Wheels Up Experience Inc. (UP)

Wheels Up Experience Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	757.47	792.1	1,253	1,580	1,194	694.98
Revenue Growth (YoY)	-9.14%	-36.80%	-20.66%	32.28%	71.84%	80.56%
Cost of Revenue	658.27	721.93	1,199	1,540	1,118	634.78
Gross Profit	99.2	70.17	54.63	39.44	76.63	60.21
Selling, General & Admin	227.16	221.91	234.7	300.64	193.4	114.81
Research & Development	39.54	40.69	59.57	57.24	33.58	21.01
Operating Expenses	327.4	319.15	352.81	423.82	281.18	194.35
Operating Income	-228.21	-248.98	-298.17	-384.38	-204.55	-134.14
Interest Expense	-83.56	-65.35	-41.26	-7.52	-9.52	-22.99
Interest & Investment Income	3.54	2.17	6.12	3.67	0.05	0.55
Other Non Operating Income (Expenses)	-0.4	-0.73	0.08	8.48	17.95	-
EBT Excluding Unusual Items	-308.63	-312.88	-333.23	-379.75	-196.07	-156.58
Merger & Restructuring Charges	-17.96	-3.98	-3.38	-	-	-5.2
Impairment of Goodwill	-	-	-126.2	-180	-	-
Gain (Loss) on Sale of Assets	17.08	3.33	13.95	4.38	1.28	-
Other Unusual Items	-20.29	-24.87	-37.15	-	-2.38	76.38
Pretax Income	-350.02	-338.41	-486	-555.38	-197.17	-85.41
Income Tax Expense	2.86	1.23	1.38	0.17	0.06	-
Earnings From Continuing Operations	-352.88	-339.64	-487.39	-555.55	-197.23	-85.41
Minority Interest in Earnings	-	-	-	0.39	7.21	6.76
Net Income	-352.88	-339.64	-487.39	-555.16	-190.02	-78.64
Net Income to Common	-352.88	-339.64	-487.39	-555.16	-190.02	-78.64
Shares Outstanding (Basic)	700	698	132	25	20	16
Shares Outstanding (Diluted)	700	698	132	25	20	16
Shares Change (YoY)	10.73%	427.79%	438.10%	19.97%	26.02%	56.55%
EPS (Basic)	-0.50	-0.49	-3.69	-22.60	-9.28	-4.84
EPS (Diluted)	-0.50	-0.49	-3.69	-22.60	-9.28	-4.84
Free Cash Flow	-274.24	-203.11	-689.69	-354.35	79.59	202.54
Free Cash Flow Per Share	-0.39	-0.29	-5.22	-14.42	3.89	12.46
Gross Margin	13.10%	8.86%	4.36%	2.50%	6.42%	8.66%
Operating Margin	-30.13%	-31.43%	-23.79%	-24.33%	-17.13%	-19.30%
Profit Margin	-46.59%	-42.88%	-38.89%	-35.14%	-15.91%	-11.32%
Free Cash Flow Margin	-36.20%	-25.64%	-55.03%	-22.43%	6.66%	29.14%
EBITDA	-186.61	-210.93	-254.74	-333.05	-157.16	-80.41
EBITDA Margin	-24.64%	-26.63%	-20.32%	-21.08%	-13.16%	-11.57%
D&A For EBITDA	41.6	38.05	43.43	51.34	47.4	53.73
EBIT	-228.21	-248.98	-298.17	-384.38	-204.55	-134.14
EBIT Margin	-30.13%	-31.43%	-23.79%	-24.33%	-17.13%	-19.30%
Advertising Expenses	-	10.6	8	10.5	12.3	7.2

Updated Nov 5, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q