Company: UP
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001819516-25-000012
Chunk: 123

Company: Wheels Up Experience Inc.
Filing Date: 2025-03-11
Form: 10-K
Item: Item 7
Chunk 123
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20242023$%Revenue$792,104 $1,253,317 $(461,213)(36.8) %Costs and expenses:Cost of revenue (exclusive of items shown separately below)733,075 1,232,506 (499,431)(40.5) %Technology and development40,690 61,873 (21,183)(34.2) %Sales and marketing 84,317 88,828 (4,511)(5.1) %General and administrative 137,594 145,873 (8,279)(5.7) %Depreciation and amortization56,546 58,533 (1,987)(3.4) %(Gain) loss on sale of aircraft held for sale(4,622)(16,939)12,317 72.7  %Loss on disposal of assets, net3,295 — 3,295 n/mImpairment of goodwill— 126,200 (126,200)(100.0) %Total costs and expenses1,050,895 1,696,874 (645,979)(38.1) %Loss from operations(258,791)(443,557)184,766 41.7  %Other income (expense):Change in fair value of warrant liability(8)739 (747)(101.1) %Gain (loss) on divestiture2,003 (2,991)4,994 n/mLoss on extinguishment of debt(17,714)(4,401)(13,313)n/mInterest income2,170 6,121 (3,951)(64.5) %Interest expense(65,352)(41,255)(24,097)(58.4) %Other expense, net(717)(660)(57)(8.6) %Total other income (expense)(79,618)(42,447)(37,171)(87.6) %Loss before income taxes(338,409)(486,004)147,595 (30.4) %Income tax expense(1,226)(1,383)157 11.4  %Net loss(339,635)(487,387)147,752 30.3  %Less: net income (loss) attributable to non-controlling interests— —