Wheels Up Reports Q4 Revenue of $183.84M, Down Year-over-Year
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 hours ago
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Should l Buy UP?
Reports Q4 revenue $183.84M vs. $204.82M last year. "Over the past year, we have stabilized private jet revenue, strengthened our revenue mix, invested in operational reliability and fleet modernization, and enhanced the customer experience, driving a meaningful improvement in profitability," said Wheels Up CEO George Mattson. "In 2026, we expect to complete our membership program and fleet transition and fully align our products, services, and operations with our strategy. With a modernized fleet, a stronger mix of corporate and high-value customers, continued operational and cost discipline, and the unique competitive advantages from our Delta partnership, we are advancing toward our long-term objective of sustainable, profitable growth."
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About UP
Wheels Up Experience Inc. is a provider of on-demand private aviation in the United States. The Company offers a complete global aviation solution with a large and diverse fleet and a global network of safety-vetted charter operators. Its offering is delivered through a mix of its member programs and charter solutions that utilize its owned and leased aircraft fleet and an asset-light charter model to deliver a range of global travel alternatives. In addition, its partnership with Delta Air Lines, Inc. (Delta) provides its members and customers with an offering across both private and premium commercial travel. In addition to its Wheels Up Membership and Wheels Up Charter offerings, it provides wholesale charter services to customers, such as charter flight brokers and third-party operators. It offers group charter flights, cargo flights, maintenance, repair and operations services (MRO), fixed-base operator (FBO) services, safety and security services, and special missions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Wheels Up Reports Significant Q4 Financial Improvement
- Significant Net Loss Reduction: Wheels Up reported a net loss of $28.875 million in Q4 2025, a 67% decrease from $87.538 million in the same quarter of 2024, reflecting substantial progress in cost control and operational efficiency, which enhances investor confidence.
- First Positive Adjusted EBITDAR: The company achieved an adjusted EBITDAR of $36.908 million in Q4, a significant improvement from -$3.174 million year-over-year, indicating a recovery in profitability and potential for sustainable growth in the future.
- Record Operational Reliability: On-time performance reached 91% in Q4, up 4 percentage points from the previous year, with a completion rate of 99%, which not only enhances customer satisfaction but also positions the company to capture a larger market share in a competitive landscape.
- Membership Program and Fleet Modernization: Wheels Up is advancing its membership program completion and fleet modernization, expected to further enhance customer experience and revenue mix, while leveraging its strategic partnership with Delta Airlines to drive progress towards long-term profitability goals.
See More
Wheels Up Experience Reports Q4 Financial Results
- Financial Highlights: Wheels Up reported a GAAP EPS of -$0.04 for Q4 2023, with revenue of $183.84 million, reflecting a 10.2% year-over-year decline, indicating resilience amid market challenges.
- Adjusted Profit Improvement: The company achieved an adjusted EBITDA of $33 million and adjusted EBITDAR of $37 million, both improving by over $40 million year-over-year, demonstrating significant operational efficiency gains.
- Liquidity Position: At quarter-end, Wheels Up had liquidity of $234 million, including $134 million in cash and cash equivalents, along with an undrawn $100 million revolving credit facility, ensuring financial flexibility for future operations.
- Market Reaction: Following the disclosure of an aircraft sale-leaseback deal, Wheels Up's stock rallied, reflecting positive market sentiment towards the company's strategic adjustments, potentially laying the groundwork for future growth.
See More
Wheels Up CEO to Present at Barclays Conference
- Executive Appearance: Wheels Up CEO George Mattson will present in person at the Barclays Industrial Select Conference in Miami on February 19, 2026, showcasing the company's leadership in the private aviation sector, which is expected to attract investor interest.
- Live Webcast Available: The event will be live-streamed on the company's investor website, with an online replay available shortly after the event, ensuring that investors unable to attend in person can access timely information, thereby enhancing corporate transparency.
- Business Overview: Wheels Up is a leading global provider of on-demand private aviation with a diverse fleet and a network of safety-vetted charter operators committed to delivering safety and quality service, further solidifying its market position.
