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Side-by-side financial comparison of BLACKLINE, INC. (BL) and Wheels Up Experience Inc. (UP). Click either name above to swap in a different company.
Wheels Up Experience Inc. is the larger business by last-quarter revenue ($183.8M vs $183.2M, roughly 1.0× BLACKLINE, INC.). BLACKLINE, INC. runs the higher net margin — 2.7% vs -15.7%, a 18.4% gap on every dollar of revenue. On growth, BLACKLINE, INC. posted the faster year-over-year revenue change (8.1% vs -10.2%). BLACKLINE, INC. produced more free cash flow last quarter ($26.1M vs $-58.3M). Over the past eight quarters, BLACKLINE, INC.'s revenue compounded faster (7.9% CAGR vs -3.4%).
BlackLine Systems, Inc., is an American enterprise software company that develops cloud-based services designed to automate and manage the entire financial close process as well as consolidation, invoice-to-cash, and intercompany accounting. The Los Angeles–based company has 17 offices worldwide.
Wheels Up is a provider of "on demand" private aviation in the United States and one of the largest private aviation companies in the world. It was founded in 2013 by Kenny Dichter, using a membership/on-demand business model. Wheels Up members can book private aircraft from the company fleet and third-party operators using a mobile application.
BL vs UP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $183.8M |
| Net Profit | $4.9M | $-28.9M |
| Gross Margin | 75.2% | 14.3% |
| Operating Margin | 3.7% | -0.9% |
| Net Margin | 2.7% | -15.7% |
| Revenue YoY | 8.1% | -10.2% |
| Net Profit YoY | -91.3% | 67.0% |
| EPS (diluted) | $0.07 | $-0.04 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $183.2M | $183.8M | ||
| Q3 25 | $178.3M | $185.5M | ||
| Q2 25 | $172.0M | $189.6M | ||
| Q1 25 | $166.9M | $177.5M | ||
| Q4 24 | $169.5M | $204.8M | ||
| Q3 24 | $165.9M | $193.9M | ||
| Q2 24 | $160.5M | $196.3M | ||
| Q1 24 | $157.5M | $197.1M |
| Q4 25 | $4.9M | $-28.9M | ||
| Q3 25 | $5.3M | $-83.7M | ||
| Q2 25 | $8.3M | $-82.3M | ||
| Q1 25 | $6.1M | $-99.3M | ||
| Q4 24 | $56.4M | $-87.5M | ||
| Q3 24 | $17.2M | $-57.7M | ||
| Q2 24 | $76.7M | $-97.0M | ||
| Q1 24 | $10.8M | $-97.4M |
| Q4 25 | 75.2% | 14.3% | ||
| Q3 25 | 75.1% | 6.8% | ||
| Q2 25 | 75.2% | 8.3% | ||
| Q1 25 | 75.5% | 10.8% | ||
| Q4 24 | 75.6% | 13.9% | ||
| Q3 24 | 75.2% | 13.9% | ||
| Q2 24 | 74.9% | 2.3% | ||
| Q1 24 | 75.2% | -0.6% |
| Q4 25 | 3.7% | -0.9% | ||
| Q3 25 | 4.3% | -33.1% | ||
| Q2 25 | 4.4% | -31.4% | ||
| Q1 25 | 2.1% | -45.5% | ||
| Q4 24 | 3.7% | -26.0% | ||
| Q3 24 | 5.0% | -21.6% | ||
| Q2 24 | 1.4% | -40.3% | ||
| Q1 24 | 1.1% | -42.9% |
| Q4 25 | 2.7% | -15.7% | ||
| Q3 25 | 3.0% | -45.1% | ||
| Q2 25 | 4.8% | -43.4% | ||
| Q1 25 | 3.6% | -55.9% | ||
| Q4 24 | 33.3% | -42.7% | ||
| Q3 24 | 10.4% | -29.8% | ||
| Q2 24 | 47.8% | -49.4% | ||
| Q1 24 | 6.9% | -49.4% |
| Q4 25 | $0.07 | $-0.04 | ||
| Q3 25 | $0.09 | $-0.12 | ||
| Q2 25 | $0.13 | $-0.12 | ||
| Q1 25 | $0.10 | $-0.14 | ||
| Q4 24 | $0.79 | $-0.13 | ||
