Cash flow Wheels Up Experience Inc.

Equities

UP

US96328L2051

Airlines

Real-time Estimate Cboe BZX Other stock markets 17:04:43 12/09/2024 BST			5-day change	1st Jan Change
2.225 ^USD	+4.46%		+30.29%	-35.42%

08-21	Wheels Up Names Interim Chief Financial Officer, New Chief Legal Officer	MT
08-21	Wheels Up Experience Inc. Announces CFO Changes	CI

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Published financial data: WHEELS UP EXPERIENCE INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	385M	695M	1.19B	1.58B	1.25B
Total Revenues	385M	695M	1.19B	1.58B	1.25B
Cost of Goods Sold, Total	333M	611M	1.06B	1.54B	1.23B
Gross Profit	52.04M	84.31M	132M	43.49M	21.89M
Selling General & Admin Expenses, Total	62.55M	130M	240M	282M	235M
R&D Expenses	13.96M	21.01M	33.58M	57.24M	59.57M
Depreciation & Amortization - (IS)	39.35M	58.53M	54.2M	65.94M	58.53M
Other Operating Expenses, Total	116M	209M	328M	406M	353M
Operating Income	-63.83M	-125M	-196M	-362M	-331M
Interest Expense, Total	-29.36M	-22.99M	-9.52M	-7.52M	-41.26M
Interest And Investment Income	615K	550K	53K	3.67M	6.12M
Net Interest Expenses	-28.74M	-22.44M	-9.47M	-3.84M	-35.13M
Other Non Operating Income (Expenses)	-	-	17.95M	8.48M	79K
EBT, Excl. Unusual Items	-92.58M	-147M	-187M	-357M	-366M
Restructuring Charges	-	-	-	-34K	-3.38M
Merger & Related Restructuring Charges	-4.9M	-5.2M	-8.71M	-21.27M	-
Impairment of Goodwill	-	-	-	-180M	-126M
Gain (Loss) On Sale Of Assets	-	-	1.28M	4.38M	13.95M
Asset Writedown	-	-	-	-961K	-
Other Unusual Items	-9.4M	67M	-2.38M	-	-4.4M
EBT, Incl. Unusual Items	-107M	-85.4M	-197M	-555M	-486M
Income Tax Expense	-	-	58K	170K	1.38M
Earnings From Continuing Operations	-107M	-85.4M	-197M	-556M	-487M
Net Income to Company	-107M	-85.4M	-197M	-556M	-487M
Minority Interest	-	-	7.21M	387K	-
Net Income - (IS)	-107M	-85.4M	-190M	-555M	-487M
Net Income to Common Incl Extra Items	-107M	-85.4M	-190M	-555M	-487M
Net Income to Common Excl. Extra Items	-107M	-85.4M	-190M	-555M	-487M
Per Share Items
Net EPS - Basic	-	-1.35	-9.28	-22.6	-3.69
Basic EPS - Continuing Operations	-	-1.35	-9.28	-22.6	-3.69
Basic Weighted Average Shares Outstanding	-	63.26M	20.48M	24.57M	132M
Net EPS - Diluted	-	-1.35	-9.3	-22.6	-3.69
Diluted EPS - Continuing Operations	-	-1.35	-9.3	-22.6	-3.69
Diluted Weighted Average Shares Outstanding	-	63.26M	20.48M	24.57M	132M
Normalized Basic EPS	-	-1.45	-5.37	-9.08	-1.73
Normalized Diluted EPS	-	-1.45	-5.37	-9.08	-1.73
Supplemental Items
EBITDA	-27.08M	-71.04M	-148M	-311M	-287M
EBITA	-62.93M	-105M	-174M	-338M	-308M
EBIT	-63.83M	-125M	-196M	-362M	-331M
EBITDAR	-16.83M	-34.01M	-87.03M	-243M	-211M
Effective Tax Rate - (Ratio)	-	-	-0.03	-0.03	-0.28
Current Domestic Taxes	-	-	75K	101K	139K
Current Foreign Taxes	-	-	-	202K	2M
Total Current Taxes	-	-	75K	303K	2.14M
Deferred Domestic Taxes	-	-	-17K	-13K	-2K
Deferred Foreign Taxes	-	-	-	-120K	-753K
Total Deferred Taxes	-	-	-17K	-133K	-755K
Normalized Net Income	-57.86M	-92M	-110M	-223M	-229M
