Wheels Up Experience Inc. announced its financial results for the second quarter of 2025 on August 7, 2025. The company reported revenue of $189.6 million, a 3% decrease year-over-year from $196.3 million. Total Gross Bookings saw a slight decrease of 1% to $261.9 million.
The net loss for the quarter improved by 15% year-over-year to $(82.3) million, compared to $(97.0) million in Q2 2024. Adjusted EBITDA also improved by 22% year-over-year, reducing to $(29.0) million from $(37.4) million in the prior year's quarter.
Adjusted Contribution Margin increased by 4 percentage points year-over-year to 12.2%, reflecting continued focus on more profitable flying. Fleet Utility, measured as average monthly revenue hours per aircraft, increased by 10% to 41.1 hours.
Notably, the utility for the newly integrated Embraer Phenom 300 series and Bombardier Challenger 300 series aircraft in Wheels Up's controlled fleet were 49 and 54 hours, respectively. This indicates the positive impact of the fleet modernization strategy on asset utilization.
Net cash used in operating activities for the quarter was $(110.8) million, an increase of 12% from $(99.0) million in Q2 2024. Live Flight Legs decreased by 7% year-over-year to 11,971.
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