Wheels Up Experience (UP) Gross Margin (2020 - 2025)
Wheels Up Experience (UP) posted quarterly Gross Margin of 6.8% for Q3 2025, down 715.0% year-over-year from 1.11% in Q3 2024, and down 17.8% quarter-over-quarter from 8.27% in Q2 2025.
Wheels Up Experience (UP) Gross Margin (2020 - 2025) Analysis & Trends
Wheels Up Experience's Gross Margin history runs 6 years deep, the most recent figure standing at 6.8% for Q3 2025.
- In Q3 2025, Gross Margin fell 715.0% year-over-year to 6.8%; the TTM figure through Sep 2025 stood at 10.03% (up 692.0% YoY), while the FY2024 annual figure was 7.45%, up 579.0% from the prior year.
- Gross Margin for Q3 2025 stood at 6.8%, down from 8.27% in the prior quarter.
- The five-year high for Gross Margin was 13.95% in Q3 2024, with the low at 2.19% in Q1 2022.
- The 5-year median for Gross Margin is 4.12% (2022), against an average of 5.14%.
- The sharpest annual moves came in 2022 and 2024: Gross Margin slumped 1256 bps in 2022, then jumped 1578 bps in 2024.
- Wheels Up Experience's Gross Margin stood at 0.17% in 2021, then jumped by 1673 bps to 3.09% in 2022, then tumbled by 160 bps to 1.84% in 2023, then soared by 856 bps to 13.94% in 2024, then slumped by 51 bps to 6.8% in 2025.
- Business Quant data shows UP's Gross Margin at 6.8% in Q3 2025, 8.27% in Q2 2025, and 10.76% in Q1 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Southeast Airport | 7.81 Bn | 7.16 Bn | - | - |
| 2 | Joby Aviation | 7.35 Bn | 7.35 Bn | 10.34 Mn | 26.76% |
| 3 | Central North Airport | 4.92 Bn | 4.75 Bn | - | - |
| 4 | Corporacion America Airports | 3.78 Bn | 3.02 Bn | 198.55 Mn | 36.93% |
| 5 | AerSale | 263.27 Mn | 253.21 Mn | - | - |
| 6 | Icts International N V | 217.05 Mn | 189.86 Mn | - | - |
| 7 | Wheels Up Experience | 171.38 Mn | 37.46 Mn | - | - |
| 8 | Saker Aviation Services | 5.71 Mn | -2.30 Mn | -11,875.00 | -79.17% |
| 9 | Volato | 2.16 Mn | -115,021.80 | 703,000.00 | 70.51% |
Historic Data
Download Data| Date | Value |
|---|---|
| Sep 30, 2025 | 6.80% |
| Jun 30, 2025 | 8.27% |
| Mar 31, 2025 | 10.76% |
| Dec 31, 2024 | 13.94% |
| Sep 30, 2024 | 13.95% |
| Jun 30, 2024 | 2.34% |
| Mar 31, 2024 | -0.59% |
| Dec 31, 2023 | -1.84% |
| Sep 30, 2023 | 6.30% |
| Jun 30, 2023 | 2.14% |
| Mar 31, 2023 | -0.56% |
| Dec 31, 2022 | 3.09% |
| Sep 30, 2022 | 4.12% |
| Jun 30, 2022 | 3.90% |
| Mar 31, 2022 | -2.19% |
| Dec 31, 2021 | 0.17% |
| Sep 30, 2021 | 6.12% |
| Jun 30, 2021 | 10.64% |
| Mar 31, 2021 | 10.38% |
| Dec 31, 2020 | 10.31% |