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Side-by-side financial comparison of Fastly, Inc. (FSLY) 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 $172.6M, roughly 1.1× Fastly, Inc.). Fastly, Inc. runs the higher net margin — -9.0% vs -15.7%, a 6.7% gap on every dollar of revenue. On growth, Fastly, Inc. posted the faster year-over-year revenue change (22.8% vs -10.2%). Fastly, Inc. produced more free cash flow last quarter ($12.2M vs $-58.3M). Over the past eight quarters, Fastly, Inc.'s revenue compounded faster (13.7% CAGR vs -3.4%).
Fastly, Inc. is an American company based in San Francisco, which describes itself as a cloud computing company. Fastly provides content delivery network services, image optimization, and load balancing services. Fastly's cloud security services include denial-of-service attack protection, bot mitigation, and a web application firewall.
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.
FSLY vs UP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $172.6M | $183.8M |
| Net Profit | $-15.5M | $-28.9M |
| Gross Margin | 61.4% | 14.3% |
| Operating Margin | -8.7% | -0.9% |
| Net Margin | -9.0% | -15.7% |
| Revenue YoY | 22.8% | -10.2% |
| Net Profit YoY | 52.9% | 67.0% |
| EPS (diluted) | $-0.10 | $-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 | $172.6M | $183.8M | ||
| Q3 25 | $158.2M | $185.5M | ||
| Q2 25 | $148.7M | $189.6M | ||
| Q1 25 | $144.5M | $177.5M | ||
| Q4 24 | $140.6M | $204.8M | ||
| Q3 24 | $137.2M | $193.9M | ||
| Q2 24 | $132.4M | $196.3M | ||
| Q1 24 | $133.5M | $197.1M |
| Q4 25 | $-15.5M | $-28.9M | ||
| Q3 25 | $-29.5M | $-83.7M | ||
| Q2 25 | $-37.5M | $-82.3M | ||
| Q1 25 | $-39.1M | $-99.3M | ||
| Q4 24 | $-32.9M | $-87.5M | ||
| Q3 24 | $-38.0M | $-57.7M | ||
| Q2 24 | $-43.7M | $-97.0M | ||
| Q1 24 | $-43.4M | $-97.4M |
| Q4 25 | 61.4% | 14.3% | ||
| Q3 25 | 58.4% | 6.8% | ||
| Q2 25 | 54.5% | 8.3% | ||
| Q1 25 | 53.2% | 10.8% | ||
| Q4 24 | 53.4% | 13.9% | ||
| Q3 24 | 54.5% | 13.9% | ||
| Q2 24 | 55.1% | 2.3% | ||
| Q1 24 | 54.8% | -0.6% |
| Q4 25 | -8.7% | -0.9% | ||
| Q3 25 | -18.2% | -33.1% | ||
| Q2 25 | -24.8% | -31.4% | ||
| Q1 25 | -26.4% | -45.5% | ||
| Q4 24 | -24.4% | -26.0% | ||
| Q3 24 | -29.6% | -21.6% | ||
| Q2 24 | -35.3% | -40.3% | ||
| Q1 24 | -34.6% | -42.9% |
| Q4 25 | -9.0% | -15.7% | ||
| Q3 25 | -18.6% | -45.1% | ||
| Q2 25 | -25.2% | -43.4% | ||
| Q1 25 | -27.1% | -55.9% | ||
| Q4 24 | -23.4% | -42.7% | ||
| Q3 24 | -27.7% | -29.8% | ||
| Q2 24 | -33.0% | -49.4% | ||
| Q1 24 | -32.5% | -49.4% |
| Q4 25 | $-0.10 | $-0.04 | ||
| Q3 25 | $-0.20 | $-0.12 | ||
| Q2 25 | $-0.26 | $-0.12 | ||
| Q1 25 | $-0.27 | $-0.14 | ||
| Q4 24 | $-0.23 | $-0.13 | ||
| Q3 24 | $-0.27 | $-0.08 | ||
| Q2 24 | $-0.32 | $-0.14 | ||