Interest on Long-Term Debt	29.36M	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	5M	7.2M	12.3M	10.5M	8M
Selling and Marketing Expenses	40.62M	55.12M	80.07M	117M	88.83M
General and Administrative Expenses	12.03M	43.81M	98.93M	165M	146M
Research And Development Expense From Footnotes	16.56M	25.81M	40.38M	71.84M	76.97M
Net Rental Expense, Total	10.24M	37.03M	61.41M	67.54M	76.51M
Imputed Operating Lease Interest Expense	-	25.23M	23.48M	16.88M	71.86M
Imputed Operating Lease Depreciation	-	11.79M	37.93M	50.66M	4.65M
Stock-Based Comp., COGS (Total)	455K	293K	4.54M	14.46M	3.93M
Stock-Based Comp., R&D Exp. (Total)	449K	445K	1.34M	3.18M	2.1M
Stock-Based Comp., S&M Exp. (Total)	723K	1.06M	5.18M	11.01M	1.76M
Stock-Based Comp., G&A Exp. (Total)	255K	1.55M	38.61M	60.33M	17.85M
Total Stock-Based Compensation	1.88M	3.34M	49.67M	88.98M	25.63M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	84.05M	313M	785M	586M	264M
Total Cash And Short Term Investments	84.05M	313M	785M	586M	264M
Accounts Receivable, Total	20.01M	50.4M	79.4M	112M	38.24M
Other Receivables	11.77M	8.2M	8.06M	5.52M	11.53M
Total Receivables	31.78M	58.6M	87.46M	118M	49.76M
Inventory	918K	5.32M	9.41M	53.83M	22.26M
Prepaid Expenses	4.79M	13.8M	43.03M	39.72M	55.72M
Restricted Cash	299K	-	-	-	-
Other Current Assets, Total	6.6M	5M	8.6M	22.29M	42.38M
Total Current Assets	128M	396M	933M	820M	434M
Gross Property Plant And Equipment	504M	576M	650M	763M	664M
Accumulated Depreciation	-148M	-189M	-223M	-262M	-257M
Net Property Plant And Equipment	356M	388M	426M	501M	407M
Goodwill	3.73M	400M	437M	348M	218M
Other Intangibles, Total	20.14M	164M	147M	142M	118M
Loans Receivable Long-Term	5.36M	102K	-	-	-
Deferred Charges Long-Term	1.1M	800K	1.4M	1.3M	400K
Other Long-Term Assets, Total	12.72M	12.13M	35.82M	111M	139M
Total Assets	528M	1.36B	1.98B	1.92B	1.32B
Liabilities
Accounts Payable, Total	27.91M	20.92M	43.67M	43.17M	32.97M
Accrued Expenses, Total	45.23M	71.38M	107M	149M	102M
Current Portion of Long-Term Debt	49.2M	62.68M	-	27.01M	24M
Current Portion of Leases	8.65M	15.86M	31.62M	29.94M	22.87M
Unearned Revenue Current, Total	253M	651M	934M	1.08B	723M
Other Current Liabilities	-	17.98M	19.07M	20.02M	1.94M
Total Current Liabilities	384M	840M	1.14B	1.34B	908M
Long-Term Debt	195M	148M	-	226M	235M
Long-Term Leases	3.43M	56.36M	83.46M	82.76M	54.96M
Unearned Revenue Non Current	1.33M	1.98M	1.96M	1.74M	983K
Other Non Current Liabilities	231K	19.5M	24.38M	16.35M	20.15M
Total Liabilities	584M	1.07B	1.24B	1.67B	1.22B
Preferred Stock Non Redeemable	59.96M	402M	-	-	-
Total Preferred Equity	59.96M	402M	-	-	-
Common Stock, Total	3.82M	8.96M	25K	25K	70K
Additional Paid In Capital	-	-	1.45B	1.55B	1.88B
Retained Earnings	-122M	-121M	-721M	-1.28B	-1.76B
Treasury Stock	-	-	-	-7.69M	-7.72M
Comprehensive Income and Other	2.25M	4.48M	-	-10.05M	-10.7M
Total Common Equity	-116M	-108M	730M	252M	97.4M
Minority Interest	-	-	6.08M	-	-
Total Equity	-56.25M	294M	736M	252M	97.4M
Total Liabilities And Equity	528M	1.36B	1.98B	1.92B	1.32B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	-	63.26M	24.42M	25.13M	697M
