Quarterly ResultAug 5, 2026, 05:34 PM
Wheels Up Q2 Net Loss Widens to $107.2M; 1-for-20 Reverse Split
AI Summary
Wheels Up Experience Inc. reported a significant widening of its net loss for the second quarter of 2026 to $107.2 million, compared to $82.3 million in the same period last year, while revenue decreased to $182.0 million. The company also implemented a 1-for-20 reverse stock split in April 2026 and saw a substantial increase in long-term debt and cash used in operating activities. An impairment charge of $12.7 million was recognized on legacy fleet retirement.
Key Highlights
- Net loss for Q2 2026 widened to $107.2 million from $82.3 million in Q2 2025.
- Revenue for Q2 2026 decreased to $182.0 million from $189.6 million in Q2 2025.
- Implemented a 1-for-20 reverse stock split effective April 24, 2026.
- Net cash used in operating activities increased to $191.3 million for H1 2026.
- Long-term debt, net, increased to $581.2 million as of June 30, 2026.
- Recognized a $12.7 million impairment charge on legacy fleet retirement in Q2 2026.
- Total equity became more negative, reaching $(560.3) million as of June 30, 2026.
Price Impact
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