Wheels Up
Revolutionary membership-based private aviation company that reduces the upfront cost to fly privately while providing an unrivaled lifestyle platform.
Launch date
Employees
Market cap
AUD2.4b
Enterprise valuation
AUD2.7b (Public information from Sep 2024)
Share price
$2.28 UP
New York City New York (HQ)
Financials
Estimates*
| USD | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenues | 385m | 695m | 1.2b | 1.6b | 1.3b | 1.7b | 2.1b |
| % growth | - | 81 % | 72 % | 32 % | (21 %) | 34 % | 26 % |
| EBITDA | (38.2m) | (3.9m) | (150m) | (316m) | (270m) | (55.0m) | 33.0m |
| % EBITDA margin | (10 %) | (1 %) | (13 %) | (20 %) | (22 %) | (3 %) | 2 % |
| Profit | (96.3m) | (78.6m) | (190m) | (507m) | (487m) | (148m) | (61.0m) |
| % profit margin | (25 %) | (11 %) | (16 %) | (32 %) | (39 %) | (9 %) | (3 %) |
| EV / revenue | - | 0.4x | 0.4x | 0.0x | 2.0x | 1.2x | 0.9x |
| EV / EBITDA | - | -69.3x | -3.1x | -0.1x | -9.1x | -35.5x | 59.1x |
| R&D budget | 14.0m | 21.0m | 33.6m | 57.2m | 61.9m | - | - |
| R&D % of revenue | 4 % | 3 % | 3 % | 4 % | 5 % | - | - |
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | N/A | - | |
N/A | Seed | ||
$115m | Growth Equity VC | ||
| N/A | $121m | Debt | |
$118m | Growth Equity VC | ||
$128m Valuation: $972m | Growth Equity VC | ||
$108m Valuation: $2.1b 3.0x EV/LTM Revenues -540.3x EV/LTM EBITDA | SPAC IPO | ||
$550m Valuation: $2.1b 3.0x EV/LTM Revenues -540.3x EV/LTM EBITDA | SPAC Private Placement | ||
* | $500m Valuation: $526m 0.3x EV/LTM Revenues -1.7x EV/LTM EBITDA | Acquisition | |
* | $15.0m | Debt | |
* | $40.0m | Post IPO Debt | |
| Total Funding | AUD1.5b | ||
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ACQUISITION by Wheels Up Jan 2022