| Q3 24 | $0.27 | $-0.08 | ||
| Q2 24 | $0.22 | $-0.14 | ||
| Q1 24 | $0.17 | $-0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $390.0M | $133.9M |
| Total DebtLower is stronger | — | $671.3M |
| Stockholders' EquityBook value | $332.3M | $-392.1M |
| Total Assets | $1.8B | $968.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $390.0M | $133.9M | ||
| Q3 25 | $419.9M | $125.3M | ||
| Q2 25 | $459.1M | $107.0M | ||
| Q1 25 | $479.5M | $171.8M | ||
| Q4 24 | $885.9M | $216.4M | ||
| Q3 24 | $725.3M | $115.9M | ||
| Q2 24 | $616.6M | $141.5M | ||
| Q1 24 | $331.4M | $180.9M |
| Q4 25 | — | $671.3M | ||
| Q3 25 | — | $766.5M | ||
| Q2 25 | — | $770.5M | ||
| Q1 25 | — | $765.8M | ||
| Q4 24 | — | $761.3M | ||
| Q3 24 | — | $596.9M | ||
| Q2 24 | — | $597.4M | ||
| Q1 24 | — | $603.2M |
| Q4 25 | $332.3M | $-392.1M | ||
| Q3 25 | $328.3M | $-374.5M | ||
| Q2 25 | $414.0M | $-347.8M | ||
| Q1 25 | $417.9M | $-288.1M | ||
| Q4 24 | $446.7M | $-202.1M | ||
| Q3 24 | $367.9M | $-117.7M | ||
| Q2 24 | $325.8M | $-72.2M | ||
| Q1 24 | $279.8M | $936.0K |
| Q4 25 | $1.8B | $968.8M | ||
| Q3 25 | $1.7B | $973.0M | ||
| Q2 25 | $1.8B | $1.0B | ||
| Q1 25 | $1.8B | $1.1B | ||
| Q4 24 | $1.8B | $1.2B | ||
| Q3 24 | $1.7B | $1.0B | ||
| Q2 24 | $1.9B | $1.1B | ||
| Q1 24 | $2.1B | $1.2B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 644.43× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $26.7M | $-18.4M |
| Free Cash FlowOCF − Capex | $26.1M | $-58.3M |
| FCF MarginFCF / Revenue | 14.2% | -31.7% |
| Capex IntensityCapex / Revenue | 0.3% | 21.7% |
| Cash ConversionOCF / Net Profit | 5.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | $-259.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | $-18.4M | ||
| Q3 25 | $63.8M | $-37.1M | ||
| Q2 25 | $32.3M | $-62.9M | ||
| Q1 25 | $46.7M | $-47.9M | ||
| Q4 24 | $43.8M | $37.9M | ||
| Q3 24 | $55.9M | $-16.9M | ||
| Q2 24 | $40.7M | $-25.2M | ||
| Q1 24 | $50.4M | $-73.8M |
| Q4 25 | $26.1M | $-58.3M | ||
| Q3 25 | $63.3M | $-60.4M | ||
| Q2 25 | $31.4M | $-78.6M | ||
| Q1 25 | $40.8M | $-62.6M | ||
| Q4 24 | $43.0M | $-70.2M | ||
| Q3 24 | $55.5M | $-21.9M | ||
| Q2 24 | $40.0M | $-30.8M | ||
| Q1 24 | $50.1M | $-77.8M |
| Q4 25 | 14.2% | -31.7% | ||
| Q3 25 | 35.5% | -32.6% | ||
| Q2 25 | 18.2% | -41.5% | ||
| Q1 25 | 24.4% | -35.3% | ||
| Q4 24 | 25.4% | -34.3% | ||
| Q3 24 | 33.5% | -11.3% | ||
| Q2 24 | 24.9% | -15.7% | ||
| Q1 24 | 31.8% | -39.5% |
| Q4 25 | 0.3% | 21.7% | ||
| Q3 25 | 0.3% | 12.5% | ||
| Q2 25 | 0.6% | 8.3% | ||
| Q1 25 | 3.6% | 8.3% | ||
| Q4 24 | 0.4% | 52.8% | ||
| Q3 24 | 0.2% | 2.6% | ||
| Q2 24 | 0.4% | 2.9% | ||
| Q1 24 | 0.2% | 2.0% |
| Q4 25 | 5.46× | — | ||
| Q3 25 | 12.07× | — | ||
| Q2 25 | 3.90× | — | ||
| Q1 25 | 7.72× | — | ||
| Q4 24 | 0.78× | — | ||
| Q3 24 | 3.24× | — | ||
| Q2 24 | 0.53× | — | ||
| Q1 24 | 4.66× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BL
| Subscription And Circulation | $173.2M | 95% |
| Technology Service | $10.0M | 5% |
UP
Segment breakdown not available.
