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Side-by-side financial comparison of PagerDuty, Inc. (PD) 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 $124.5M, roughly 1.5× PagerDuty, Inc.). PagerDuty, Inc. runs the higher net margin — 129.7% vs -15.7%, a 145.4% gap on every dollar of revenue. On growth, PagerDuty, Inc. posted the faster year-over-year revenue change (4.7% vs -10.2%). PagerDuty, Inc. produced more free cash flow last quarter ($24.1M vs $-58.3M). Over the past eight quarters, PagerDuty, Inc.'s revenue compounded faster (5.9% CAGR vs -3.4%).
PagerDuty, Inc. is an American cloud computing company specializing in a SaaS incident management platform for IT operations departments.
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.
PD vs UP — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $124.5M | $183.8M |
| Net Profit | $161.6M | $-28.9M |
| Gross Margin | 85.3% | 14.3% |
| Operating Margin | 6.5% | -0.9% |
| Net Margin | 129.7% | -15.7% |
| Revenue YoY | 4.7% | -10.2% |
| Net Profit YoY | 2827.7% | 67.0% |
| EPS (diluted) | $1.69 | $-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 | $124.5M | $183.8M | ||
| Q3 25 | $123.4M | $185.5M | ||
| Q2 25 | $119.8M | $189.6M | ||
| Q1 25 | $121.4M | $177.5M | ||
| Q4 24 | $118.9M | $204.8M | ||
| Q3 24 | $115.9M | $193.9M | ||
| Q2 24 | $111.2M | $196.3M | ||
| Q1 24 | $111.1M | $197.1M |
| Q4 25 | $161.6M | $-28.9M | ||
| Q3 25 | $9.6M | $-83.7M | ||
| Q2 25 | $-7.2M | $-82.3M | ||
| Q1 25 | $-8.8M | $-99.3M | ||
| Q4 24 | $-5.9M | $-87.5M | ||
| Q3 24 | $-10.9M | $-57.7M | ||
| Q2 24 | $-17.1M | $-97.0M | ||
| Q1 24 | $-28.2M | $-97.4M |
| Q4 25 | 85.3% | 14.3% | ||
| Q3 25 | 84.6% | 6.8% | ||
| Q2 25 | 84.0% | 8.3% | ||
| Q1 25 | 83.6% | 10.8% | ||
| Q4 24 | 83.0% | 13.9% | ||
| Q3 24 | 82.7% | 13.9% | ||
| Q2 24 | 82.6% | 2.3% | ||
| Q1 24 | 81.7% | -0.6% |
| Q4 25 | 6.5% | -0.9% | ||
| Q3 25 | 2.9% | -33.1% | ||
| Q2 25 | -8.6% | -31.4% | ||
| Q1 25 | -9.6% | -45.5% | ||
| Q4 24 | -8.7% | -26.0% | ||
| Q3 24 | -13.8% | -21.6% | ||
| Q2 24 | -19.5% | -40.3% | ||
| Q1 24 | -30.1% | -42.9% |
| Q4 25 | 129.7% | -15.7% | ||
| Q3 25 | 7.8% | -45.1% | ||
| Q2 25 | -6.0% | -43.4% | ||
| Q1 25 | -7.2% | -55.9% | ||
| Q4 24 | -5.0% | -42.7% | ||
| Q3 24 | -9.4% | -29.8% | ||
| Q2 24 | -15.4% | -49.4% | ||
| Q1 24 | -25.3% | -49.4% |
| Q4 25 | $1.69 | $-0.04 | ||
| Q3 25 | $0.10 | $-0.12 | ||
| Q2 25 | $-0.07 | $-0.12 | ||
| Q1 25 | $-0.12 | $-0.14 | ||
| Q4 24 | $-0.07 | $-0.13 | ||
| Q3 24 | $-0.14 | $-0.08 | ||
| Q2 24 | $-0.26 | $-0.14 | ||
| Q1 24 | $-0.34 | $-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 | $547.8M | $133.9M |
| Total DebtLower is stronger | — | $671.3M |
