XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]                
Revenue $ 420,356     $ 301,978     $ 1,171,503 $ 849,215
Costs and expenses:                
Cost of revenue 403,042     283,495     1,144,698 773,191
Technology and development 16,639     8,769     42,436 23,818
Sales and marketing 30,830     22,157     87,761 55,846
General and administrative 44,323     42,490     130,200 76,444
Depreciation and amortization 16,500     13,639     46,862 40,952
Gain on sale of aircraft held for sale (1,316)     0     (3,950) 0
Impairment of goodwill 62,000     0     62,000 0
Total costs and expenses 572,018     370,550     1,510,007 970,251
Loss from operations (151,662)     (68,572)     (338,504) (121,036)
Other income (expense):                
Change in fair value of warrant liability 2,504     12,271     8,265 12,271
Loss on extinguishment of debt 0     (2,379)     0 (2,379)
Interest income 1,130     7     1,612 25
Interest expense 0     (782)     0 (9,503)
Other expense, net (625)     0     (1,505) 0
Total other income (expense) 3,009     9,117     8,372 414
Loss before income taxes (148,653)     (59,455)     (330,132) (120,622)
Income tax expense (185)     0     (505) 0
Net loss (148,838) $ (92,760) $ (89,040) (59,455) $ (28,954) $ (32,213) (330,637) (120,622)
Less: Net loss attributable to non-controlling interests 0     (970)     (387) (6,572)
Net loss attributable to Wheels Up Experience Inc. $ (148,838)     $ (58,485)     $ (330,250) $ (114,050)
Net loss per share of Class A common stock:                
Basic (in dollars per share) $ (0.61)     $ (0.25)     $ (1.35) $ (0.60)
Diluted (in dollars per share) $ (0.61)     $ (0.25)     $ (1.35) $ (0.60)
Weighted-average shares of Class A common stock outstanding:                
Basic (in shares) 244,350,959     235,341,054     244,347,871 191,057,091
Diluted (in shares) 244,350,959     235,341,054     244,347,871 191,057,091