v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 107,000 $ 216,426
Accounts receivable, net 38,705 32,316
Parts and supplies inventories 12,162 12,177
Aircraft held for sale 37,884 35,663
Prepaid expenses 22,302 23,546
Other current assets 15,618 11,941
Total current assets 233,671 332,069
Property and equipment, net 317,912 348,339
Operating lease right-of-use assets 32,163 56,911
Goodwill 224,419 217,045
Intangible assets, net 87,367 96,904
Restricted cash 34,242 30,042
Other non-current assets 75,952 76,701
Total assets 1,005,726 1,158,011
Current liabilities:    
Current maturities of long-term debt 31,542 31,748
Accounts payable 35,362 29,977
Accrued expenses 96,101 89,484
Deferred revenue, current 727,099 749,432
Other current liabilities 12,076 16,643
Total current liabilities 902,180 917,284
Long-term debt, net 391,335 376,308
Operating lease liabilities, non-current 50,774 50,810
Other non-current liabilities 9,188 9,837
Total liabilities 1,353,477 1,354,239
Commitments and contingencies (Note 12)
Total mezzanine equity 0 5,881
Equity:    
Common Stock, $0.0001par value; 1,500,000,000 authorized; 699,803,945 and 698,342,097 issued and 698,993,636 and 697,902,646 shares outstanding as of June 30, 2025 and December 31, 2024, respectively 70 70
Additional paid-in capital 1,948,418 1,921,581
Accumulated deficit (2,284,507) (2,102,895)
Accumulated other comprehensive loss (3,084) (12,662)
Treasury stock, at cost, 810,309 and 439,451 shares, respectively (8,648) (8,203)
Total Wheels Up Experience Inc. stockholders’ equity (347,751) (202,109)
Non-controlling interests 0 0
Total equity (347,751) (202,109)
Total liabilities and equity $ 1,005,726 $ 1,158,011