Company: UP
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001819516-25-000028
Chunk: 26

Company: Wheels Up Experience Inc.
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 1
Chunk 26
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154 697,983,030 

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 March 31,20252024Net loss$(99,313)$(97,393)Other comprehensive income (loss):Foreign currency translation adjustments3,106 (1,542)Comprehensive loss(96,207)(98,935)Less: Comprehensive loss attributable to non-controlling interests— — Comprehensive loss attributable to Wheels Up Experience Inc.$(96,207)$(98,935)

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 — — — — — 10,319 Shares withheld for employee taxes on vested equity awards— — — — — 88,935 (109)— (109)Issuance of Common Stock upon settlement of restricted stock units1,051,121 — — — — — — — — Net loss— — — (99,313)— — — — (99,313)Other comprehensive income (loss)— — — — 3,106 — — — 3,106 Balance at March 31, 2025699,393,218 $70 $1,931,900 $(2,202,208)$(9,556)528,386 $(8,312)$— $(288,106)

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

5

WHEELS UP EXPERIENCE INC.

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY 

(Unaudited, in thousands,