Flyexclusive vs Wheels Up Experience
Wheels Up Experience is the larger business, with $736m of revenue in fiscal 2025 against $376m for Flyexclusive (2.0 times as much). Flyexclusive grew faster (14.9% against -7.0%). Flyexclusive kept more of each dollar of sales as profit: a net margin of -4.7% against -39.9%.
| Latest fiscal year | FlyexclusiveFLYX, 2025 | Wheels Up ExperienceUP, 2025 |
|---|---|---|
| Revenue | $376m | $736m |
| Revenue growth | 14.9% | -7.0% |
| Net income | −$17.6m | −$294m |
| Operating margin | -12.6% | -27.6% |
| Net margin | -4.7% | -39.9% |
| Return on equity | — | — |
| Free cash flow | −$24.3m | −$260m |
| Cash | $29.3m | $134m |
| Total debt | $117m | $671m |
| Debt to equity | — | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $1.6m |
| Employees | — | 1,250 |
| Market value | $51.4m | $120m |
| Price vs our value range | — | — |
| Moat score | — | 22 (Weak) |
| Insider trades, 12 months | 3 buys, 0 sales | 4 buys, 12 sales |