Company: UP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001819516-25-000044
Chunk: 27

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 27
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umulated deficit(2,284,507)(2,102,895)Accumulated other comprehensive loss(3,084)(12,662)Treasury stock, at cost, 810,309 and 439,451 shares, respectively(8,648)(8,203)Total Wheels Up Experience Inc. stockholders’ equity(347,751)(202,109)Non-controlling interests— — Total equity(347,751)(202,109)Total liabilities and equity$1,005,726 $1,158,011 

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

WHEELS UP EXPERIENCE INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 

(Unaudited, in thousands, except share and per share data)Three Months Ended June 30,Six Months Ended June 30,2025202420252024Revenue$189,637 $196,285 $367,167 $393,386 Costs and expenses:Cost of revenue (exclusive of items shown separately below)173,955 191,690 332,379 389,950 Technology and development9,358 10,529 19,882 21,610 Sales and marketing24,385 21,480 46,546 42,917 General and administrative30,232 35,949 87,049 72,186 Depreciation and amortization13,490 15,593 33,700 30,988 (Gain) loss on sale of aircraft(2,203)234 (8,754)(2,490)(Gain) loss on disposal of assets, net20 (136)(3,269)1,827 Total costs and expenses249,237 275,339 507,533 556,988 Loss from operations(59,600)(79,054)(140,366)(163,602)Other income (expense)Gain on divestiture— — — 3,403 Loss on extinguishment of debt(22)(805)(60)(2,511)Change in fair value of warrant liability— (70)— (98)Interest income836 285 1,984 341 Interest expense(22,084)(16,667)(41,964)(31,222)Other income (expense), net(470)(221)(169)(350)Total other income (expense)(21,740)(17