# Upstream Bio, Inc.: financial statements, quarterly

UPB · Nasdaq · CIK 2022626 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/upb.md) · [Financials](/companies/upb/financials.md) · [Filings](/companies/upb/filings.md) · [Insiders](/companies/upb/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/upb/financials.md?period=annual).

## Income statement

| Line item | Unit | period not labelled (2023-09-30) | period not labelled (2023-12-31) | period not labelled (2024-03-31) | period not labelled (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [0.6](/filings/0000950170-24-122793.md) | [0.5 d](/filings/0000950170-25-037621.md) | [0.6](/filings/0000950170-25-063957.md) | [0.5](/filings/0000950170-25-103534.md) | [0.6](/filings/0001193125-25-265713.md) | [0.6 d](/filings/0001193125-26-126188.md) | [0.6](/filings/0001193125-26-220584.md) | [0.9](/filings/0001193125-26-343417.md) | [0.7](/filings/0001193125-25-265713.md) | [0.7 d](/filings/0001193125-26-126188.md) | [1.0](/filings/0001193125-26-220584.md) | [0.8](/filings/0001193125-26-343417.md) |
| Research and development | $m | [7.8](/filings/0000950170-24-122793.md) | [11.6 d](/filings/0000950170-25-037621.md) | [11.7](/filings/0000950170-25-063957.md) | [14.1](/filings/0000950170-25-103534.md) | [15.4](/filings/0001193125-25-265713.md) | [21.8 d](/filings/0001193125-26-126188.md) | [25.8](/filings/0001193125-26-220584.md) | [37.9](/filings/0001193125-26-343417.md) | [33.0](/filings/0001193125-25-265713.md) | [40.2 d](/filings/0001193125-26-126188.md) | [36.6](/filings/0001193125-26-220584.md) | [36.1](/filings/0001193125-26-343417.md) |
| Operating income | $m | [(9.4)](/filings/0000950170-24-122793.md) | [(14.3) d](/filings/0000950170-25-037621.md) | [(15.0)](/filings/0000950170-25-063957.md) | [(17.5)](/filings/0000950170-25-103534.md) | [(18.9)](/filings/0001193125-25-265713.md) | [(26.3) d](/filings/0001193125-26-126188.md) | [(32.0)](/filings/0001193125-26-220584.md) | [(44.3)](/filings/0001193125-26-343417.md) | [(37.8)](/filings/0001193125-25-265713.md) | [(46.2) d](/filings/0001193125-26-126188.md) | [(43.6)](/filings/0001193125-26-220584.md) | [(42.4)](/filings/0001193125-26-343417.md) |
| Income tax | $m | not reported | [0.0 d](/filings/0000950170-25-037621.md) | [0.0](/filings/0000950170-25-063957.md) | [0.0 d](/filings/0000950170-25-103534.md) | [0.0 d](/filings/0001193125-25-265713.md) | [0.0 d](/filings/0001193125-26-126188.md) | [0.0](/filings/0001193125-26-220584.md) | [0.0 d](/filings/0001193125-26-343417.md) | [0.0 d](/filings/0001193125-25-265713.md) | [0.0 d](/filings/0001193125-26-126188.md) | [0.0](/filings/0001193125-26-220584.md) | [0.0 d](/filings/0001193125-26-343417.md) |
| Net income | $m | [(3.1)](/filings/0000950170-24-122793.md) | [(11.8) d](/filings/0000950170-25-037621.md) | [(10.9)](/filings/0001193125-25-265713.md) | [(14.7)](/filings/0001193125-25-265713.md) | [(16.0)](/filings/0001193125-25-265713.md) | [(21.2) d](/filings/0001193125-26-126188.md) | [(27.3)](/filings/0001193125-26-343417.md) | [(40.0)](/filings/0001193125-26-343417.md) | [(33.7)](/filings/0001193125-25-265713.md) | [(42.5) d](/filings/0001193125-26-126188.md) | [(40.6)](/filings/0001193125-26-343417.md) | [(39.7)](/filings/0001193125-26-343417.md) |
| Diluted EPS | $ per share | [(2.11)](/filings/0000950170-24-122793.md) | not reported | [(4.68)](/filings/0000950170-25-063957.md) | [(6.50)](/filings/0000950170-25-103534.md) | [(6.96)](/filings/0001193125-25-265713.md) | not reported | [(0.51)](/filings/0001193125-26-220584.md) | [(0.74)](/filings/0001193125-26-343417.md) | [(0.63)](/filings/0001193125-25-265713.md) | not reported | [(0.75)](/filings/0001193125-26-220584.md) | [(0.73)](/filings/0001193125-26-343417.md) |
| Basic EPS | $ per share | [(2.11)](/filings/0000950170-24-122793.md) | not reported | [(4.68)](/filings/0000950170-25-063957.md) | [(6.50)](/filings/0000950170-25-103534.md) | [(6.96)](/filings/0001193125-25-265713.md) | not reported | [(0.51)](/filings/0001193125-26-220584.md) | [(0.74)](/filings/0001193125-26-343417.md) | [(0.63)](/filings/0001193125-25-265713.md) | not reported | [(0.75)](/filings/0001193125-26-220584.md) | [(0.73)](/filings/0001193125-26-343417.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | period not labelled (2023-09-30) | period not labelled (2023-12-31) | period not labelled (2024-03-31) | period not labelled (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [47.3](/filings/0000950170-24-122793.md) | [25.8](/filings/0000950170-25-037621.md) | [31.5](/filings/0000950170-25-063957.md) | [47.3](/filings/0000950170-25-103534.md) | [32.9](/filings/0001193125-25-265713.md) | [326](/filings/0001193125-26-126188.md) | [71.3](/filings/0001193125-26-220584.md) | [45.5](/filings/0001193125-26-343417.md) | [72.2](/filings/0001193125-25-265713.md) | [102](/filings/0001193125-26-343417.md) | [96.7](/filings/0001193125-26-220584.md) | [79.4](/filings/0001193125-26-343417.md) |
