Wheels Up Experience Inc.

Listed Company

WSUPWCIK 0001819516OTCAcceleratedSmaller ReportingAir Transportation, NonscheduledFY ends Dec 31

Period

FY 2025

Revenue

$736.50M

Net Income

$-294.22M

Total Assets

$968.81M

Equity

$-392.10M

Shares Out

36.23M

Op. Cash Flow

$-166.29M

UP$6.31−71.88% · past yearDBEQ Basic

Daily closing prices

Business

Wheels Up Experience Inc. is a global on-demand private aviation provider offering membership programs and charter solutions through a controlled aircraft fleet and network of third-party operators. The company operates membership tiers—including the Wheels Up Signature Membership with dynamic and fixed pricing options—and global charter services for individual, business and specialized customers. Wheels Up serves markets across North America and internationally via its U.S. air carrier subsidiaries and U.K.-based Air Partner Limited, with a strategic partnership with Delta Air Lines enabling members to earn elite status and book premium commercial flights alongside private aviation.

Summary from 10-K filed 2026-03-10

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	736	792	1,253	1,580	1,194
Cost of revenue (exclusive of items shown separately below)	663	733	1,233	1,540	1,118
Technology and development	39	41	62	57	34
Sales and marketing	89	84	89	117	80
General and administrative	145	138	146	184	113
Depreciation and amortization	61	57	59	66	54
Gain on sale of aircraft held for sale	−52	−5	−17	−4	—
(Gain) loss on disposal of assets, net	−5	3	0	0	−1
Impairment of goodwill	0	0	126	180	0
Total costs and expenses	940	1,051	1,697	2,140	1,398
Loss from operations	−203	−259	−444	−560	−203
Loss on extinguishment of debt	2	2	−3	0	0
Change in fair value of warrant liability	−119,000	−18	−4	0	−2
Gain (loss) on divestiture	0	−8,000	739,000	10	18
Interest income	3	2	6	4	53,000
Interest expense	−90	−65	−41	−8	—
Other expense, net	−1	−717,000	−660,000	−1	0
Total other income (expense)	−87	−80	−42	5	6
Loss before income taxes	−291	−338	−486	−555	−197
Income tax expense	−4	−1	−1	−170,000	−58,000
Net loss	−294	−340	−487	−556	−197
Less: Net loss attributable to non-controlling interests	0	0	0	−387,000	—
Net loss attributable to Wheels Up Experience Inc.	−294	−340	−487	−555	−190
Basic (in dollars per share)	−0.42	−0.49	−3.69	−22.6	−9.28
Diluted (in dollars per share)	−0.42	−0.49	−3.69	−22.6	−9.28
Basic (in shares)	706	698	132	25	20
Diluted (in shares)	706	698	132	25	20

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	134	216	264	586	785
Accounts receivable, net	24	32	38	112	79
Other receivables	1	1	12	6	8
Parts and supplies inventories, net	12	12	20	29	9
Aircraft held for sale	18	36	30	9	18
Prepaid expenses	27	24	56	40	22
Other current assets	33	11	12	13	—
Total current assets	249	332	434	820	933
Property and equipment, net	220	348	338	395	318
Operating lease right-of-use assets	112	57	69	107	109
Goodwill	210	217	218	348	437
Intangible assets, net	75	97	118	142	147
Restricted cash	31	30	29	34	2
Other non-current assets	72	77	111	78	35
Total assets	969	1,158	1,316	1,923	1,981
Current maturities of long-term debt	19	32	24	27	0
Accounts payable	20	30	33	43	44
Accrued expenses	104	89	102	149	107
Deferred revenue, current	739	749	723	1,075	934
Operating lease liabilities, current	17	14	23	30	32
Intangible liabilities, current	2	2	2	2	2
Other current liabilities	7	1	416,000	18	17
Total current liabilities	908	917	908	1,344	1,135
Long-term debt, net	316	376	235	226	0
Deferred revenue, non-current	0	180,000	983,000	2	2
Operating lease liabilities, non-current	121	51	55	83	83
Warrant liability	20,000	20,000	12,000	751,000	10
Intangible liabilities, non-current	8	9	11	12	14
Other non-current liabilities	8	485,000	7	4	30,000
Total liabilities	1,361	1,354	1,216	1,671	1,245
Commitments and contingencies (Note 14)	—	—	—	—	—
Total mezzanine equity	0	6	2	0	—
Common stock, $0.0001 par value; 1,500,000,000 authorized; 723,590,076 and 698,342,097 shares issued and 722,017,754 and 697,902,646 shares outstanding as of as of December 31, 2025 and December 31, 2024, respectively	72,000	70,000	70,000	3,000	25,000
Additional paid-in capital	2,020	1,922	1,879	1,546	1,451
Accumulated deficit	−2,397	−2,103	−1,763	−1,276	−721
Accumulated other comprehensive loss	−6	−13	−11	−10	0
Treasury stock, at cost, 1,572,322 and 439,451 shares, respectively	−10	−8	−8	−8	0
Total Wheels Up Experience Inc. stockholders equity	−392	−202	97	252	730
Non-controlling interests	0	0	0	0	6
Total stockholders equity	−392	−202	97	252	736
Total liabilities and equity	969	1,158	1,316	1,923	1,981

