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Starfighters Space (FJET) investor relations material
Starfighters Space Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Completed initial public offering and began trading on NYSE American in December 2025, raising $22.1M in gross proceeds and converting $13.8M of convertible debt to equity.
Net loss for 2025 was $16.5M, up from $7.9M in 2024, driven by increased expenses related to going public, R&D, and business development.
Company operates the only commercial fleet of F-104 supersonic aircraft, focusing on launch services, R&D, and pilot training.
Material weaknesses in internal controls identified; remediation plans underway.
Financial highlights
Revenue remains under $1M annually; primary income from pilot training and testing services.
Net loss of $16.5M in 2025, compared to $7.9M in 2024.
Operating expenses rose sharply due to stock-based compensation, consulting, R&D, and public company costs.
Cash and restricted cash at year-end 2025 was $4.6M, down from $7.1M in 2024.
Working capital improved to $17.1M at year-end 2025 from a deficit of $7.7M in 2024, mainly due to IPO proceeds.
Outlook and guidance
Plans to achieve first commercial launch by end of 2026, pending regulatory approvals and funding.
Focus on expanding launch services, hypersonic R&D, and pilot training.
Material uncertainties remain regarding ability to continue as a going concern without additional financing.
- Unique MACH 2 jet launches offer fast, flexible, and cost-effective access to space.FJET
Corporate presentation15 Apr 2026 - Delivers cost-effective MACH 2 air-launch solutions for small satellites from Kennedy Space Center.FJET
Corporate presentation1 Apr 2026 - Delivers rapid, flexible, and cost-effective air-launch solutions for small satellites.FJET
Corporate presentation16 Mar 2026 - Delivers fast, affordable small-satellite launches with MACH 2-capable F-104 jets.FJET
Corporate Presentation22 Dec 2025
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