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Wheels Up Experience Inc.

Wheels Up Experience Inc.

NYSE•UP
CEO: Mr. George Nathaniel Mattson
Sector: Industrials
Industry: Airlines, Airports & Air Services
Listing Date: 2020-11-18
Wheels Up Experience Inc. provides private aviation services in the United States and internationally. The company offers membership programs consisting of Connect that offers members variable dynamic pricing on a per trip basis and flexibility on their schedule; Core for private flyers; and UP for Business for small and medium enterprise, and large corporate customers for whom it is primary provider of private flights, as well as supplementary solution to their own aircraft operations. It also provides charter flight solutions for passenger groups, sports teams, corporate event, and tour operations, as well as global passenger, cargo, emergency, and government services; wholesale and group charter services; maintenance, repair, and operations services; fixed-base operator services; safety and security services; and government, defense, emergency, and medical transport missions. It serves individuals, small and medium enterprises, and corporate customers. As of December 31, 2023, the company operated a fleet of 185 owned and leased aircraft. Wheels Up Experience Inc. was founded in 2013 and is headquartered in Chamblee, Georgia.
Contact Information
2135 American Way, Chamblee, GA, 30341, United States
212-257-5252
www.wheelsup.com
Market Cap
$710.09M
P/E (TTM)
-1.9
21.2
Dividend Yield
--
52W High
$3.50
52W Low
$0.56
52W Range
14%
Rank68Top 98.2%
1.3
F-Score
Modified Piotroski Analysis
Based on 7-year fundamentals
Weak • 1.3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2019-2025

Financial Dashboard

Q3 2025 Data

Revenue

$185.49M-4.34%
4-Quarter Trend

EPS

-$0.12+45.10%
4-Quarter Trend

FCF

-$63.65M+168.09%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Gross Bookings Increased Total Gross Bookings reached $770.5M for nine months, increasing 6% compared to prior period.
Asset Utilization Improved Asset utilization improved significantly; Utility metric rose 13% to 43.1 hours for the nine months ended September 30.
Signature Membership Launched New Signature Membership launched September 2025, providing members access to premium Challenger 300/Phenom 300 aircraft.
Cost Savings Initiatives Underway Implementing initiatives targeting $70M annual cash cost savings, expecting full impact reflected beginning Q3 2026.

Risk Factors

Revenue Declined Six Percent Nine-month Total Revenue decreased 6% to $552.7M, primarily due to Membership revenue contraction.
Net Loss Widened Significantly Net loss attributable to Wheels Up widened 45% to $(83.7M) for the three months ended September 30, 2025.
Operating Cash Flow Negative Net cash used in operating activities totaled $(147.9M) for the nine months ended September 30, 2025.
Flight Legs Contracting Live Flight Legs declined 8% to 34,459 for the nine months, despite higher revenue per leg.

Outlook

Fleet Modernization Nearing Goal Expect approximately 50% of controlled jet fleet to consist of premium Bombardier/Embraer aircraft by end of 2025.
Liquidity Funded by Multiple Sources Liquidity needs expected to be met by cash, operating flows, ATM program, and Revolving Equipment Notes borrowings.
Brand Unification Strategy Unifying Wheels Up and Air Partner sales teams toward a 'trusted advisor' model selling tailored aviation solutions.
Investor Lock-Up Extended Lead Investors extended Common Stock lock-up restriction until May 22, 2026 via Third Investor Rights Amendment.

Peer Comparison

Revenue (TTM)

JetBlue Airways CorporationJBLU
$9.10B
-2.5%
Frontier Group Holdings, Inc.ULCC
$3.73B
+1.8%
BrightView Holdings, Inc.BV
$2.67B
-3.4%

Gross Margin (Latest Quarter)

PROG Holdings, Inc.PRG
100.0%
+66.2pp
Frontier Group Holdings, Inc.ULCC
45.4%
+18.8pp
JetBlue Airways CorporationJBLU
45.1%
+19.8pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
JBLU$1.96B-4.2-19.2%56.8%
RDW$1.93B-5.8-41.6%23.1%
ALGT$1.65B-5.5-27.4%48.4%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-3.3%
Flat Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
25%
Cash Flow Needs Attention

Research & Insights

Next earnings:Mar 10, 2026
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EPS:-
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 5, 2025|
    Revenue: $185.49M-4.3%
    |
    EPS: $-0.12+45.1%
    N/A
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 7, 2025|
    Revenue: $189.64M-3.4%
    |
    EPS: $-0.12-14.3%
    N/A
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 5, 2025|
    Revenue: $177.53M-9.9%
    |
    EPS: $-0.14+0.0%
    N/A
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 11, 2025|
    Revenue: $792.10M-36.8%
    |
    EPS: $-0.49+69.0%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 7, 2024|
    Revenue: $193.90M-39.4%
    |
    EPS: $-0.08-97.6%
    Meet
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 8, 2024|
    Revenue: $196.29M-41.4%
    |
    EPS: $-0.14-97.8%
    Meet
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 9, 2024|
    Revenue: $197.10M-44.0%
    |
    EPS: $-0.14-96.5%
    Meet
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 7, 2024|
    Revenue: $1.25B-20.7%
    |
    EPS: $-1.58+93.0%
    Beat