---
schema_version: "secwatch.filing_event.v1"
accession: "0001819516-23-000007"
form_type: "8-K"
ticker: "UP"
cik: "0001819516"
company_name: "Wheels Up Experience Inc."
filed_at: "2023-03-09T23:59:59+00:00"
generated_at: "2026-06-18T07:31:52.079411+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Wheels Up Q4 revenue +18% to $408M; net loss $239M on $132M impairment; Briffa named CCO

## Summary
- Q4 revenue $408M (+18% YoY); full-year revenue $1.58B (+32% YoY).
- Q4 net loss $239M (includes $132M non-cash impairment); Adj. EBITDA loss $44M, improved $3M YoY.
- Active Members 12,661 (+5%); Live Flight Legs 19,308 (-5%); Flight revenue per leg $14,178 (+14%).
- Expects $30M annualized cost savings from headcount reductions; targeting positive Adj. EBITDA in 2024.
- Mark Briffa appointed EVP & Chief Commercial Officer, effective March 1, to lead global sales integration.

## SEC filing metadata
- accession: 0001819516-23-000007
- form_type: 8-K
- ticker: UP
- cik: 0001819516
- company_name: Wheels Up Experience Inc.
- filed_at: 2023-03-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819516/000181951623000007/0001819516-23-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819516/000181951623000007/up-20230309.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001819516-23-000007
- JSON: https://secwatch.observer/filing/0001819516-23-000007.json
- Plain text: https://secwatch.observer/filing/0001819516-23-000007.txt

## Key facts
- Earnings Releases
  Wheels Up Experience Inc. reported the fiscal year ended December 31, 2022 results: revenue $1.6 billion, net income $(507,547).
  - Period: the fiscal year ended December 31, 2022
  - Revenue: $1.6 billion
  - Net income: $(507,547)
  - Result: reported results
  source text: backed by loyal customers who continue to spend at significant levels with us. Over the past decade, our team has proven that we can deliver robust growth with record revenue of $1.6 billion in 2022,” said Chairman and CEO Kenny Dichter. “With that strong base of business, our focus is now on delivering world-class service profitably.” “Our strong top line and our
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819516/000181951623000007/0001819516-23-000007-index.htm
- Earnings Releases
  Wheels Up Experience Inc. reported the fourth quarter, which ended December 31, 2022 results: revenue $408 million, net income $239 million.
  - Period: the fourth quarter, which ended December 31, 2022
  - Revenue: $408 million
  - Net income: $239 million
  - Result: reported results
  source text: Fourth Quarter 2022 Highlights • Revenue increased 18% year-over-year to $408 million • Active Members increased 5% year-over-year to 12,661 in total • Live Flight Legs decreased 5% year-over-year to 19,308 in total • Net loss increased $162 million year-over-year, primarily driven by a non-cash impairment charge of $132 million, to $239 million • Adjusted EBITDA improved by $3 million year-over-year to a loss of $44 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819516/000181951623000007/0001819516-23-000007-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.