Revenue: As of FY2025 Q3, the actual value is USD 185.49 M.

EPS: As of FY2025 Q3, the actual value is USD -0.12.

EBIT: As of FY2025 Q3, the actual value is USD -38.46 M.

Segment Revenue

• Membership Revenue: Decreased by 52% to $6.3 million for the three months ended September 30, 2025, compared to $13.2 million for the same period in 2024.
• Flight Revenue: Remained relatively flat at $155.2 million for the three months ended September 30, 2025, compared to $155.4 million for the same period in 2024.
• Other Revenue: Decreased by 5% to $24.0 million for the three months ended September 30, 2025, compared to $25.3 million for the same period in 2024.

Operational Metrics

• Net Loss: Increased by 45% to $83.7 million for the three months ended September 30, 2025, compared to $57.7 million for the same period in 2024.
• Gross Margin: Decreased to -0.7% for the three months ended September 30, 2025, compared to 7.5% for the same period in 2024.
• Adjusted Contribution Margin: Decreased to 12.7% for the three months ended September 30, 2025, compared to 14.8% for the same period in 2024.

Cash Flow

• Net Cash Used in Operating Activities: Increased to $147.9 million for the nine months ended September 30, 2025, compared to $115.8 million for the same period in 2024.
• Net Cash Provided by Investing Activities: Increased to $43.4 million for the nine months ended September 30, 2025, compared to $26.1 million for the same period in 2024.
• Net Cash Provided by Financing Activities: Increased to $11.4 million for the nine months ended September 30, 2025, compared to net cash used of $53.0 million for the same period in 2024.

Unique Metrics

• Live Flight Legs: Decreased by 9% to 11,593 for the three months ended September 30, 2025, compared to 12,776 for the same period in 2024.
• Private Jet Gross Bookings per Live Flight Leg: Increased by 13% to $18,088 for the three months ended September 30, 2025, compared to $15,990 for the same period in 2024.

Future Outlook and Strategy

• Core Business Focus: Wheels Up is focusing on its fleet modernization strategy, transitioning from four legacy private jet models to two premium jet models, Bombardier Challenger 300 series and Embraer Phenom 300 series, while continuing to operate a smaller King Air 350i fleet. By the end of 2025, approximately 50% of the controlled jet fleet is expected to consist of these premium aircraft.
• Non-Core Business: The company has divested three non-core services businesses to streamline operations and focus on its core private aviation services.