vs
Side-by-side financial comparison of Upstart Holdings, Inc. (UPST) and UNIVERSAL TECHNICAL INSTITUTE INC (UTI). Click either name above to swap in a different company.
Upstart Holdings, Inc. is the larger business by last-quarter revenue ($296.1M vs $220.8M, roughly 1.3× UNIVERSAL TECHNICAL INSTITUTE INC). Upstart Holdings, Inc. runs the higher net margin — 6.3% vs 5.8%, a 0.5% gap on every dollar of revenue. On growth, Upstart Holdings, Inc. posted the faster year-over-year revenue change (35.2% vs 9.6%). Upstart Holdings, Inc. produced more free cash flow last quarter ($108.4M vs $-19.2M). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (52.2% CAGR vs 9.5%).
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.
Universal Technical Institute, Inc. (UTI) is a private for-profit system of technical colleges in the United States. It was established in 1965 by Robert Sweet.
UPST vs UTI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $296.1M | $220.8M |
| Net Profit | $18.6M | $12.8M |
| Gross Margin | — | — |
| Operating Margin | 6.4% | 7.1% |
| Net Margin | 6.3% | 5.8% |
| Revenue YoY | 35.2% | 9.6% |
| Net Profit YoY | 776.4% | -42.1% |
| EPS (diluted) | $0.20 | $0.23 |
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 | $296.1M | $220.8M | ||
| Q3 25 | $277.1M | $222.4M | ||
| Q2 25 | $257.3M | $204.3M | ||
| Q1 25 | $213.4M | $207.4M | ||
| Q4 24 | $219.0M | $201.4M | ||
| Q3 24 | $162.1M | $196.4M | ||
| Q2 24 | $127.6M | $177.5M | ||
| Q1 24 | $127.8M | $184.2M |
| Q4 25 | $18.6M | $12.8M | ||
| Q3 25 | $31.8M | $18.8M | ||
| Q2 25 | $5.6M | $10.7M | ||
| Q1 25 | $-2.4M | $11.4M | ||
| Q4 24 | $-2.8M | $22.2M | ||
| Q3 24 | $-6.8M | $18.8M | ||
| Q2 24 | $-54.5M | $5.0M | ||
| Q1 24 | $-64.6M | $7.8M |
| Q4 25 | 6.4% | 7.1% | ||
| Q3 25 | 8.5% | 11.2% | ||
| Q2 25 | 1.8% | 6.9% | ||
| Q1 25 | -2.1% | 8.1% | ||
| Q4 24 | -2.2% | 13.6% | ||
| Q3 24 | -27.8% | 13.3% | ||
| Q2 24 | -43.5% | 4.2% | ||
| Q1 24 | -52.8% | 6.1% |
| Q4 25 | 6.3% | 5.8% | ||
| Q3 25 | 11.5% | 8.4% | ||
| Q2 25 | 2.2% | 5.2% | ||
| Q1 25 | -1.1% | 5.5% | ||
| Q4 24 | -1.3% | 11.0% | ||
| Q3 24 | -4.2% | 9.6% | ||
| Q2 24 | -42.7% | 2.8% | ||
| Q1 24 | -50.5% | 4.2% |
| Q4 25 | $0.20 | $0.23 | ||
| Q3 25 | $0.23 | $0.33 | ||
| Q2 25 | $0.05 | $0.19 | ||
| Q1 25 | $-0.03 | $0.21 | ||
| Q4 24 | $-0.01 | $0.40 | ||
| Q3 24 | $-0.07 | $0.35 | ||
| Q2 24 | $-0.62 | $0.09 | ||
| Q1 24 | $-0.74 | $0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $652.4M | $162.8M |
| Total DebtLower is stronger | — | $101.4M |
| Stockholders' EquityBook value | $798.8M | $335.9M |
| Total Assets | $3.0B | $834.0M |
| Debt / EquityLower = less leverage | — | 0.30× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $652.4M | $162.8M | ||
