UP · Wheels Up Experience Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $736.50M | $792.10M | $1.25B | $1.19B | $694.98M | - |
| Cost of Revenue | $662.75M | $733.08M | $1.23B | $1.12B | $634.77M | - |
| Gross Profit | $73.74M | $59.03M | $20.81M | $76.63M | $60.21M | - |
| R&D | $38.76M | $40.69M | $61.87M | $33.58M | $21.01M | - |
| SG&A | $145.30M | $137.59M | $145.87M | $113.33M | $64.89M | - |
| Total Operating Expenses | $939.91M | $1.05B | $1.70B | $1.40B | $757.95M | - |
| D&A | $61.17M | $56.55M | $37.10M | $43.50M | $40.80M | - |
| Operating Income | ($203.41M) | ($258.79M) | ($443.56M) | ($560.01M) | ($62.97M) | - |
| Interest Expense | $90.47M | $65.35M | $41.26M | $7.51M | $22.99M | - |
| Income Tax | $3.50M | $1.23M | $1.38M | $170.0K | $0 | - |
| Net Income | ($294.22M) | ($339.63M) | ($487.39M) | ($190.02M) | ($78.64M) | - |
| EPS - Basic | ($8.40) | ($9.80) | ($73.80) | ($452.00) | ($96.00) | - |
| EPS - Diluted | ($8.40) | ($9.80) | ($73.80) | ($452.00) | ($96.00) | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $133.93M | $216.43M | $263.91M | $585.88M | $784.57M | $719.9K |
| Accounts Receivable | $24.25M | $32.32M | $38.24M | $112.38M | $79.40M | - |
| Inventory | $11.59M | $12.18M | $20.40M | $29.00M | $9.41M | - |
| Accounts Payable | $20.44M | $29.98M | $32.97M | $43.17M | $43.67M | - |
| Current Assets | $249.36M | $332.07M | $434.03M | $819.62M | $933.07M | $1.33M |
| Total Assets | $968.81M | $1.16B | $1.32B | $1.92B | $1.98B | $241.12M |
| Current Liabilities | $907.56M | $917.28M | $907.50M | $1.34B | $1.14B | $1.48M |
| Long-term Debt | $316.36M | $376.31M | $235.07M | $226.23M | $0 | - |
| Total Liabilities | $1.36B | $1.35B | $1.22B | $1.67B | $1.24B | $9.88M |
| Stockholders' Equity | ($392.10M) | ($202.11M) | $97.40M | $251.92M | $730.15M | $5.00M |
| Retained Earnings | ($2.40B) | ($2.10B) | ($1.76B) | ($1.28B) | ($720.71M) | ($1.55M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($166.29M) | ($77.89M) | ($665.28M) | ($230.69M) | $209.64M | - |
| Investing Cash Flow | $180.37M | ($46.68M) | $40.87M | ($175.24M) | $81.58M | - |
| Financing Cash Flow | ($98.51M) | $78.66M | $300.95M | $244.79M | ($62.79M) | - |
| CapEx | $93.63M | $122.81M | $20.17M | $83.56M | $7.11M | - |
| Free Cash Flow | ($259.92M) | ($200.70M) | ($685.45M) | ($314.25M) | $202.53M | - |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 10.0% | 7.5% | 1.7% | 6.4% | 8.7% | - |
| Operating margin | -27.6% | -32.7% | -35.4% | -46.9% | -9.1% | - |
| EBITDA margin | -19.3% | -25.5% | -32.4% | -43.2% | -3.2% | - |
| Net margin | -39.9% | -42.9% | -38.9% | -15.9% | -11.3% | - |
| Free cash flow margin | -35.3% | -25.3% | -54.7% | -26.3% | 29.1% | - |
| FCF / Net income | 0.88 | 0.59 | 1.41 | 1.65 | -2.58 | - |
| R&D / Revenue | 5.3% | 5.1% | 4.9% | 2.8% | 3.0% | - |
| SG&A / Revenue | 19.7% | 17.4% | 11.6% | 9.5% | 9.3% | - |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -30.4% | -29.3% | -37.0% | -9.9% | -4.0% | - |
| Return on equity | 75.0% | 168.0% | -500.4% | -75.4% | -10.8% | - |
| Return on invested capital | - | -117.4% | -105.4% | -92.5% | -6.8% | - |
| Liquidity | ||||||
| Current ratio | 0.27 | 0.36 | 0.48 | 0.61 | 0.82 | 0.90 |
| Quick ratio | 0.26 | 0.35 | 0.46 | 0.59 | 0.81 | 0.90 |
| Cash ratio | 0.15 | 0.24 | 0.29 | 0.44 | 0.69 | 0.48 |
| Leverage | ||||||
| Debt / Equity | -0.81 | -1.86 | 2.41 | 0.90 | 0.00 | - |
| Debt / Assets | 0.33 | 0.32 | 0.18 | 0.12 | 0.00 | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | -2.2x | -4.0x | -10.8x | -74.5x | -2.7x | - |
| Equity multiplier | -2.47 | -5.73 | 13.51 | 7.63 | 2.71 | 48.22 |
| Liabilities / Assets | 1.40 | 1.17 | 0.92 | 0.87 | 0.63 | 0.04 |
| Efficiency | ||||||
| Asset turnover | 0.76 | 0.68 | 0.95 | 0.62 | 0.35 | - |
| Inventory turnover | 57.20 | 60.20 | 60.42 | 38.54 | 67.46 | - |
| Days sales outstanding | 12d | 15d | 11d | 34d | 42d | - |
| Days inventory outstanding | 6d | 6d | 6d | 9d | 5d | - |
| Days payable outstanding | 11d | 15d | 10d | 14d | 25d | - |
| Cash conversion cycle | 7d | 6d | 7d | 30d | 22d | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | 93.1x | 200.9x | 206.5x | - |
| P / S | 12.6x | 29.1x | 7.2x | 42.4x | 217.0x | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | -7.0% | -36.8% | 4.9% | 71.8% | - | - |
| Revenue CAGR (3y) | -14.9% | 4.5% | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - |
| Gross profit growth (YoY) | 24.9% | 183.6% | -72.8% | 27.3% | - | - |
| Operating income growth (YoY) | 21.4% | 41.7% | 20.8% | -789.4% | - | - |
| Net income growth (YoY) | 13.4% | 30.3% | -156.5% | -141.6% | - | - |
| EPS growth (YoY) | 14.3% | 86.7% | 83.7% | -370.8% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | -29.5% | 70.7% | -118.1% | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | -94.0% | - | -61.3% | -65.5% | 14503.0% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$2.50M totalFlight Related Services$2.50M · 100.0%
Geographic
$736.50M totalUS$641.04M · 87.0%
Non Us$95.45M · 13.0%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-2.60
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✗Net income positive
- ✗Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Air Transportation, Nonscheduled
Comparing Wheels Up Experience Inc. against the 5 most active filers in the same SIC group.