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Side-by-side financial comparison of BRC Inc. (BRCC) and Energy Recovery, Inc. (ERII). Click either name above to swap in a different company.
BRC Inc. is the larger business by last-quarter revenue ($112.7M vs $66.9M, roughly 1.7× Energy Recovery, Inc.). Energy Recovery, Inc. runs the higher net margin — 40.2% vs -2.8%, a 43.1% gap on every dollar of revenue. On growth, BRC Inc. posted the faster year-over-year revenue change (6.5% vs -0.3%). Energy Recovery, Inc. produced more free cash flow last quarter ($6.4M vs $-9.4M). Over the past eight quarters, Energy Recovery, Inc.'s revenue compounded faster (8.1% CAGR vs 7.0%).
BRC Inc., operating under the Black Rifle Coffee brand, is a U.S.-headquartered premium coffee and lifestyle brand. It sells roasted coffee beans, ready-to-drink coffee products, branded apparel, and outdoor gear, targeting primarily veteran, first responder, and outdoor enthusiast consumer segments across North America, via both e-commerce and physical retail channels.
Energy Recovery Inc. is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.
BRCC vs ERII — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $112.7M | $66.9M |
| Net Profit | $-3.2M | $26.9M |
| Gross Margin | 32.1% | 67.2% |
| Operating Margin | -6.3% | 46.8% |
| Net Margin | -2.8% | 40.2% |
| Revenue YoY | 6.5% | -0.3% |
| Net Profit YoY | -29.3% | 14.7% |
| EPS (diluted) | $-0.02 | $0.49 |
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 | $112.7M | $66.9M | ||
| Q3 25 | $100.7M | $32.0M | ||
| Q2 25 | $94.8M | $28.1M | ||
| Q1 25 | $90.0M | — | ||
| Q4 24 | $105.9M | $67.1M | ||
| Q3 24 | $98.2M | $38.6M | ||
| Q2 24 | $89.0M | $27.2M | ||
| Q1 24 | $98.4M | $12.1M |
| Q4 25 | $-3.2M | $26.9M | ||
| Q3 25 | $-486.0K | $3.9M | ||
| Q2 25 | $-5.3M | $2.1M | ||
| Q1 25 | $-2.9M | — | ||
| Q4 24 | $-2.5M | $23.5M | ||
| Q3 24 | $-535.0K | $8.5M | ||
| Q2 24 | $-482.0K | $-642.0K | ||
| Q1 24 | $548.0K | $-8.3M |
| Q4 25 | 32.1% | 67.2% | ||
| Q3 25 | 36.9% | 64.2% | ||
| Q2 25 | 33.9% | 64.0% | ||
| Q1 25 | 36.1% | — | ||
| Q4 24 | 38.1% | 70.2% | ||
| Q3 24 | 42.1% | 65.1% | ||
| Q2 24 | 41.9% | 64.6% | ||
| Q1 24 | 42.9% | 59.0% |
| Q4 25 | -6.3% | 46.8% | ||
| Q3 25 | 0.5% | 11.4% | ||
| Q2 25 | -13.3% | 5.3% | ||
| Q1 25 | -6.0% | — | ||
| Q4 24 | -2.1% | 38.2% | ||
| Q3 24 | 1.1% | 18.3% | ||
| Q2 24 | 1.1% | -7.4% | ||
| Q1 24 | 4.0% | -90.4% |
| Q4 25 | -2.8% | 40.2% | ||
| Q3 25 | -0.5% | 12.1% | ||
| Q2 25 | -5.6% | 7.3% | ||
| Q1 25 | -3.2% | — | ||
| Q4 24 | -2.3% | 35.0% | ||
| Q3 24 | -0.5% | 22.0% | ||
| Q2 24 | -0.5% | -2.4% | ||
| Q1 24 | 0.6% | -68.3% |
| Q4 25 | $-0.02 | $0.49 | ||
| Q3 25 | $0.00 | $0.07 | ||
| Q2 25 | $-0.07 | $0.04 | ||
| Q1 25 | $-0.04 | — | ||
| Q4 24 | $-0.03 | $0.40 | ||
| Q3 24 | $-0.01 | $0.15 | ||
| Q2 24 | $-0.01 | $-0.01 | ||
| Q1 24 | $0.01 | $-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 | $4.3M | $75.2M |
| Total DebtLower is stronger | $34.7M | — |
| Stockholders' EquityBook value | $45.7M | $206.2M |
