Filing Flows › Upstream Bio (UPB) › Q1 2026 › vs Q4 2025
Upstream Bio (UPB) Q1 2026 vs Q4 2025 (quarter over quarter)
Upstream Bio's revenue rose $366K (+55%) from $668K in Q4 2025 to $1.0M in Q1 2026.
Upstream Bio, Q1 2026: revenue $1.0M (+83% year over year), net loss $40.6M, operating cash flow −$47.9M. The chart draws each line against Q4 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $1.0M | $668K | $366K | +55% |
| Other income, net | $3.0M | $3.7M | −$684K | -18% |
| Net loss | $40.6M | $42.5M | −$1.9M | -4% |
| Costs & expenses | $44.6M | $46.8M | −$2.2M | -5% |
| Operating costs | $44.6M | $46.8M | −$2.2M | -5% |
| Research & development | $36.6M | $40.2M | −$3.6M | -9% |
| General & admin | $8.1M | $6.7M | $1.4M | +21% |
| Operating cash sources | $52.5M | $33.2M | $19.4M | +58% |
| Depreciation & amortization | $49K | $57K | −$8K | -14% |
| Share-based compensation | $4.6M | $2.5M | $2.1M | +85% |
| Cash used in operations | $47.9M | $30.6M | $17.2M | +56% |
| Net loss absorbed | $40.6M | $42.5M | −$1.9M | -4% |
| Working capital & other | $12.0M | −$9.3M | $21.2M | — |
Questions
How much did Upstream Bio's revenue grow quarter over quarter in Q1 2026?
Upstream Bio's revenue rose $366K (+55%) from $668K in Q4 2025 to $1.0M in Q1 2026.