Revenue: As of FY2026 Q2, the actual value is USD 182 M.

EPS: As of FY2026 Q2, the actual value is USD -2.97.

EBIT: As of FY2026 Q2, the actual value is USD -42.01 M.

Second Quarter 2026 Financial Performance (Three Months Ended June 30, 2026)

Revenue

• GAAP Revenue for Wheels Up Experience Inc. was $182.0 million, representing a 4% year-over-year reduction, primarily due to the disposition of non-core services businesses in 2025 .
• Total Revenue was $181,999 thousand, compared to $189,637 thousand for the same period in 2025 .
• Private jet Flight revenue remained flat year over year at $158 million .
• Corporate flight revenue grew by 8% year over year across private jet and charter offerings combined .

Operational Metrics

• Total Gross Bookings were $241.8 million, an 8% decrease year over year, mainly reflecting lower U.S. private jet charter volume . Total Gross Bookings were $241,824 thousand, down from $261,948 thousand in the prior year period .
• Private Jet Gross Bookings decreased 8% to $190,690 thousand, compared to $208,326 thousand in the prior year period .
• Gross profit was $9.6 million, an improvement of $7 million compared to the prior year period . Gross profit was $9,565 thousand, an increase from $2,192 thousand in the prior year period .
• Gross margin was 5.3%, up from 1.2% in the prior year period .
• Net loss was - $107 million, or - $2.97 per share, increasing by $25 million year over year . Net loss was - $107,249 thousand, compared to - $82,299 thousand for the same period in 2025 .
• Adjusted Contribution was $22.5 million, a 2% decline from the prior year period . Adjusted Contribution was $22,545 thousand, compared to $23,070 thousand in the prior year period .
• Adjusted Contribution Margin was 12.4%, up from 12.2% .
• Adjusted EBITDAR loss was - $19.9 million, a 27% improvement compared to the prior year period . Adjusted EBITDAR was - $19,934 thousand, an improvement from - $27,300 thousand in the prior year period .
• Interest expense was $32,950 thousand, compared to $22,084 thousand in 2025 .
• Depreciation and amortization was $12,120 thousand, compared to $13,490 thousand in 2025 .
• An impairment charge of - $12,736 thousand associated with legacy fleet retirement was recorded .
• Gain on sale of aircraft held for sale was - $590 thousand, compared to - $2,203 thousand in 2025 .
• Aircraft lease costs were $6,228 thousand, compared to $3,918 thousand in 2025 .
• Live Flight Legs decreased 28% to 8,649, compared to 11,971 in the prior year period .
• Private Jet Gross Bookings per Live Flight Leg increased 27% to $22,048, compared to $17,403 in the prior year period .
• Overall Utility improved by 20% to 49.5 hours, up from 41.1 hours in Q2 2025 .
• The Completion Rate was 99.4%, up nearly 2 points from 97.5% in 2025 .
• On-Time Performance (A-30) reached 86.8%, an increase of 6.5 points from 80.3% in 2025 .
• The 3+ Hour Delay Rate was 1.2%, a decrease of 1.6 points from 2.8% in 2025 .

Six Months Ended June 30, 2026 Financial Performance

Revenue

• Total revenue was $350,921 thousand, a 4% decrease from $367,167 thousand in the prior year period .

Operational Metrics

• Total Gross Bookings increased 1% to $508,991 thousand, from $503,850 thousand in 2025 .
• Private Jet Gross Bookings decreased 7% to $383,849 thousand, from $413,619 thousand in 2025 .
• Gross profit was $7,577 thousand, a 596% increase from $1,088 thousand in the prior year period .
• Gross margin was 2.2%, up from 0.3% in 2025 .
• Net loss was - $190,207 thousand, a 5% increase from - $181,612 thousand in the prior year period .
• Adjusted Contribution was $37,319 thousand, an 18% decrease from $45,511 thousand in the prior year period .
• Adjusted Contribution Margin was 10.6%, a 2 percentage point decrease from 12.4% .
• Adjusted EBITDA was - $56,716 thousand, an 8% improvement from - $61,881 thousand in the prior year period .
• Adjusted EBITDAR was - $40,726 thousand, a 23% improvement from - $52,605 thousand in the prior year period .
• Interest expense was $58,257 thousand, compared to $41,964 thousand in 2025 .
• Depreciation and amortization was $23,834 thousand, compared to $33,700 thousand in 2025 .
• An impairment charge of - $12,736 thousand associated with legacy fleet retirement was recorded .
• Gain on sale of aircraft held for sale was - $3,098 thousand, compared to - $8,754 thousand in 2025 .
• Aircraft lease costs were $15,990 thousand, compared to $9,276 thousand in 2025 .
• Live Flight Legs decreased 28% to 16,442, from 22,866 in 2025 .
• Private Jet Gross Bookings per Live Flight Leg increased 29% to $23,346, from $18,089 in 2025 .

Cash Flow

• Net cash used in operating activities was - $191,263 thousand, a 73% increase from - $110,804 thousand in the prior year period .

Unique Metrics and Operational Highlights

• Wheels Up Signature memberships surpassed 1,200 members, an increase of 100% year-to-date, now accounting for over 50% of the active membership base . The Wheels Up Signature Membership program grew to over 1,200 members, representing more than 50% of the active member base .
• The controlled fleet of premium Phenom and Challenger jets expanded from 22 to 40 year over year, now comprising 100% of Wheels Up Experience Inc.’s active controlled jet fleet, with the entire active controlled fleet equipped with satellite WiFi . The premium fleet consists of more than 40 Phenom and Challenger aircraft as of June 30, 2026, with demand more than doubling year over year .
• The Delta partnership’s corporate channel grew over 8% year over year .
• Wheels Up Experience Inc. plans to implement Surf Air Mobility’s Enterprise BrokerOS platform .
• The company closed a new $100 million term loan and a new $68 million aircraft financing facility during the quarter .
• Delta extended its $100 million revolving credit facility commitment by an additional two years, to September 20, 2028 . The $100.0 million 2023 Revolving Credit Facility will be available to be drawn until September 20, 2028 .
• Cost saving initiatives expected to deliver approximately $70 million or more in annual cash cost savings were substantially completed during the quarter .

Outlook

Wheels Up Experience Inc. has completed its fleet modernization and achieved record levels of operational reliability, focusing on enhancing customer experience and improving business efficiency, scalability, and profitability . The company plans to generate revenue through its unified sales and service team, transition legacy customers to Signature offerings, and scale its premium fleet in the second half of 2026 . These priorities, along with leveraging the BrokerOS platform and maintaining cost discipline, are expected to drive sustained profitability, cash generation, and long-term value for investors .