Wheels Up Experience Inc (UP)
NYSE:UP
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Wheels Up Experience
(NYSE:UP)
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Rating:43Neutral
Price Target:
$0.42
▼(-57.78% Downside)
Action:UpgradedDate:02/20/26
The score is primarily weighed down by weak financial performance (ongoing losses, negative equity, and cash burn). Technicals reinforce the risk with a clear downtrend and negative MACD. Corporate events are mixed—liquidity actions help, but NYSE noncompliance and possible reverse split add meaningful concern—while valuation is hard to justify due to negative earnings.
Positive Factors
Strategic partner access
The disclosed strategic relationship with Delta supports durable customer acquisition and distribution advantages versus standalone operators. Integration with a major network can drive member funnel, cross-selling, and demand resilience by leveraging Delta's large customer base and travel channels over the medium term.
Negative Factors
Persistent net losses
Multi-year net losses and a deeply negative net margin are structural concerns: they erode capital, complicate reinvestment, and require sustained operational change to reach profitability. Without durable revenue recovery or margin expansion, losses will continue to pressure liquidity and strategic options.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic partner access
The disclosed strategic relationship with Delta supports durable customer acquisition and distribution advantages versus standalone operators. Integration with a major network can drive member funnel, cross-selling, and demand resilience by leveraging Delta's large customer base and travel channels over the medium term.
Read all positive factors
Wheels Up Experience (UP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$313.77M
Dividend YieldN/A
Average Volume (3M)2.09M
Price to Earnings (P/E)―
Beta (1Y)1.93
Revenue Growth-9.14%
EPS Growth-0.48%
CountryUS
Employees1,807
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)-0.04
Shares Outstanding724,465,600
10 Day Avg. Volume1,254,841
30 Day Avg. Volume2,090,404
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)-1.18
Price to Sales (P/S)0.63
P/FCF Ratio-1.78
Enterprise Value/Market Cap1.07
Enterprise Value/Revenue0.46
Enterprise Value/Gross Profit20.31
Enterprise Value/Ebitda-2.42
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Wheels Up Experience Business Overview & Revenue Model
Company Description
Wheels Up Experience Inc. provides private aviation services primarily in the United States. The company offers a suite of products and services, which include multi-tiered membership programs, on-demand flights across various private aircraft cab...
How the Company Makes Money
Wheels Up generates revenue primarily by selling private aviation services and related offerings. Key revenue streams include: (1) Flight revenue from on-demand charter and member flights, where customers pay based on aircraft type, route, flight ...
Wheels Up Experience Earnings Call Summary
Earnings Call Date:Nov 07, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
The earnings call reflects a positive outlook with stabilized revenue and significant operational improvements, including a successful fleet modernization strategy. While there are challenges such as a decline in membership revenue and on-time performance issues, the company has made significant strides in reducing losses and improving customer satisfaction.Positive Updates
Stable Revenue and Operational Improvements
Revenue was $194 million in Q3, roughly flat sequentially, highlighting stability. Adjusted contribution margin was 14.8%, nearly double the second quarter, the highest since going public in 2021.
Negative Updates
Decline in Membership Revenue and Members
Decline in membership revenue and members due to streamlined product portfolio and exit of certain business segments.
Read all updates
Q3-2024 Updates
Positive
Negative
Stable Revenue and Operational Improvements
Revenue was $194 million in Q3, roughly flat sequentially, highlighting stability. Adjusted contribution margin was 14.8%, nearly double the second quarter, the highest since going public in 2021.
Read all positive updates
Company Guidance
In the third quarter earnings call for Wheels Up, CEO George Mattson highlighted several key metrics indicating the company's financial and operational progress. The adjusted contribution margin reached nearly 15%, almost doubling from the previous quarter and marking the highest since going public, reflecting improved operational performance and higher fleet utilization. The adjusted EBITDA loss was reduced by nearly 50% sequentially to $20 million, advancing towards the goal of achieving positive adjusted EBITDA in 2025. Block sales saw a significant increase, up 85% year-over-year to $147 million, driven by strong traction in corporate sales, particularly joint Delta accounts. Moreover, the company's fleet modernization strategy, including the acquisition of Embraer's Phenom 300 and 300E aircraft, is expected to enhance operational efficiency and profitability. With the support of a new $332 million credit facility from Bank of America, Wheels Up anticipates improvements in cash flow and liquidity, positioning the company for resumed growth in 2025.Wheels Up Experience Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
12
Very Negative
Cash Flow
16
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 736.50M | 792.10M | 1.25B | 1.58B | 1.19B |
| Gross Profit | 16.55M | 59.03M | -37.72M | -26.50M | 22.43M |
| EBITDA | -139.07M | -216.51M | -386.22M | -481.93M | -133.46M |
| Net Income | -294.22M | -339.63M | -487.39M | -555.16M | -190.02M |
Balance Sheet | |||||
| Total Assets | 968.81M | 1.16B | 1.32B | 1.97B | 1.98B |
| Cash, Cash Equivalents and Short-Term Investments | 133.93M | 216.43M | 263.91M | 585.88M | 784.57M |
| Total Debt | 157.00M | 472.82M | 336.90M | 365.94M | 115.08M |
| Total Liabilities | 1.36B | 1.35B | 1.22B | 1.67B | 1.24B |
| Stockholders Equity | -392.10M | -196.23M | 99.87M | 299.92M | 730.15M |
Cash Flow | |||||
| Free Cash Flow | -259.92M | -218.13M | -701.95M | -382.05M | 66.41M |
| Operating Cash Flow | -166.29M | -77.89M | -665.28M | -230.69M | 126.49M |
| Investing Cash Flow | 180.37M | -46.68M | 40.87M | -175.24M | -38.67M |
| Financing Cash Flow | -98.51M | 78.66M | 300.95M | 244.79M | 374.03M |
Wheels Up Experience Technical Analysis
Negative
0.99
Price Trends
0.63
Negative
0.73
Negative
1.23
Negative
Market Momentum
-0.04
Positive
31.72
Neutral
11.36
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For UP, the sentiment is Negative. The current price of 0.99 is above the 20-day moving average (MA) of 0.53, above the 50-day MA of 0.63, and below the 200-day MA of 1.23, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 31.72 is Neutral, neither overbought nor oversold. The STOCH value of 11.36 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for UP.
Wheels Up Experience Risk Analysis
Wheels Up Experience disclosed 38 risk factors in its most recent earnings report. Wheels Up Experience reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Wheels Up Experience Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $3.62B | 11.02 | 16.35% | ― | 19.27% | 78.26% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
51 Neutral | $4.27M | 0.54 | -100.25% | ― | -63.27% | ― | |
47 Neutral | $204.74M | -6.36 | 6.23% | ― | ― | ― | |
45 Neutral | $810.52M | -7.87 | -27.39% | ― | 1.77% | -1964.48% | |
44 Neutral | $84.69M | -0.37 | 110.96% | ― | -8.51% | 82.15% | |
43 Neutral | $313.77M | -1.57 | 84.41% | ― | -9.14% | -0.48% |
* Industrials Sector Average
UP
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.