UP · XBRL financial data

Wheels Up Experience financial statements, every quarter

The same tables from 12 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal quarters (UP's year ends in late December)

In millions of dollars	Q3 FY23Sep 30, 2023	Q4 FY23Dec 31, 2023	Q1 FY24Mar 31, 2024	Q2 FY24Jun 30, 2024	Q3 FY24Sep 30, 2024	Q4 FY24Dec 31, 2024	Q1 FY25Mar 31, 2025	Q2 FY25Jun 30, 2025	Q3 FY25Sep 30, 2025	Q4 FY25Dec 31, 2025	Q1 FY26†Mar 31, 2026	Q2 FY26†Jun 30, 2026
Revenue from contracts with customers	320	246*	197	196	194	205*	178	190	185	184*	169	182
Cost of revenue	300	251*	198	192	167	176*	158	174	173	157*	159	160
Research and development	20	12*	11	11	10	9*	11	9	10	9*	9	9
General and administrative	43	24*	36	36	27	38*	57	30	32	26*	27	32
Operating income (loss)	(129)	(65)*	(83)	(79)	(42)	(55)*	(81)	(60)	(61)	(2)*	(57)	(74)
Interest expense	11	14*	15	17	16	18*	20	22	24	25*	25	33
Other income (expense)	1	0*	(0)	(0)	(0)	(0)*	0	(0)	0	(1)*	(0)	(0)
Income tax expense (benefit)	1	1*	(0)	0	0	0*	0	1	1	1*	1	(0)
Net income (loss)	(145)	(81)*	(97)	(97)	(58)	(88)*	(99)	(82)	(84)	(29)*	(83)	(107)
Earnings per share, basic‡ USD per share	(70.20)	—	(2.80)	(2.80)	(1.60)	(2.60)*	(2.80)	(2.40)	(2.40)	(0.80)*	(45.80)	(2.97)
Earnings per share, diluted‡ USD per share	(70.20)	—	(2.80)	(2.80)	(1.60)	(2.60)*	(2.80)	(2.40)	(2.40)	(0.80)*	(45.80)	(2.97)
Weighted average shares, basic‡ millions of shares	2	—	35	35	35	35*	35	35	35	36*	2	36
Weighted average shares, diluted‡ millions of shares	2	—	35	35	35	35*	35	35	35	36*	2	36

‡ Per-share figures and share counts are adjusted for the 1-for-20 stock split (April 2026); filings made before it reported them unadjusted.
† Share count changed about 1/20 in the period ending 2026-03-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
† Share count changed about 20x in the period ending 2026-06-30, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.

Balance sheet

CSV

Fiscal quarters (UP's year ends in late December)

In millions of dollars	Q3 FY23Sep 30, 2023	Q4 FY23Dec 31, 2023	Q1 FY24Mar 31, 2024	Q2 FY24Jun 30, 2024	Q3 FY24Sep 30, 2024	Q4 FY24Dec 31, 2024	Q1 FY25Mar 31, 2025	Q2 FY25Jun 30, 2025	Q3 FY25Sep 30, 2025	Q4 FY25Dec 31, 2025	Q1 FY26†Mar 31, 2026	Q2 FY26†Jun 30, 2026
Cash and cash equivalents	245	264	181	141	116	216	172	107	125	134	54	86
Accounts receivable	47	38	42	34	32	32	42	39	32	24	32	28
Inventory	24	20	21	21	23	12	13	12	9	12	2	2
Total current assets	410	434	333	289	271	332	299	234	248	249	165	222
Property and equipment, net	362	338	322	287	267	348	333	318	305	220	264	223
Right-of-use asset	74	69	63	60	55	57	35	32	28	112	108	105
Goodwill	215	218	218	218	222	217	219	224	210	210	209	209
Total assets	1,328	1,316	1,181	1,086	1,043	1,158	1,091	1,006	973	969	916	927
Accounts payable	26	33	46	42	35	30	38	35	31	20	23	27
Accrued liabilities	101	102	90	88	94	89	85	96	101	104	93	82
Current portion of long-term debt	25	24	22	21	30	32	32	32	30	19	22	21
Total current liabilities	869	908	879	874	888	917	925	902	888	908	854	785
Long-term debt	235	235	223	219	210	376	383	391	394	316	400	581
Lease liability, non-current	59	55	51	50	48	51	53	51	47	121	116	112
Total liabilities	1,182	1,216	1,169	1,157	1,157	1,354	1,371	1,353	1,348	1,361	1,382	1,487
Accumulated deficit	(1,682)	(1,763)	(1,861)	(1,958)	(2,015)	(2,103)	(2,202)	(2,285)	(2,368)	(2,397)	(2,480)	(2,587)
Total stockholders' equity	145	97	1	(72)	(118)	(202)	(288)	(348)	(375)	(392)	(466)	(560)
Total liabilities and equity	1,328	1,316	1,181	1,086	1,043	1,158	1,091	1,006	973	969	916	927
Common shares outstanding (cover page)‡ millions of shares	8	35	35	35	35	35	35	35	36	36	2	36

