Wheels Up Experience Inc. (UP) Revenue History
Annual and quarterly revenue from 2019 to 2025
Compound Annual Growth Rate (CAGR)
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UP Revenue Growth
Revenue Breakdown (FY 2025)
UP's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
UP Revenue Analysis (2019–2025)
As of May 8, 2026, Wheels Up Experience Inc. (UP) generated trailing twelve-month (TTM) revenue of $736.5 million, reflecting significant decline in growth of -10.2% year-over-year. The most recent quarter (Q4 2025) recorded $183.8 million in revenue, down 0.9% sequentially.
Looking at the longer-term picture, UP's 5-year compound annual growth rate (CAGR) stands at +1.2%, indicating moderate growth over time. The company achieved its highest annual revenue of $1.58 billion in 2022.
Revenue diversification analysis shows UP's business is primarily driven by Flight-Related Services (100%). With over half of revenue concentrated in Flight-Related Services, the company maintains significant focus in this area while developing other growth vectors.
When compared to Industrials sector peers including FLYW (+36772.8% YoY), SOAR (-30.6% YoY), and AIRO, UP has underperformed the peer group in terms of revenue growth. Compare UP vs FLYW →
UP Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| UPCurrent | $736M | -10.2% | +1.2% | -34.3% | |
 FLYW | $623M | +36772.8% | +36.4% | 1.8% | |
 SOAR | $46M | -30.6% | - | -20.2% | |
 AIRO | $87M | - | - | -20.1% | |
 UAL | $59.1B | +4.7% | +30.9% | 8.0% | |
 DAL | $63.4B | +2.8% | +30.0% | 9.2% |
UP Historical Revenue Data (2019–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $736.5M | -7.0% | $16.6M | 2.2% | $-252,286,000 | -34.3% |
| 2024 | $792.1M | -36.8% | $59.0M | 7.5% | $-258,791,000 | -32.7% |
| 2023 | $1.25B | -20.7% | $-37,722,000 | -3.0% | $-443,557,000 | -35.4% |
| 2022 | $1.58B | +32.3% | $-26,501,000 | -1.7% | $-560,007,000 | -35.4% |
| 2021 | $1.19B | +71.8% | $22.4M | 1.9% | $-203,278,000 | -17.0% |
| 2020 | $695.0M | +80.6% | $60.2M | 8.7% | $-62,966,000 | -9.1% |
| 2019 | $384.9M | - | $4.9M | 1.3% | $-78,128,000 | -20.3% |
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Start ComparisonUP — Frequently Asked Questions
Quick answers to the most common questions about buying UP stock.
Is UP's revenue growth accelerating or slowing?
UP revenue declined -10.2% year-over-year, contrasting with the 5-year CAGR of +1.2%. TTM revenue fell to $736M. This reverses the prior growth trend.
What is UP's long-term revenue growth rate?
Wheels Up Experience Inc.'s 5-year revenue CAGR of +1.2% reflects the variable expansion pattern. Current YoY growth of -10.2% is below this long-term average.
How is UP's revenue distributed by segment?
UP reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2019-2025 are available for download. Segment mix reveals concentration and diversification trends.