Filing Flows › Wheels Up Experience (UP) › Q3 2025
Wheels Up Experience (UP) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Wheels Up Experience (UP) reported revenue of $185M for the third quarter 2025 (Q3 2025), -4% from a year earlier and -2% from the quarter before. Operating margin was -33.1%, net loss $83.7M (45.1% of revenue).
Wheels Up Experience, Q3 2025: revenue $185M (-4% year over year), operating margin -33.1%, net loss $83.7M, operating cash flow −$37.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $185M | -2% | -4% |
| Operating profit | −$61.3M | — | — |
| Net earnings | −$83.7M | — | — |
| Operating cash flow | −$37.1M | — | — |
What changed
Revenue was $185.5M in Q3 2025, down 4% year over year and down 2% from the previous quarter.
Operating costs exceeded revenue by $61.3M, an operating margin of -33.1%. Total costs grew 5% against a revenue fall of 4%. The fastest-growing cost line was General & admin (+18%). The quarter ended with a net loss of $83.7M, wider than the previous quarter's $82.3M loss.
Operating cash flow was −$37.1M. Non-cash charges added back $5.0M of depreciation and amortization and $12.5M of share-based compensation. Working capital and other items added $29.1M. Capital expenditures of $23.3M exceeded it, leaving free cash flow of −$60.4M.
Questions
What was Wheels Up Experience's revenue in the third quarter 2025?
Wheels Up Experience (UP) reported revenue of $185M for the third quarter 2025 (Q3 2025), -4% from a year earlier and -2% from the quarter before.
Was Wheels Up Experience profitable in the third quarter 2025?
Operating loss was $61.3M (-33.1% of revenue) and net loss $83.7M.