Company: UP
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049230
Chunk: 30

Company: Wheels Up Experience Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 30
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465)(61,270)(45,902)Loss before income taxes(82,398)(57,326)(262,973)(251,365)Income tax expense(1,332)(405)(2,369)(732)Net loss(83,730)(57,731)(265,342)(252,097)Less: Net loss attributable to non-controlling interests— — — — Net loss attributable to Wheels Up Experience Inc.$(83,730)$(57,731)$(265,342)$(252,097)Net loss per share of Class A common stock:Basic and diluted$(0.12)$(0.08)$(0.38)$(0.36)Weighted-average shares of Class A common stock outstanding:Basic and diluted703,813,424697,721,699700,889,734697,575,821

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

3

WHEELS UP EXPERIENCE INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(Unaudited, in thousands)

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Net loss$(83,730)$(57,731)$(265,342)$(252,097)Other comprehensive income (loss):Foreign currency translation adjustments(2,514)6,807 7,064 5,167 Comprehensive loss(86,244)(50,924)(258,278)(246,930)Less: Comprehensive loss attributable to non-controlling interests— — — — Comprehensive loss attributable to Wheels Up Experience Inc.$(86,244)$(50,924)$(258,278)$(246,930)

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

4

WHEELS UP EXPERIENCE INC.

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY 

(Unaudited, in thousands, except share data)Common StockTreasury StockSharesAmountAdditional paid-in capitalAccumulateddeficitAccumulatedother comprehensive lossSharesAmountNon-controlling interestsTotalBalance at December 31, 2024698,342,097 $70 $1,921,581 $(2,102,895)$(12,662)439,451 $(8,203)$— $(202,109)Equity-based compensation— — 10,319 — — —