vs
Side-by-side financial comparison of BRC Inc. (BRCC) 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 $112.7M, roughly 1.6× BRC Inc.). BRC Inc. runs the higher net margin — -2.8% vs -15.7%, a 12.9% gap on every dollar of revenue. On growth, BRC Inc. posted the faster year-over-year revenue change (6.5% vs -10.2%). BRC Inc. produced more free cash flow last quarter ($-9.4M vs $-58.3M). Over the past eight quarters, BRC Inc.'s revenue compounded faster (7.0% CAGR vs -3.4%).
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.
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.
BRCC vs UP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $112.7M | $183.8M |
| Net Profit | $-3.2M | $-28.9M |
| Gross Margin | 32.1% | 14.3% |
| Operating Margin | -6.3% | -0.9% |
| Net Margin | -2.8% | -15.7% |
| Revenue YoY | 6.5% | -10.2% |
| Net Profit YoY | -29.3% | 67.0% |
| EPS (diluted) | $-0.02 | $-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 | $112.7M | $183.8M | ||
| Q3 25 | $100.7M | $185.5M | ||
| Q2 25 | $94.8M | $189.6M | ||
| Q1 25 | $90.0M | $177.5M | ||
| Q4 24 | $105.9M | $204.8M | ||
| Q3 24 | $98.2M | $193.9M | ||
| Q2 24 | $89.0M | $196.3M | ||
| Q1 24 | $98.4M | $197.1M |
| Q4 25 | $-3.2M | $-28.9M | ||
| Q3 25 | $-486.0K | $-83.7M | ||
| Q2 25 | $-5.3M | $-82.3M | ||
| Q1 25 | $-2.9M | $-99.3M | ||
| Q4 24 | $-2.5M | $-87.5M | ||
| Q3 24 | $-535.0K | $-57.7M | ||
| Q2 24 | $-482.0K | $-97.0M | ||
| Q1 24 | $548.0K | $-97.4M |
| Q4 25 | 32.1% | 14.3% | ||
| Q3 25 | 36.9% | 6.8% | ||
| Q2 25 | 33.9% | 8.3% | ||
| Q1 25 | 36.1% | 10.8% | ||
| Q4 24 | 38.1% | 13.9% | ||
| Q3 24 | 42.1% | 13.9% | ||
| Q2 24 | 41.9% | 2.3% | ||
| Q1 24 | 42.9% | -0.6% |
| Q4 25 | -6.3% | -0.9% | ||
| Q3 25 | 0.5% | -33.1% | ||
| Q2 25 | -13.3% | -31.4% | ||
| Q1 25 | -6.0% | -45.5% | ||
| Q4 24 | -2.1% | -26.0% | ||
| Q3 24 | 1.1% | -21.6% | ||
| Q2 24 | 1.1% | -40.3% | ||
| Q1 24 | 4.0% | -42.9% |
| Q4 25 | -2.8% | -15.7% | ||
| Q3 25 | -0.5% | -45.1% | ||
| Q2 25 | -5.6% | -43.4% | ||
| Q1 25 | -3.2% | -55.9% | ||
| Q4 24 | -2.3% | -42.7% | ||
| Q3 24 | -0.5% | -29.8% | ||
| Q2 24 | -0.5% | -49.4% | ||
| Q1 24 | 0.6% | -49.4% |
| Q4 25 | $-0.02 | $-0.04 | ||
| Q3 25 | $0.00 | $-0.12 | ||
| Q2 25 | $-0.07 | $-0.12 | ||
| Q1 25 | $-0.04 | $-0.14 | ||
| Q4 24 | $-0.03 | $-0.13 | ||
| Q3 24 | $-0.01 | $-0.08 | ||
| Q2 24 | $-0.01 | $-0.14 | ||
| 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 | $133.9M |
| Total DebtLower is stronger | $34.7M | $671.3M |
| Stockholders' EquityBook value | $45.7M | $-392.1M |
| Total Assets | $209.2M | $968.8M |
