balance equationreview2020-12-31
Difference 212974444 exceeds tolerance 1359989.000. Presentation or filing-vintage differences need review.
Revenue
$736.50M
Fiscal year ended 2025-12-31Operating income
-$203.41M
Fiscal year ended 2025-12-31Free cash flow
-$259.92M
Fiscal year ended 2025-12-31Wheels Up Experience Inc. (UP) reported revenue of $736.50M and net income of -$294.22M for the fiscal year ended 2025-12-31. This page shows 7 annual periods of income statement, balance sheet and cash flow figures normalized from Wheels Up Experience Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Air Transportation, Nonscheduled.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|
| Revenue | $736.50M | $792.10M | $1.25B | $1.58B | $1.19B | $694.98M | $384.91M |
| Cost of revenue | $662.76M | $733.08M | $1.23B | $1.54B | $1.12B | $634.78M | $340.67M |
| Gross profit | $73.74M | $59.03M | $20.81M | $39.44M | $76.63M | $60.21M | $44.24M |
| Operating income | -$203.41M | -$258.79M | -$443.56M | -$560.01M | -$203.28M | -$62.97M | -$78.13M |
| Net income | -$294.22M | -$339.64M | -$487.39M | -$555.16M | -$190.02M | -$78.64M | -$96.27M |
| Research & development | $38.76M | $40.69M | $61.87M | $57.24M | $33.58M | $21.01M | $13.96M |
| Weighted-average diluted shares | shares 705.99M | shares 697.71M | shares 132.19M | shares 24.57M | shares 20.48M | shares 162.51M | shares 103.80M |
| Pretax income | -$290.71M | -$338.41M | -$486.00M | -$555.38M | -$197.17M | -$85.40M | -$106.87M |
| Income tax expense | $3.50M | $1.23M | $1.38M | $170.00K | $58.00K | $0 | $0 |
| Diluted EPS | $-0.42 | $-0.49 | $-3.69 | $-22.60 | $-9.28 | $-0.48 | $-0.93 |
| Selling, general & administrative | $233.94M | $221.91M | $234.70M | $300.64M | $193.40M | $120.01M | $69.05M |
| General & administrative | $145.30M | $137.59M | $145.87M | $183.53M | $113.33M | $64.88M | $28.43M |
| Selling & marketing | $88.64M | $84.32M | $88.83M | $117.11M | $80.07M | $55.12M | $40.62M |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|
| Cash & equivalents | $133.93M | $216.43M | $263.91M | $585.88M | $784.57M | $312.80M | Unavailable |
| Total assets | $968.81M | $1.16B | $1.32B | $1.92B | $1.98B | $1.36B | Unavailable |
| Current assets | $249.36M | $332.07M | $434.03M | $819.62M | $933.07M | $395.52M | Unavailable |
| Total liabilities | $1.36B | $1.35B | $1.22B | $1.67B | $1.24B | $1.07B | Unavailable |
| Current liabilities | $907.56M | $917.28M | $907.50M | $1.34B | $1.14B | $839.91M | Unavailable |
| Total equity incl. NCI | -$392.10M | -$202.11M | $97.40M | $251.92M | $736.23M | $293.83M | -$56.25M |
| Temporary (mezzanine) equity | $0 | $5.88M | $2.48M | $0 | Unavailable | $212.98M | Unavailable |
| Inventory | $11.59M | $12.18M | $20.40M | $29.00M | $9.41M | $5.32M | Unavailable |
| Accounts receivable | $24.25M | $32.32M | $38.20M | $112.40M | $79.40M | $50.40M | Unavailable |
| Goodwill | $209.90M | $217.04M | $218.21M | $348.12M | $437.40M | $400.16M | $3.73M |
| Long-term debt | $316.36M | $376.31M | $235.07M | $226.23M | $0 | $148.41M | Unavailable |
| Accounts payable | $20.44M | $29.98M | $32.97M | $43.17M | $43.67M | $20.92M | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$166.30M | -$77.89M | -$665.28M | -$230.69M | $126.49M | $209.64M | -$24.88M |
| Capital expenditures | $93.63M | $122.81M | $20.17M | $83.56M | $15.23M | $7.11M | $4.15M |
| Investing cash flow | $180.37M | -$46.68M | $40.87M | -$175.24M | -$38.67M | $81.58M | -$41.32M |
| Financing cash flow | -$98.51M | $78.66M | $300.95M | $244.79M | $374.03M | -$62.79M | $87.38M |
| Net change in cash | -$81.96M | -$46.36M | -$327.33M | -$166.57M | $461.85M | $228.44M | $21.19M |
| Stock-based compensation | $45.43M | $45.98M | $25.63M | $88.98M | $49.67M | $3.34M | $1.88M |
| Common dividends paid | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common share repurchases | $1.63M | $485.00K | $28.00K | $7.69M | $0 | $0 | Unavailable |
| Depreciation & amortization | $61.17M | $56.55M | $58.53M | $65.94M | $34.30M | $40.80M | $38.40M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|
| Free cash flow | -$259.92M | -$200.70M | -$685.45M | -$314.25M | $111.26M | $202.54M | -$29.02M |
| Gross margin | 10.0% | 7.5% | 1.7% | 2.5% | 6.4% | 8.7% | 11.5% |
| Operating margin | -27.6% | -32.7% | -35.4% | -35.4% | -17.0% | -9.1% | -20.3% |
| FCF margin | -35.3% | -25.3% | -54.7% | -19.9% | 9.3% | 29.1% | -7.5% |
| SBC / revenue | 6.2% | 5.8% | 2.0% | 5.6% | 4.2% | 0.5% | 0.5% |
| Current ratio | 0.27x | 0.36x | 0.48x | 0.61x | 0.82x | 0.47x | Unavailable |
| Revenue YoY growth | -7.0% | -36.8% | -20.7% | 32.3% | 71.8% | 80.6% | Unavailable |
| Net margin | -39.9% | -42.9% | -38.9% | -35.1% | -15.9% | -11.3% | -25.0% |
| R&D / revenue | 5.3% | 5.1% | 4.9% | 3.6% | 2.8% | 3.0% | 3.6% |
| CapEx / revenue | 12.7% | 15.5% | 1.6% | 5.3% | 1.3% | 1.0% | 1.1% |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open UP in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-08-05View SEC filing
10-Q · Filed 2026-05-11View SEC filing
10-K · Filed 2026-03-10View SEC filing
10-Q · Filed 2025-11-05View SEC filing
10-Q · Filed 2025-08-07View SEC filing
10-Q · Filed 2025-05-05View SEC filing
Reconciliation checks needing review
1 period on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.