Volato Q1 revenue $13.2M, net loss $17.4M; announces $14.5M financing

Volato Group, Inc.

2024-Q1 EPS reported -$0.60 revenue$13,211,000

Revenue $13.2M ($11.5M aircraft usage, $1.7M managed services); net loss $17.4M with $0.2M non-cash charge.
Adjusted EBITDA loss of $13.1M (non-GAAP).
Flight hours up 39% YoY; blended yield up 8% YoY.
Announces $14.5M new financing; expects delivery of 10-12 aircraft in FY 2024.

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 0.9

Volato Group, Inc. reported first quarter ended March 31, 2024 results: revenue $13.2 million, net income $17.4 million.

Period: first quarter ended March 31, 2024
Revenue: $13.2 million
Net income: $17.4 million
Result: reported results

Exact text from the filing

Volato Reports First Quarter 2024 Results Announces $14.5 Million in New Financing Grew Flight Hours 39% and Blended Yield 8% Year-over-Year Expect Delivery of 10-12 New Aircraft in FY 2024 Atlanta, GA – May 15, 2024 – Volato Group, Inc. (NYSE American: SOAR) (“Volato” or the “Company”), a leading private aviation company and the largest HondaJet operator in the United States, today announced results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights • Total revenue was $13.2 million o Aircraft usage revenue was $11.5 million o Managed services revenue was $1.7 million • Net loss was $17.4 million, including the impact of a $0.2 million non-cash charge

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Source: SEC EDGAR

accession 0001628280-24-023378

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