ECS Total Common Shares Outstanding	-	63.26M	24.58M	24.93M	697M
Book Value / Share	-	-1.7	29.7	10.1	0.14
Tangible Book Value	-140M	-672M	146M	-238M	-239M
Tangible Book Value Per Share	-	-10.62	5.93	-9.54	-0.34
Total Debt	256M	283M	115M	366M	337M
Net Debt	172M	-29.49M	-669M	-220M	72.99M
Debt Equivalent Oper. Leases	81.95M	296M	491M	540M	612M
Minority Interest, Total (Incl. Fin. Div)	-	-	6.08M	-	-
Account Code - Inventory Valuation	-	5	5	8	8
Inventories - Raw Materials, Total	-	-	-	29M	20.4M
Inventories - Finished Goods, Total	-	-	-	24.83M	1.86M
Buildings, Total	1.42M	1.42M	1.42M	1.42M	1.42M
Machinery, Total	474M	479M	491M	578M	489M
Full Time Employees	-	2.01K	2.13K	3K	2.12K
Part Time Employees	-	154	41	106	90
Accumulated Allowance for Doubtful Accounts (Supple)	1.5M	2.3M	5.9M	9.98M	7.86M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-107M	-85.4M	-190M	-555M	-487M
Depreciation & Amortization - CF	35.85M	34.23M	25.6M	26.94M	20.13M
Amortization of Goodwill and Intangible Assets - (CF)	900K	19.5M	21.8M	24.4M	23.3M
Depreciation & Amortization, Total	36.75M	53.73M	47.4M	51.34M	43.43M
Amortization of Deferred Charges, Total - (CF)	4.54M	6.41M	7.42M	15.37M	15.43M
(Gain) Loss From Sale Of Asset	-	-	-	-4.38M	-13.95M
(Gain) Loss on Sale of Investments - (CF)	-38K	-	-	-	-
Asset Writedown & Restructuring Costs	-	-	-	180M	126M
Stock-Based Compensation (CF)	1.88M	3.34M	49.67M	88.98M	25.63M
Provision and Write-off of Bad Debts	567K	7.12M	3.26M	8.13M	1.7M
Other Operating Activities, Total	1K	-	-22.78M	-8.33M	19.94M
Change In Accounts Receivable	1.41M	14.51M	-21.92M	-23.95M	30.06M
Change In Inventories	-70K	-636K	-3.42M	-51.16M	15.7M
Change In Accounts Payable	6.73M	-13.87M	13.12M	-9.7M	-8.09M
Change in Unearned Revenues	30.13M	203M	279M	103M	-348M
Change in Other Net Operating Assets	83K	21.84M	-35.06M	-25.14M	-85.54M
Cash from Operations	-24.88M	210M	126M	-231M	-665M
Capital Expenditure	-18.57M	-7.11M	-46.9M	-124M	-24.41M
Sale of Property, Plant, and Equipment	-	-	13.57M	51.21M	68.31M
Cash Acquisitions	-28.33M	97.1M	7.84M	-75.09M	-
Divestitures	-	-	-	-	13.2M
Sale (Purchase) of Intangible assets	-3.92M	-8.42M	-13.18M	-27.69M	-16.5M
Investment in Marketable and Equity Securities, Total	9.5M	-	-	-	-
Other Investing Activities, Total	-	-	-	-	267K
Cash from Investing	-41.32M	81.58M	-38.67M	-175M	40.87M
Long-Term Debt Issued, Total	-	755K	-	259M	452M
Total Debt Issued	-	755K	-	259M	452M
Long-Term Debt Repaid, Total	-37.71M	-63.45M	-214M	-	-130M
Total Debt Repaid	-37.71M	-63.45M	-214M	-	-130M
Issuance of Common Stock	-	-	658M	-	-
Repurchase of Common Stock	-	-	-	-7.69M	-31K
Issuance of Preferred Stock	128M	-	-	-	-
Other Financing Activities, Total	-3.08M	-93K	-70.3M	-6.73M	-21.69M
Cash from Financing	87.38M	-62.79M	374M	245M	301M
Foreign Exchange Rate Adjustments	-	-	-	-5.42M	-3.87M
Miscellaneous Cash Flow Adjustments	-1K	-1K	-	-	-
Net Change in Cash	21.19M	228M	462M	-167M	-327M
