Filing Flows › Wheels Up Experience (UP) › Q1 2025
Wheels Up Experience (UP) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 5, 2025
Wheels Up Experience (UP) reported revenue of $178M for the first quarter 2025 (Q1 2025), -10% from a year earlier and -13% from the quarter before. Operating margin was -45.5%, net loss $99.3M (55.9% of revenue).
Wheels Up Experience, Q1 2025: revenue $178M (-10% year over year), operating margin -45.5%, net loss $99.3M, operating cash flow −$47.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $178M | -13% | -10% |
| Operating profit | −$80.8M | — | — |
| Net earnings | −$99.3M | — | — |
| Operating cash flow | −$47.9M | — | — |
What changed
Revenue was $177.5M in Q1 2025, down 10% year over year and down 13% from the previous quarter.
Operating costs exceeded revenue by $80.8M, an operating margin of -45.5%. Total costs fell 8% while revenue fell 10%. The fastest-growing cost line was General & admin (+57%). The quarter ended with a net loss of $99.3M, wider than the previous quarter's $87.5M loss.
Operating cash flow was −$47.9M. Non-cash charges added back $8.7M of depreciation and amortization and $12.7M of share-based compensation. Working capital and other items added $30.0M. Capital expenditures of $14.7M exceeded it, leaving free cash flow of −$62.6M.
Questions
What was Wheels Up Experience's revenue in the first quarter 2025?
Wheels Up Experience (UP) reported revenue of $178M for the first quarter 2025 (Q1 2025), -10% from a year earlier and -13% from the quarter before.
Was Wheels Up Experience profitable in the first quarter 2025?
Operating loss was $80.8M (-45.5% of revenue) and net loss $99.3M.