Overview

* Wheels Up Q2 revenue down 3% yr/yr, totaling $189.6 mln

* Gross profit improves by $13.2 mln yr/yr despite revenue decline

* Adjusted EBITDA loss improves 22% yr/yr

Outlook

* Company expects $50 mln annual cash savings from efficiency initiatives

* Wheels Up to add three Challenger 300 aircraft in Q3 2025

* Company anticipates full impact of cost savings by late 2026

* Wheels Up focuses on fleet modernization and Delta partnership for growth

Result Drivers

* FLEET MODERNIZATION - Co's fleet modernization strategy led to $13 mln improvement in gross profit despite fewer aircraft

* DELTA PARTNERSHIP - Strong growth in Delta partnership with corporate membership fund sales up over 25% yr/yr

* COST SAVINGS - Initiatives expected to drive $50 mln in annual cash savings through fleet modernization and efficiency improvements

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $189.60

Revenue mln

Q2 Net -$82.30

Income mln

Q2 -$29 mln

Adjusted

EBITDA

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)