Upay Inc Financials
This page shows Upay Inc (UPYY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Upay Inc has an operating margin of -71.1%, meaning the company retains $-71 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -48.9% the prior year.
Upay Inc's revenue declined 48.7% year-over-year, from $1.4M to $715K. This contraction results in a growth score of 0/100.
Upay Inc's current ratio of 0.28 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 0/100, which could limit financial flexibility.
While Upay Inc generated -$765K in operating cash flow, capex of $0 consumed most of it, leaving -$765K in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Upay Inc passes 2 of 9 financial strength tests. No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Upay Inc generates $1.42 in operating cash flow (-$765K OCF vs -$540K net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Upay Inc earns $-14.7 in operating income for every $1 of interest expense (-$509K vs $35K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Upay Inc generated $715K in revenue in fiscal year 2025. This represents a decrease of 48.7% from the prior year.
Upay Inc's EBITDA was -$501K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 24.4% from the prior year.
Upay Inc reported -$540K in net income in fiscal year 2025. This represents an increase of 26.6% from the prior year.
Upay Inc earned $-0.03 per diluted share (EPS) in fiscal year 2025. This represents an increase of 25.0% from the prior year.
Cash & Balance Sheet
Upay Inc generated -$765K in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 350.6% from the prior year.
Upay Inc held $55K in cash against $0 in long-term debt as of fiscal year 2025.
Upay Inc had 17M shares outstanding in fiscal year 2025. This represents an increase of 5.6% from the prior year.
Margins & Returns
Upay Inc's gross margin was 62.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 9.4 percentage points from the prior year.
Upay Inc's operating margin was -71.1% in fiscal year 2025, reflecting core business profitability. This is down 22.2 percentage points from the prior year.
Upay Inc's net profit margin was -75.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 22.7 percentage points from the prior year.
Capital Allocation
Upay Inc spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
Upay Inc invested $0 in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.
UPYY Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $185K-2.3% | $189K+10.9% | $170K+22.1% | $140K-7.2% | $150K-10.5% | $168K-34.7% | $257K-22.8% | $333K |
| Cost of Revenue | $55K+20.7% | $45K+6.1% | $43K-0.5% | $43K-3.6% | $44K-10.1% | $49K-63.2% | $134K-22.9% | $174K |
| Gross Profit | $130K-9.5% | $144K+12.5% | $128K+32.1% | $97K-8.7% | $106K-10.7% | $119K-3.4% | $123K-22.8% | $159K |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $242K-2.2% | $247K-3.7% | $257K+104.1% | $126K-50.6% | $255K-15.3% | $301K+14.0% | $264K-24.0% | $348K |
| Operating Income | -$113K-7.7% | -$105K+19.4% | -$131K-337.8% | -$30K+80.2% | -$151K+18.1% | -$184K-27.9% | -$144K+24.3% | -$190K |
| Interest Expense | $13K-2.2% | $14K+17.1% | $12K+23.6% | $9K+8.9% | $9K+7.7% | $8K-5.9% | $9K+1.6% | $8K |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $34K |
| Net Income | -$1.0M-780.3% | -$117K+17.4% | -$142K-265.2% | -$39K+75.6% | -$159K+16.8% | -$191K-27.0% | -$151K+33.7% | -$227K |
| EPS (Diluted) | $-0.06-500.0% | $-0.010.0% | $-0.01 | N/A | $-0.010.0% | $-0.010.0% | $-0.01 | N/A |
UPYY Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $212K+22.3% | $173K-13.1% | $199K-14.9% | $234K+38.7% | $169K-18.3% | $207K-38.5% | $336K-56.4% | $770K |
| Current Assets | $137K+44.9% | $94K-18.4% | $116K-21.8% | $148K+8.7% | $136K-17.9% | $166K-43.1% | $291K-59.6% | $719K |
| Cash & Equivalents | $67K+89.8% | $36K-18.6% | $44K-21.2% | $55K+73.4% | $32K-73.8% | $122K-47.3% | $231K-64.0% | $643K |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $57K+38.7% | $41K+9.6% | $38K-5.3% | $40K+13.2% | $35K+14.7% | $31K-34.5% | $47K-36.4% | $73K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $698K-16.3% | $834K+7.5% | $776K+10.3% | $703K+33.6% | $526K+0.6% | $523K-20.1% | $655K-36.1% | $1.0M |
| Current Liabilities | $336K-33.3% | $504K+2.7% | $490K-8.2% | $534K+18.7% | $450K+0.7% | $447K-22.8% | $579K-39.0% | $949K |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$486K+26.4% | -$661K-14.6% | -$577K-23.0% | -$469K-31.1% | -$358K-12.9% | -$317K+0.8% | -$319K-25.2% | -$255K |