- Strategic Partnership: Through its strategic partnership with Delta Air Lines, customers can access charter and membership programs along with premium commercial travel benefits, enhancing overall customer experience and satisfaction.
See More
Wheels Up CEO to Present at Barclays Conference
- Executive Appearance: Wheels Up CEO George Mattson will present in person at the Barclays Industrial Select Conference in Miami on February 19, 2026, showcasing the company's leadership in the private aviation sector.
- Live Webcast Available: The event will be streamed live on the company's investor website, with an online replay available shortly after the conclusion, ensuring timely access to information for investors and the public.
- Company Background: Wheels Up is a leading global provider of on-demand private aviation, featuring a diverse fleet and a network of safety-vetted charter operators committed to safety and service excellence.
- Strategic Partnerships: Through its partnership with Delta Air Lines, customers can access charter and membership programs along with premium commercial travel benefits, further enhancing its competitive position in the market.
See More
Heisman Trophy Winner Joins Wheels Up Community
- Star Athlete Joins: Heisman Trophy winner and NCAA National Champion quarterback Fernando Mendoza officially joins the Wheels Up Ambassador community, highlighting the company's commitment to serving athletes and enhancing brand prestige.
- Flexible Travel Solutions: The strategic partnership between Wheels Up and Delta Air Lines allows Mendoza and his family to seamlessly transition between private and commercial flights, addressing their high-demand travel needs across multiple cities and enhancing customer experience.
- Importance of Family Support: Mendoza emphasizes the need for flexible travel for his mother, who has multiple sclerosis, and Wheels Up's personalized services help them stay connected during significant moments, reflecting the company's customer-centric approach.
- Alignment of Brand Values: Wheels Up CEO George Mattson states that Mendoza's leadership and family-first mentality align closely with the brand's values, as the company's mission is to provide barrier-free travel experiences that support customers in pursuing what matters most.
See More
Wheels Up to Release Q4 2025 Financial Results on February 19, 2026
- Earnings Release Schedule: Wheels Up Experience Inc. has announced that it will release its fourth quarter 2025 financial results on February 19, 2026, with earnings materials available on the investor relations website, demonstrating the company's commitment to transparency and investor communication.
- Business Overview: As a leading global provider of on-demand private aviation, Wheels Up boasts a diverse fleet and a network of safety-vetted charter operators, emphasizing its competitive advantage in the market through a commitment to safety and service.
- Customer Service Model: Through a strategic partnership with Delta Air Lines, Wheels Up offers charter and membership programs along with premium commercial travel benefits, enhancing its market appeal and customer loyalty.
- Cargo Service Expansion: Wheels Up also provides cargo services via Air Partner Cargo to individuals and government organizations, reflecting its strategic direction of business diversification aimed at meeting varied client needs.
See More
Wheels Up Reports Significant Q4 Financial Improvement
- Significant Net Loss Reduction: Wheels Up reported a net loss of $28.875 million in Q4 2025, a 67% decrease from $87.538 million in the same quarter of 2024, reflecting substantial progress in cost control and operational efficiency, which enhances investor confidence.
- First Positive Adjusted EBITDAR: The company achieved an adjusted EBITDAR of $36.908 million in Q4, a significant improvement from -$3.174 million year-over-year, indicating a recovery in profitability and potential for sustainable growth in the future.
- Record Operational Reliability: On-time performance reached 91% in Q4, up 4 percentage points from the previous year, with a completion rate of 99%, which not only enhances customer satisfaction but also positions the company to capture a larger market share in a competitive landscape.
- Membership Program and Fleet Modernization: Wheels Up is advancing its membership program completion and fleet modernization, expected to further enhance customer experience and revenue mix, while leveraging its strategic partnership with Delta Airlines to drive progress towards long-term profitability goals.
See More
Wheels Up Experience Reports Q4 Financial Results
- Financial Highlights: Wheels Up reported a GAAP EPS of -$0.04 for Q4 2023, with revenue of $183.84 million, reflecting a 10.2% year-over-year decline, indicating resilience amid market challenges.
