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Side-by-side financial comparison of FLYEXCLUSIVE INC. (FLYX) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($100.0M vs $92.1M, roughly 1.1× FLYEXCLUSIVE INC.). FLYEXCLUSIVE INC. runs the higher net margin — -4.6% vs -7.0%, a 2.4% gap on every dollar of revenue. On growth, FLYEXCLUSIVE INC. posted the faster year-over-year revenue change (19.8% vs 14.5%). Latham Group, Inc. produced more free cash flow last quarter ($14.1M vs $-11.0M). Over the past eight quarters, FLYEXCLUSIVE INC.'s revenue compounded faster (21.9% CAGR vs -4.9%).
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.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
FLYX vs SWIM — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $92.1M | $100.0M |
| Net Profit | $-4.3M | $-7.0M |
| Gross Margin | 13.7% | 28.0% |
| Operating Margin | -12.3% | -10.7% |
| Net Margin | -4.6% | -7.0% |
| Revenue YoY | 19.8% | 14.5% |
| Net Profit YoY | 32.0% | 76.0% |
| EPS (diluted) | $-0.25 | $-0.06 |
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 | — | $100.0M | ||
| Q3 25 | $92.1M | $161.9M | ||
| Q2 25 | $91.3M | $172.6M | ||
| Q1 25 | $88.1M | $111.4M | ||
| Q4 24 | — | $87.3M | ||
| Q3 24 | $76.9M | $150.5M | ||
| Q2 24 | $79.0M | $160.1M | ||
| Q1 24 | $80.0M | $110.6M |
| Q4 25 | — | $-7.0M | ||
| Q3 25 | $-4.3M | $8.1M | ||
| Q2 25 | $-4.8M | $16.0M | ||
| Q1 25 | $-5.4M | $-6.0M | ||
| Q4 24 | — | $-29.2M | ||
| Q3 24 | $-6.3M | $5.9M | ||
| Q2 24 | $-5.2M | $13.3M | ||
| Q1 24 | $-5.8M | $-7.9M |
| Q4 25 | — | 28.0% | ||
| Q3 25 | 13.7% | 35.4% | ||
| Q2 25 | 15.0% | 37.1% | ||
| Q1 25 | 12.8% | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | 11.3% | 32.4% | ||
| Q2 24 | 7.9% | 33.1% | ||
| Q1 24 | 7.2% | 27.7% |
| Q4 25 | — | -10.7% | ||
| Q3 25 | -12.3% | 13.3% | ||
| Q2 25 | -13.5% | 14.3% | ||
| Q1 25 | -16.7% | -4.4% | ||
| Q4 24 | — | -14.9% | ||
| Q3 24 | -27.2% | 8.9% | ||
| Q2 24 | -27.6% | 12.5% | ||
| Q1 24 | -34.3% | -1.9% |
| Q4 25 | — | -7.0% | ||
| Q3 25 | -4.6% | 5.0% | ||
| Q2 25 | -5.2% | 9.3% | ||
| Q1 25 | -6.2% | -5.4% | ||
| Q4 24 | — | -33.4% | ||
| Q3 24 | -8.2% | 3.9% | ||
| Q2 24 | -6.5% | 8.3% | ||
| Q1 24 | -7.3% | -7.1% |
| Q4 25 | — | $-0.06 | ||
| Q3 25 | $-0.25 | $0.07 | ||
| Q2 25 | $-0.26 | $0.13 | ||
| Q1 25 | $-0.30 | $-0.05 | ||
| Q4 24 | — | $-0.24 | ||
| Q3 24 | $-0.32 | $0.05 | ||
| Q2 24 | $-0.32 | $0.11 | ||
| Q1 24 | $-0.35 | $-0.07 |
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 | — |
| Total DebtLower is stronger | $123.9M | $279.8M |
| Stockholders' EquityBook value | $-434.2M | $405.9M |
| Total Assets | $448.1M | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $18.7M | — | ||
| Q2 25 | $15.8M | — | ||
| Q1 25 | $14.7M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $18.7M | — | ||
| Q2 24 | $9.3M | — | ||
| Q1 24 | $5.3M | — |
| Q4 25 | — | $279.8M | ||
| Q3 25 | $123.9M | $281.1M | ||
| Q2 25 | $111.6M | $281.5M | ||
| Q1 25 | $121.6M | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | $197.9M | $282.8M | ||
| Q2 24 | $206.3M | $282.4M | ||
| Q1 24 | $209.4M | $282.8M |
| Q4 25 | — | $405.9M | ||
| Q3 25 | $-434.2M | $408.4M | ||
| Q2 25 | $-261.4M | $398.4M | ||
| Q1 25 | $-281.5M | $381.1M | ||
| Q4 24 | — | $387.2M | ||
| Q3 24 | $-192.0M | $416.6M | ||
| Q2 24 | $-149.7M | $408.1M | ||
| Q1 24 | $-149.5M | $391.8M |
| Q4 25 | — | $823.2M | ||
| Q3 25 | $448.1M | $844.4M | ||
| Q2 25 | $443.4M | $822.1M | ||
| Q1 25 | $466.8M | $824.6M | ||
| Q4 24 | — | $794.2M | ||
| Q3 24 | $487.1M | $853.4M | ||
| Q2 24 | $494.7M | $830.0M | ||
| Q1 24 | $524.1M | $808.6M |
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | $-11.0M | $14.1M |
| FCF MarginFCF / Revenue | -12.0% | 14.1% |
| Capex IntensityCapex / Revenue | 11.7% | 9.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-51.0M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $23.3M | ||
| Q3 25 | $-209.0K | $51.0M | ||
| Q2 25 | $363.0K | $36.0M | ||
| Q1 25 | $-10.5M | $-46.9M | ||
| Q4 24 | — | $6.2M | ||
| Q3 24 | $-12.3M | $37.2M | ||
| Q2 24 | $-16.2M | $52.4M | ||
| Q1 24 | $-26.0M | $-34.5M |
| Q4 25 | — | $14.1M | ||
| Q3 25 | $-11.0M | $45.2M | ||
| Q2 25 | $353.0K | $29.1M | ||
| Q1 25 | $-14.6M | $-50.3M | ||
| Q4 24 | — | $-98.0K | ||
| Q3 24 | $-25.7M | $33.2M | ||
| Q2 24 | $-26.6M | $47.9M | ||
| Q1 24 | $-64.5M | $-39.9M |
| Q4 25 | — | 14.1% | ||
| Q3 25 | -12.0% | 27.9% | ||
| Q2 25 | 0.4% | 16.8% | ||
| Q1 25 | -16.5% | -45.2% | ||
| Q4 24 | — | -0.1% | ||
| Q3 24 | -33.5% | 22.1% | ||
| Q2 24 | -33.7% | 29.9% | ||
| Q1 24 | -80.6% | -36.0% |
| Q4 25 | — | 9.2% | ||
| Q3 25 | 11.7% | 3.6% | ||
| Q2 25 | 0.0% | 4.0% | ||
| Q1 25 | 4.7% | 3.1% | ||
| Q4 24 | — | 7.2% | ||
| Q3 24 | 17.5% | 2.7% | ||
| Q2 24 | 13.2% | 2.8% | ||
| Q1 24 | 48.2% | 4.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FLYX
Segment breakdown not available.
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