| Total Assets | $209.2M | $231.5M |
| Debt / EquityLower = less leverage | 0.76× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.3M | $75.2M | ||
| Q3 25 | $9.5M | $70.4M | ||
| Q2 25 | $4.3M | $79.5M | ||
| Q1 25 | $3.9M | — | ||
| Q4 24 | $6.8M | $78.0M | ||
| Q3 24 | $7.3M | $118.6M | ||
| Q2 24 | $9.6M | $101.0M | ||
| Q1 24 | $4.0M | $117.4M |
| Q4 25 | $34.7M | — | ||
| Q3 25 | $35.0M | — | ||
| Q2 25 | $72.7M | — | ||
| Q1 25 | $68.8M | — | ||
| Q4 24 | $65.1M | — | ||
| Q3 24 | $64.9M | — | ||
| Q2 24 | $66.5M | — | ||
| Q1 24 | $61.5M | — |
| Q4 25 | $45.7M | $206.2M | ||
| Q3 25 | $48.0M | $180.8M | ||
| Q2 25 | $10.1M | $185.2M | ||
| Q1 25 | $11.2M | — | ||
| Q4 24 | $13.2M | $210.0M | ||
| Q3 24 | $14.5M | $233.9M | ||
| Q2 24 | $14.9M | $218.5M | ||
| Q1 24 | $14.6M | $216.0M |
| Q4 25 | $209.2M | $231.5M | ||
| Q3 25 | $222.4M | $209.6M | ||
| Q2 25 | $225.3M | $212.3M | ||
| Q1 25 | $222.9M | — | ||
| Q4 24 | $227.4M | $242.8M | ||
| Q3 24 | $233.7M | $262.7M | ||
| Q2 24 | $229.9M | $249.0M | ||
| Q1 24 | $227.2M | $244.3M |
| Q4 25 | 0.76× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 7.19× | — | ||
| Q1 25 | 6.15× | — | ||
| Q4 24 | 4.94× | — | ||
| Q3 24 | 4.47× | — | ||
| Q2 24 | 4.46× | — | ||
| Q1 24 | 4.21× | — |
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 | $-8.7M | $7.1M |
| Free Cash FlowOCF − Capex | $-9.4M | $6.4M |
| FCF MarginFCF / Revenue | -8.3% | 9.6% |
| Capex IntensityCapex / Revenue | 0.6% | 1.0% |
| Cash ConversionOCF / Net Profit | — | 0.26× |
| TTM Free Cash FlowTrailing 4 quarters | $-13.5M | $15.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.7M | $7.1M | ||
| Q3 25 | $6.4M | $-3.1M | ||
| Q2 25 | $-3.3M | $4.1M | ||
| Q1 25 | $-4.1M | — | ||
| Q4 24 | $2.2M | $9.0M | ||
| Q3 24 | $1.9M | $-3.0M | ||
| Q2 24 | $2.3M | $8.1M | ||
| Q1 24 | $4.9M | $6.5M |
| Q4 25 | $-9.4M | $6.4M | ||
| Q3 25 | $5.6M | $-3.5M | ||
| Q2 25 | $-4.3M | $4.0M | ||
| Q1 25 | $-5.3M | — | ||
| Q4 24 | $504.0K | $8.9M | ||
| Q3 24 | $-205.0K | $-3.2M | ||
| Q2 24 | $147.0K | $7.9M | ||
| Q1 24 | $2.2M | $5.7M |
| Q4 25 | -8.3% | 9.6% | ||
| Q3 25 | 5.5% | -10.9% | ||
| Q2 25 | -4.5% | 14.3% | ||
| Q1 25 | -5.9% | — | ||
| Q4 24 | 0.5% | 13.2% | ||
| Q3 24 | -0.2% | -8.2% | ||
| Q2 24 | 0.2% | 28.9% | ||
| Q1 24 | 2.2% | 46.9% |
| Q4 25 | 0.6% | 1.0% | ||
| Q3 25 | 0.8% | 1.1% | ||
| Q2 25 | 1.0% | 0.5% | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 1.6% | 0.2% | ||
| Q3 24 | 2.2% | 0.4% | ||
| Q2 24 | 2.4% | 0.7% | ||
| Q1 24 | 2.8% | 6.8% |
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | -0.81× | ||
| Q2 25 | — | 2.02× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.38× | ||
| Q3 24 | — | -0.35× | ||
| Q2 24 | — | — | ||
| Q1 24 | 8.97× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BRCC
| Sales Channel Through Intermediary | $72.9M | 65% |
| Sales Channel Directly To Consumer | $34.4M | 31% |
| Outpost | $5.4M | 5% |
ERII
| Water Segment | $38.6M | 58% |
| Other | $11.0M | 16% |
| Original Equipment Manufacturer | $10.6M | 16% |
| Aftermarket | $6.6M | 10% |
