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Wheels Up Experience (UP) is a Industrials company in the Russell 2000. Latest news and coverage below.
| FY2019Dec 2019 | FY2020Dec 2020 | FY2021Dec 2021 | FY2022Dec 2022 | FY2023Dec 2023 | FY2024Dec 2024 | FY2025Dec 2025 | |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $384.9M | $695.0M | $1.19B | $1.58B | $1.25B | $792.1M | $736.5M |
| Growth (year over year) | — | +80.6% | +71.8% | +32.3% | −20.7% | −36.8% | −7.0% |
| Gross profit | $44.2M | $60.2M | $76.6M | $39.4M | $20.8M | $59.0M | $73.7M |
| Gross margin | 11.5% | 8.7% | 6.4% | 2.5% | 1.7% | 7.5% | 10.0% |
| Operating income | −$78.1M | −$63.0M | −$203.3M | −$560.0M | −$443.6M | −$258.8M | −$203.4M |
| Operating margin | −20.3% | −9.1% | −17.0% | −35.4% | −35.4% | −32.7% | −27.6% |
| Net income | −$96.3M | −$78.6M | −$190.0M | −$555.2M | −$487.4M | −$339.6M | −$294.2M |
| Net margin | −25.0% | −11.3% | −15.9% | −35.1% | −38.9% | −42.9% | −39.9% |
| EPS (diluted) | −$186.00 | −$96.00 | −$185.60 | −$452.00 | −$73.80 | −$9.80 | −$8.40 |
| Balance sheet | |||||||
| Cash and equivalents | $96.4M | $312.8M | $784.6M | $585.9M | $263.9M | $216.4M | $133.9M |
| Total assets | — | $1.36B | $1.98B | $1.92B | $1.32B | $1.16B | $968.8M |
| Total liabilities | — | $1.07B | $1.24B | $1.67B | $1.22B | $1.35B | $1.36B |
| Long-term debt | — | $148.4M | $0 | $226.2M | $235.1M | $376.3M | $316.4M |
| Shareholders' equity | −$56.3M | $267.8M | $730.2M | $251.9M | $97.4M | −$202.1M | −$392.1M |
| Cash flow | |||||||
| Operating cash flow | −$24.9M | $209.6M | $126.5M | −$230.7M | −$665.3M | −$77.9M | −$166.3M |
| Capital expenditure | $4.15M | $7.11M | $15.2M | $83.6M | $20.2M | $122.8M | $93.6M |
| Free cash flow | −$29.0M | $202.5M | $111.3M | −$314.2M | −$685.5M | −$200.7M | −$259.9M |
| Share buybacks | — | $0 | $0 | $7.69M | $28.0K | $485.0K | $1.63M |
| Q3 FY24Sep 2024 | Q4 FY24†Dec 2024 | Q1 FY25Mar 2025 | Q2 FY25Jun 2025 | Q3 FY25Sep 2025 | Q4 FY25†Dec 2025 | Q1 FY26Mar 2026 | Q2 FY26Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $193.9M | $204.8M | $177.5M | $189.6M | $185.5M | $183.8M | $168.9M | $182.0M |
| Growth (year over year) | −39.4% | −16.9% | −9.9% | −3.4% | −4.3% | −10.2% | −4.8% | −4.0% |
| Gross profit | $27.0M | $28.5M | $19.1M | $15.7M | $12.6M | $26.3M | $9.73M | $21.7M |
| Gross margin | 13.9% | 13.9% | 10.8% | 8.3% | 6.8% | 14.3% | 5.8% | 11.9% |
| Operating income | −$41.9M | −$53.3M | −$80.8M | −$59.6M | −$61.3M | −$1.71M | −$57.4M | −$74.4M |
| Operating margin | −21.6% | −26.0% | −45.5% | −31.4% | −33.1% | −0.9% | −34.0% | −40.9% |
| Net income | −$57.7M | −$87.5M | −$99.3M | −$82.3M | −$83.7M | −$28.9M | −$83.0M | −$107.2M |
| Net margin | −29.8% | −42.7% | −55.9% | −43.4% | −45.1% | −15.7% | −49.1% | −58.9% |
| EPS (diluted) | −$1.60 | −$2.60 | −$2.84 | −$2.35 | −$2.40 | −$0.81 | −$2.29 | −$2.97 |
| Balance sheet | ||||||||
| Cash and equivalents | $115.9M | $216.4M | $171.8M | $107.0M | $125.3M | $133.9M | $54.1M | $86.3M |
| Total assets | $1.04B | $1.16B | $1.09B | $1.01B | $973.0M | $968.8M | $916.2M | $926.6M |
| Total liabilities | $1.16B | $1.35B | $1.37B | $1.35B | $1.35B | $1.36B | $1.38B | $1.49B |
| Long-term debt | $209.6M | $376.3M | $382.8M | $391.3M | $393.6M | $316.4M | $400.3M | $581.2M |
| Shareholders' equity | −$117.7M | −$202.1M | −$288.1M | −$347.8M | −$374.5M | −$392.1M | −$465.7M | −$560.3M |
| Cash flow | ||||||||
| Operating cash flow | −$16.9M | $37.9M | −$47.9M | −$62.9M | −$37.1M | −$18.4M | −$99.6M | −$91.6M |
| Capital expenditure | $5.08M | $108.1M | $14.7M | $15.8M | $23.3M | $39.9M | $62.4M | $52.9M |
| Free cash flow | −$21.9M | −$70.2M | −$62.6M | −$78.6M | −$60.4M | −$58.3M | −$162.0M | −$144.5M |
| Share buybacks | $82.0K | −$1.00K | $109.0K | $86.0K | $895.0K | $543.0K | $201.0K | $46.0K |
From Wheels Up Experience's 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →
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