| Q1 24 | $-0.32 | $-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 | $361.8M | $133.9M |
| Total DebtLower is stronger | — | $671.3M |
| Stockholders' EquityBook value | $929.6M | $-392.1M |
| Total Assets | $1.5B | $968.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $361.8M | $133.9M | ||
| Q3 25 | $342.9M | $125.3M | ||
| Q2 25 | $321.2M | $107.0M | ||
| Q1 25 | $307.3M | $171.8M | ||
| Q4 24 | $295.9M | $216.4M | ||
| Q3 24 | $308.2M | $115.9M | ||
| Q2 24 | $311.8M | $141.5M | ||
| Q1 24 | $329.5M | $180.9M |
| Q4 25 | — | $671.3M | ||
| Q3 25 | — | $766.5M | ||
| Q2 25 | — | $770.5M | ||
| Q1 25 | — | $765.8M | ||
| Q4 24 | — | $761.3M | ||
| Q3 24 | — | $596.9M | ||
| Q2 24 | — | $597.4M | ||
| Q1 24 | — | $603.2M |
| Q4 25 | $929.6M | $-392.1M | ||
| Q3 25 | $937.0M | $-374.5M | ||
| Q2 25 | $942.6M | $-347.8M | ||
| Q1 25 | $957.0M | $-288.1M | ||
| Q4 24 | $965.3M | $-202.1M | ||
| Q3 24 | $969.5M | $-117.7M | ||
| Q2 24 | $981.2M | $-72.2M | ||
| Q1 24 | $991.8M | $936.0K |
| Q4 25 | $1.5B | $968.8M | ||
| Q3 25 | $1.5B | $973.0M | ||
| Q2 25 | $1.5B | $1.0B | ||
| Q1 25 | $1.4B | $1.1B | ||
| Q4 24 | $1.5B | $1.2B | ||
| Q3 24 | $1.5B | $1.0B | ||
| Q2 24 | $1.5B | $1.1B | ||
| Q1 24 | $1.5B | $1.2B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 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 | $22.4M | $-18.4M |
| Free Cash FlowOCF − Capex | $12.2M | $-58.3M |
| FCF MarginFCF / Revenue | 7.1% | -31.7% |
| Capex IntensityCapex / Revenue | 5.9% | 21.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $65.8M | $-259.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $22.4M | $-18.4M | ||
| Q3 25 | $28.9M | $-37.1M | ||
| Q2 25 | $25.8M | $-62.9M | ||
| Q1 25 | $17.3M | $-47.9M | ||
| Q4 24 | $5.2M | $37.9M | ||
| Q3 24 | $5.0M | $-16.9M | ||
| Q2 24 | $-4.9M | $-25.2M | ||
| Q1 24 | $11.1M | $-73.8M |
| Q4 25 | $12.2M | $-58.3M | ||
| Q3 25 | $22.9M | $-60.4M | ||
| Q2 25 | $15.9M | $-78.6M | ||
| Q1 25 | $14.7M | $-62.6M | ||
| Q4 24 | $251.0K | $-70.2M | ||
| Q3 24 | $3.0M | $-21.9M | ||
| Q2 24 | $-6.7M | $-30.8M | ||
| Q1 24 | $9.5M | $-77.8M |
| Q4 25 | 7.1% | -31.7% | ||
| Q3 25 | 14.5% | -32.6% | ||
| Q2 25 | 10.7% | -41.5% | ||
| Q1 25 | 10.2% | -35.3% | ||
| Q4 24 | 0.2% | -34.3% | ||
| Q3 24 | 2.2% | -11.3% | ||
| Q2 24 | -5.1% | -15.7% | ||
| Q1 24 | 7.1% | -39.5% |
| Q4 25 | 5.9% | 21.7% | ||
| Q3 25 | 3.8% | 12.5% | ||
| Q2 25 | 6.6% | 8.3% | ||
| Q1 25 | 1.8% | 8.3% | ||
| Q4 24 | 3.5% | 52.8% | ||
| Q3 24 | 1.5% | 2.6% | ||
| Q2 24 | 1.3% | 2.9% | ||
| Q1 24 | 1.2% | 2.0% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FSLY
| Network Services | $130.8M | 76% |
| Security | $35.4M | 21% |
| Other | $6.4M | 4% |
UP
Segment breakdown not available.
