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Flyexclusive vs Wheels Up Experience: revenue, profit, margins and growth compared

Flyexclusive brought in $375.9M of revenue in fiscal 2025, Wheels Up Experience $736.5M in fiscal 2025. Revenue changed by +14.9% at Flyexclusive and -7.0% at Wheels Up Experience on the year before, so Flyexclusive grew faster. Flyexclusive kept -4.7% of its revenue as net profit, Wheels Up Experience -39.9%. Free cash flow was -$24.3M at Flyexclusive and -$259.9M at Wheels Up Experience.

Side by side, latest fiscal year

FLYXUP
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$375.9M$736.5M
Revenue growth+14.9%-7.0%
Net income-$17.6M-$294.2M
Net margin-4.7%-39.9%
Free cash flow-$24.3M-$259.9M
Free cash flow margin-6.5%-35.3%
Earnings per share (diluted)-$1.01-$0.42
Cash$29.3M$133.9M
Debt$108.9M$671.3M
Price to earningsn/an/a
Market value$129.6M$136.8M
Dividend yieldn/an/a
Rank by revenue in sector#596 of 778 · Consumer discretionary#510 of 778 · Consumer discretionary

Over the years

Revenue
FLYX FY2022: $320MFLYX FY2023: $315.4MFLYX FY2024: $327.3MFLYX FY2025: $375.9MUP FY2019: $384.9MUP FY2020: $695MUP FY2021: $1.2BUP FY2022: $1.6BUP FY2023: $1.3BUP FY2024: $792.1MUP FY2025: $736.5MFY19FY20FY21FY22FY23FY24FY25
FLYX $375.9MUP $736.5M
Net income
FLYX FY2022: $6MFLYX FY2023: -$47.1MFLYX FY2023: -$46.8MFLYX FY2024: -$21.1MFLYX FY2025: -$17.6MUP FY2019: -$96.3MUP FY2020: -$78.6MUP FY2021: -$190MUP FY2022: -$555.2MUP FY2023: -$487.4MUP FY2024: -$339.6MUP FY2025: -$294.2MFY19FY20FY21FY22FY23FY24FY25
FLYX -$17.6MUP -$294.2M
Net margin
FLYX FY2022: 1.9%FLYX FY2023: -14.9%FLYX FY2024: -6.4%FLYX FY2025: -4.7%UP FY2019: -25.0%UP FY2020: -11.3%UP FY2021: -15.9%UP FY2022: -35.1%UP FY2023: -38.9%UP FY2024: -42.9%UP FY2025: -39.9%FY19FY20FY21FY22FY23FY24FY25
FLYX -4.7%UP -39.9%
Revenue growth
FLYX FY2024: +3.8%FLYX FY2025: +14.9%UP FY2020: +80.6%UP FY2021: +71.8%UP FY2022: +32.3%UP FY2023: -20.7%UP FY2024: -36.8%UP FY2025: -7.0%FY20FY21FY22FY23FY24FY25
FLYX +14.9%UP -7.0%
Free cash flow
FLYX FY2022: -$100.3MFLYX FY2023: -$75MFLYX FY2024: -$67.6MFLYX FY2025: -$24.3MUP FY2019: -$29MUP FY2020: $202.5MUP FY2021: $111.3MUP FY2022: -$314.2MUP FY2023: -$685.5MUP FY2024: -$200.7MUP FY2025: -$259.9MFY19FY20FY21FY22FY23FY24FY25
FLYX -$24.3MUP -$259.9M

Fiscal years as each company reports them; the two may end in different months.

Questions about Flyexclusive and Wheels Up Experience

Which is bigger by revenue, Flyexclusive or Wheels Up Experience?

Wheels Up Experience is bigger by revenue: $736.5M in fiscal 2025, against $375.9M for Flyexclusive in fiscal 2025.

Which keeps more of its revenue as profit, Flyexclusive or Wheels Up Experience?

Flyexclusive had a net margin of -4.7% in fiscal 2025; Wheels Up Experience had -39.9% in fiscal 2025.

Which grew revenue faster, Flyexclusive or Wheels Up Experience?

In their latest fiscal years revenue changed by +14.9% at Flyexclusive and -7.0% at Wheels Up Experience.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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