| Stockholders' EquityBook value | $320.5M | $-392.1M |
| Total Assets | $1.0B | $968.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $547.8M | $133.9M | ||
| Q3 25 | $567.9M | $125.3M | ||
| Q2 25 | $597.1M | $107.0M | ||
| Q1 25 | $570.8M | $171.8M | ||
| Q4 24 | $542.2M | $216.4M | ||
| Q3 24 | $599.3M | $115.9M | ||
| Q2 24 | $592.8M | $141.5M | ||
| Q1 24 | $571.2M | $180.9M |
| Q4 25 | — | $671.3M | ||
| Q3 25 | — | $766.5M | ||
| Q2 25 | — | $770.5M | ||
| Q1 25 | $484.5M | $765.8M | ||
| Q4 24 | — | $761.3M | ||
| Q3 24 | — | $596.9M | ||
| Q2 24 | — | $597.4M | ||
| Q1 24 | $489.5M | $603.2M |
| Q4 25 | $320.5M | $-392.1M | ||
| Q3 25 | $180.7M | $-374.5M | ||
| Q2 25 | $145.7M | $-347.8M | ||
| Q1 25 | $129.8M | $-288.1M | ||
| Q4 24 | $111.6M | $-202.1M | ||
| Q3 24 | $164.7M | $-117.7M | ||
| Q2 24 | $174.0M | $-72.2M | ||
| Q1 24 | $171.6M | $936.0K |
| Q4 25 | $1.0B | $968.8M | ||
| Q3 25 | $891.5M | $973.0M | ||
| Q2 25 | $926.8M | $1.0B | ||
| Q1 25 | $927.3M | $1.1B | ||
| Q4 24 | $866.8M | $1.2B | ||
| Q3 24 | $916.0M | $1.0B | ||
| Q2 24 | $924.0M | $1.1B | ||
| Q1 24 | $925.3M | $1.2B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 3.73× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 2.85× | 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 | $24.8M | $-18.4M |
| Free Cash FlowOCF − Capex | $24.1M | $-58.3M |
| FCF MarginFCF / Revenue | 19.3% | -31.7% |
| Capex IntensityCapex / Revenue | 0.6% | 21.7% |
| Cash ConversionOCF / Net Profit | 0.15× | — |
| TTM Free Cash FlowTrailing 4 quarters | $117.6M | $-259.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.8M | $-18.4M | ||
| Q3 25 | $34.0M | $-37.1M | ||
| Q2 25 | $30.7M | $-62.9M | ||
| Q1 25 | $31.4M | $-47.9M | ||
| Q4 24 | $22.1M | $37.9M | ||
| Q3 24 | $35.8M | $-16.9M | ||
| Q2 24 | $28.6M | $-25.2M | ||
| Q1 24 | $22.2M | $-73.8M |
| Q4 25 | $24.1M | $-58.3M | ||
| Q3 25 | $33.1M | $-60.4M | ||
| Q2 25 | $30.2M | $-78.6M | ||
| Q1 25 | $30.3M | $-62.6M | ||
| Q4 24 | $21.5M | $-70.2M | ||
| Q3 24 | $35.1M | $-21.9M | ||
| Q2 24 | $28.2M | $-30.8M | ||
| Q1 24 | $21.2M | $-77.8M |
| Q4 25 | 19.3% | -31.7% | ||
| Q3 25 | 26.8% | -32.6% | ||
| Q2 25 | 25.2% | -41.5% | ||
| Q1 25 | 24.9% | -35.3% | ||
| Q4 24 | 18.1% | -34.3% | ||
| Q3 24 | 30.3% | -11.3% | ||
| Q2 24 | 25.4% | -15.7% | ||
| Q1 24 | 19.1% | -39.5% |
| Q4 25 | 0.6% | 21.7% | ||
| Q3 25 | 0.7% | 12.5% | ||
| Q2 25 | 0.4% | 8.3% | ||
| Q1 25 | 0.9% | 8.3% | ||
| Q4 24 | 0.5% | 52.8% | ||
| Q3 24 | 0.5% | 2.6% | ||
| Q2 24 | 0.4% | 2.9% | ||
| Q1 24 | 0.9% | 2.0% |
| Q4 25 | 0.15× | — | ||
| Q3 25 | 3.55× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PD
| US | $88.8M | 71% |
| Non Us | $35.7M | 29% |
UP
Segment breakdown not available.
