Global Crossing Airlines reports first-year revenue $14.3M, net loss $19.8M; expects 2022 revenue >$90M

Global Crossing Airlines Group Inc.

2022-Q1 EPS reported -$0.09 revenue$16,380,011

Full year revenue $14.3M from 5 months of operations; net loss $19.8M ($0.43/diluted), including $11.1M pre-revenue and $1.8M non-recurring.
Q4 2021 revenue $11.2M (260% sequential increase from Q3); operating loss $4.5M.
Obtained FAA Air Carrier Certificate and DOT authority; entered revenue service Aug 7, 2021; ended year with six A320s.
Signed agreements for 9 A321 freighter conversions; leased 2 additional A321Fs; total contracted backlog $161M.
2022 outlook: Q1 revenue to exceed total 2021 revenue; full year revenue expected >$90M; profitability targeted by Q3 2022.

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