---
schema_version: "secwatch.filing_event.v1"
accession: "0001819516-23-000055"
form_type: "8-K"
ticker: "UP"
cik: "0001819516"
company_name: "Wheels Up Experience Inc."
filed_at: "2023-11-09T23:59:59+00:00"
generated_at: "2026-06-08T07:27:50.637108+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Wheels Up Q3 revenue down 24% to $320M; secures $450M Delta-led capital; names new CEO

## Summary
- Revenue $320M, down 24% YoY; net loss $145M includes $56M non-cash goodwill impairment.
- Adjusted EBITDA loss $19M, improved $27M YoY; best profit performance since 2021.
- Secured $450M new capital from Delta Air Lines, Certares, Knighthead, Cox; $50M term loan in discussion.
- George Mattson, longtime Delta board member, appointed CEO; new directors from majority owners.
- Active members down 15% to 10,775; Live Flight Legs down 21% to 16,581.

## SEC filing metadata
- accession: 0001819516-23-000055
- form_type: 8-K
- ticker: UP
- cik: 0001819516
- company_name: Wheels Up Experience Inc.
- filed_at: 2023-11-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819516/000181951623000055/0001819516-23-000055-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819516/000181951623000055/up-20231109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001819516-23-000055
- JSON: https://secwatch.observer/filing/0001819516-23-000055.json
- Plain text: https://secwatch.observer/filing/0001819516-23-000055.txt

## Key facts
- Earnings Releases
  Wheels Up Experience Inc. reported the three months ended September 30, 2023 results: revenue $320,063, net income $(144,813).
  - Period: the three months ended September 30, 2023
  - Revenue: $320,063
  - Net income: $(144,813)
  - Result: reported results
  source text: Flight Leg) 2023 2022 % Change Active Users (1) 11,988 13,339 (10) % Live Flight Legs (1) 16,581 21,025 (21) % Flight revenue per Live Flight Leg 12,945 13,266 (2)% Revenue $ 320,063 $ 420,356 (24) % Net loss $ (144,813) $ (148,838) 3 % Adjusted EBITDA (1) $ (18,529) $ (45,229) 59 % Nine Months Ended September 30, (In thousands) 2023 2022 % Change Revenue $
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819516/000181951623000055/0001819516-23-000055-index.htm

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