| Q1 25 | $-2.4M | $9.4M | ||
| Q4 24 | $-2.8M | $4.5M | ||
| Q3 24 | $-6.8M | $10.6M | ||
| Q2 24 | $-54.5M | — |
| Q1 26 | — | 76.2% | ||
| Q4 25 | — | 78.2% | ||
| Q3 25 | — | 77.2% | ||
| Q2 25 | — | 78.7% | ||
| Q1 25 | — | 79.0% | ||
| Q4 24 | — | 82.0% | ||
| Q3 24 | — | 80.4% | ||
| Q2 24 | — | — |
| Q1 26 | -2.4% | 5.5% | ||
| Q4 25 | 6.4% | 1.7% | ||
| Q3 25 | 8.5% | 0.6% | ||
| Q2 25 | 1.8% | 7.1% | ||
| Q1 25 | -2.1% | 6.3% | ||
| Q4 24 | -2.2% | 3.8% | ||
| Q3 24 | -27.8% | 7.8% | ||
| Q2 24 | -43.5% | — |
| Q1 26 | -2.2% | 3.0% | ||
| Q4 25 | 6.3% | 0.1% | ||
| Q3 25 | 11.5% | -3.1% | ||
| Q2 25 | 2.2% | 4.1% | ||
| Q1 25 | -1.1% | 3.8% | ||
| Q4 24 | -1.3% | 2.1% | ||
| Q3 24 | -4.2% | 5.3% | ||
| Q2 24 | -42.7% | — |
| Q1 26 | $-0.07 | $0.41 | ||
| Q4 25 | $0.20 | $-0.10 | ||
| Q3 25 | $0.23 | $-0.36 | ||
| Q2 25 | $0.05 | $0.52 | ||
| Q1 25 | $-0.03 | $0.49 | ||
| Q4 24 | $-0.01 | $0.23 | ||
| Q3 24 | $-0.07 | $0.56 | ||
| Q2 24 | $-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 | $162.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $733.2M | — |
| Total Assets | $3.0B | $739.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $472.9M | $162.8M | ||
| Q4 25 | $652.4M | $158.4M | ||
| Q3 25 | $489.8M | $145.3M | ||
| Q2 25 | $395.9M | $151.3M | ||
| Q1 25 | $599.8M | $179.6M | ||
| Q4 24 | $788.4M | $181.8M | ||
| Q3 24 | — | $364.9M | ||
| Q2 24 | — | — |
| Q1 26 | $733.2M | — | ||
| Q4 25 | $798.8M | — | ||
| Q3 25 | $743.7M | $528.1M | ||
| Q2 25 | $722.0M | $531.1M | ||
| Q1 25 | $676.6M | $529.8M | ||
| Q4 24 | $633.2M | $532.1M | ||
| Q3 24 | $595.5M | $533.1M | ||
| Q2 24 | $594.7M | — |
| Q1 26 | $3.0B | $739.0M | ||
| Q4 25 | $3.0B | $742.9M | ||
| Q3 25 | $2.9B | $726.6M | ||
| Q2 25 | $2.5B | $734.5M | ||
| Q1 25 | $2.3B | $746.6M | ||
| Q4 24 | $2.4B | $748.2M | ||
| Q3 24 | $1.8B | $671.3M | ||
| Q2 24 | $1.8B | — |
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 | $-133.3M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-133.3M | — | ||
| Q4 25 | $108.6M | — | ||
| Q3 25 | $-122.6M | $-2.0M | ||
| Q2 25 | $-120.2M | $12.2M | ||
| Q1 25 | $-13.5M | $15.5M | ||
| Q4 24 | $-110.9M | $5.8M | ||
| Q3 24 | $179.3M | $29.5M | ||
| Q2 24 | $65.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | $108.4M | — | ||
| Q3 25 | $-122.7M | $-5.2M | ||
| Q2 25 | $-120.3M | $7.2M | ||
| Q1 25 | — | $12.7M | ||
| Q4 24 | — | $4.0M | ||
| Q3 24 | $179.2M | $27.1M | ||
| Q2 24 | $65.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | 36.6% | — | ||
| Q3 25 | -44.3% | -2.4% | ||
| Q2 25 | -46.7% | 3.0% | ||
| Q1 25 | — | 5.1% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | 110.5% | 13.6% | ||
| Q2 24 | 51.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.0% | 1.5% | ||
| Q2 25 | 0.0% | 2.1% | ||
| Q1 25 | 0.0% | 1.1% | ||
| Q4 24 | 0.0% | 0.8% | ||
| Q3 24 | 0.1% | 1.2% | ||
| Q2 24 | 0.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | 5.82× | — | ||
| Q3 25 | -3.86× | — | ||
| Q2 25 | -21.43× | 1.27× | ||
| Q1 25 | — | 1.65× | ||
| Q4 24 | — | 1.29× | ||
| Q3 24 | — | 2.78× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
UPST
| Platform and referral fees, net | $224.6M | 73% |
| Servicing and other fees, net | $52.4M | 17% |
| Other | $31.2M | 10% |
USNA
Segment breakdown not available.
