Upstream Bio, Inc. (UPB)

Upstream Bio Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Revenue	2.72	2.37	2.38	1.21
Revenue Growth (YoY)	22.60%	-0.42%	96.37%	-
Gross Profit	2.72	2.37	2.38	1.21
Selling, General & Admin	23.43	17.17	10.7	6.46
Research & Development	100.87	62.97	31.8	18.66
Operating Expenses	124.29	80.13	42.49	25.12
Operating Income	-121.57	-77.76	-40.11	-23.91
Interest & Investment Income	17.15	12.12	4.17	0.21
Other Non Operating Income (Expenses)	-0.05	2.84	15.41	-0.16
Pretax Income	-104.47	-62.81	-20.54	-23.87
Net Income	-104.47	-62.81	-20.54	-23.87
Preferred Dividends & Other Adjustments	5.59	13.59	17.72	-
Net Income to Common	-110.06	-76.4	-38.26	-23.87
Shares Outstanding (Basic)	39	14	3	3
Shares Outstanding (Diluted)	39	14	3	3
Shares Change (YoY)	1177.72%	363.22%	5.49%	-
EPS (Basic)	-2.82	-5.58	-12.95	-8.52
EPS (Diluted)	-2.82	-5.58	-12.95	-8.52
Free Cash Flow	-114.54	-59.68	-38.07	-19.1
Free Cash Flow Per Share	-2.94	-4.36	-12.89	-6.82
Gross Margin	100.00%	100.00%	100.00%	100.00%
Operating Margin	-4464.60%	-3281.18%	-1685.46%	-1972.69%
Profit Margin	-4041.83%	-3223.42%	-1607.35%	-1969.31%
Free Cash Flow Margin	-4206.24%	-2518.27%	-1599.58%	-1576.15%
EBITDA	-121.42	-77.68	-40.05	-23.9
D&A For EBITDA	0.15	0.09	0.06	0.01
EBIT	-121.57	-77.76	-40.11	-23.91

Updated Aug 6, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q