GlobalX Q1 revenue $32.2M (+96% YoY), adjusted EBITDAR $2.5M, reaffirms $140M+ 2023 revenue

Global Crossing Airlines Group Inc.

2023-Q1 EPS reported -$0.11 revenue$32,150,554

Q1 revenue $32.2M, up 96% YoY; adjusted EBITDAR $2.5M, adjusted EBITDA ($2.9M), adjusted EPS ($0.07).
Reaffirms 2023 revenue forecast over $140M; $104M already contracted; expects $65M in H1.
Q1 impacted by $1.4M training costs, $6M government contract deferral, $1.5M A321F delay; expects $2.25M compensation.
Ended Q1 with $14.7M current assets; in discussions for additional debt/equity capital.
Received FAA approval for A321F cargo ops; first freighter in service; second due late May.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Global Crossing Airlines Group Inc. reported FY2023 results: revenue $140 million. Guidance reaffirmed.

Period: FY2023
Revenue: $140 million
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

GlobalX is providing revenue guidance of over $140 million in revenue for 2023 based on a fleet of 9 passenger and 2 cargo aircraft, a 69% increase over 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Global Crossing Airlines Group Inc. reported Q1 2023 results: revenue $32.2 million, EPS $(0.07).

Period: Q1 2023
Revenue: $32.2 million
EPS: $(0.07)
Result: reported results

Exact text from the filing

Total operating revenue for Q1 2023 was $32.2 million. This represents an increase of $15.8 million or 96.3% when compared to Q1 2022. In addition, GlobalX operated 3,134 revenue block hours in Q1 2023 representing an 81% increase over the number of block hours operated in Q1 2022. Q1 2023 results on an Adjusted EBITDAR (1) basis were $2.5 million, an Adjusted EBITDA (1) basis of approximately ($2.9) million and Adjusted EPS (1) of $(0.07).

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Global Crossing Airlines Group Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-142070

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