Wheels Up Experience Inc. income statement

In fiscal 2025, Wheels Up Experience Inc. reported revenue of $736m, down 7.0% on the year before, operating income of −$203m (a -27.6% margin) and net income of −$294m, or −$0.42 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Wheels Up Experience Inc.: income statement, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Revenue	385	695	1,194	1,580	1,253	792	736	720
Cost of revenue	341	635	1,118	1,540	1,233	733	663	650
Gross profit	44	60	77	39	21	59	74	70
Research and development	14	21	34	57	62	41	39	36
Selling and marketing	41	55	80	117	89	84	89	91
General and administrative	28	65	113	184	146	138	145	117
Operating income	−78	−63	−203	−560	−444	−259	−203	−195
Interest expense	29	23	10	8	41	65	90	107
Income before tax	−107	−85	−197	−555	−486	−338	−291	−300
Income tax	0	0	0	0	1	1	4	3
Net income	−96	−79	−190	−555	−487	−340	−294	−303
Diluted EPS	−$1.86	−$0.96	−$1.86	−$4.52	−$0.74	−$0.49	−$0.42	—
Diluted shares (average)	52m	81m	102m	123m	661m	698m	706m	—
EBITDA	−40	−22	−169	−517	−406	−202	−142	−139

US$ millions unless shown otherwise. Fiscal quarters.

Wheels Up Experience Inc.: income statement, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Revenue	194	205	178	190	185	184	169	182
Cost of revenue	167	176	158	174	173	157	159	160
Gross profit	27	29	19	16	13	26	10	22
Research and development	10	9	11	9	10	9	9	9
Selling and marketing	20	21	22	24	22	20	22	27
General and administrative	27	38	57	30	32	26	27	32
Operating income	−42	−53	−81	−60	−61	−2	−57	−74
Interest expense	16	18	20	22	24	25	25	33
Income before tax	−57	−87	−99	−81	−82	−28	−82	−107
Income tax	0	0	0	1	1	1	1	−0
Net income	−58	−88	−99	−82	−84	−29	−83	−107
Diluted EPS	−$1.60	−$0.13	−$2.84	−$2.35	−$2.40	−$0.04	−$2.29	−$2.97
EBITDA	−38	−11	−72	−55	−56	41	−54	−70

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Wheels Up Experience Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Wheels Up Experience Inc.