secwatch.observer — SEC 8-K summary
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Issuer:     Wheels Up Experience Inc. (UP)
CIK:        0001819516
Form:       8-K/A
Filed at:   2026-10-09T21:27:20+00:00
Accession:  0001628280-26-065562
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Wheels Up amends 2Q26 earnings materials; FY2025 Adjusted EBITDA restated to -$95.1M from -$43.5M
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- FY2025 Adjusted EBITDA (updated definition) revised to -$95.1M from -$43.5M as previously reported; FY2024 revised to -$119.2M from -$117.9M.
- Q4 2025 Adjusted EBITDA swings to -$6.3M from +$32.9M, driven by a $39.3M gain on sale of aircraft held for sale added as a reconciliation adjustment.
- Company says errors came from 'Loss on extinguishment of debt' deducted rather than added, and from double-counting amounts already in Q4/FY2024 'Fleet modernization expense'.
- Adjusted EBITDAR (updated definition) for FY2025 revised to -$78.3M from -$26.7M; FY2024 revised to -$85.9M from -$84.6M.
- The 2Q 2026 Form 10-Q is not being amended; Wheels Up states the Q2 2026 unaudited financial statements and non-GAAP measures are unaffected.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819516/000162828026065562/0001628280-26-065562-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819516/000162828026065562/up-20260731.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-065562

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