‡ Per-share figures and share counts are adjusted for the 1-for-20 stock split (April 2026); filings made before it reported them unadjusted.
† Share count changed about 1/20 in the period ending 2026-03-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
† Share count changed about 20x in the period ending 2026-06-30, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.

Cash flows

CSV

Fiscal quarters (UP's year ends in late December)

In millions of dollars	Q3 FY23Sep 30, 2023	Q4 FY23Dec 31, 2023	Q1 FY24Mar 31, 2024	Q2 FY24Jun 30, 2024	Q3 FY24Sep 30, 2024	Q4 FY24Dec 31, 2024	Q1 FY25Mar 31, 2025	Q2 FY25Jun 30, 2025	Q3 FY25Sep 30, 2025	Q4 FY25Dec 31, 2025	Q1 FY26†Mar 31, 2026	Q2 FY26†Jun 30, 2026
Net income (loss)	(145)	(81)*	(97)	(97)	(58)	(88)*	(99)	(82)	(84)	(29)*	(83)	(107)
Stock-based compensation	4*	4*	11	14*	8*	13*	13	8*	12*	12*	11	13*
Depreciation and amortization	10	8*	6	5	4	—	9	5	5	—	4	4
Net cash from operating activities	(250)*	(4)*	(74)	(27)*	(15)*	38*	(48)	(63)*	(37)*	(18)*	(100)	(92)*
Purchases of property and equipment	0*	8*	4	6*	5*	108*	15	16*	23*	40*	62	53*
Net cash from investing activities	38*	4*	20	4*	2*	(73)*	16	4*	23*	137*	(39)	(28)*
Proceeds from issuing common stock	—	—	—	—	—	—	—	—	—	(0)*	—	—
Share repurchases	(0)*	0*	0	0*	0*	(0)*	0	0*	1*	1*	0	0*
Proceeds from long-term debt	—	39*	0	0*	0*	327*	10	10*	14*	32*	101	252*
Repayments of long-term debt	22*	19*	24	17*	11*	194*	18	18*	32*	141*	37	100*
Net cash from financing activities	302*	18*	(24)	(17)*	(12)*	132*	(9)	(9)*	29*	(110)*	63	150*
Net change in cash	86*	19*	(80)	(40)*	(25)*	98*	(39)	(66)*	15*	9*	(76)	31*

† Share count changed about 1/20 in the period ending 2026-03-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
† Share count changed about 20x in the period ending 2026-06-30, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.

Compare with peers

SIC 4522 and related industry codes, similar size; rows marked “added: same SIC” fill a short list. Each row is the latest quarter reported.

How peers are chosen

SIC 4522 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Fewer than three companies fall in that range, so the list adds same-SIC (4522) companies nearest in public float, each marked “added: same SIC”.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
A cell reading “not reported” means the filings give no figure for that quarter alone.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Runway	Quarter
Wheels Up Experience	86	182	(92)*	36.3M	0.9 quarters	Q2 FY26 10-QJun 30, 2026
Surf Air Mobility	18	not reported	(1.2)*	119.1M	16.0 quarters	Q2 FY26 10-QJun 30, 2026
Bristow Groupadded: same SIC	312	412	41*	29.6M	—	Q2 FY26 10-QJun 30, 2026
Flyexclusiveadded: same SIC	14	111	2.7*	49.9M	—	Q2 FY26 10-QJun 30, 2026
Jet.AIadded: same SIC	11	5.3	(2.7)*	3.6M	4.0 quarters	Q2 FY26 10-QJun 30, 2026
Volato Groupadded: same SIC	0	0.2	(0.3)*	53.6M	—	Q2 FY26 10-QJun 30, 2026
Creatdadded: same SIC	0.3	0.2	not reported	3.3M	—	Q2 FY26 10-QJun 30, 2026
Star Jets Internationaladded: same SIC	not reported	not reported	not reported	not reported	—	—

Not investment advice. Not affiliated with the U.S. SEC.