Wheels Up Experience Inc
For the period ended Dec 31, 2023. Filed Mar 7, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 7, 2024
UP$2.46-10.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations
(In thousands, except share and per share data)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Revenue | $1,253,317 | $1,579,760 | $1,194,259 |
| Costs and expenses: | |||
| Cost of revenue (exclusive of items shown separately below) | 1,232,506 | 1,540,325 | 1,117,633 |
| Technology and development | 61,873 | 57,240 | 33,579 |
| Sales and marketing | 88,828 | 117,110 | 80,071 |
| General and administrative | 145,873 | 183,531 | 113,331 |
| Depreciation and amortization | 58,533 | 65,936 | 54,198 |
| Gain on sale of aircraft held for sale | (16,939) | (4,375) | (1,275) |
| Impairment of goodwill | 126,200 | 180,000 | — |
| Total costs and expenses | 1,696,874 | 2,139,767 | 1,397,537 |
| Loss from operations | (443,557) | (560,007) | (203,278) |
| Other income (expense): | |||
| Change in fair value of warrant liability | 739 | 9,516 | 17,951 |
| Loss on divestiture | (2,991) | — | — |
| Loss on extinguishment of debt | (4,401) | — | (2,379) |
| Interest income | 6,121 | 3,670 | 53 |
| Interest expense | (41,255) | (7,515) | (9,519) |
| Other expense, net | (660) | (1,041) | — |
| Total other income (expense) | (42,447) | 4,630 | 6,106 |
| Loss before income taxes | (486,004) | (555,377) | (197,172) |
| Income tax expense | (1,383) | (170) | (58) |
| Net loss | (487,387) | (555,547) | (197,230) |
| Less: Net loss attributable to non-controlling interests | — | (387) | (7,210) |
| Net loss attributable to Wheels Up Experience Inc. | $(487,387) | $(555,160) | $(190,020) |
| Net loss per share of Common Stock: | |||
| Basic and Diluted | $(3.69) | $(22.60) | $(9.28) |
| Weighted-average shares of Common Stock outstanding: | |||
| Basic and Diluted | 132,194,747 | 24,567,164 | 20,478,090 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.