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	61	57	59	66	54
Amortization of deferred financing costs and debt discount	18	9	329,000	766,000	618,000
Payment in kind interest	54	43	10	0	0
Equity-based compensation	45	46	26	89	50
Impairment of lease related assets	20	0	0	—	—
Reserve for excess and obsolete inventory	4	12	4	0	—
Gain on sale of aircraft held for sale	−55	−5	−17	−4	0
Other	−14	−2	7	2	0
Accounts receivable	3	3	30	−24	−22
Other receivables	−309,000	4	−3	3	144,000
Parts and supplies inventories	−3	3	5	−22	−3
Prepaid expenses	−618,000	30	−17	−3	−11
Other non-current assets	6	34	−32	−42	−34
Accounts payable	−9	−3	−8	−10	13
Accrued expenses	14	−11	−35	19	15
Deferred revenue	−13	25	−348	103	279
Other assets and liabilities	−1	−1	13	−2	−2
Net cash used in operating activities	−166	−78	−665	−231	126
Purchases of property and equipment	−94	−123	−20	−84	−15
Capitalized software development costs	−11	−15	−16	−28	−13
Proceeds from sale of divested business	21	8	13	0	0
Purchases of aircraft held for sale	−12	−2	−4	−40	−32
Proceeds from sale of aircraft held for sale, net	272	86	68	51	14
Other	5	105,000	267,000	0	0
Net cash (used in) provided by investing activities	180	−47	41	−175	−39
Proceeds from sales of shares of Common Stock	48	0	0	0	2
Purchase of shares for treasury	−2	−485,000	−28,000	−8	0
Proceeds from long-term debt	66	327	382	259	0
Payment of debt issuance costs	−152,000	−2	−22	−7	—
Repayments of long-term debt	−210	−246	−60	0	−214
Net cash (used in) provided by financing activities	−99	79	301	245	374
Effect of exchange rate changes on cash	2	−450,000	−4	−5	0
Net decrease in cash, cash equivalents and restricted cash	−82	−46	−327	−167	462
Interest	20	24	31	0	12
Non-cash issuance of Common Stock in connection with debt issuance	0	0	310	0	0

Filings

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Frequently asked questions

What is Wheels Up Experience Inc.'s CIK number?

Wheels Up Experience Inc.'s SEC CIK number is 0001819516 (1819516). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Wheels Up Experience Inc.'s SEC filings?

All of Wheels Up Experience Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Wheels Up Experience Inc. last report earnings?

Wheels Up Experience Inc. (WSUPW) most recently filed an earnings 8-K with the SEC on May 11, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001628280-26-033578). This is Wheels Up Experience Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Wheels Up Experience Inc.'s most recent earnings 8-K?

Wheels Up Experience Inc.'s latest earnings 8-K (Item 2.02) was filed May 11, 2026 under accession 0001628280-26-033578. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Wheels Up Experience Inc.'s latest earnings 8-K →
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