CEO Mattson's concentrated buying post-earnings is a rare bullish insider signal at a distressed company, but the CSO's same-day sale and the 5% revenue decline prevent a pure bullish read. The Delta-led $100M term loan provides near-term liquidity, but the $83M quarterly net loss and OTC listing status keep the risk profile elevated. Watch for Q2 2026 results to see if the fleet modernization and Signature membership growth translate to revenue stabilization.
Price Chart
Executive Summary
CEO George Mattson purchased $138K of UP stock in three open-market buys over three days (May 13-15), while CSO Mark Briffa sold $19K on May 13. The cluster follows a Q1 earnings release (May 11) showing revenue down 5% YoY to $168.9M, a $83M net loss, and a new $100M Delta-led term loan. Mattson's buying is a strong bullish signal from the top executive, but the CSO's sale and the company's ongoing losses temper the read.
Key Financial Metrics
Key Facts
- CEO Mattson bought 26,316 shares total at ~$5.13-$5.48, worth ~$138K.
- CSO Briffa sold 3,804 shares at $4.99, worth ~$19K.
- Q1 2026 GAAP revenue $168.9M, down 5% YoY; net loss $83M.
- Delta-led group committed a new $100M term loan, with potential to expand by $100M.
- Fleet modernization completed 18 months ahead of schedule; Phenom/Challenger fleet doubled YoY to 36 aircraft.
- Adjusted EBITDAR loss improved 3% YoY to $18.3M.
- Total cluster value ~$157K, representing ~0.08% of $202M market cap.
- Cross-filing context: earnings within 4 days of cluster; all cross-filing pairs are AMPLIFIERs per actuarial calibration.
Financial Impact
CEO purchases of ~$138K represent 0.07% of market cap; CSO sale of ~$19K is 0.01%.
Risk Factors
- Revenue still declining 5% YoY despite fleet transition completion.
- Net loss of $83M in Q1 2026; path to profitability unclear.
- Stock trades OTC (not NYSE) — liquidity and institutional access risk.
- CSO sale, though small, creates mixed insider signal alongside CEO buys.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-UP-1778889641125 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 9, 2026 16d ago | 8-K | $3.59 | awaiting T+60 | — | $3.11 (−13.37%) |
Aug 14, 2026 10w ago | 8-K | $4.91 | awaiting T+60 | — | $3.11 (−36.66%) |
Aug 4, 2026 11w ago | 8-K | $5.75 | awaiting T+60 | — | $3.11 (−45.91%) |
Jun 17, 2026 18w ago | Insider Cluster | $7.84 $3.68 | ▼ −53.06% | ▼ −54.95% | $3.11 (−60.33%) |
May 20, 2026 22w ago | Insider Cluster | $7.97 $4.91 | ▼ −38.39% | ▼ −42.69% | $3.11 (−60.98%) |
May 15, 2026 23w ago | Insider Cluster | $5.63 $5.25 | ▼ −6.75% | ▼ −11.60% | $3.11 (−44.76%) |
May 15, 2026 23w ago | Insider Cluster | $5.63 $5.25 | ▼ −6.75% | ▼ −11.60% | $3.11 (−44.76%) |
US Market Status
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