- Wheels Up Experience Inc (NYSE:UP) reported a fourth-quarter revenue increase of 64% year-over-year to $345.04 million, beating the consensus of $280.69 million.
- Revenue growth was driven by solid flight demand and the impact of COVID-19 on 2020 results.
- The company's Active Members grew 31% Y/Y to 12,040 in total, and Active Users grew 11% to 12,543, primarily driven by the growth in Active Members.
- Live Flight Legs increased by 63% Y/Y to 20,296, and Flight revenue per Live Flight Leg increased 2% to $12,428.
- EPS loss widened to $(0.31) from $(0.19) in 4Q20.
- The company reported a gross loss of $(12.64) million, compared to a profit of $7.29 million in 4Q20.
- Loss from operations totaled $(82.24) million versus $(29.29) million in 4Q20.
- Adjusted EBITDA loss increased to $(46.29) million from $(11.25) million a year ago.
- Wheels Up's cash generated from operating activities amounted to $126.49 million in FY21, compared to $209.64 million a year ago.
- Price Action: UP shares are trading lower by 6.27% at $3.29 during the market session on Thursday.
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Wheels Up Experience Clocks 64% Revenue Growth In Q4
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