| Debt / EquityLower = less leverage | 0.76× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.3M | $133.9M | ||
| Q3 25 | $9.5M | $125.3M | ||
| Q2 25 | $4.3M | $107.0M | ||
| Q1 25 | $3.9M | $171.8M | ||
| Q4 24 | $6.8M | $216.4M | ||
| Q3 24 | $7.3M | $115.9M | ||
| Q2 24 | $9.6M | $141.5M | ||
| Q1 24 | $4.0M | $180.9M |
| Q4 25 | $34.7M | $671.3M | ||
| Q3 25 | $35.0M | $766.5M | ||
| Q2 25 | $72.7M | $770.5M | ||
| Q1 25 | $68.8M | $765.8M | ||
| Q4 24 | $65.1M | $761.3M | ||
| Q3 24 | $64.9M | $596.9M | ||
| Q2 24 | $66.5M | $597.4M | ||
| Q1 24 | $61.5M | $603.2M |
| Q4 25 | $45.7M | $-392.1M | ||
| Q3 25 | $48.0M | $-374.5M | ||
| Q2 25 | $10.1M | $-347.8M | ||
| Q1 25 | $11.2M | $-288.1M | ||
| Q4 24 | $13.2M | $-202.1M | ||
| Q3 24 | $14.5M | $-117.7M | ||
| Q2 24 | $14.9M | $-72.2M | ||
| Q1 24 | $14.6M | $936.0K |
| Q4 25 | $209.2M | $968.8M | ||
| Q3 25 | $222.4M | $973.0M | ||
| Q2 25 | $225.3M | $1.0B | ||
| Q1 25 | $222.9M | $1.1B | ||
| Q4 24 | $227.4M | $1.2B | ||
| Q3 24 | $233.7M | $1.0B | ||
| Q2 24 | $229.9M | $1.1B | ||
| Q1 24 | $227.2M | $1.2B |
| 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× | 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 | $-8.7M | $-18.4M |
| Free Cash FlowOCF − Capex | $-9.4M | $-58.3M |
| FCF MarginFCF / Revenue | -8.3% | -31.7% |
| Capex IntensityCapex / Revenue | 0.6% | 21.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-13.5M | $-259.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.7M | $-18.4M | ||
| Q3 25 | $6.4M | $-37.1M | ||
| Q2 25 | $-3.3M | $-62.9M | ||
| Q1 25 | $-4.1M | $-47.9M | ||
| Q4 24 | $2.2M | $37.9M | ||
| Q3 24 | $1.9M | $-16.9M | ||
| Q2 24 | $2.3M | $-25.2M | ||
| Q1 24 | $4.9M | $-73.8M |
| Q4 25 | $-9.4M | $-58.3M | ||
| Q3 25 | $5.6M | $-60.4M | ||
| Q2 25 | $-4.3M | $-78.6M | ||
| Q1 25 | $-5.3M | $-62.6M | ||
| Q4 24 | $504.0K | $-70.2M | ||
| Q3 24 | $-205.0K | $-21.9M | ||
| Q2 24 | $147.0K | $-30.8M | ||
| Q1 24 | $2.2M | $-77.8M |
| Q4 25 | -8.3% | -31.7% | ||
| Q3 25 | 5.5% | -32.6% | ||
| Q2 25 | -4.5% | -41.5% | ||
| Q1 25 | -5.9% | -35.3% | ||
| Q4 24 | 0.5% | -34.3% | ||
| Q3 24 | -0.2% | -11.3% | ||
| Q2 24 | 0.2% | -15.7% | ||
| Q1 24 | 2.2% | -39.5% |
| Q4 25 | 0.6% | 21.7% | ||
| Q3 25 | 0.8% | 12.5% | ||
| Q2 25 | 1.0% | 8.3% | ||
| Q1 25 | 1.3% | 8.3% | ||
| Q4 24 | 1.6% | 52.8% | ||
| Q3 24 | 2.2% | 2.6% | ||
| Q2 24 | 2.4% | 2.9% | ||
| Q1 24 | 2.8% | 2.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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% |
UP
Segment breakdown not available.
