Company: UP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001819516-25-000044
Chunk: 31

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 31
---
 flows from operating activitiesNet loss$(181,612)$(194,366)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization33,700 30,988 Equity-based compensation20,956 25,479 Payment in kind interest26,492 20,501 Amortization (accretion) of deferred financing costs and debt discount5,694 (1,328)Loss on extinguishment of debt60 2,511 (Gain) loss on sale of aircraft held for sale     (9,429)(5,208)(Gain) loss on disposal of assets, net(3,148)1,827 Impairment of right-of-use assets20,218 — Other(765)4,751 Changes in assets and liabilities:Accounts receivable(4,965)1,502 Parts and supplies inventories(857)2,635 Prepaid expenses1,686 20,204 Other non-current assets2,095 17,473 Accounts payable4,748 9,287 Accrued expenses2,731 (14,232)Deferred revenue(24,915)(21,378)Other assets and liabilities(3,493)398 Net cash used in operating activities(110,804)(98,956)Cash flows from investing activities:Purchases of property and equipment(30,465)(9,633)Capitalized software development costs(5,893)(7,825)Proceeds from sale of divested business, net— 5,903 Proceeds from sale of aircraft held for sale, net55,122 37,856 Other1,150 (2,208)Net cash provided by investing activities19,914 24,093 Cash flows from financing activities:Purchase of shares for treasury(195)(404)Proceeds from long-term debt19,551 — Repayments of long-term debt(36,898)(40,992)Payment of debt issuance costs(18)— Net cash used in financing activities(17,560)(41,396)Effect of exchange rate changes on cash, cash equivalents and restricted cash3,224 (1,175)Net decrease in cash, cash equivalents and restricted cash(105,226)(117,434)Cash, cash equivalents and restricted cash, beginning of period246,468 292,825 Cash, cash equivalents and restricted cash, end of period$141,242