| Current assets | $m | not reported | [117](/filings/0000950170-25-037621.md) | not reported | not reported | [227](/filings/0000950170-24-122793.md) | [479](/filings/0001193125-26-126188.md) | [454](/filings/0000950170-25-063957.md) | [418](/filings/0000950170-25-103534.md) | [389](/filings/0001193125-25-265713.md) | [352](/filings/0001193125-26-343417.md) | [316](/filings/0001193125-26-220584.md) | [280](/filings/0001193125-26-343417.md) |
| Total assets | $m | not reported | [117](/filings/0000950170-25-037621.md) | not reported | not reported | [233](/filings/0000950170-24-122793.md) | [482](/filings/0001193125-26-126188.md) | [456](/filings/0000950170-25-063957.md) | [421](/filings/0000950170-25-103534.md) | [391](/filings/0001193125-25-265713.md) | [354](/filings/0001193125-26-343417.md) | [318](/filings/0001193125-26-220584.md) | [281](/filings/0001193125-26-343417.md) |
| Current liabilities | $m | not reported | [6.5](/filings/0000950170-25-037621.md) | not reported | not reported | [10.9](/filings/0000950170-24-122793.md) | [10.7](/filings/0001193125-26-126188.md) | [9.6](/filings/0000950170-25-063957.md) | [10.9](/filings/0000950170-25-103534.md) | [11.9](/filings/0001193125-25-265713.md) | [13.5](/filings/0001193125-26-343417.md) | [13.7](/filings/0001193125-26-220584.md) | [10.0](/filings/0001193125-26-343417.md) |
| Total liabilities | $m | not reported | [9.4](/filings/0000950170-25-037621.md) | not reported | not reported | [12.1](/filings/0000950170-24-122793.md) | [11.9](/filings/0001193125-26-126188.md) | [10.6](/filings/0000950170-25-063957.md) | [11.8](/filings/0000950170-25-103534.md) | [12.6](/filings/0001193125-25-265713.md) | [14.0](/filings/0001193125-26-343417.md) | [14.1](/filings/0001193125-26-220584.md) | [10.2](/filings/0001193125-26-343417.md) |
| Shareholders' equity | $m | [(112)](/filings/0000950170-24-122793.md) | [(123)](/filings/0001193125-26-126188.md) | [(133)](/filings/0001193125-25-265713.md) | [(147)](/filings/0001193125-25-265713.md) | [(160)](/filings/0001193125-25-265713.md) | [470](/filings/0001193125-26-343417.md) | [446](/filings/0001193125-26-343417.md) | [409](/filings/0001193125-26-343417.md) | [379](/filings/0001193125-25-265713.md) | [340](/filings/0001193125-26-343417.md) | [304](/filings/0001193125-26-343417.md) | [271](/filings/0001193125-26-343417.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | period not labelled (2023-12-31) | period not labelled (2024-03-31) | period not labelled (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [(16.1) d](/filings/0000950170-25-037621.md) | [(17.6)](/filings/0000950170-25-063957.md) | [(8.0) d](/filings/0000950170-25-103534.md) | [(14.0) d](/filings/0001193125-25-265713.md) | [(19.6) d](/filings/0001193125-26-126188.md) | [(41.2)](/filings/0001193125-26-220584.md) | [(39.2) d](/filings/0001193125-26-343417.md) | [(22.2) d](/filings/0001193125-25-265713.md) | [(30.6) d](/filings/0001193125-26-126188.md) | [(47.9)](/filings/0001193125-26-220584.md) | [(35.6) d](/filings/0001193125-26-343417.md) |
| Capital expenditure | $m | [0.0 d](/filings/0000950170-25-037621.md) | not reported | not reported | not reported | [0.2 d](/filings/0001193125-26-126188.md) | not reported | not reported | [0.1 d](/filings/0001193125-25-265713.md) | [0.1 d](/filings/0001193125-26-126188.md) | not reported | not reported |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment

## Shares

| Line item | Unit | period not labelled (2023-09-30) | period not labelled (2024-03-31) | period not labelled (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [3.0](/filings/0000950170-24-122793.md) | [3.0](/filings/0000950170-25-063957.md) | [3.0](/filings/0000950170-25-103534.md) | [3.0](/filings/0001193125-25-265713.md) | [53.6](/filings/0001193125-26-220584.md) | [53.8](/filings/0001193125-26-343417.md) | [53.9](/filings/0001193125-25-265713.md) | [54.3](/filings/0001193125-26-220584.md) | [54.6](/filings/0001193125-26-343417.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 54,771,041 at 2026-08-04, from the cover of the [10-Q filed 2026-08-11](/filings/0001193125-26-343417.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:50 ET. No prices; not investment advice.