Company: UP
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001819516-25-000012
Chunk: 245

Company: Wheels Up Experience Inc.
Filing Date: 2025-03-11
Form: 10-K
Item: Item 8
Chunk 245
---
 amortization56,546 58,533 65,936 Gain on sale of aircraft held for sale(4,622)(16,939)(4,375)Loss on disposal of assets, net3,295 — — Impairment of goodwill— 126,200 180,000 Total costs and expenses1,050,895 1,696,874 2,139,767 Loss from operations(258,791)(443,557)(560,007)Other income (expense):Change in fair value of warrant liability(8)739 9,516 Gain (loss) on divestiture2,003 (2,991)— Loss on extinguishment of debt(17,714)(4,401)— Interest income2,170 6,121 3,670 Interest expense(65,352)(41,255)(7,515)Other expense,  net(717)(660)(1,041)Total other income (expense)(79,618)(42,447)4,630 Loss before income taxes(338,409)(486,004)(555,377)Income tax expense(1,226)(1,383)(170)Net loss (339,635)(487,387)(555,547)Less: Net loss attributable to non-controlling interests— — (387)Net loss attributable to Wheels Up Experience Inc.$(339,635)$(487,387)$(555,160)Net loss per share of Common Stock:Basic and Diluted$(0.49)$(3.69)$(22.60)Weighted-average shares of Common Stock outstanding:Basic and Diluted697,713,626 132,194,747 24,567,164 

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

83

WHEELS UP EXPERIENCE INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(In thousands)

Year Ended December 31,202420232022Net loss$(339,635)$(487,387)$(555,547)Other comprehensive loss:Foreign currency translation adjustments(1,958)(651)(10,053)Comprehensive loss(341,593)(488,038)(565,600)Less: Comprehensive loss attributable to non-controlling interests— — (387)Comprehensive loss attributable to Wheels Up Experience Inc.$(341,593)$(488,038)$(565,213)

The accompanying notes are