GlobalX Q1 revenue $16.3M (+46% QoQ), net loss $4.8M; reaffirms $90M+ 2022 revenue guidance

Global Crossing Airlines Group Inc.

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

Revenue $16.3M on 1,729 block hours, up 46% and 33% respectively from Q4 2021.
Net loss of $4.8M; ended quarter with $11.9M in cash, equivalents, and restricted cash.
Signed contracts/LOIs for $70M in 2022, $76M in 2023, $52M in 2024; reiterates $90M+ revenue target for 2022.
Expects operating income near break-even in Q2 and positive in Q3 2022.
Leased two A321F freighters from Aerovista (deliveries Aug/Nov 2023); LOI for up to 200 eVTOL aircraft with EVE Mobility.

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