secwatch.observer — SEC 8-K summary
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Issuer:     Wheels Up Experience Inc. (UP)
CIK:        0001819516
Form:       8-K
Filed at:   2023-03-09T23:59:59+00:00
Accession:  0001819516-23-000007
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819516/000181951623000007/0001819516-23-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819516/000181951623000007/up-20230309.htm
  HTML page:      https://secwatch.observer/filing/0001819516-23-000007

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer