Wheels Up Experience Inc.UPEarnings & Financial Report
Wheels Up is a provider of "on demand" private aviation in the United States and one of the largest private aviation companies in the world. It was founded in 2013 by Kenny Dichter, using a membership/on-demand business model. Wheels Up members can book private aircraft from the company fleet and third-party operators using a mobile application.
Revenue
$177.5M
Gross Profit
$19.1M
Operating Profit
$-80.8M
Net Profit
$-99.3M
Gross Margin
10.8%
Operating Margin
-45.5%
Net Margin
-55.9%
YoY Growth
-9.9%
EPS
$-0.14
Wheels Up Experience Inc. Q1 FY2025 Financial Summary
Wheels Up Experience Inc. reported revenue of $177.5M (down 9.9% YoY) for Q1 FY2025, with a net profit of $-99.3M (down 2.0% YoY) (-55.9% margin). Cost of goods sold was $158.4M, operating expenses totaled $99.9M.
Key Financial Metrics
| Total Revenue | $177.5M |
|---|---|
| Net Profit | $-99.3M |
| Gross Margin | 10.8% |
| Operating Margin | -45.5% |
| Report Period | Q1 FY2025 |
Wheels Up Experience Inc. Annual Revenue by Year
Wheels Up Experience Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $736.5M).
| Year | Annual Revenue |
|---|---|
| 2025 | $736.5M |
| 2024 | $792.1M |
| 2023 | $1.3B |
| 2022 | $1.6B |
Wheels Up Experience Inc. Quarterly Revenue & Net Profit History
Wheels Up Experience Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $183.8M | -10.2% | $-28.9M | -15.7% |
| Q3 FY2025 | $185.5M | -4.3% | $-83.7M | -45.1% |
| Q2 FY2025 | $189.6M | -3.4% | $-82.3M | -43.4% |
| Q1 FY2025 | $177.5M | -9.9% | $-99.3M | -55.9% |
| Q4 FY2024 | $204.8M | -16.9% | $-87.5M | -42.7% |
| Q3 FY2024 | $193.9M | -39.4% | $-57.7M | -29.8% |
| Q2 FY2024 | $196.3M | -41.4% | $-97.0M | -49.4% |
| Q1 FY2024 | $197.1M | -44.0% | $-97.4M | -49.4% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $197.1M | $196.3M | $193.9M | $204.8M | $177.5M | $189.6M | $185.5M | $183.8M |
| YoY Growth | -44.0% | -41.4% | -39.4% | -16.9% | -9.9% | -3.4% | -4.3% | -10.2% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $1.18B | $1.09B | $1.04B | $1.16B | $1.09B | $1.01B | $973.0M | $968.8M |
| Liabilities | $1.17B | $1.16B | $1.16B | $1.35B | $1.37B | $1.35B | $1.35B | $1.36B |
| Equity | $936000 | $-72.2M | $-117.7M | $-202.1M | $-288.1M | $-347.8M | $-374.5M | $-392.1M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-73.8M | $-25.2M | $-16.9M | $37.9M | $-47.9M | $-62.9M | $-37.1M | $-18.4M |