This is a purely technical restatement of historical non-GAAP reconciliations with no effect on current financials or guidance. No trading signal.
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Executive Summary
Wheels Up filed an 8-K/A to correct historical non-GAAP reconciliation errors in prior earnings materials. The amendment restates Adjusted EBITDA and Adjusted EBITDAR for periods from Q1 2024 through Q1 2026, correcting an understatement by reclassifying loss on debt extinguishment and eliminating double-counted fleet modernization expenses. No current-period financials or guidance are affected.
Key Facts
- Amendment corrects inadvertent errors in historical reconciliations of Adjusted EBITDA and Adjusted EBITDAR to Net income (loss) for periods Q1 2024 through Q1 2026.
- Errors resulted in an understatement of Adjusted EBITDA and Adjusted EBITDAR for all affected historical periods.
- Corrections include: (i) reclassifying Loss on extinguishment of debt as an addition rather than a deduction; (ii) eliminating double-counted amounts already in Fleet modernization expense in 2024; (iii) recalculating totals.
- No impact on Q2 2026 unaudited financial statements or non-GAAP measures reported in the 10-Q.
- Original 8-K was filed August 4, 2026; this amendment filed October 9, 2026.
Financial Impact
Non-cash restatement of historical non-GAAP metrics only; no impact on GAAP financials or current-period results.
Risk Factors
- None from this filing — no material financial or operational impact.
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-065562 |
| Document: up-20260731.htm | 0001628280-26-065562 |
| Document: 0001628280-26-065562-index-headers.html | 0001628280-26-065562 |
| Document: 0001628280-26-065562-index.html | 0001628280-26-065562 |
| Document: 0001628280-26-065562.txt | 0001628280-26-065562 |
| 8-K Data (Synthetic) | 0001628280-26-065562 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 9, 2026 17d ago | 8-K | $3.59 | awaiting T+60 | — | $3.08 (−14.21%) |
Aug 14, 2026 10w ago | 8-K | $4.91 | awaiting T+60 | — | $3.08 (−37.27%) |
Aug 4, 2026 12w ago | 8-K | $5.75 | awaiting T+60 | — | $3.08 (−46.43%) |
Jun 17, 2026 18w ago | Insider Cluster | $7.84 $3.68 | ▼ −53.06% | ▼ −54.95% | $3.08 (−60.71%) |
May 20, 2026 22w ago | Insider Cluster | $7.97 $4.91 | ▼ −38.39% | ▼ −42.69% | $3.08 (−61.36%) |
May 15, 2026 23w ago | Insider Cluster | $5.63 $5.25 | ▼ −6.75% | ▼ −11.60% | $3.08 (−45.29%) |
May 15, 2026 23w ago | Insider Cluster | $5.63 $5.25 | ▼ −6.75% | ▼ −11.60% | $3.08 (−45.29%) |
US Market Status
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