Wheels Up Q2 2024 Earnings Report
Key Takeaways
Wheels Up reported a revenue of $196 million, a net loss of $97 million, and an adjusted EBITDA loss of $37 million. The company focused on more profitable flying and divested non-core assets, leading to an increased adjusted contribution margin of 7.8%.
Revenue decreased to $196 million due to the divestiture of non-core assets and a focus on more profitable flying.
Adjusted Contribution Margin increased year-over-year to 7.8%.
Net loss improved year-over-year to $97 million.
Adjusted EBITDA improved year-over-year to a loss of $37 million.
Wheels Up
Wheels Up
Wheels Up Revenue by Segment
Forward Guidance
This press release contains forward-looking statements regarding the impact of cost reduction efforts, market acceptance of products and services, market growth potential, liquidity, ability to achieve positive Adjusted EBITDA, ability to perform under contractual obligations, potential strategic actions, and the impacts of general economic and geopolitical conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income