Starfighters Space (FJET) Q2 2026 earnings summary

Executive summary

• Operates the only commercial fleet of flight-ready F-104 supersonic aircraft, focusing on launch services and airborne testbed solutions for commercial, academic, civil, and government clients.

• Completed a $17.5 million private placement in May 2026 to fund operational expansion and STARLAUNCH platform development.

• Achieved a key technical milestone with successful wind tunnel testing for STARLAUNCH 1, advancing air-launched rocket development.

Financial highlights

• Net loss for six months ended June 30, 2026 was $15.7 million, compared to $4.6 million for the same period in 2025.

• Selling, general and administrative expenses rose to $10.4 million from $3.6 million year-over-year, driven by $4.5 million in stock-based compensation and increased marketing, legal, and personnel costs.

• Impairment of $5.15 million recognized on aircraft deposits due to non-performance by Aerovision.

• Cash and restricted cash at June 30, 2026 totaled $2.4 million, down from $4.6 million at year-end 2025.

• Working capital at June 30, 2026 was $25.7 million, up from $17.1 million at December 31, 2025.

Outlook and guidance

• Material uncertainties exist regarding the ability to continue as a going concern, dependent on raising additional funds and achieving profitability.

• Plans to use private placement proceeds for operational expansion and STARLAUNCH platform advancement.