flyExclusive (FLYX) financial statements
flyExclusive reported revenue of $376M in fiscal 2025, up 5.5% a year over 3 years.
Net income was -$18M and the operating margin -12.6%, against -3.8% in 2022.
Free cash flow was -$24M.
The diluted share count rose 14% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from flyExclusive's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $320M | $315M | $327M | $376M |
| Cost of revenue | $255M | $264M | $290M | $320M |
| Gross profit | $65M | $51M | $37M | $56M |
| Selling, general and admin | $54M | $75M | $91M | $83M |
| Operating income | -$12M | -$37M | -$83M | -$47M |
| Interest expense | $8M | $22M | $21M | $21M |
| Pre-tax income | -$4M | -$55M | -$101M | -$67M |
| Income tax | $0 | $0 | $41,000 | $37,000 |
| Net income | $6M | -$47M | -$21M | -$18M |
| EPS (diluted) | — | — | -$1.07 | -$1.01 |
| Diluted shares | — | — | 24M | 27M |
| Gross margin | 20.2% | 16.2% | 11.3% | 15.0% |
| Operating margin | -3.8% | -11.8% | -25.3% | -12.6% |
| Net margin | 1.9% | -14.9% | -6.4% | -4.7% |
Balance sheet
Fiscal years, from flyExclusive's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Cash and short-term investments | $23M | $12M | $32M | $29M |
| Inventory | $6M | $5M | $6M | $5M |
| Total current assets | $132M | $117M | $144M | $74M |
| Property, plant and equipment | $253M | $254M | $260M | $224M |
| Total assets | $494M | $521M | $538M | $440M |
| Total current liabilities | $139M | $222M | $295M | $270M |
| Long-term debt | $222M | $167M | — | — |
| Total liabilities | $447M | $486M | $550M | $524M |
| Shareholders' equity | -$13M | $46M | -$233M | -$327M |
| Net debt | $223M | $182M | $53M | -$29M |
Cash flow
Fiscal years, from flyExclusive's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating cash flow | $46M | $9M | -$11M | $7M |
| Capital spending | $146M | $84M | $57M | $31M |
| Free cash flow | -$100M | -$75M | -$68M | -$24M |
| Stock-based compensation | $0 | $882,000 | $753,000 | $4M |
| Net borrowing | $36M | $75M | $14M | -$111M |
| Free cash flow margin | -31.3% | -23.8% | -20.7% | -6.5% |
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Open FLYX in InvestinglyQuestions
What was flyExclusive's revenue in 2025?
$376M in fiscal 2025, from its 10-K filing.
How much free cash flow does flyExclusive generate?
-$24M in fiscal 2025 (operating cash flow minus capital spending).
From flyExclusive's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.