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Side-by-side financial comparison of BRC Inc. (BRCC) and Vericel Corp (VCEL). Click either name above to swap in a different company.
BRC Inc. is the larger business by last-quarter revenue ($112.7M vs $92.9M, roughly 1.2× Vericel Corp). Vericel Corp runs the higher net margin — 25.0% vs -2.8%, a 27.9% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 6.5%). Vericel Corp produced more free cash flow last quarter ($12.8M vs $-9.4M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% 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.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
BRCC vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $112.7M | $92.9M |
| Net Profit | $-3.2M | $23.2M |
| Gross Margin | 32.1% | 78.7% |
| Operating Margin | -6.3% | 24.1% |
| Net Margin | -2.8% | 25.0% |
| Revenue YoY | 6.5% | 23.3% |
| Net Profit YoY | -29.3% | 17.3% |
| EPS (diluted) | $-0.02 | $0.46 |
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 | $92.9M | ||
| Q3 25 | $100.7M | $67.5M | ||
| Q2 25 | $94.8M | $63.2M | ||
| Q1 25 | $90.0M | $52.6M | ||
| Q4 24 | $105.9M | $75.4M | ||
| Q3 24 | $98.2M | $57.9M | ||
| Q2 24 | $89.0M | $52.7M | ||
| Q1 24 | $98.4M | $51.3M |
| Q4 25 | $-3.2M | $23.2M | ||
| Q3 25 | $-486.0K | $5.1M | ||
| Q2 25 | $-5.3M | $-553.0K | ||
| Q1 25 | $-2.9M | $-11.2M | ||
| Q4 24 | $-2.5M | $19.8M | ||
| Q3 24 | $-535.0K | $-901.0K | ||
| Q2 24 | $-482.0K | $-4.7M | ||
| Q1 24 | $548.0K | $-3.9M |
| Q4 25 | 32.1% | 78.7% | ||
| Q3 25 | 36.9% | 73.5% | ||
| Q2 25 | 33.9% | 73.7% | ||
| Q1 25 | 36.1% | 69.0% | ||
| Q4 24 | 38.1% | 77.6% | ||
| Q3 24 | 42.1% | 71.9% | ||
| Q2 24 | 41.9% | 69.5% | ||
| Q1 24 | 42.9% | 68.9% |
| Q4 25 | -6.3% | 24.1% | ||
| Q3 25 | 0.5% | 5.1% | ||
| Q2 25 | -13.3% | -3.2% | ||
| Q1 25 | -6.0% | -24.3% | ||
| Q4 24 | -2.1% | 24.5% | ||
| Q3 24 | 1.1% | -4.3% | ||
| Q2 24 | 1.1% | -11.5% | ||
| Q1 24 | 4.0% | -10.7% |
| Q4 25 | -2.8% | 25.0% | ||
| Q3 25 | -0.5% | 7.5% | ||
| Q2 25 | -5.6% | -0.9% | ||
| Q1 25 | -3.2% | -21.4% | ||
| Q4 24 | -2.3% | 26.3% | ||
| Q3 24 | -0.5% | -1.6% | ||
| Q2 24 | -0.5% | -8.9% | ||
| Q1 24 | 0.6% | -7.5% |
| Q4 25 | $-0.02 | $0.46 | ||
| Q3 25 | $0.00 | $0.10 | ||
| Q2 25 | $-0.07 | $-0.01 | ||
| Q1 25 | $-0.04 | $-0.23 | ||
| Q4 24 | $-0.03 | $0.40 | ||
| Q3 24 | $-0.01 | $-0.02 | ||
| Q2 24 | $-0.01 | $-0.10 | ||
| Q1 24 | $0.01 | $-0.08 |
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 | $137.5M |
| Total DebtLower is stronger | $34.7M | — |
| Stockholders' EquityBook value | $45.7M | $354.6M |
| Total Assets | $209.2M | $488.0M |
| Debt / EquityLower = less leverage | 0.76× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.3M | $137.5M | ||
| Q3 25 | $9.5M | $135.4M | ||
| Q2 25 | $4.3M | $116.9M | ||
| Q1 25 | $3.9M | $112.9M | ||
| Q4 24 | $6.8M | $116.2M | ||
| Q3 24 | $7.3M | $101.7M | ||
| Q2 24 | $9.6M | $102.5M | ||
| Q1 24 | $4.0M | $110.6M |
| 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 | $354.6M | ||
| Q3 25 | $48.0M | $321.9M | ||
| Q2 25 | $10.1M | $306.8M | ||
| Q1 25 | $11.2M | $295.5M | ||
| Q4 24 | $13.2M | $292.0M | ||
| Q3 24 | $14.5M | $257.5M | ||
| Q2 24 | $14.9M | $243.0M | ||
| Q1 24 | $14.6M | $233.9M |
| Q4 25 | $209.2M | $488.0M | ||
| Q3 25 | $222.4M | $453.3M | ||
| Q2 25 | $225.3M | $435.6M | ||
| Q1 25 | $222.9M | $424.6M | ||
| Q4 24 | $227.4M | $432.7M | ||
| Q3 24 | $233.7M | $390.4M | ||
| Q2 24 | $229.9M | $376.8M | ||
| Q1 24 | $227.2M | $356.7M |
| 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 | $15.0M |
| Free Cash FlowOCF − Capex | $-9.4M | $12.8M |
| FCF MarginFCF / Revenue | -8.3% | 13.8% |
| Capex IntensityCapex / Revenue | 0.6% | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $-13.5M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.7M | $15.0M | ||
| Q3 25 | $6.4M | $22.1M | ||
| Q2 25 | $-3.3M | $8.2M | ||
| Q1 25 | $-4.1M | $6.6M | ||
| Q4 24 | $2.2M | $22.2M | ||
| Q3 24 | $1.9M | $10.2M | ||
| Q2 24 | $2.3M | $18.5M | ||
| Q1 24 | $4.9M | $7.2M |
| Q4 25 | $-9.4M | $12.8M | ||
| Q3 25 | $5.6M | $19.5M | ||
| Q2 25 | $-4.3M | $81.0K | ||
| Q1 25 | $-5.3M | $-7.6M | ||
| Q4 24 | $504.0K | $8.5M | ||
| Q3 24 | $-205.0K | $-9.2M | ||
| Q2 24 | $147.0K | $1.8M | ||
| Q1 24 | $2.2M | $-6.8M |
| Q4 25 | -8.3% | 13.8% | ||
| Q3 25 | 5.5% | 28.8% | ||
| Q2 25 | -4.5% | 0.1% | ||
| Q1 25 | -5.9% | -14.5% | ||
| Q4 24 | 0.5% | 11.2% | ||
| Q3 24 | -0.2% | -15.9% | ||
| Q2 24 | 0.2% | 3.4% | ||
| Q1 24 | 2.2% | -13.3% |
| Q4 25 | 0.6% | 2.4% | ||
| Q3 25 | 0.8% | 3.9% | ||
| Q2 25 | 1.0% | 12.9% | ||
| Q1 25 | 1.3% | 27.0% | ||
| Q4 24 | 1.6% | 18.3% | ||
| Q3 24 | 2.2% | 33.5% | ||
| Q2 24 | 2.4% | 31.8% | ||
| Q1 24 | 2.8% | 27.3% |
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| 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% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
