Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 535,253 $ 312,799
Accounts receivable, net 69,044 50,397
Other receivables 10,112 8,205
Parts and supplies inventories, net 8,742 5,320
Prepaid expenses and other 34,106 18,801
Total current assets 657,257 395,522
Property and equipment, net 313,986 323,090
Operating lease right-of-use assets 112,372 64,479
Goodwill 437,181 400,160
Intangible assets, net 152,416 163,710
Restricted cash 2,177 12,077
Employee loans receivable, net 0 102
Other non-current assets 1,104 849
Total assets 1,676,493 1,359,989
Current liabilities:    
Current maturities of long-term debt 131 62,678
Accounts payable 42,363 20,920
Accrued expenses 83,231 71,381
Deferred revenue, current 585,319 651,096
Operating lease liabilities, current 32,315 15,858
Intangible liabilities, current 2,000 2,000
Other current liabilities 14,942 15,980
Total current liabilities 760,301 839,913
Long-term debt 22 148,411
Deferred revenue, non-current 1,948 1,982
Operating lease liabilities, non-current 87,087 56,358
Warrant liability 15,948 0
Intangible liabilities, non-current 14,583 16,083
Other non-current liabilities 3,548 3,415
Total liabilities 883,437 1,066,162
Commitments and Contingencies
Equity [Abstract]    
Class A common stock, $0.0001 par value; 2,500,000,000 authorized; 245,583,108 and 169,717,416 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively 25 17
Additional paid-in capital 1,460,053 831,226
Accumulated deficit (677,491) (563,441)
Total Wheels Up Experience Inc. stockholders’ equity 782,587 267,802
Non-controlling interests 10,469 26,025
Total equity 793,056 293,827
Total liabilities and equity $ 1,676,493 $ 1,359,989