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Side-by-side financial comparison of GRID DYNAMICS HOLDINGS, INC. (GDYN) 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 $104.1M, roughly 1.8× GRID DYNAMICS HOLDINGS, INC.). GRID DYNAMICS HOLDINGS, INC. runs the higher net margin — -1.4% vs -15.7%, a 14.3% gap on every dollar of revenue. On growth, GRID DYNAMICS HOLDINGS, INC. posted the faster year-over-year revenue change (3.7% vs -10.2%). Over the past eight quarters, GRID DYNAMICS HOLDINGS, INC.'s revenue compounded faster (12.0% CAGR vs -3.4%).
Escape Dynamics, Inc. was a Colorado-based technology company that operated 2010–2015 focused on bringing to market single-stage-to-orbit reusable electromagnetically powered spaceplanes.
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.
GDYN vs UP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $104.1M | $183.8M |
| Net Profit | $-1.5M | $-28.9M |
| Gross Margin | 34.8% | 14.3% |
| Operating Margin | 61.7% | -0.9% |
| Net Margin | -1.4% | -15.7% |
| Revenue YoY | 3.7% | -10.2% |
| Net Profit YoY | -150.6% | 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.
| Q1 26 | $104.1M | — | ||
| Q4 25 | $106.2M | $183.8M | ||
| Q3 25 | $104.2M | $185.5M | ||
| Q2 25 | $101.1M | $189.6M | ||
| Q1 25 | $100.4M | $177.5M | ||
| Q4 24 | $100.3M | $204.8M | ||
| Q3 24 | $87.4M | $193.9M | ||
| Q2 24 | $83.0M | $196.3M |
| Q1 26 | $-1.5M | — | ||
| Q4 25 | $306.0K | $-28.9M | ||
| Q3 25 | $1.2M | $-83.7M | ||
| Q2 25 | $5.3M | $-82.3M | ||
| Q1 25 | $2.9M | $-99.3M | ||
| Q4 24 | $4.5M | $-87.5M | ||
| Q3 24 | $4.3M | $-57.7M | ||
| Q2 24 | $-817.0K | $-97.0M |
| Q1 26 | 34.8% | — | ||
| Q4 25 | 34.0% | 14.3% | ||
| Q3 25 | 33.3% | 6.8% | ||
| Q2 25 | 34.1% | 8.3% | ||
| Q1 25 | 36.8% | 10.8% | ||
| Q4 24 | 36.9% | 13.9% | ||
| Q3 24 | 37.4% | 13.9% | ||
| Q2 24 | 35.6% | 2.3% |
| Q1 26 | 61.7% | — | ||
| Q4 25 | 0.5% | -0.9% | ||
| Q3 25 | -0.2% | -33.1% | ||
| Q2 25 | -0.1% | -31.4% | ||
| Q1 25 | -2.0% | -45.5% | ||
| Q4 24 | 1.3% | -26.0% | ||
| Q3 24 | 2.4% | -21.6% | ||
| Q2 24 | 0.0% | -40.3% |
| Q1 26 | -1.4% | — | ||
| Q4 25 | 0.3% | -15.7% | ||
| Q3 25 | 1.1% | -45.1% | ||
| Q2 25 | 5.2% | -43.4% | ||
| Q1 25 | 2.9% | -55.9% | ||
| Q4 24 | 4.5% | -42.7% | ||
| Q3 24 | 4.9% | -29.8% | ||
| Q2 24 | -1.0% | -49.4% |
| Q1 26 | $-0.02 | — | ||
| Q4 25 | $0.01 | $-0.04 | ||
| Q3 25 | $0.01 | $-0.12 | ||
| Q2 25 | $0.06 | $-0.12 | ||
| Q1 25 | $0.03 | $-0.14 | ||
| Q4 24 | $0.06 | $-0.13 | ||
| Q3 24 | $0.05 | $-0.08 | ||
| Q2 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 | $327.5M | $133.9M |
| Total DebtLower is stronger | — | $671.3M |
| Stockholders' EquityBook value | $530.1M | $-392.1M |
| Total Assets | $605.0M | $968.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $327.5M | — | ||
| Q4 25 | $342.1M | $133.9M | ||
| Q3 25 | $338.6M | $125.3M | ||
| Q2 25 | $336.8M | $107.0M | ||
| Q1 25 | $325.5M | $171.8M | ||
| Q4 24 | $334.7M | $216.4M | ||
| Q3 24 | $231.3M | $115.9M | ||
| Q2 24 | $256.0M | $141.5M |
| Q1 26 | — | — | ||
| 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 26 | $530.1M | — | ||
| Q4 25 | $542.1M | $-392.1M | ||
| Q3 25 | $537.7M | $-374.5M | ||
| Q2 25 | $532.2M | $-347.8M | ||
| Q1 25 | $517.4M | $-288.1M | ||
| Q4 24 | $517.8M | $-202.1M | ||
| Q3 24 | $400.2M | $-117.7M | ||
| Q2 24 | $388.4M | $-72.2M |
| Q1 26 | $605.0M | — | ||
| Q4 25 | $612.9M | $968.8M | ||
| Q3 25 | $613.2M | $973.0M | ||
| Q2 25 | $608.9M | $1.0B | ||
| Q1 25 | $590.9M | $1.1B | ||
| Q4 24 | $592.2M | $1.2B | ||
| Q3 24 | $477.3M | $1.0B | ||
| Q2 24 | $443.6M | $1.1B |
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 | — | $-18.4M |
| Free Cash FlowOCF − Capex | — | $-58.3M |
| FCF MarginFCF / Revenue | — | -31.7% |
| Capex IntensityCapex / Revenue | — | 21.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-259.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $9.9M | $-18.4M | ||
| Q3 25 | $7.0M | $-37.1M | ||
| Q2 25 | $14.4M | $-62.9M | ||
| Q1 25 | $9.4M | $-47.9M | ||
| Q4 24 | $7.1M | $37.9M | ||
| Q3 24 | $9.2M | $-16.9M | ||
| Q2 24 | $10.7M | $-25.2M |
| Q1 26 | — | — | ||
| Q4 25 | $6.1M | $-58.3M | ||
| Q3 25 | $2.9M | $-60.4M | ||
| Q2 25 | $10.2M | $-78.6M | ||
| Q1 25 | $6.0M | $-62.6M | ||
| Q4 24 | $4.4M | $-70.2M | ||
| Q3 24 | $5.9M | $-21.9M | ||
| Q2 24 | $8.0M | $-30.8M |
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | -31.7% | ||
| Q3 25 | 2.8% | -32.6% | ||
| Q2 25 | 10.1% | -41.5% | ||
| Q1 25 | 6.0% | -35.3% | ||
| Q4 24 | 4.4% | -34.3% | ||
| Q3 24 | 6.8% | -11.3% | ||
| Q2 24 | 9.7% | -15.7% |
| Q1 26 | — | — | ||
| Q4 25 | 3.6% | 21.7% | ||
| Q3 25 | 3.9% | 12.5% | ||
| Q2 25 | 4.1% | 8.3% | ||
| Q1 25 | 3.3% | 8.3% | ||
| Q4 24 | 2.6% | 52.8% | ||
| Q3 24 | 3.7% | 2.6% | ||
| Q2 24 | 3.2% | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | 32.34× | — | ||
| Q3 25 | 5.92× | — | ||
| Q2 25 | 2.73× | — | ||
| Q1 25 | 3.21× | — | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | 2.15× | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
