)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
Wheels Up Experience (UP) investor relations material
Wheels Up Experience Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Revenue for Q3 2025 was $185.5 million, down 4% year-over-year, mainly due to reduced flight revenue from discontinued Connect and Pay-As-You-Fly members, partially offset by growth in core and corporate members.
Net loss widened to $83.7 million, or $(0.12) per share, a 45% increase compared to Q3 2024.
The company launched the Wheels Up Signature Membership, expanded its premium jet fleet, and continued its fleet modernization strategy, with Phenom 300 becoming the largest fleet type and Challenger fleet reaching programmatic scale.
Delta partnership drove record corporate Membership Fund sales, up over 15% year-over-year, and Signature Memberships accounted for nearly 20% of block sales in September and October.
Cost reduction initiatives are expected to yield $70 million or more in annual savings, with full realization by Q3 2026.
Financial highlights
Q3 2025 revenue decreased by $8.4 million year-over-year, mainly due to lower membership and other revenue.
Total Gross Bookings rose 5% year-over-year to $266.6 million, driven by 14% growth in on-demand charter offerings.
Adjusted EBITDA for Q3 2025 was $(23.2) million, and Adjusted EBITDAR was $(19.7) million, both pressured by fleet migration inefficiencies.
Adjusted Contribution Margin for Q3 2025 was 12.7%, down from 14.8% year-over-year.
For the nine months ended September 30, 2025, revenue was $552.7 million (down 6% year-over-year), with a net loss of $265.3 million.
Outlook and guidance
Productivity initiatives are expected to exceed the original $50 million goal, now targeting $70 million or more in annual run-rate cost savings by Q1 2026, with full benefit by Q3 2026.
Management expects Q4 financial results to be the best since the transformation began and projects positive Adjusted EBITDAR for 2026.
Fleet modernization will continue, with 50% of the controlled jet fleet expected to be premium aircraft by year-end 2025 and at least 80% Phenom and Challenger aircraft by year-end 2026.
Liquidity needs for the next 12 months are expected to be met through cash, operations, asset sales, and available credit facilities.
Fleet migration margin pressure timeline?
Full run-rate cost savings realization timeline?
Signature membership's long-term revenue mix impact?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Wheels Up Experience earnings date
Q4 202512 Mar, 2026
Next Wheels Up Experience earnings date
Q4 202512 Mar, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Wheels Up Experience Inc. is a privately owned and operated company providing aviation services to the entertainment industry. Providing unparalleled luxury, convenience, and service, we are a leading provider of corporate flight management, private jets and charter flights to clients around the world. Wheels Up Experience Inc. is based in New York, New York.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage