Wheels Up Experience (UP) Cost of Revenue (2020 - 2025)

Wheels Up Experience's Cost of Revenue history runs 6 years deep, the most recent figure standing at $172.9 million for Q3 2025.

• In Q3 2025, Cost of Revenue rose 3.61% year-over-year to $172.9 million; the TTM figure through Sep 2025 stood at $681.5 million (down 15.63% YoY), while the FY2024 annual figure was $733.1 million, down 40.52% from the prior year.
• Cost of Revenue for Q3 2025 stood at $172.9 million, down from $174.0 million in the prior quarter.
• The five-year high for Cost of Revenue was $408.9 million in Q2 2022, with the low at $158.4 million in Q1 2025.
• The 5-year median for Cost of Revenue is $255.2 million (2021), against an average of $269.9 million.
• The sharpest annual moves came in 2021 and 2024: Cost of Revenue surged 83.07% in 2021, then slumped 44.36% in 2024.
• Wheels Up Experience's Cost of Revenue stood at $344.4 million in 2021, then rose by 14.86% to $395.6 million in 2022, then sank by 36.58% to $250.9 million in 2023, then declined by 29.75% to $176.3 million in 2024, then retreated by 1.92% to $172.9 million in 2025.
• Business Quant data shows UP's Cost of Revenue at $172.9 million in Q3 2025, $174.0 million in Q2 2025, and $158.4 million in Q1 2025.