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Side-by-side financial comparison of BRC Inc. (BRCC) and FORRESTER RESEARCH, INC. (FORR). Click either name above to swap in a different company.
BRC Inc. is the larger business by last-quarter revenue ($112.7M vs $101.1M, roughly 1.1× FORRESTER RESEARCH, INC.). BRC Inc. runs the higher net margin — -2.8% vs -33.5%, a 30.7% gap on every dollar of revenue. On growth, BRC Inc. posted the faster year-over-year revenue change (6.5% vs -6.5%). FORRESTER RESEARCH, INC. produced more free cash flow last quarter ($-4.3M vs $-9.4M). Over the past eight quarters, BRC Inc.'s revenue compounded faster (7.0% CAGR vs 0.5%).
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.
Forrester Research, Inc. is a research and advisory firm working in research, consulting and events. Forrester’s clients include large global business, technology and consumer enterprises. The firm is headquartered in Cambridge, MA.
BRCC vs FORR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $112.7M | $101.1M |
| Net Profit | $-3.2M | $-33.9M |
| Gross Margin | 32.1% | 56.7% |
| Operating Margin | -6.3% | -36.6% |
| Net Margin | -2.8% | -33.5% |
| Revenue YoY | 6.5% | -6.5% |
| Net Profit YoY | -29.3% | -7941.4% |
| EPS (diluted) | $-0.02 | $-1.75 |
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 | $101.1M | ||
| Q3 25 | $100.7M | $94.3M | ||
| Q2 25 | $94.8M | $111.7M | ||
| Q1 25 | $90.0M | $89.9M | ||
| Q4 24 | $105.9M | $108.0M | ||
| Q3 24 | $98.2M | $102.5M | ||
| Q2 24 | $89.0M | $121.8M | ||
| Q1 24 | $98.4M | $100.1M |
| Q4 25 | $-3.2M | $-33.9M | ||
| Q3 25 | $-486.0K | $-2.1M | ||
| Q2 25 | $-5.3M | $3.9M | ||
| Q1 25 | $-2.9M | $-87.3M | ||
| Q4 24 | $-2.5M | $432.0K | ||
| Q3 24 | $-535.0K | $-5.8M | ||
| Q2 24 | $-482.0K | $6.3M | ||
| Q1 24 | $548.0K | $-6.7M |
| Q4 25 | 32.1% | 56.7% | ||
| Q3 25 | 36.9% | 60.0% | ||
| Q2 25 | 33.9% | 55.5% | ||
| Q1 25 | 36.1% | 55.9% | ||
| Q4 24 | 38.1% | 58.8% | ||
| Q3 24 | 42.1% | 60.5% | ||
| Q2 24 | 41.9% | 57.3% | ||
| Q1 24 | 42.9% | 54.9% |
| Q4 25 | -6.3% | -36.6% | ||
| Q3 25 | 0.5% | 4.7% | ||
| Q2 25 | -13.3% | 6.2% | ||
| Q1 25 | -6.0% | -97.5% | ||
| Q4 24 | -2.1% | -0.5% | ||
| Q3 24 | 1.1% | -0.7% | ||
| Q2 24 | 1.1% | 9.3% | ||
| Q1 24 | 4.0% | -9.3% |
| Q4 25 | -2.8% | -33.5% | ||
| Q3 25 | -0.5% | -2.3% | ||
| Q2 25 | -5.6% | 3.5% | ||
| Q1 25 | -3.2% | -97.1% | ||
| Q4 24 | -2.3% | 0.4% | ||
| Q3 24 | -0.5% | -5.7% | ||
| Q2 24 | -0.5% | 5.2% | ||
| Q1 24 | 0.6% | -6.7% |
| Q4 25 | $-0.02 | $-1.75 | ||
| Q3 25 | $0.00 | $-0.11 | ||
| Q2 25 | $-0.07 | $0.20 | ||
| Q1 25 | $-0.04 | $-4.62 | ||
| Q4 24 | $-0.03 | $0.02 | ||
| Q3 24 | $-0.01 | $-0.30 | ||
| Q2 24 | $-0.01 | $0.33 | ||
| Q1 24 | $0.01 | $-0.35 |
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 | $63.3M |
| Total DebtLower is stronger | $34.7M | — |
| Stockholders' EquityBook value | $45.7M | $126.5M |
| Total Assets | $209.2M | $404.0M |
| Debt / EquityLower = less leverage | 0.76× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.3M | $63.3M | ||
| Q3 25 | $9.5M | $65.1M | ||
| Q2 25 | $4.3M | $67.8M | ||
| Q1 25 | $3.9M | $75.6M | ||
| Q4 24 | $6.8M | $56.1M | ||
| Q3 24 | $7.3M | $62.8M | ||
| Q2 24 | $9.6M | $58.9M | ||
| Q1 24 | $4.0M | $61.4M |
| 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 | $126.5M | ||
| Q3 25 | $48.0M | $157.7M | ||
| Q2 25 | $10.1M | $159.5M | ||
| Q1 25 | $11.2M | $147.4M | ||
| Q4 24 | $13.2M | $229.5M | ||
| Q3 24 | $14.5M | $234.3M | ||
| Q2 24 | $14.9M | $237.1M | ||
| Q1 24 | $14.6M | $230.9M |
| Q4 25 | $209.2M | $404.0M | ||
| Q3 25 | $222.4M | $414.2M | ||
| Q2 25 | $225.3M | $436.0M | ||
| Q1 25 | $222.9M | $439.8M | ||
| Q4 24 | $227.4M | $503.9M | ||
| Q3 24 | $233.7M | $505.3M | ||
| Q2 24 | $229.9M | $524.2M | ||
| Q1 24 | $227.2M | $555.7M |
| 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 | $-3.2M |
| Free Cash FlowOCF − Capex | $-9.4M | $-4.3M |
| FCF MarginFCF / Revenue | -8.3% | -4.2% |
| Capex IntensityCapex / Revenue | 0.6% | 1.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-13.5M | $18.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.7M | $-3.2M | ||
| Q3 25 | $6.4M | $1.2M | ||
| Q2 25 | $-3.3M | $-3.6M | ||
| Q1 25 | $-4.1M | $26.7M | ||
| Q4 24 | $2.2M | $-1.8M | ||
| Q3 24 | $1.9M | $264.0K | ||
| Q2 24 | $2.3M | $-2.9M | ||
| Q1 24 | $4.9M | $611.0K |
| Q4 25 | $-9.4M | $-4.3M | ||
| Q3 25 | $5.6M | $524.0K | ||
| Q2 25 | $-4.3M | $-4.2M | ||
| Q1 25 | $-5.3M | $26.1M | ||
| Q4 24 | $504.0K | $-2.5M | ||
| Q3 24 | $-205.0K | $-223.0K | ||
| Q2 24 | $147.0K | $-3.7M | ||
| Q1 24 | $2.2M | $-815.0K |
| Q4 25 | -8.3% | -4.2% | ||
| Q3 25 | 5.5% | 0.6% | ||
| Q2 25 | -4.5% | -3.8% | ||
| Q1 25 | -5.9% | 29.0% | ||
| Q4 24 | 0.5% | -2.3% | ||
| Q3 24 | -0.2% | -0.2% | ||
| Q2 24 | 0.2% | -3.1% | ||
| Q1 24 | 2.2% | -0.8% |
| Q4 25 | 0.6% | 1.1% | ||
| Q3 25 | 0.8% | 0.7% | ||
| Q2 25 | 1.0% | 0.5% | ||
| Q1 25 | 1.3% | 0.7% | ||
| Q4 24 | 1.6% | 0.6% | ||
| Q3 24 | 2.2% | 0.5% | ||
| Q2 24 | 2.4% | 0.7% | ||
| Q1 24 | 2.8% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.93× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -4.24× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -0.46× | ||
| 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% |
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
