Wheels Up Experience (WSUPW) 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 763.14% year-over-year to $172.9 million; the TTM figure through Sep 2025 stood at -$116.8 million (down 146.63% YoY), while the FY2024 annual figure was $84.3 million, down 5.08% from the prior year.
• Cost of Revenue was $172.9 million for Q3 2025 at Wheels Up Experience, up from $24.4 million in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $408.9 million in Q2 2022 to a low of -$472.5 million in Q4 2024.
• Historically, Cost of Revenue has averaged $93.2 million across 5 years, with a median of $25.8 million in 2023.
• The sharpest annual moves came in 2022 and 2024: Cost of Revenue jumped 2184.98% in 2022, then tumbled 2826.75% in 2024.
• A 5-year view of Cost of Revenue shows it stood at $80.1 million in 2021, then soared by 394.1% to $395.6 million in 2022, then sank by 95.62% to $17.3 million in 2023, then sank by 2826.75% to -$472.5 million in 2024, then surged by 136.59% to $172.9 million in 2025.
• The last three Cost of Revenue figures came in at $172.9 million (Q3 2025), $24.4 million (Q2 2025), and $158.4 million (Q1 2025), per Business Quant data.