Supplemental Items
Cash Interest Paid	28.37M	21.72M	11.66M	-	31.4M
Levered Free Cash Flow	-	353M	192M	-128M	-552M
Unlevered Free Cash Flow	-	366M	198M	-124M	-527M
Change In Net Working Capital	-	-397M	-276M	-98.61M	363M
Net Debt Issued / Repaid	-37.71M	-62.7M	-214M	259M	323M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	-	-8.26	-7.33	-11.59	-12.77
Return on Total Capital	-	-20.06	-17.14	-30.81	-39.31
Return On Equity %	-	-71.9	-38.3	-112.44	-279.05
Return on Common Equity	-	76.27	-38.08	-113.06	-279.05
Margin Analysis
Gross Profit Margin %	13.52	12.13	11.08	2.75	1.75
SG&A Margin	16.25	18.64	20.13	17.88	18.73
EBITDA Margin %	-7.03	-10.22	-12.43	-19.67	-22.94
EBITA Margin %	-16.35	-15.15	-14.57	-21.38	-24.54
EBIT Margin %	-16.58	-17.95	-16.4	-22.92	-26.4
Income From Continuing Operations Margin %	-27.77	-12.29	-16.51	-35.17	-38.89
Net Income Margin %	-27.77	-12.29	-15.91	-35.14	-38.89
Net Avail. For Common Margin %	-27.77	-12.29	-15.91	-35.14	-38.89
Normalized Net Income Margin	-15.03	-13.24	-9.2	-14.12	-18.25
Levered Free Cash Flow Margin	-	50.76	16.1	-8.11	-44.05
Unlevered Free Cash Flow Margin	-	52.6	16.55	-7.86	-42.02
Asset Turnover
Asset Turnover	-	0.74	0.71	0.81	0.77
Fixed Assets Turnover	-	1.87	2.93	3.41	2.76
Receivables Turnover (Average Receivables)	-	19.74	18.4	16.47	16.64
Inventory Turnover (Average Inventory)	-	195.79	144.19	48.59	32.37
Short Term Liquidity
Current Ratio	0.33	0.47	0.82	0.61	0.48
Quick Ratio	0.3	0.44	0.77	0.52	0.35
Operating Cash Flow to Current Liabilities	-0.06	0.25	0.11	-0.17	-0.73
Days Sales Outstanding (Average Receivables)	-	18.54	19.84	22.16	21.93
Days Outstanding Inventory (Average Inventory)	-	1.87	2.53	7.51	11.28
Average Days Payable Outstanding	-	14.53	11.06	10.03	11.58
Cash Conversion Cycle (Average Days)	-	5.88	11.31	19.64	21.63
Long Term Solvency
Total Debt/Equity	-455.89	96.42	15.63	145.26	345.9
Total Debt / Total Capital	128.1	49.09	13.52	59.23	77.57
LT Debt/Equity	-353.05	69.69	11.34	122.65	297.78
Long-Term Debt / Total Capital	99.2	35.48	9.8	50.01	66.78
Total Liabilities / Total Assets	110.66	78.39	62.84	86.9	92.6
EBIT / Interest Expense	-2.17	-5.43	-20.57	-48.19	-8.02
EBITDA / Interest Expense	-0.57	-1.48	-9.14	-32.37	-5.11
(EBITDA - Capex) / Interest Expense	-1.21	-1.79	-14.07	-48.82	-5.71
Total Debt / EBITDA	-15.23	-8.33	-1.32	-1.5	-1.6
Net Debt / EBITDA	-10.24	0.87	7.69	0.9	-0.35
Total Debt / (EBITDA - Capex)	-7.24	-6.89	-0.86	-1	-1.43
Net Debt / (EBITDA - Capex)	-4.87	0.72	5	0.6	-0.31
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	15.89	80.56	71.84	32.28	-20.66
Gross Profit, 1 Yr. Growth %	-6.59	62.01	53.51	-43.98	-49.68
EBITDA, 1 Yr. Growth %	44.25	162.35	111.31	109.36	-11.16
EBITA, 1 Yr. Growth %	21.02	67.28	66.58	94.04	-12.24
EBIT, 1 Yr. Growth %	22.75	95.47	57.96	84.9	-11.74
Earnings From Cont. Operations, 1 Yr. Growth %	28.4	-20.09	130.93	181.67	-12.27
Net Income, 1 Yr. Growth %	28.4	-20.09	141.63	192.16	-12.21
Normalized Net Income, 1 Yr. Growth %	11.87	59.01	29.67	102.97	-1