← Wheels Up Experience Inc.
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|
| Depreciation and amortization | $39.4m | $58.5m | $54.2m | $65.9m | $58.5m | $56.5m | $61.2m | |
| Amortization of deferred financing costs and debt discount | $1.9m | $1.6m | $618k | $766k | $329k | $8.7m | $17.5m | |
| Impairment of lease related assets | — | — | — | — | $0 | $0 | $20.2m | |
| Impairment of goodwill | — | $0 | $0 | $180.0m | $126.2m | $0 | $0 | |
| Loss on extinguishment of debt | $0 | $0 | $2.4m | $0 | $4.4m | $17.7m | $119k | |
| Net loss | ($106.9m) | ($1.6m) | ($197.2m) | ($555.5m) | ($487.4m) | ($339.6m) | ($294.2m) | |
| Payment in kind interest | — | — | $0 | $0 | $10.5m | $43.4m | $54.2m | |
| Equity-based compensation | $1.9m | $3.3m | $49.7m | $89.0m | $25.6m | $46.0m | $45.4m | |
| Reserve for excess and obsolete inventory | — | — | — | $0 | $3.9m | $12.1m | $3.6m | |
| Gain on sale of aircraft held for sale | — | $0 | $0 | ($4.4m) | ($16.9m) | ($4.6m) | ($55.2m) | |
| Other | — | $0 | $0 | $1.6m | $267k | $105k | $5.0m | |
| Accounts receivable | $1.4m | $14.5m | ($21.9m) | ($23.9m) | $30.1m | $2.8m | $2.5m | |
| Other receivables | ($4.9m) | $7.0m | $144k | $2.5m | ($3.2m) | $4.3m | ($309k) | |
| Parts and supplies inventories | ($70k) | ($636k) | ($3.4m) | ($21.7m) | $4.7m | $2.9m | ($3.2m) | |
| Prepaid expenses | — | ($609k) | ($11.4m) | ($3.1m) | ($17.3m) | $30.1m | ($618k) | |
| Other non-current assets | $734k | $877k | ($34.2m) | ($41.6m) | ($32.3m) | $33.8m | $5.8m | |
| Accounts payable | $6.7m | ($13.9m) | $13.1m | ($9.7m) | ($8.1m) | ($2.9m) | ($9.3m) | |
| Accrued expenses | $6.4m | $1.1m | $14.6m | $19.1m | ($35.1m) | ($11.2m) | $14.0m | |
| Deferred revenue | $30.1m | $218.1m | $278.8m | $103.3m | ($348.4m) | $25.4m | ($13.0m) | |
| Other assets and liabilities | $231k | $3.4m | ($3.4m) | ($1.7m) | $2.9m | ($1.5m) | ($1.3m) | |
| Purchases of property and equipment | ($4.1m) | ($7.1m) | ($15.2m) | ($83.6m) | ($20.2m) | ($122.8m) | ($93.6m) | |
| Capitalized software development costs | ($3.9m) | ($8.4m) | ($13.2m) | ($27.7m) | ($16.5m) | ($15.0m) | ($11.5m) | |
| Purchases of aircraft held for sale | $0 | $0 | ($31.7m) | ($40.1m) | ($4.2m) | ($2.4m) | ($11.8m) | |
| Proceeds from sale of aircraft held for sale, net | $0 | $0 | $13.6m | $51.2m | $68.3m | $85.6m | $271.6m | |
| Purchase of shares for treasury | — | $0 | $0 | ($7.7m) | ($28k) | ($485k) | ($1.6m) | |
| Interest | $28.4m | $21.7m | $11.7m | $0 | $31.4m | $23.6m | $19.6m | |
| Net cash used in operating activities | ($24.9m) | ($1.1m) | $126.5m | ($230.7m) | ($665.3m) | ($77.9m) | ($166.3m) | |
| Proceeds from sale of divested business | — | — | $0 | $0 | $13.2m | $7.9m | $20.7m | |
| Net cash (used in) provided by investing activities | ($41.3m) | ($239.7m) | ($38.7m) | ($175.2m) | $40.9m | ($46.7m) | $180.4m | |
| Proceeds from long-term debt | $0 | $755k | $0 | $259.2m | $382.2m | $327.2m | $65.7m | |
| Payment of debt issuance costs | — | $0 | $0 | ($6.7m) | ($21.7m) | ($1.6m) | ($152k) | |
| Non-cash issuance of Common Stock in connection with debt issuance | — | — | $0 | $0 | $310.3m | $0 | $0 | |
| Repayments of long-term debt | ($37.7m) | ($63.5m) | ($214.1m) | $0 | ($59.5m) | ($246.5m) | ($210.0m) | |
| Proceeds from sales of shares of Common Stock | $0 | $0 | $2.1m | $0 | $0 | $0 | $47.5m | |
| Net cash (used in) provided by financing activities | $87.4m | $241.6m | $374.0m | $244.8m | $301.0m | $78.7m | ($98.5m) | |
| Effect of exchange rate changes on cash | — | $0 | $0 | ($5.4m) | ($3.9m) | ($450k) | $2.5m | |
| Net decrease in cash, cash equivalents and restricted cash | $21.2m | $720k | $461.8m | ($166.6m) | ($327.3m) | ($46.4m) | ($82.0m) | |
| Cash, cash equivalents and restricted cash, beginning of period | $96.4m | $720k | $786.7m | $620.2m | $292.8m | $246.5m | $164.5m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.