Wheels Up Experience Inc

For the period ended Dec 31, 2024. Filed Mar 11, 2025.

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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.

FY2024 · Filed Mar 11, 2025

UP$2.46-10.9%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheets

	December 31, 2024	December 31, 2023
ASSETS
Current assets:
Cash and cash equivalents	$216,426	$263,909
Accounts receivable, net	32,316	38,237
Other receivables	1,182	11,528
Parts and supplies inventories, net	12,177	20,400
Aircraft inventory	—	1,862
Aircraft held for sale	35,663	30,496
Prepaid expenses	23,546	55,715
Other current assets	10,759	11,887
Total current assets	332,069	434,034
Property and equipment, net	348,339	337,714
Operating lease right-of-use assets	56,911	68,910
Goodwill	217,045	218,208
Intangible assets, net	96,904	117,766
Restricted cash	30,042	28,916
Other non-current assets	76,701	110,512
Total assets	$1,158,011	$1,316,060
LIABILITIES AND EQUITY
Current liabilities:
Current maturities of long-term debt	$31,748	$23,998
Accounts payable	29,977	32,973
Accrued expenses	89,484	102,475
Deferred revenue, current	749,432	723,246
Operating lease liabilities, current	13,953	22,869
Intangible liabilities, current	1,525	1,525
Other current liabilities	1,165	416
Total current liabilities	917,284	907,502
Long-term debt, net	376,308	235,074
Deferred revenue, non-current	180	983
Operating lease liabilities, non-current	50,810	54,956
Warrant liability	20	12
Intangible liabilities, non-current	9,152	10,677
Other non-current liabilities	485	6,983
Total liabilities	1,354,239	1,216,187
Commitments and contingencies (Note 14)
Mezzanine equity:
Executive performance award	5,881	2,476
Total mezzanine equity	5,881	2,476
Stockholders’ equity:

Common stock, $0.0001 par value; 1,500,000,000 authorized; 698,342,097 and 697,131,838 shares issued and 697,902,646 and 696,856,131 common shares outstanding as of as of December 31, 2024 and December 31, 2023, respectively	70	70
Additional paid-in capital	1,921,581	1,879,009
Accumulated deficit	(2,102,895)	(1,763,260)
Accumulated other comprehensive loss	(12,662)	(10,704)
Treasury stock, at cost, 439,451 and 275,707 shares, respectively	(8,203)	(7,718)
Total Wheels Up Experience Inc. stockholders’ equity	(202,109)	97,397
Non-controlling interests	—	—
Total stockholders’ equity	(202,109)	97,397
Total liabilities and equity	$1,158,011	$1,316,060

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.