Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $2.38M | $2.37M | $2.85M |
| Revenue growth | — | -0.4% | 20.4% |
| Operating income | -$40.1M | -$77.8M | -$160M |
| Operating margin | -1685.5% | -3281.2% | -5618.8% |
| Net income | -$20.5M | -$62.8M | -$143M |
| Net margin | -862.9% | -2650.0% | -5026.0% |
| EPS (diluted) | -$12.95 | -$5.58 | -$2.66 |
| Fiscal year | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Operating cash flow | -$37.9M | -$59.2M | -$133M |
| Capital expenditures | $144K | $511K | $165K |
| Free cash flow | -$38.1M | -$59.7M | -$133M |
| Fiscal year | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Cash & equivalents | $25.8M | $326M | $102M |
| Total assets | $117M | $482M | $354M |
| Total liabilities | $9.39M | $11.9M | $14.0M |
| Shareholders' equity | -$123M | $470M | $340M |
| Retained earnings | -$128M | -$191M | -$334M |
| Shares (wtd avg diluted) | 2.95M | 13.7M | 53.9M |
Every figure is extracted from Upstream Bio, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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