Wheels Up Experience Inc. · NYSE:UP
Wheels Up Experience — Raymond James 2022 Technology Investors Conference
17 slides from Wheels Up Experience's conference presentation, Dec 7, 2022
Slide 1: Raymond James 2022 Technology Investors Conference
Raymond James 2022 Technology Investors Conference New York, NY December 7, 2022
Slide 2: Disclaimer
Disclaimer Cautionary statement regarding forward-looking statements This presentation contains certain “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are predictions, projections and other statements about future events that are based on c
Slide 3: Market leader with consistent track record of growth and innovation
Market leader WITH CONSISTENT TRACK RECORD OF GROWTH AND INNOVATION $1,550 - $1,580 (2) GR #1 C A $1,194 (1) ON-DEMAND TOTAL REVENUE ($MM) 5% >4 PROVIDER (3) $695 $385 > 73,000 $332 LIVE FLIGHT LEGS (4) 2018A 2019A 2020A 2021A 2022E >12.5K ACTIVE MEMBERS (5) Notes: 1. Based on midpoint of 2022 guida
Slide 4: Current private aviation industry primed for disruption
Current private aviation industry primed for disruption WHEELS UP HAS THE PLATFORM AND TECHNOLOGY TO REVOLUTIONIZE PRIVATE AVIATION Operator market is highly fragmented Ŋ Top 10 operators control only 8% of industry capacity (1) Ŋ 1,800+ operators control fewer than 10 aircraft (1) E-COMMERCE MOBILI
Slide 5: Leading demand generation
Leading demand generation >12.5K Digital Active members (1) Convenience Great experiences at >$80,000 your fingertips: discover, search, and book Core/Business spend per year (2) Total Elevated Solution Lifestyle ~80% Access to one of Exclusive member benefits, Core/Business the world's largest sign
Slide 6: Technology as a differentiator
Technology as a differentiator Leading Wheels Up Fleet Demand FMS Mobile Marketplace 1P (owned/leased) Generation App Extension + + 2P (managed) Optimized "Frictionless" Connecting scheduling bookings market flyers capability with 3rd party Demand shaping operators 3P (third party operators) at poin
Slide 7: Our plan to reach Adjusted EBITDA positive in 2024
Our plan to reach Adjusted EBITDA positive in 2024 Adjusted EBITDA positive in 2024 Breakeven Aircraft utility & operational Expected efficiencies (4) mid-teens Adjusted Contribution Annualized Margin Adjusted Pricing & fuel EBITDA UP FMS surcharges (3) through Dispatch availability Expected 3Q 2022
Slide 8: Question & Answer
Question & Answer
Slide 9: Appendix & Supplemental Financial Information
Appendix & Supplemental Financial Information
Slide 10: Select proforma balance sheet data
Select proforma balance sheet data (1) AS OF SEPTEMBER 30, 2022 (in thousands) Cash and cash equivalents $ 544,698 Deferred revenue (including current portion) $ 968,252 Long-term debt (including current portion) (2) $ 270,000 Operating lease liabilities (including current portion) $ 117,078 Notes:
Slide 11: Reconciliations of non-GAAP financial measures – Adjusted EBITDA
Reconciliations of non-GAAP financial measures – Adjusted EBITDA (4) (i n t h ou s a n ds) Three Months Nine Months Ended September 30, Ended September 30, We include Adjusted EBITDA as supplemental measures for 2022 2021 2022 2021 assessing operating performance in conjunction with the related NET
Slide 12: Reconciliations of non-GAAP financial measures – Adjusted Contribution and Margin
Reconciliations of non-GAAP financial measures – Adjusted Contribution and Adjusted Contribution Margin (1) (i n t h ou s a n d s ) Three Months Nine Months Ended September 30, Ended September 30, We include Adjusted Contribution and Adjusted Contribution Margin as supplemental measures for assessin
Slide 13: Reconciliation of GAAP net loss to non-GAAP Adjusted EBITDA
Reconciliation of GAAP net loss to non-GAAP Adjusted EBITDA (1) THREE MONTHS ENDED SEPTEMBER 30, 2022 (in thousands) GAAP EQUITY-BASED ACQUISITION AND AS REPORTED COMPENSATION EXPENSE INTEGRATION EXPENSE RESTRUCTURING NON-GAAP Revenue: $ 420,356 $ - $ - $ - $ 420,356 Costs and expenses: Cost of reve
Slide 14: Reconciliation of GAAP net loss to non-GAAP Adjusted EBITDA
Reconciliation of GAAP net loss to non-GAAP Adjusted EBITDA (1) THREE MONTHS ENDED SEPTEMBER 30, 2021 (in thousands) GAAP EQUITY-BASED PUBLIC COMPANY ACQUISITION AND CORPORATE HEADQUARTERS AS REPORTED COMPENSATION EXPENSE READINESS EXPENSE INTEGRATION EXPENSE RELOCATION EXPENSE NON-GAAP Revenue: $ 3
Slide 15: Reconciliation of GAAP net loss to non-GAAP Adjusted EBITDA
Reconciliation of GAAP net loss to non-GAAP Adjusted EBITDA (1) NINE MONTHS ENDED SEPTEMBER 30, 2022 (in thousands) GAAP EQUITY-BASED ACQUISITION AND AS REPORTED COMPENSATION EXPENSE INTEGRATION EXPENSE RESTRUCTURING NON-GAAP Revenue: $ 1,171,503 $ - $ - $ - $ 1,171,503 Costs and expenses: Cost of r
Slide 16: Reconciliation of GAAP net loss to non-GAAP Adjusted EBITDA
Reconciliation of GAAP net loss to non-GAAP Adjusted EBITDA (1) NINE MONTHS ENDED SEPTEMBER 30, 2021 (in thousands) GAAP EQUITY-BASED PUBLIC COMPANY ACQUISITION AND CORPORATE HEADQUARTERS AS REPORTED COMPENSATION EXPENSE READINESS EXPENSE INTEGRATION EXPENSE RELOCATION EXPENSE NON-GAAP Revenue: $ 84
Slide 17: Definitions of key metrics and non-GAAP financial measures
Definitions of key metrics and non-GAAP financial measures ACTIVE MEMBERS: We define Active Members as the ADJUSTED EBITDA: We define Adjusted EBITDA as net income number of Connect, Core, and Business membership (loss) adjusted for (i) interest income (expense), (ii) income tax accounts that genera
Wheels Up Experience — Raymond James 2022 Technology Investors Conference on 6ix