Wheels Up Q3 revenue $194M, net loss narrows to $58M; record adjusted contribution margin 14.8%

Wheels Up Experience Inc.

2024-Q3 EPS reported -$0.36 revenue$587,289,000

Revenue $194M, down YoY due to non-core business sales, but stable sequentially; net loss $58M improved $87M YoY.
Adjusted Contribution Margin 14.8% (record as public company), up 380bps YoY and 700bps sequentially.
Adjusted EBITDA loss $20M, improved $17M sequentially; operating cash outflow $15M improved 94% vs $250M last year.
Fleet modernization plan to replace existing jets with Embraer Phenom 300 and Bombardier Challenger 300 series platforms.
New revolving credit facility with Delta Air Lines support expected to strengthen balance sheet and accelerate fleet transition.

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