v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 54,126 $ 133,926
Accounts receivable, net 32,315 24,249
Parts and supplies inventories 2,210 11,586
Aircraft held for sale 22,667 18,463
Prepaid expenses 27,754 27,091
Other current assets 25,718 34,042
Total current assets 164,790 249,357
Property and equipment, net 263,513 219,729
Operating lease right-of-use assets 108,035 111,886
Goodwill 208,665 209,897
Intangible assets, net 70,097 75,102
Restricted cash 34,605 30,577
Other non-current assets 66,537 72,266
Total assets 916,242 968,814
Current liabilities:    
Current maturities of long-term debt 21,742 19,039
Accounts payable 22,857 20,443
Accrued expenses 93,487 104,010
Deferred revenue, current 687,576 738,852
Other current liabilities 28,701 25,212
Total current liabilities 854,363 907,556
Long-term debt, net 400,340 316,358
Operating lease liabilities, non-current 116,372 121,067
Other non-current liabilities 10,857 15,934
Total liabilities 1,381,932 1,360,915
Commitments and contingencies (Note 12)
Equity:    
Common Stock, $0.0001 par value; 75,000,000 authorized; 36,322,583 and 36,179,503 issued and 36,228,699 and 36,100,887 shares outstanding as of March 31, 2026 and December 31, 2025, respectively 72 72
Additional paid-in capital 2,031,796 2,020,408
Accumulated deficit (2,480,070) (2,397,112)
Accumulated other comprehensive loss (7,452) (5,633)
Treasury stock, at cost, 93,884 and 78,616 shares, respectively (10,037) (9,836)
Total Wheels Up Experience Inc. stockholders’ equity (465,691) (392,101)
Non-controlling interests 0 0
Total equity (465,691) (392,101)
Total liabilities and equity $ 916,241 $ 968,814