XML 16 R4.htm IDEA: XBRL DOCUMENT v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Income Statement [Abstract]    
Revenue $ 351,812 $ 325,635
Costs and expenses:    
Cost of revenue 353,791 332,758
Technology and development 15,873 11,191
Sales and marketing 25,803 23,243
General and administrative 39,416 38,904
Depreciation and amortization 14,445 14,228
Gain on sale of aircraft held for sale (866) (1,971)
Total costs and expenses 448,462 418,353
Loss from operations (96,650) (92,718)
Other income (expense):    
Change in fair value of warrant liability 125 3,631
Interest income 3,821 77
Interest expense (8,119) 0
Other expense, net 145 (30)
Total other income (expense) (4,028) 3,678
Loss before income taxes (100,678) (89,040)
Income tax expense (188) 0
Net loss (100,866) (89,040)
Less: Net loss attributable to non-controlling interests 0 (387)
Net loss attributable to Wheels Up Experience Inc. $ (100,866) $ (88,653)
Net loss per share of Class A common stock:    
Basic (in dollars per share) $ (0.40) $ (0.36)
Diluted (in dollars per share) $ (0.40) $ (0.36)
Weighted-average shares of Class A common stock outstanding:    
Basic (in shares) 253,345,272 244,609,635
Diluted (in shares) 253,345,272 244,609,635