Upstream Bio, Inc. (UPB)

Upstream Bio Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023
Net Income	-104.47	-62.81	-20.54
Depreciation & Amortization	0.15	0.09	0.06
Stock-Based Compensation	9.18	6	3.43
Other Adjustments	-2.2	-4.33	-16.57
Change in Receivables	-0.43	-0.52	0.31
Changes in Accounts Payable	-2.5	2.02	1.28
Changes in Accrued Expenses	3.69	1.51	0.42
Changes in Other Operating Activities	-17.4	-1.14	-6.32
Operating Cash Flow	-113.98	-59.17	-37.93
Capital Expenditures	-	-0.51	-0.14
Purchases of Investments	-438.75	-290.61	-128.99
Proceeds from Sale of Investments	282.02	231.64	46.29
Investing Cash Flow	-157.29	-59.49	-82.84
Issuance of Common Stock	0.66	272.88	0.12
Net Common Stock Issued (Repurchased)	0.66	272.88	0.12
Issuance of Preferred Stock	-	149.92	129.43
Net Preferred Stock Issued (Repurchased)	-	149.92	129.43
Other Financing Activities	-	-3.9	-
Financing Cash Flow	269.59	418.91	129.55
Net Cash Flow	-1.68	300.25	8.78
Beginning Cash & Cash Equivalents	47.34	25.83	17.05
Ending Cash & Cash Equivalents	45.65	326.09	25.83
Free Cash Flow	-113.98	-59.68	-38.07
FCF Margin	-4185.75%	-2518.27%	-1599.58%
Free Cash Flow Per Share	-2.92	-4.36	-12.89
Levered Free Cash Flow	-126.12	-74.43	-42.96
Unlevered Free Cash Flow	-137.63	-75.8	-44.82

Updated Aug 6, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q