0001628280-26-016512
SEC filingWheels Up Experience Inc. reported a net loss of $294.2 million for fiscal year 2025, driven by an operating loss of $203.4 million on revenue of $736.5 million. The company's gross profit was $73.7 million, resulting in a gross margin of 10.0%. Operating cash flow was negative at $166.3 million, though investing activities generated $180.4 million primarily from aircraft sales. The balance sheet shows total assets of $968.8 million against total liabilities of $1.36 billion, resulting in negative stockholders' equity of $392.1 million. Key challenges include high operating expenses and significant debt levels, while aircraft divestitures provided liquidity.
Wheels Up Experience Inc. reported significant financial challenges for fiscal year 2025, with revenue of $736.5 million resulting in a net loss of $294.2 million. The company's operating loss was $203.4 million, reflecting substantial costs and expenses totaling $939.9 million. Gross profit was $73.7 million, representing a gross margin of 10.0%. The company's operating margin was negative 27.6%. Basic and diluted earnings per share were both reported as $0.00. Total assets stood at $968.8 million, while total liabilities were $1.36 billion, resulting in negative stockholders' equity of $392.1 million.
Revenue for fiscal year 2025 was $736.5 million. The document does not provide segment breakdowns, geographic mix, or specific growth drivers beyond the aggregate revenue figure. Cost of revenue was $662.8 million, representing 90.0% of total revenue. The company reported a gain on sale of aircraft held for sale of $51.8 million, which impacted the overall financial results but was not classified as operating revenue.
The company's gross margin was 10.0% for fiscal year 2025, calculated from revenue of $736.5 million and cost of revenue of $662.8 million. Operating margin was negative 27.6%, reflecting the operating loss of $203.4 million relative to revenue. Major expense categories included general and administrative expenses of $145.3 million, sales and marketing expenses of $88.6 million, technology and development expenses of $38.8 million, and depreciation and amortization of $61.2 million. Interest expense of $90.5 million further contributed to the net loss.
Operating activities used $166.3 million in cash, despite adjustments including depreciation and amortization of $61.2 million and equity-based compensation of $45.4 million. Investing activities provided $180.4 million, primarily from proceeds from sale of aircraft held for sale of $271.6 million, partially offset by purchases of property and equipment of $93.6 million. Financing activities used $98.5 million, with debt repayments of $210.0 million exceeding new debt proceeds of $65.7 million. The balance sheet shows cash and cash equivalents of $133.9 million, total current assets of $249.4 million, and total current liabilities of $907.6 million, resulting in negative working capital. Long-term debt net was $316.4 million.
The document does not provide specific management guidance, strategic priorities, or forward-looking statements regarding fiscal year 2026 performance. No quantitative or qualitative outlook information is disclosed in the provided financial data. Risk factors and strategic initiatives are not detailed in the extracted financial statements. The analysis is limited to the historical financial results for fiscal year 2025 as presented in the XBRL data.