UP
Wheels Up Experience Inc.0.6889
+0.0189+2.82%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
497.18MP/E (TTM)
-Basic EPS (TTM)
-0.51Dividend Yield
0%Recent Filings
10-K
FY2025 results
Wheels Up narrowed FY2025 net loss to $294M from $340M in FY2024, with revenue dipping 7% to $736M amid an 11% drop in live flight legs, though flight revenue per leg rose 15% on premium jet mix. Q4 showcased fleet modernization momentum, hitting 40% premium jets (Challier 300/Embraer Phenom 300) via key sales/leases and a $24M gain from a 10-aircraft sale-leaseback yielding $30M net cash. Efficiency drives targeted $70M annual savings by Q3 2026; $47M ATM equity raised bolstered $134M cash. Q4 utility held steady at 41%, but GRP litigation risks deposit recovery.
8-K
Q4 net loss plunges 67%
Wheels Up reported Q4 2025 results on February 19, 2026, slashing net loss 67% to $29 million while posting first-ever positive Adjusted EBITDAR of $37 million, fueled by fleet transition, cost cuts toward $70 million run-rate, and record 99% completion rate. Revenue held flat at $184 million despite membership shifts, but Signature Memberships topped 600 sales. Fleet modernization finishes 2026.
8-K
Sale-leaseback boosts liquidity
Wheels Up signed a sale-leaseback for 3 Challenger 300s and 7 Phenom 300s to UMB Bank on December 22, 2025, expecting $104.7M sale price, $39.4M net cash after $65M debt repayment, and closure by December 31. It funds fleet modernization with no operational hit. Cash frees up borrowing for more aircraft buys. Risks hinge on closing conditions.
8-K
NYSE non-compliance notice
Wheels Up received an NYSE notice on December 17, 2025, for failing to maintain a $1.00 average closing share price over 30 trading days, triggering a six-month cure period. Stockholders previously approved a potential 1-for-5 to 1-for-20 reverse split; the board has not yet approved it. Trading continues under 'UP.BC'. No delisting yet, but success isn't assured.
10-Q
Q3 FY2025 results
Wheels Up's Q3 revenue dipped 4% y/y to $185.5M while YTD fell 6% to $552.7M, yet operating loss narrowed to $61.3M from $41.9M as cost controls kicked in amid fleet modernization. Diluted EPS swung wider to -$0.12 from -$0.08 on 703.8M shares, matching calculations; net loss exceeded operating by interest expense of $23.5M. Cash dropped to $125.3M with negative operating cash flow of $147.9M YTD, offset by $47.6M ATM proceeds, while total debt hit $766.5M (Revolving Equipment Notes at SOFR+1.75% due 2029, Term Loan at 10% due 2028) and $100M revolver available. Closed Non-Core Services divestiture in August 2025 for $21.5M net, recognizing $1.8M gain and $12.9M goodwill cut. Stock volatility persists.
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