Wheels Up Q3 revenue falls 11% to $164.8 million; net loss widens to $89.4 million
Wheels Up reported third-quarter 2026 revenue of $164.8 million, down 11% from a year earlier, and a net loss of $89.4 million, wider than the $83.7 million loss in the prior-year period. The company also disclosed a new $100 million revolving credit facility from Delta Air Lines that accrues 10% interest payable in kind and matures December 1, 2027, along with an order for six Embraer jets with an aggregate price of approximately $90.0 million. For shareholders, headline losses grew and the company is adding debt, though its Adjusted EBITDAR loss narrowed.
Key points
- Q3 2026 revenue was $164.8 million, down 11% year over year; net loss was $89.4 million, or $(2.48) per share, versus $83.7 million a year earlier.
- Adjusted EBITDAR loss narrowed to $13.2 million from $23.4 million; Adjusted Contribution Margin rose to 16.4% from 12.7%.
- Delta committed an additional $100 million revolving credit facility under Amendment No. 6, dated November 4, 2026, with 10% per annum interest payable in kind and a scheduled maturity of December 1, 2027.
- Six Phenom 300E jets were ordered from Embraer for approximately $90.0 million, with deliveries expected in the third and fourth quarters of 2027; a $17.4 million PDP Equipment Notes issuance funded the deposit.
The filing
Written by AI on Nov 9, 2026, 11:43 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 05, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.