Company: UP
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001819516-25-000012
Chunk: 244

Company: Wheels Up Experience Inc.
Filing Date: 2025-03-11
Form: 10-K
Item: Item 8
Chunk 244
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 Total current liabilities 917,284 907,502 Long-term debt, net 376,308 235,074 Deferred revenue, non-current180 983 Operating lease liabilities, non-current50,810 54,956 Warrant liability20 12 Intangible liabilities, non-current9,152 10,677 Other non-current liabilities485 6,983 Total liabilities 1,354,239 1,216,187 Commitments and contingencies (Note 14)Mezzanine equity:Executive performance award5,881 2,476 Total mezzanine equity5,881 2,476 Stockholders’ equity:

81

Common stock, $0.0001 par value; 1,500,000,000 authorized; 698,342,097 and 697,131,838  shares issued and 697,902,646 and 696,856,131 common shares outstanding as of as of December 31, 2024 and December 31, 2023, respectively70 70 Additional paid-in capital 1,921,581 1,879,009 Accumulated deficit (2,102,895)(1,763,260)Accumulated other comprehensive loss(12,662)(10,704)Treasury stock, at cost, 439,451 and 275,707 shares, respectively(8,203)(7,718)Total Wheels Up Experience Inc. stockholders’ equity(202,109)97,397 Non-controlling interests— — Total stockholders’ equity(202,109)97,397 Total liabilities and equity $1,158,011 $1,316,060 

The accompanying notes are an integral part of these consolidated financial statements.

WHEELS UP EXPERIENCE INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except share and per share data)Year Ended December 31,202420232022Revenue$792,104 $1,253,317 $1,579,760 Costs and expenses:Cost of revenue (exclusive of items shown separately below)733,075 1,232,506 1,540,325 Technology and development 40,690 61,873 57,240 Sales and marketing 84,317 88,828 117,110 General and administrative 137,594 145,873 183,531 Depreciation and