| Q3 25 | $489.8M | $169.1M | ||
| Q2 25 | $395.9M | $70.7M | ||
| Q1 25 | $599.8M | $96.0M | ||
| Q4 24 | $788.4M | $172.0M | ||
| Q3 24 | — | $161.9M | ||
| Q2 24 | — | $115.5M | ||
| Q1 24 | — | $116.1M |
| Q4 25 | — | $101.4M | ||
| Q3 25 | — | $87.1M | ||
| Q2 25 | — | $73.8M | ||
| Q1 25 | — | $94.4M | ||
| Q4 24 | — | $120.1M | ||
| Q3 24 | — | $125.7M | ||
| Q2 24 | — | $137.3M | ||
| Q1 24 | — | $141.9M |
| Q4 25 | $798.8M | $335.9M | ||
| Q3 25 | $743.7M | $328.1M | ||
| Q2 25 | $722.0M | $306.8M | ||
| Q1 25 | $676.6M | $293.9M | ||
| Q4 24 | $633.2M | $280.0M | ||
| Q3 24 | $595.5M | $260.2M | ||
| Q2 24 | $594.7M | $239.4M | ||
| Q1 24 | $612.8M | $232.6M |
| Q4 25 | $3.0B | $834.0M | ||
| Q3 25 | $2.9B | $826.1M | ||
| Q2 25 | $2.5B | $740.8M | ||
| Q1 25 | $2.3B | $720.4M | ||
| Q4 24 | $2.4B | $753.8M | ||
| Q3 24 | $1.8B | $744.6M | ||
| Q2 24 | $1.8B | $706.0M | ||
| Q1 24 | $1.9B | $702.1M |
| Q4 25 | — | 0.30× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | — | 0.48× | ||
| Q2 24 | — | 0.57× | ||
| Q1 24 | — | 0.61× |
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 | $108.6M | $3.1M |
| Free Cash FlowOCF − Capex | $108.4M | $-19.2M |
| FCF MarginFCF / Revenue | 36.6% | -8.7% |
| Capex IntensityCapex / Revenue | 0.1% | 10.1% |
| Cash ConversionOCF / Net Profit | 5.82× | 0.24× |
| TTM Free Cash FlowTrailing 4 quarters | — | $16.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.6M | $3.1M | ||
| Q3 25 | $-122.6M | $57.1M | ||
| Q2 25 | $-120.2M | $18.1M | ||
| Q1 25 | $-13.5M | $-789.0K | ||
| Q4 24 | $-110.9M | $23.0M | ||
| Q3 24 | $179.3M | $67.5M | ||
| Q2 24 | $65.3M | $10.0M | ||
| Q1 24 | $52.6M | $-2.5M |
| Q4 25 | $108.4M | $-19.2M | ||
| Q3 25 | $-122.7M | $40.6M | ||
| Q2 25 | $-120.3M | $6.8M | ||
| Q1 25 | — | $-11.7M | ||
| Q4 24 | — | $19.6M | ||
| Q3 24 | $179.2M | $60.0M | ||
| Q2 24 | $65.3M | $3.0M | ||
| Q1 24 | $51.9M | $-8.4M |
| Q4 25 | 36.6% | -8.7% | ||
| Q3 25 | -44.3% | 18.3% | ||
| Q2 25 | -46.7% | 3.4% | ||
| Q1 25 | — | -5.7% | ||
| Q4 24 | — | 9.7% | ||
| Q3 24 | 110.5% | 30.6% | ||
| Q2 24 | 51.1% | 1.7% | ||
| Q1 24 | 40.6% | -4.6% |
| Q4 25 | 0.1% | 10.1% | ||
| Q3 25 | 0.0% | 7.4% | ||
| Q2 25 | 0.0% | 5.5% | ||
| Q1 25 | 0.0% | 5.3% | ||
| Q4 24 | 0.0% | 1.7% | ||
| Q3 24 | 0.1% | 3.8% | ||
| Q2 24 | 0.0% | 4.0% | ||
| Q1 24 | 0.5% | 3.2% |
| Q4 25 | 5.82× | 0.24× | ||
| Q3 25 | -3.86× | 3.04× | ||
| Q2 25 | -21.43× | 1.69× | ||
| Q1 25 | — | -0.07× | ||
| Q4 24 | — | 1.04× | ||
| Q3 24 | — | 3.58× | ||
| Q2 24 | — | 2.01× | ||
| Q1 24 | — | -0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
UTI
| UTI | $142.8M | 65% |
| Concorde | $78.0M | 35% |
