Filing Flows › Comparisons › UP vs SRFM
Wheels Up Experience vs Surf Air Mobility: UP and SRFM compared
Wheels Up Experience is the larger company: $165M of revenue in its latest quarter (Q3 2026) against $36.5M for Surf Air Mobility (Q3 2026). Surf Air Mobility is growing faster (+25% against -11% a year earlier). Wheels Up Experience is more profitable, with an operating margin of -30.5% against -43.8%.
Where the money goes: UP and SRFM
Wheels Up Experience (UP) · Q3 2026
Wheels Up Experience, Q3 2026: revenue $165M (-11% year over year), operating margin -30.5%, net loss $89.4M, operating cash flow −$17.1M. The chart follows the revenue to costs, profit and cash.
Surf Air Mobility (SRFM) · Q3 2026
Surf Air Mobility, Q3 2026: revenue $36.5M (+25% year over year), operating margin -43.8%, net loss $20.4M, operating cash flow −$21.2M. The chart follows the revenue to costs, profit and cash.
| Wheels Up Experience (UP) | Surf Air Mobility (SRFM) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $165M | $36.5M |
| Revenue growth, Y/Y | -11% | +25% |
| Operating margin | -30.5% | -43.8% |
| Net earnings | −$89.4M | −$20.4M |
| Net margin | -54.3% | -55.9% |
| Operating cash flow | −$17.1M | −$21.2M |
Where the revenue comes from
Surf Air Mobility
- On Demand: $19.0M (52%)
- Scheduled: $17.4M (48%)
Questions
Which is bigger, Wheels Up Experience or Surf Air Mobility?
Wheels Up Experience is the larger company: $165M of revenue in its latest quarter (Q3 2026) against $36.5M for Surf Air Mobility (Q3 2026).
Is Wheels Up Experience or Surf Air Mobility growing faster?
Surf Air Mobility is growing faster (+25% against -11% a year earlier).
Which is more profitable, Wheels Up Experience or Surf Air Mobility?
Wheels Up Experience is more profitable, with an operating margin of -30.5% against -43.8%.
More: Wheels Up Experience earnings · how Wheels Up Experience makes money · Surf Air Mobility earnings · how Surf Air Mobility makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.