Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Income Statement [Abstract]        
Revenue $ 425,512,000 $ 285,580,000 $ 751,147,000 $ 547,237,000
Costs and expenses:        
Cost of revenue 408,898,000 255,188,000 741,656,000 489,695,000
Technology and development 14,606,000 8,025,000 25,797,000 15,049,000
Sales and marketing 33,688,000 17,895,000 56,931,000 33,689,000
General and administrative 46,973,000 15,786,000 85,877,000 33,955,000
Depreciation and amortization 16,134,000 13,482,000 30,362,000 27,313,000
Gain on sale of aircraft held for sale (663,000) 0 (2,634,000) 0
Total costs and expenses 519,636,000 310,376,000 937,989,000 599,701,000
Loss from operations (94,124,000) (24,796,000) (186,842,000) (52,464,000)
Other income (expense):        
Change in fair value of warrant liability 2,129,000 0 5,760,000 0
Interest income 405,000 6,000 482,000 18,000
Interest expense 0 (4,164,000) 0 (8,721,000)
Other expense, net (850,000) 0 (880,000) 0
Total other income (expense) 1,684,000 (4,158,000) 5,362,000 (8,703,000)
Loss before income taxes (92,440,000) (28,954,000) (181,480,000) (61,167,000)
Income tax expense (320,000) 0 (320,000) 0
Net loss (92,760,000) (28,954,000) (181,800,000) (61,167,000)
Less: Net loss attributable to non-controlling interests 0 (2,798,000) (387,000) (5,602,000)
Net loss attributable to Wheels Up Experience Inc. $ (92,760,000) $ (26,156,000) $ (181,413,000) $ (55,565,000)
Net loss per share of Class A common stock:        
Basic (in dollars per share) $ (0.38) $ (0.15) $ (0.74) $ (0.33)
Diluted (in dollars per share) $ (0.38) $ (0.15) $ (0.74) $ (0.33)
Weighted-average shares of Class A common stock outstanding:        
Basic (in shares) 244,086,036 169,023,943 244,347,439 168,935,745
Diluted (in shares) 244,086,036 169,023,943 244,347,439 168,935,745