flyExclusive (FLYX) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 20.5% to $111.063M; gross profit increased to $24.6M and Adjusted EBITDA was positive at $5.1M.

• Nine-month revenue grew 17.3% to $318.537M; Adjusted EBITDA was $8.570M versus a $13.545M loss, and operating cash flow was $6.129M versus $10.310M used.

Financial highlights

• Q3 operating loss narrowed to $7.852M from $11.299M; net loss narrowed to $12.997M from $21.078M.

• Q3 cost of revenue rose 8.7% to $86.448M, below revenue growth; SG&A increased 14.5% to $22.345M and depreciation and amortization fell 15.9% to $5.468M.

• Nine-month net loss narrowed to $37.833M from $60.198M, and operating loss narrowed to $23.229M from $38.395M.

• Nine-month Adjusted EBITDAR rose to $20.910M from $1.479M; aircraft lease costs were $12.340M versus $15.024M.

Segment performance

• Q3 jet club and charter revenue rose 17.8% to $94.630M; flight hours increased 7.1% and effective hourly rates rose 10.0% YoY.

• Q3 fractional revenue increased 44.0% to $11.932M, primarily on higher fractional membership; MRO revenue grew 38.3% to $4.270M on increased external services.

• Nine-month jet club and charter revenue grew 15.4% to $273.239M; fractional revenue rose 33.5% to $33.829M and MRO revenue grew 37.9% to $10.644M.

• Nine-month aircraft management revenue declined 52.8% to $0.825M, reflecting fewer owners served under the Volato Agreement.

• One reportable segment, private aviation services, includes charter, aircraft partnerships, Jet Club memberships, fractional ownership, MRO and aircraft management.