v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 51,811 $ 133,926
Accounts receivable, net 30,123 24,249
Parts and supplies inventories 2,056 11,586
Aircraft held for sale 66,223 18,463
Prepaid expenses 21,723 27,091
Other current assets 19,219 34,042
Total current assets 191,155 249,357
Property and equipment, net 255,732 219,729
Operating lease right-of-use assets 100,618 111,886
Goodwill 209,027 209,897
Intangible assets, net 60,209 75,102
Restricted cash 30,581 30,577
Other non-current assets 69,221 72,266
Total assets 916,543 968,814
Current liabilities:    
Current maturities of long-term debt 23,737 19,039
Accounts payable 18,946 20,443
Accrued expenses 88,145 104,010
Deferred revenue, current 595,206 738,852
Other current liabilities 28,495 25,212
Total current liabilities 754,529 907,556
Long-term debt, net 683,980 316,358
Operating lease liabilities, non-current 107,352 121,067
Other non-current liabilities 7,864 15,934
Total liabilities 1,553,725 1,360,915
Commitments and contingencies (Note 13)
Equity:    
Common Stock, $0.0001 par value; 75,000,000 authorized; 36,441,397 and 36,179,503 issued and 36,333,702 and 36,100,887 shares outstanding as of September 30, 2026 and December 31, 2025, respectively 4 4
Additional paid-in capital 2,056,683 2,020,476
Accumulated deficit (2,676,761) (2,397,112)
Accumulated other comprehensive loss (6,987) (5,633)
Treasury stock, at cost, 107,695 and 78,616 shares, respectively (10,121) (9,836)
Total Wheels Up Experience Inc. stockholders’ equity (637,182) (392,101)
Non-controlling interests 0 0
Total equity (637,182) (392,101)
Total liabilities and equity $ 916,543 $ 968,814