Wheels Up Q1 revenue down 44% to $197M; net loss improves slightly to $97M

Wheels Up Experience Inc.

2024-Q1 EPS reported -$0.14 revenue$197,101,000

Revenue $197M vs $352M YoY; decline driven by exiting aircraft management and sales businesses.
Net loss of $97M, improved from $101M YoY; Adjusted EBITDA loss of $49M flat YoY.
Active members 9,155 (-25% YoY); Live flight legs 11,754 (-24% YoY).
Operational metrics: Completion Rate 98%, On-Time Performance 87% both exceeding goals.
Appointed David Harvey as CCO; plans new flagship maintenance facility at Palm Beach International.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Wheels Up Experience Inc. reported the first quarter, which ended March 31, 2024 results: revenue $197,101, net income $(97,393).

Period: the first quarter, which ended March 31, 2024
Revenue: $197,101
Net income: $(97,393)
Result: reported results

Exact text from the filing

$ 66,528 33 % Other Charter FTV 32,911 31,083 6 % Total Charter FTV $ 121,599 $ 97,611 25 % On-Time Performance (D-60) 87 % 86 % 1 % Completion Rate 98 % 98 % — % Revenue $ 197,101 $ 351,812 (44) % Net loss $ (97,393) $ (100,866) 3 % Adjusted EBITDA $ (49,229) $ (48,915) (1) % __________________ (1) For information regarding Wheels Up’s use and

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Source: SEC EDGAR

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