Jet.AI Reports Second Quarter 2025 Financial Results
Recent Operational Highlights
- Jet.AI made a capital contribution to AIIA Sponsor Ltd., the sponsor of AI Infrastructure Acquisition Corp., a SPAC targeting high-impact private tech companies focused on AI, machine learning, and next-generation data center infrastructure.
- The company signed a Letter of Intent and later executed a definitive agreement with Consensus Core Technologies Inc. to develop two hyperscale data-center campuses in Midwestern and Maritime Canada.
- The transaction with flyExclusive is progressing and remains on track to close by October 31, 2025.
Second Quarter 2025 Financial Results
Jet.AI reported revenues of $2.2 million, down from $3.1 million in the same quarter last year. This decline was mainly due to reduced Cirrus Charter and Jet Card revenue, influenced by anticipation of the sale of the Company’s aviation business to flyExclusive and decreased flying by management clients. However, Software App revenue showed an increase.
- Software App and Cirrus Charter revenue totaled $1.3 million, compared to $1.6 million last year.
- Management and Other Services revenue was $533,000 versus $914,000 in the prior year period.
- Jet Card and Fractional Programs revenue reached $421,000 compared to $559,000 last year.
- Cost of revenues decreased to $2.3 million from $3.5 million, driven by lower Cirrus charter activity and reduced merchant fees and excise taxes.
- Gross loss improved to approximately $110,000 from $417,000, reflecting scaled-back operations.
- Operating expenses fell to $2.4 million from $2.8 million, mainly due to lower general and administrative and sales and marketing costs.
- Operating loss narrowed to about $2.5 million from $3.2 million in the previous year.
- Cash and cash equivalents stood at approximately $8.3 million as of June 30, 2025.
Six Months 2025 Financial Results
For the first half of 2025, revenues were $5.7 million, down from $6.9 million a year earlier. The decrease was primarily due to declines in Software App, Cirrus Charter, and Jet Card revenues but partially offset by growth in Management and Other Services.
- Software App and Cirrus Charter revenue was $3.1 million compared to $4.0 million last year.
- Management and Other Services revenue increased slightly to $1.8 million from $1.7 million.
- Jet Card and Fractional Programs revenue declined to $765,000 from $1.2 million.
- Cost of revenues dropped to $5.9 million from $7.5 million, driven by lower payments for aircraft management, reduced third-party charter costs, and decreased excise taxes and merchant fees.
- Gross loss improved to approximately $226,000 from $541,000, helped by lower maintenance costs and pilot wages.
- Operating expenses decreased to $5.4 million from $5.8 million, reflecting lower administrative and marketing expenses.
- Operating loss narrowed to $5.7 million from $6.4 million in the prior year period.
Management Commentary
Founder and Executive Chairman Mike Winston highlighted progress on the Canadian data center projects with Consensus Core. The definitive agreement covers phased development of the Midwestern and Maritime sites, with five strategic milestones planned for sequential announcement. Two milestones related to power and site progress are expected soon.
He also noted the capital contribution to AIIA Sponsor, which will provide Jet.AI with an equity interest in AI Infrastructure Acquisition Corp., strengthening its position in AI data center infrastructure. The flyExclusive transaction remains on schedule for completion by October 31, 2025.
About Jet.AI
Founded in 2018 and based in Las Vegas, Jet.AI is transitioning from its original dual focus on Software and Aviation to become a pure-play AI data center company. The leadership team brings expertise in data center development and AI technologies, aiming to build scalable infrastructure for AI workloads.
The company’s AI-powered tools originate from its aviation roots, leveraging natural language processing to enhance operational efficiency and simplify private jet bookings.
Forward-Looking Statements
This release includes forward-looking statements based on current expectations and assumptions regarding Jet.AI’s business and markets. Such statements involve risks and uncertainties that could cause actual results to differ materially. Readers should consider these factors and not rely solely on these projections.
For more information on the risks involved, see Jet.AI's latest filings with the Securities and Exchange Commission.
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