NYSE: UP
Wheels Up Experience Inc.CIK 0001819516 · Industrials · SIC 4522 · Air Transportation, Nonscheduled
Each report below shows a 3-bullet preview. Free accounts read 3 full reports a month — narrative summary, section diffs, and EDGAR-cited quotes.
Sign up freeWant to see a complete report first? Today's free report (RBLX 10-Q) is open in full — no account needed.
Wheels Up shareholders approve 3.75M share increase to equity compensation plan
4 material changes detected. Sign up free to read the summary.
Wheels Up secures $100M unsecured loan from major shareholders Delta, Cox, and CK Wheels
5 material changes detected. Sign up free to read the summary.
Partner
Trade UP commission-free
Open an account, get a free stock.
Investing involves risk. Free stock terms apply.
Wheels Up closes $68M aircraft financing; Delta extends lock-up on 36% stake to May 2027
4 material changes detected. Sign up free to read the summary.
Wheels Up closes material weakness, secures $100M loan commitment, but cash burn doubles
5 material changes detected. Sign up free to read the summary.
Wheels Up secures $100M unsecured loan from major shareholders Delta, Cox, and CK Wheels
4 material changes detected. Sign up free to read the summary.
Wheels Up retires legacy jet fleets in major modernization push
3 material changes detected. Sign up free to read the summary.
Wheels Up executes 1-for-20 reverse stock split, reducing shares from 1.5B to 75M authorized
5 material changes detected. Sign up free to read the summary.
Wheels Up raises $47.5M equity, sells $272M aircraft, cuts debt $210M amid membership decline
5 material changes detected. Sign up free to read the summary.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Latest financial statements
From 10-Q filed May 11, 2026 (period ending Mar 31, 2026). SEC XBRL (companyfacts) — not generated by the model.
Consolidated Statements of Operations (Unaudited)
| Description | Q1 ended Mar 31, 2026 | Q1 ended Mar 31, 2025 |
|---|---|---|
| Revenue: | ||
| Total revenue / net sales | 168.9 | 177.5 |
| Cost of revenue / cost of sales | 159.2 | 158.4 |
| Operating expenses: | ||
| Sales and marketing | 22.2 | 22.2 |
| Research and development | 8.7 | 10.5 |
| General and administrative | 26.8 | 56.8 |
| Total operating expenses | 226.3 | 258.3 |
| Operating income | (57.4) | (80.8) |
| Interest expense | 25.3 | 19.9 |
| Other income/(expense), net | (25.1) | (18.5) |
| Income before income taxes | (82.4) | (99.2) |
| Income tax expense/(benefit) | 0.5 | 0.08 |
| Net income | (83.0) | (99.3) |
| Basic earnings per share | (2.29) | (2.84) |
| Diluted earnings per share | (2.29) | (2.84) |
Consolidated Balance Sheets (Unaudited)
| Description | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| Current assets: | ||
| Cash and equivalents | 54.1 | 171.8 |
| Accounts receivable, net | 32.3 | 41.8 |
| Inventories | 2.2 | 12.7 |
| Prepaid expenses and other current assets | 25.7 | 15.7 |
| Other current assets | 50.4 | 56.8 |
| Total current assets | 164.8 | 298.8 |
| Property, plant and equipment, net | 263.5 | 333.4 |
| Operating lease right-of-use assets, net | 108.0 | 35.2 |
| Finite-lived intangible assets, net | 70.1 | 92.1 |
| Goodwill | 208.7 | 219.5 |
| Deferred income taxes and other assets | 66.5 | 76.8 |
| Other long-term assets | 34.6 | 35.2 |
| TOTAL ASSETS | 916.2 | 1,091 |
| Current liabilities: | ||
| Current portion of long-term debt | 21.7 | 31.7 |
| Accounts payable | 22.9 | 37.9 |
| Accrued liabilities | 93.5 | 84.9 |
| Deferred revenue, current | 687.6 | 758.2 |
| Other current liabilities | 28.7 | 12.7 |
| Total current liabilities | 854.4 | 925.4 |
| Long-term debt | 400.3 | 382.8 |
| Operating lease liabilities | 116.4 | 53.1 |
| Deferred income taxes and other liabilities | 10.9 | 9.6 |
| Total liabilities | 1,382 | 1,371 |
| Redeemable preferred stock | 8.2 | |
| Shareholders' equity: | ||
| Common stock | 0.07 | 0.07 |
| Capital in excess of stated value | 2,032 | 1,932 |
| Accumulated other comprehensive income (loss) | (7.5) | (9.6) |
| Retained earnings (deficit) | (2,480) | (2,202) |
| Treasury stock | 10.0 | 8.3 |
| Total shareholders' equity | (465.7) | (288.1) |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 916.2 | 1,091 |
Consolidated Statements of Cash Flows (Unaudited)
| Description | Q1 ended Mar 31, 2026 | Q1 ended Mar 31, 2025 |
|---|---|---|
| Operating Activities: | ||
| Net cash from operating activities | (99.6) | (47.9) |
| Investing Activities: | ||
| Net cash from investing activities | (38.7) | 16.1 |
| Financing Activities: | ||
| Net cash from financing activities | 63.4 | (8.7) |
| Net increase/(decrease) in cash | (75.8) | (39.4) |
Amounts in millions USD; EPS as reported. Line labels are presentation-friendly mappings of filer XBRL tags — not a re-audit of the full statements. Use EDGAR for interactive notes and detail. Interactive statements & notes on EDGAR ↗