Company: UP
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049230
Chunk: 34

Company: Wheels Up Experience Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 34
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$(252,097)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization47,626 43,472 Equity-based compensation33,455 33,364 Payment in kind interest40,289 31,259 Amortization (accretion) of deferred financing costs and debt discount10,698 (1,022)Gain on sale of aircraft held for sale(14,854)(2,680)(Gain) loss on disposal of assets, net(3,076)1,757 Impairment of right-of-use assets20,218 — Gain on divestiture(1,833)(3,403)Other3,131 3,796 Changes in assets and liabilities:Accounts receivable(5,481)4,867 Parts and supplies inventories(730)1,453 Prepaid expenses1,314 24,640 Other non-current assets7,173 17,910 Accounts payable1,103 1,913 Accrued expenses9,771 (8,562)Deferred revenue(40,634)(12,813)Other assets and liabilities9,246 332 Net cash used in operating activities(147,926)(115,814)Cash flows from investing activities:Purchases of property and equipment(53,740)(14,716)Capitalized software development costs(9,144)(11,452)Proceeds from sale of divested business, net20,689 6,803 Proceeds from sale of aircraft held for sale, net84,429 47,631 Other1,150 (2,208)Net cash provided by investing activities43,384 26,058 Cash flows from financing activities:Purchase of shares for treasury(1,090)(486)Proceeds from sales of shares of Common Stock47,597 — Proceeds from long-term debt33,906 — Repayments of long-term debt(68,997)(52,475)Payment of debt issuance costs(40)— Net cash provided by (used in) financing activities11,376 (52,961)Effect of exchange rate changes on cash, cash equivalents and restricted cash2,476 (1,274)Net decrease in cash, cash equivalents and restricted cash(90,690)(143,991)Cash, cash equivalents and restricted cash, beginning of period246,468 292,825 Cash, cash equivalents and