Company: UP
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049230
Chunk: 29

Company: Wheels Up Experience Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 29
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 deficit(2,368,237)(2,102,895)Accumulated other comprehensive loss(5,598)(12,662)Treasury stock, at cost, 1,267,117 and 439,451 shares, respectively(9,294)(8,203)Total Wheels Up Experience Inc. stockholders’ equity(374,545)(202,109)Non-controlling interests— — Total equity(374,545)(202,109)Total liabilities and equity$973,003 $1,158,011 

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

WHEELS UP EXPERIENCE INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 

(Unaudited, in thousands, except share and per share data)Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Revenue$185,486 $193,903 $552,653 $587,289 Costs and expenses:Cost of revenue (exclusive of items shown separately below)172,878 166,859 505,257 556,809 Technology and development10,170 9,594 30,052 31,204 Sales and marketing22,084 20,029 68,630 62,946 General and administrative31,982 27,058 119,031 99,244 Depreciation and amortization13,926 12,484 47,626 43,472 Gain on sale of aircraft(3,737)(190)(12,491)(2,680)(Gain) loss on disposal of assets, net(480)(70)(3,749)1,757 Total costs and expenses246,823 235,764 754,356 792,752 Loss from operations(61,337)(41,861)(201,703)(205,463)Other income (expense)Gain on divestiture1,833 — 1,833 3,403 Loss on extinguishment of debt(19)(289)(79)(2,800)Change in fair value of warrant liability— 107 — 9 Interest income631 907 2,615 1,248 Interest expense(23,510)(16,041)(65,474)(47,263)Other income (expense), net4 (149)(165)(499)Total other income (expense)(21,061)(15,