- Adjusted Profit Improvement: The company achieved an adjusted EBITDA of $33 million and adjusted EBITDAR of $37 million, both improving by over $40 million year-over-year, demonstrating significant operational efficiency gains.
- Liquidity Position: At quarter-end, Wheels Up had liquidity of $234 million, including $134 million in cash and cash equivalents, along with an undrawn $100 million revolving credit facility, ensuring financial flexibility for future operations.
- Market Reaction: Following the disclosure of an aircraft sale-leaseback deal, Wheels Up's stock rallied, reflecting positive market sentiment towards the company's strategic adjustments, potentially laying the groundwork for future growth.
See More
Wheels Up CEO to Present at Barclays Conference
- Executive Appearance: Wheels Up CEO George Mattson will present in person at the Barclays Industrial Select Conference in Miami on February 19, 2026, showcasing the company's leadership in the private aviation sector, which is expected to attract investor interest.
- Live Webcast Available: The event will be live-streamed on the company's investor website, with an online replay available shortly after the event, ensuring that investors unable to attend in person can access timely information, thereby enhancing corporate transparency.
- Business Overview: Wheels Up is a leading global provider of on-demand private aviation with a diverse fleet and a network of safety-vetted charter operators committed to delivering safety and quality service, further solidifying its market position.
- Strategic Partnership: Through its strategic partnership with Delta Air Lines, customers can access charter and membership programs along with premium commercial travel benefits, enhancing overall customer experience and satisfaction.
See More
Wheels Up CEO to Present at Barclays Conference
- Executive Appearance: Wheels Up CEO George Mattson will present in person at the Barclays Industrial Select Conference in Miami on February 19, 2026, showcasing the company's leadership in the private aviation sector.
- Live Webcast Available: The event will be streamed live on the company's investor website, with an online replay available shortly after the conclusion, ensuring timely access to information for investors and the public.
- Company Background: Wheels Up is a leading global provider of on-demand private aviation, featuring a diverse fleet and a network of safety-vetted charter operators committed to safety and service excellence.
- Strategic Partnerships: Through its partnership with Delta Air Lines, customers can access charter and membership programs along with premium commercial travel benefits, further enhancing its competitive position in the market.
See More
Heisman Trophy Winner Joins Wheels Up Community
- Star Athlete Joins: Heisman Trophy winner and NCAA National Champion quarterback Fernando Mendoza officially joins the Wheels Up Ambassador community, highlighting the company's commitment to serving athletes and enhancing brand prestige.
- Flexible Travel Solutions: The strategic partnership between Wheels Up and Delta Air Lines allows Mendoza and his family to seamlessly transition between private and commercial flights, addressing their high-demand travel needs across multiple cities and enhancing customer experience.
- Importance of Family Support: Mendoza emphasizes the need for flexible travel for his mother, who has multiple sclerosis, and Wheels Up's personalized services help them stay connected during significant moments, reflecting the company's customer-centric approach.
- Alignment of Brand Values: Wheels Up CEO George Mattson states that Mendoza's leadership and family-first mentality align closely with the brand's values, as the company's mission is to provide barrier-free travel experiences that support customers in pursuing what matters most.
See More
Wheels Up to Release Q4 2025 Financial Results on February 19, 2026
- Earnings Release Schedule: Wheels Up Experience Inc. has announced that it will release its fourth quarter 2025 financial results on February 19, 2026, with earnings materials available on the investor relations website, demonstrating the company's commitment to transparency and investor communication.
- Business Overview: As a leading global provider of on-demand private aviation, Wheels Up boasts a diverse fleet and a network of safety-vetted charter operators, emphasizing its competitive advantage in the market through a commitment to safety and service.
- Customer Service Model: Through a strategic partnership with Delta Air Lines, Wheels Up offers charter and membership programs along with premium commercial travel benefits, enhancing its market appeal and customer loyalty.
- Cargo Service Expansion: Wheels Up also provides cargo services via Air Partner Cargo to individuals and government organizations, reflecting its strategic direction of business diversification aimed at meeting varied client needs.
See More
