$UP
Wheels Up Experience Inc.

2021 Q2 Form 10-Q Financial Statement

#000110465921107690 Filed on August 19, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2021 Q1 2020 Q4
Revenue $285.6M $261.7M $0.00
YoY Change
Cost Of Revenue $255.2M $234.5M
YoY Change
Gross Profit $30.39M $27.15M
YoY Change
Gross Profit Margin 10.64% 10.38%
Selling, General & Admin $33.68M $33.96M
YoY Change
% of Gross Profit 110.82% 125.09%
Research & Development $8.025M $7.024M
YoY Change
% of Gross Profit 26.4% 25.87%
Depreciation & Amortization $8.600M $8.900M
YoY Change
% of Gross Profit 28.3% 32.78%
Operating Expenses $41.71M $40.99M $1.590M
YoY Change
Operating Profit -$24.80M -$27.67M
YoY Change
Interest Expense $4.164M $4.557M $80.00K
YoY Change
% of Operating Profit
Other Income/Expense, Net -$4.158M -$4.545M
YoY Change
Pretax Income -$28.95M -$32.21M -$1.510M
YoY Change
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$26.16M -$29.41M -$1.510M
YoY Change -4.42% -33.87%
Net Earnings / Revenue -9.16% -11.24%
Basic Earnings Per Share -$0.15 -$0.17
Diluted Earnings Per Share -$0.15 -$0.17 -$50.38K
COMMON SHARES
Basic Shares Outstanding 169.0M shares 168.8M shares
Diluted Shares Outstanding 169.0M shares 168.8M shares

Balance Sheet

Concept 2021 Q2 2021 Q1 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $28.67K $62.39K $720.0K
YoY Change
Cash & Equivalents $160.6M $215.0M $312.8M
Short-Term Investments
Other Short-Term Assets $216.8K $416.1K $610.0K
YoY Change
Inventory $5.320M
Prepaid Expenses $216.8K $608.9K
Receivables $50.40M
Other Receivables $8.205M
Total Short-Term Assets $245.5K $478.4K $395.5M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $323.1M
YoY Change
Goodwill $37.24M $400.2M
YoY Change 10622.4%
Intangibles $163.7M
YoY Change
Long-Term Investments
YoY Change
Other Assets $239.8M $239.8M $849.0K
YoY Change
Total Long-Term Assets $239.8M $239.8M $964.5M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $245.5K $478.4K $395.5M
Total Long-Term Assets $239.8M $239.8M $964.5M
Total Assets $240.1M $240.3M $1.360B
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.92M
YoY Change
Accrued Expenses $4.325M $4.239M $71.38M
YoY Change
Deferred Revenue $651.1M
YoY Change
Short-Term Debt $250.0K $100.0K $0.00
YoY Change
Long-Term Debt Due $62.68M
YoY Change
Total Short-Term Liabilities $4.575M $4.339M $839.9M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $148.4M
YoY Change
Other Long-Term Liabilities $32.43M $26.17M $3.415M
YoY Change
Total Long-Term Liabilities $32.43M $26.17M $151.8M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.575M $4.339M $839.9M
Total Long-Term Liabilities $32.43M $26.17M $151.8M
Total Liabilities $37.01M $30.51M $1.066B
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$36.76M -$530.7M
YoY Change
Common Stock $17.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$36.76M -$30.03M $267.8M
YoY Change
Total Liabilities & Shareholders Equity $240.1M $240.3M $1.360B
YoY Change

Cashflow Statement

Concept 2021 Q2 2021 Q1 2020 Q4
OPERATING ACTIVITIES
Net Income -$26.16M -$29.41M -$1.510M
YoY Change -4.42% -33.87%
Depreciation, Depletion And Amortization $8.600M $8.900M
YoY Change
Cash From Operating Activities -$183.7K -$84.72M -$1.053M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures $2.273M
YoY Change
Acquisitions -$7.844M
YoY Change
Other Investing Activities -$14.75M
YoY Change
Cash From Investing Activities $2.919M -$14.75M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net $12.45M
YoY Change
Cash From Financing Activities 150.0K -$12.79M 14.69M
YoY Change
NET CHANGE
Cash From Operating Activities -183.7K -$84.72M -1.053M
Cash From Investing Activities $2.919M -14.75M
Cash From Financing Activities 150.0K -$12.79M 14.69M
Net Change In Cash -33.72K -$94.59M -1.111M
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$183.7K -$84.72M -$1.053M
Capital Expenditures $2.273M
Free Cash Flow -$86.99M
YoY Change

Facts In Submission

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dei Entity Registrant Name
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WHEELS UP EXPERIENCE INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
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dei Entity Address Address Line1
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601 West 26th Street
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Aspirational Consumer Lifestyle Corp.
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