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Side-by-side financial comparison of FLYEXCLUSIVE INC. (FLYX) and STEM, INC. (STEM). Click either name above to swap in a different company.
FLYEXCLUSIVE INC. is the larger business by last-quarter revenue ($92.1M vs $47.1M, roughly 2.0× STEM, INC.). FLYEXCLUSIVE INC. runs the higher net margin — -4.6% vs -33.9%, a 29.3% gap on every dollar of revenue. On growth, FLYEXCLUSIVE INC. posted the faster year-over-year revenue change (19.8% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% CAGR vs 21.9%).
FLYEXCLUSIVE INC. is a U.S.-headquartered private aviation services provider that offers private jet charter, aircraft management, maintenance repair, and fractional ownership programs. It primarily serves high-net-worth individuals, corporate clients, and government entities across North America, delivering personalized on-demand air travel solutions prioritizing safety and convenience.
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
FLYX vs STEM — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $92.1M | $47.1M |
| Net Profit | $-4.3M | $-16.0M |
| Gross Margin | 13.7% | 48.9% |
| Operating Margin | -12.3% | -17.7% |
| Net Margin | -4.6% | -33.9% |
| Revenue YoY | 19.8% | -15.6% |
| Net Profit YoY | 32.0% | 68.8% |
| EPS (diluted) | $-0.25 | $-4.40 |
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 | — | $47.1M | ||
| Q3 25 | $92.1M | $38.2M | ||
| Q2 25 | $91.3M | $38.4M | ||
| Q1 25 | $88.1M | $32.5M | ||
| Q4 24 | — | $55.8M | ||
| Q3 24 | $76.9M | $29.3M | ||
| Q2 24 | $79.0M | $34.0M | ||
| Q1 24 | $80.0M | $25.5M |
| Q4 25 | — | $-16.0M | ||
| Q3 25 | $-4.3M | $-23.8M | ||
| Q2 25 | $-4.8M | $202.5M | ||
| Q1 25 | $-5.4M | $-25.0M | ||
| Q4 24 | — | $-51.1M | ||
| Q3 24 | $-6.3M | $-148.3M | ||
| Q2 24 | $-5.2M | $-582.3M | ||
| Q1 24 | $-5.8M | $-72.3M |
| Q4 25 | — | 48.9% | ||
| Q3 25 | 13.7% | 35.5% | ||
| Q2 25 | 15.0% | 33.4% | ||
| Q1 25 | 12.8% | 32.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | 11.3% | 21.2% | ||
| Q2 24 | 7.9% | 27.6% | ||
| Q1 24 | 7.2% | -95.0% |
| Q4 25 | — | -17.7% | ||
| Q3 25 | -12.3% | -33.6% | ||
| Q2 25 | -13.5% | -34.8% | ||
| Q1 25 | -16.7% | -65.0% | ||
| Q4 24 | — | -84.4% | ||
| Q3 24 | -27.2% | -493.2% | ||
| Q2 24 | -27.6% | -1705.5% | ||
| Q1 24 | -34.3% | -267.0% |
| Q4 25 | — | -33.9% | ||
| Q3 25 | -4.6% | -62.2% | ||
| Q2 25 | -5.2% | 527.8% | ||
| Q1 25 | -6.2% | -76.9% | ||
| Q4 24 | — | -91.6% | ||
| Q3 24 | -8.2% | -506.3% | ||
| Q2 24 | -6.5% | -1712.6% | ||
| Q1 24 | -7.3% | -283.9% |
| Q4 25 | — | $-4.40 | ||
| Q3 25 | $-0.25 | $-2.84 | ||
| Q2 25 | $-0.26 | $-1.79 | ||
| Q1 25 | $-0.30 | $-0.15 | ||
| Q4 24 | — | $-15.29 | ||
| Q3 24 | $-0.32 | $-18.24 | ||
| Q2 24 | $-0.32 | $-71.81 | ||
| Q1 24 | $-0.35 | $-0.46 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $18.7M | $48.9M |
| Total DebtLower is stronger | $123.9M | — |
| Stockholders' EquityBook value | $-434.2M | $-249.4M |
| Total Assets | $448.1M | $308.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $48.9M | ||
| Q3 25 | $18.7M | $43.1M | ||
| Q2 25 | $15.8M | $40.8M | ||
| Q1 25 | $14.7M | $58.6M | ||
| Q4 24 | — | $56.3M | ||
| Q3 24 | $18.7M | $75.4M | ||
| Q2 24 | $9.3M | $89.6M | ||
| Q1 24 | $5.3M | $112.8M |
| Q4 25 | — | — | ||
| Q3 25 | $123.9M | — | ||
| Q2 25 | $111.6M | — | ||
| Q1 25 | $121.6M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $197.9M | — | ||
| Q2 24 | $206.3M | — | ||
| Q1 24 | $209.4M | — |
| Q4 25 | — | $-249.4M | ||
| Q3 25 | $-434.2M | $-235.7M | ||
| Q2 25 | $-261.4M | $-214.1M | ||
| Q1 25 | $-281.5M | $-417.5M | ||
| Q4 24 | — | $-398.4M | ||
| Q3 24 | $-192.0M | $-344.1M | ||
| Q2 24 | $-149.7M | $-203.2M | ||
| Q1 24 | $-149.5M | $371.6M |
| Q4 25 | — | $308.9M | ||
| Q3 25 | $448.1M | $362.6M | ||
| Q2 25 | $443.4M | $379.2M | ||
| Q1 25 | $466.8M | $405.1M | ||
| Q4 24 | — | $437.4M | ||
| Q3 24 | $487.1M | $537.8M | ||
| Q2 24 | $494.7M | $691.5M | ||
| Q1 24 | $524.1M | $1.3B |
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 | $-209.0K | $8.2M |
| Free Cash FlowOCF − Capex | $-11.0M | — |
| FCF MarginFCF / Revenue | -12.0% | — |
| Capex IntensityCapex / Revenue | 11.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-51.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $8.2M | ||
| Q3 25 | $-209.0K | $11.4M | ||
| Q2 25 | $363.0K | $-21.3M | ||
| Q1 25 | $-10.5M | $8.5M | ||
| Q4 24 | — | $-14.7M | ||
| Q3 24 | $-12.3M | $-9.4M | ||
| Q2 24 | $-16.2M | $-11.9M | ||
| Q1 24 | $-26.0M | $-621.0K |
| Q4 25 | — | — | ||
| Q3 25 | $-11.0M | — | ||
| Q2 25 | $353.0K | — | ||
| Q1 25 | $-14.6M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-25.7M | — | ||
| Q2 24 | $-26.6M | — | ||
| Q1 24 | $-64.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | -12.0% | — | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | -16.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -33.5% | — | ||
| Q2 24 | -33.7% | — | ||
| Q1 24 | -80.6% | — |
| Q4 25 | — | — | ||
| Q3 25 | 11.7% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 4.7% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 17.5% | — | ||
| Q2 24 | 13.2% | — | ||
| Q1 24 | 48.2% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.11× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