| Retained Earnings | -$3.5M-42.6% | -$2.4M-5.1% | -$2.3M-6.6% | -$2.2M-1.8% | -$2.1M-8.1% | -$2.0M-10.8% | -$1.8M-9.3% | -$1.6M |
UPYY Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$71K-21.5% | -$58K+55.5% | -$131K-467.2% | -$23K+74.6% | -$91K+59.8% | -$225K+47.1% | -$426K-128.2% | -$187K |
| Capital Expenditures | $12 | N/A | N/A | $0 | $0 | N/A | N/A | -$49 |
| Free Cash Flow | -$71K | N/A | N/A | -$23K+74.6% | -$91K | N/A | N/A | -$187K |
| Investing Cash Flow | -$12 | N/A | N/A | $0 | $0 | N/A | N/A | $48 |
| Financing Cash Flow | $100K+100.0% | $50K-58.3% | $120K+140.0% | $50K | $0-100.0% | $100K | $0-100.0% | $2 |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | $0 | N/A | N/A | N/A | $0 |
UPYY Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 70.5%-5.6pp | 76.1%+1.1pp | 75.0%+5.7pp | 69.3%-1.1pp | 70.5%-0.2pp | 70.6%+22.8pp | 47.8%+0.0pp | 47.8% |
| Operating Margin | -61.4%-5.7pp | -55.7%+20.9pp | -76.6%-55.3pp | -21.4%+78.9pp | -100.3%+9.3pp | -109.6%-53.6pp | -56.0%+1.1pp | -57.1% |
| Net Margin | -559.1%-497.1pp | -62.1%+21.3pp | -83.3%-55.5pp | -27.9%+78.0pp | -105.9%+8.0pp | -113.8%-55.3pp | -58.6%+9.6pp | -68.2% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -487.2%-419.5pp | -67.7%+3.6pp | -71.3%-54.7pp | -16.6%+77.7pp | -94.3%-1.7pp | -92.6%-47.8pp | -44.8%-15.3pp | -29.5% |
| Current Ratio | 0.41+0.2 | 0.19-0.0 | 0.24-0.0 | 0.28-0.0 | 0.30-0.1 | 0.37-0.1 | 0.50-0.3 | 0.76 |
| Debt-to-Equity | -1.44-0.2 | -1.26+0.1 | -1.35+0.2 | -1.50-0.0 | -1.47+0.2 | -1.65+0.4 | -2.05+2.0 | -4.02 |
| FCF Margin | -38.3% | N/A | N/A | -16.5%+43.7pp | -60.2% | N/A | N/A | -56.0% |
Note: Shareholder equity is negative (-$469K), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.28), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Upay Inc's annual revenue?
Upay Inc (UPYY) reported $715K in total revenue for fiscal year 2025. This represents a -48.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Upay Inc's revenue growing?
Upay Inc (UPYY) revenue declined by 48.7% year-over-year, from $1.4M to $715K in fiscal year 2025.
Is Upay Inc profitable?
No, Upay Inc (UPYY) reported a net income of -$540K in fiscal year 2025, with a net profit margin of -75.5%.
What is Upay Inc's EBITDA?
Upay Inc (UPYY) had EBITDA of -$501K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Upay Inc's gross margin?
Upay Inc (UPYY) had a gross margin of 62.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Upay Inc's operating margin?
Upay Inc (UPYY) had an operating margin of -71.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Upay Inc's net profit margin?
Upay Inc (UPYY) had a net profit margin of -75.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Upay Inc's free cash flow?
Upay Inc (UPYY) generated -$765K in free cash flow during fiscal year 2025. This represents a -350.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Upay Inc's operating cash flow?
Upay Inc (UPYY) generated -$765K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Upay Inc's total assets?
Upay Inc (UPYY) had $234K in total assets as of fiscal year 2025, including both current and long-term assets.
What are Upay Inc's capital expenditures?
Upay Inc (UPYY) invested $0 in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Upay Inc's current ratio?
Upay Inc (UPYY) had a current ratio of 0.28 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Upay Inc's debt-to-equity ratio?
Upay Inc (UPYY) had a debt-to-equity ratio of -1.50 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Upay Inc's return on assets (ROA)?
Upay Inc (UPYY) had a return on assets of -230.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Upay Inc's cash runway?
Based on fiscal year 2025 data, Upay Inc (UPYY) had $55K in cash against an annual operating cash burn of $765K. This gives an estimated cash runway of approximately 1 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Upay Inc's debt-to-equity ratio negative or unusual?
Upay Inc (UPYY) has negative shareholder equity of -$469K as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Upay Inc's Piotroski F-Score?
Upay Inc (UPYY) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Upay Inc's earnings high quality?
Upay Inc (UPYY) has an earnings quality ratio of 1.42x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Upay Inc cover its interest payments?
Upay Inc (UPYY) has an interest coverage ratio of -14.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Upay Inc?
Upay Inc (UPYY) scores 0 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.