Wheels Up Experience
Connecting private-aviation membership and charter access with Delta travel benefits.
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Profile
Membership programs and charter flights provide private-aircraft access through a technology-enabled marketplace. The Signature Program’s premium jet fleet and Delta-linked commercial-travel benefits define the current offering.
Membership programs and charter flights provide access to private aircraft through a technology-enabled marketplace. The current Signature Program is supported by a premium jet fleet after the company completed its shift away from legacy programs and fleets. The offering originated in a membership model and was broadened after the Delta Private Jets combination.
Connections with Delta’s premium commercial-travel ecosystem include eligibility for Medallion status, SkyMiles accrual, and specified use of eligible Wheels Up Fund balances. Programmatic and charter demand now sit alongside that partnership; its operating fleet has been consolidated under WUPJ’s single FAA operating certificate.
Company facts
Categories
Key statistics
Year to date −62.9% · Average volume (30d) 87.9K
Analysts
Ratings
Target range
Latest analyst notes
No analyst notes in the last 24 months.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | — | −$2.35 | — | — | $182.0M | — | −8.00% |
| May 11, 2026Q1 FY26 | — | −$1.97 | — | — | $168.9M | — | −2.71% |
| Feb 19, 2026Q4 FY25 | — | −$0.40 | — | $472.7M | $183.8M | −61.1% | −0.32% |
| Nov 5, 2025Q3 FY25 | — | −$2.00 | — | $499.0M | $185.5M | −62.8% | +5.00% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $177.5M | $189.6M | $185.5M | $183.8M | $168.9M | $182.0M | |
| Gross profit | −$1.1M | $15.7M | $12.6M | −$10.6M | −$2.0M | $21.7M | |
| Operating income | −$80.8M | −$59.6M | −$61.3M | −$50.6M | −$59.3M | −$74.6M | |
| Net income | −$99.3M | −$82.3M | −$83.7M | −$28.9M | −$83.0M | −$107.2M | |
| Diluted EPS | −$2.80 | −$2.40 | −$2.40 | −$0.80 | −$2.29 | −$2.97 | |
| Gross margin | -0.6% | 8.3% | 6.8% | -5.8% | -1.2% | 11.9% | |
| Operating margin | -45.5% | -31.4% | -33.1% | -27.5% | -35.1% | -41.0% |
Fiscal years (4-quarter sums)FY21 $1.19B · FY22 $1.58B · FY23 $1.25B · FY24 $792.1M · FY25 $736.5M
Revenue by product · FY25
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $86.3M · Total debt $714.4M · Total assets $926.6M · Shareholders' equity −$560.3M
Dividends
No dividends on record.
Ownership
Shares outstanding 36.26M · Float 22.62M · 62.4% free float
A split settled inside the quarter being compared, so quarter-on-quarter change is not shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Delta Air Lines, Inc. | 13.17M | 36.32% | 13F | Aug 14, 2026 |
| Knighthead Capital Management, LLC | 12.91M | 35.60% | 13F | Aug 14, 2026 |
| CK Wheels LLC · 10 percent owner | 12.87M | 35.49% | Form 4 | Jun 23, 2026 |
| Whitebox Advisors LLC | 1.02M | 2.82% | 13F | Aug 14, 2026 |
| Kore Advisors LP | 770.2K | 2.12% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 10, 2026 | Meaghan Danielle Wells | officer: Chief Growth Officer | −4,358 | $5.41 |
| Jun 23, 2026 | CK Wheels LLC | 10 percent owner | −100 | $7.00 |
| Jun 18, 2026 | CK Wheels LLC | 10 percent owner | −27,524 | $8.05 |
| Jun 17, 2026 | CK Wheels LLC | 10 percent owner | −5,309 | $8.07 |
| Jun 16, 2026 | CK Wheels LLC | 10 percent owner | −4,021 | $8.15 |
Peers
- flyExclusive
Fractional, Jet Club and charter programs overlap in U.S. private aviation
- Surf Air Mobility
On-demand private-charter platform for larger-cabin and longer trips
- Joby Aviation
Blade's charter-broker operation serves premium urban and fixed-wing flyers
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Wheels Up Experience | $4.89 | +0.20% | $177.3M | — | — | 0.2 | −4.0% |
| flyExclusive | $1.23 | +0.82% | $99.2M | — | — | 0.2 | +21.7% |
| Surf Air Mobility | $0.7190 | +0.55% | $79.7M | — | — | 0.7 | +7.6% |
| Joby Aviation | $7.01 | +0.57% | $6.87B | — | — | 59.0 | +257,493.3% |
| Median | — | — | 0.7 | +21.7% |





