Global Crossing Airlines Q2 revenue $31.5M, up 80.5% YoY; raises 2023 guidance to $150M

Global Crossing Airlines Group Inc.

2023-Q2 EPS reported -$0.24 revenue$63,625,630

Revenue $31.5M (up 80.5% YoY); adjusted EBITDAR $5.3M; adjusted EBITDA ($1.5M); adjusted EPS ($0.05).
Net loss $7.5M or ($0.13)/share; block hours 3,585 (+70% YoY); July flew 2,538 block hours.
2023 revenue forecast raised to $150M (+54% vs 2022); 75% contracted; 13,629 block hours contracted YTD.
Secured $35M loan from Axar Capital (6-yr term, 15% interest, 10M warrants at $1); no near-term equity need.
Q2 impacted by $4.2M accelerated pilot training, $2.4M freighter delivery delays, and MRO downtime on 26% of fleet.

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 2023 results: revenue $150 million. Guidance raised.

Period: 2023
Revenue: $150 million
Guidance: raised
Result: guidance update

Exact text from the filing

The Company expects to operate over 6,000 block hours in Q3 and is increasing its revenue guidance for 2023 to $150 million, a 54% increase over 2022.

View on SEC.gov

Browse all earnings releases →

Global Crossing Airlines Group Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-209696

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.