What is Upstream Bio, Inc.'s operating margin?

Upstream Bio, Inc. (UPB) reported operating margin of -5,176.5% in Q1 2026.

How has Upstream Bio, Inc.'s operating margin changed year-over-year?

Upstream Bio, Inc.'s operating margin decreased by 25.4% year-over-year, from -4,127.4% to -5,176.5%.

What does operating margin mean?

Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

Upstream Bio, Inc. UPB Operating margin

Operating margin at other companies

AmgenAMGN

28.4%+6.6pp

Regeneron PharmaceuticalsREGN

24.3%-2.9pp

Aclaris TherapeuticsACRS

-961.9%+259pp

Shattuck Labs, Inc.STTK

-5,266.4%-9,520pp

AnaptysBio, Inc.ANAB

17.6%+9.6pp

Avalo TherapeuticsAVTX

-15,536.1%-17,275pp

Other financials

Income statement

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Revenue$1.0M+82.7%

Operating income-$43.6M-36.2%

Net income-$40.6M-48.8%

EPS (diluted)-$0.75-47.1%

Balance sheet

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Cash & equivalents$96.7M+35.6%

Total debt$1.1M-34.5%

Total equity$304.0M-31.8%

Total assets$318.1M-30.3%

Cash flow

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Operating cash flow-$47.9M-16.2%

CapEx$54.0K-70.8%

Free cash flow-$30.7M-55.0%

Valuation

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Market cap$346.11M-40.9%

Enterprise value$250.5M-51.4%

P/S104.2×-151×

Profitability

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Net margin-4,719%+2,752pp

Returns & leverage

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Return on equity-41.8%—

Debt / equity0×0.0×

Current ratio23.1×-24.3×

Where this comes from

Calculated from Upstream Bio, Inc.’s reported figures.

operating income/total revenue=-5,176.5%

Based on trailing twelve months.

The official record: Upstream Bio, Inc.’s 10-Q, filed May 13, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Upstream Bio, Inc.'s operating margin?: Upstream Bio, Inc. (UPB) reported operating margin of -5,176.5% in Q1 2026.
How has Upstream Bio, Inc.'s operating margin changed year-over-year?: Upstream Bio, Inc.'s operating margin decreased by 25.4% year-over-year, from -4,127.4% to -5,176.5%.
What does operating margin mean?: Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.