Company: UP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001819516-25-000044
Chunk: 28

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 28
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,478)(40,209)(30,437)Loss before income taxes(81,340)(96,532)(180,575)(194,039)Income tax benefit (expense)(959)(441)(1,037)(327)Net loss(82,299)(96,973)(181,612)(194,366)Less: Net loss attributable to non-controlling interests— — — — Net loss attributable to Wheels Up Experience Inc.$(82,299)$(96,973)$(181,612)$(194,366)Net loss per share of Class A common stock:Basic and diluted$(0.12)$(0.14)$(0.26)$(0.28)Weighted-average shares of Class A common stock outstanding:Basic and diluted698,996,977697,458,966698,641,618697,403,388

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 June 30,Six Months Ended June 30,2025202420252024Net loss$(82,299)$(96,973)$(181,612)$(194,366)Other comprehensive income (loss):Foreign currency translation adjustments6,472 (98)9,578 (1,640)Comprehensive loss(75,827)(97,071)(172,034)(196,006)Less: Comprehensive loss attributable to non-controlling interests— — — — Comprehensive loss attributable to Wheels Up Experience Inc.$(75,827)$(97,071)$(172,034)$(196,006)

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 — — —