Jet.AI reports Q3 revenue $3.4M, operating loss $4.3M; launches CharterGPT and DynoFlight

Jet.AI Inc.

2023-Q3 EPS reported -$1.77 revenue$8,035,505

Revenue $3.4M in Q3 2023 (down from $11.9M YoY due to no fractional aircraft sales; ex-fractional, up 270% to $3.4M from $910K).
Operating loss widened to $4.3M from $2.0M YoY, driven by lower gross profit and higher G&A from SPAC costs and stock compensation.
Cash and equivalents $903,909 as of Sept 30, 2023 (down from $1.53M at Dec 31, 2022).
Launched CharterGPT (AI charter booking app) and DynoFlight (carbon offset API) in Q3.
Advanced discussions with Bombardier for Challenger 3500 aircraft; Reroute platform release expected in December.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Jet.AI Inc. reported third quarter ended September 30, 2023 results: revenue $3.4 million.

Period: third quarter ended September 30, 2023
Revenue: $3.4 million
Result: reported results

Exact text from the filing

intelligence (“AI”) company, announced financial results for the third quarter ended September 30, 2023. Third Quarter 2023 and Recent Operational Highlights ● Revenues of $3.4 million in 3Q23 grew over 270% compared to the same period last year when excluding the benefit in 3Q22 from Fractional/Whole Aircraft Sales. Including Fractional/Whole Aircraft Sales,

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Jet.AI Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-042337

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