secwatch.observer — SEC 8-K summary
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Issuer:     Wheels Up Experience Inc. (UP)
CIK:        0001819516
Form:       8-K
Filed at:   2024-03-07T23:59:59+00:00
Accession:  0001819516-24-000009
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wheels Up Q4 revenue sinks 40% to $246M; net loss narrows to $81M
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- Total revenue $246M, down $162M YoY; net loss $81M, improved from $225M.
- Adjusted EBITDA loss improved 13% to $38M from $44M; adjusted contribution $3M vs $19M.
- Active members fell 21% to 9,947; live flight legs down 26% to 14,374.
- Secured additional $40M capital from Kore Capital and Whitebox Advisors; total new capital $490M.
- Introduced UP for Business program jointly sold with Delta; added aviation experience leadership.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819516/000181951624000009/0001819516-24-000009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819516/000181951624000009/up-20240307.htm
  HTML page:      https://secwatch.observer/filing/0001819516-24-000009

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