Filing Flows › Wheels Up Experience (UP) › Q1 2026
Wheels Up Experience (UP) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 11, 2026
Wheels Up Experience (UP) reported revenue of $169M for the first quarter 2026 (Q1 2026), -5% from a year earlier and -8% from the quarter before. Operating margin was -34.0%, net loss $83.0M (49.1% of revenue).
Wheels Up Experience, Q1 2026: revenue $169M (-5% year over year), operating margin -34.0%, net loss $83.0M, operating cash flow −$99.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $169M | -8% | -5% |
| Operating profit | −$57.4M | — | — |
| Net earnings | −$83.0M | — | — |
| Operating cash flow | −$99.6M | — | — |
What changed
Revenue was $168.9M in Q1 2026, down 5% year over year and down 8% from the previous quarter.
Operating costs exceeded revenue by $57.4M, an operating margin of -34.0%. Total costs fell 12% while revenue fell 5%. The quarter ended with a net loss of $83.0M, wider than the previous quarter's $28.9M loss.
Operating cash flow was −$99.6M. Non-cash charges added back $3.6M of depreciation and amortization and $11.4M of share-based compensation. Working capital and other items used $31.7M. Capital expenditures of $62.4M exceeded it, leaving free cash flow of −$162.0M.
Questions
What was Wheels Up Experience's revenue in the first quarter 2026?
Wheels Up Experience (UP) reported revenue of $169M for the first quarter 2026 (Q1 2026), -5% from a year earlier and -8% from the quarter before.
Was Wheels Up Experience profitable in the first quarter 2026?
Operating loss was $57.4M (-34.0% of revenue) and net loss $83.0M.