v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 86,309 $ 133,926
Accounts receivable, net 28,160 24,249
Parts and supplies inventories 1,952 11,586
Aircraft held for sale 64,391 18,463
Prepaid expenses 20,574 27,091
Other current assets 20,540 34,042
Total current assets 221,926 249,357
Property and equipment, net 223,267 219,729
Operating lease right-of-use assets 104,927 111,886
Goodwill 208,786 209,897
Intangible assets, net 65,153 75,102
Restricted cash 33,766 30,577
Other non-current assets 68,741 72,266
Total assets 926,566 968,814
Current liabilities:    
Current maturities of long-term debt 21,070 19,039
Accounts payable 26,590 20,443
Accrued expenses 81,791 104,010
Deferred revenue, current 626,891 738,852
Other current liabilities 28,917 25,212
Total current liabilities 785,259 907,556
Long-term debt, net 581,184 316,358
Operating lease liabilities, non-current 112,158 121,067
Other non-current liabilities 8,265 15,934
Total liabilities 1,486,866 1,360,915
Commitments and contingencies (Note 12)
Equity:    
Common Stock, $0.0001 par value; 75,000,000 authorized; 36,370,076 and 36,179,503 issued and 36,270,704 and 36,100,887 shares outstanding as of June 30, 2026 and December 31, 2025, respectively 4 4
Additional paid-in capital 2,044,408 2,020,477
Accumulated deficit (2,587,319) (2,397,112)
Accumulated other comprehensive loss (7,308) (5,633)
Treasury stock, at cost, 99,372 and 78,616 shares, respectively (10,084) (9,836)
Total Wheels Up Experience Inc. stockholders’ equity (560,300) (392,101)
Non-controlling interests 0 0
Total equity (560,300) (392,101)
Total liabilities and equity $ 926,566 $ 968,814