FLYEXCLUSIVE INC.
For the period ended Mar 31, 2025. Filed May 13, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 13, 2025
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3. Earnings (Loss) Per Share
Earnings (Loss) Per Share
The Company computes basic earnings (loss) per share using net loss attributable to Company common stockholders and the weighted average number of common shares outstanding during each period. As the Company has obligations under the Penny Warrants to issue shares for little or no cash consideration contingent only upon the passage of time (see Note 18 "Warrant Liabilities" for a description of the Penny Warrants), weighted average shares issuable under the Penny Warrants are included in the denominator in the calculation of basic and diluted EPS.
The following table sets forth the computation of the Company’s basic and diluted net (loss) income per share:
| Three Months Ended March 31, | Three Months Ended March 31, | |
|---|---|---|
| 2025 | 2024 | |
| Numerator: | ||
| Net loss | $(23,047) | $(32,990) |
| Less: Net loss attributable to redeemable noncontrolling interests | (17,558) | (21,699) |
| Less: Net loss attributable to noncontrolling interests | (40) | (5,450) |
| Add: Series A Preferred Dividends | (1,007) | (285) |
| Add: Series B Preferred Dividends | (992) | — |
| Basic Net loss attributable to common stockholders | $(7,448) | $(6,126) |
| Denominator: | ||
| Weighted Average Class A Common Stock outstanding | 18,732,919 | 16,920,382 |
| Weighted Average Class A Common Stock issuable under Series A Penny Warrants | 1,282,742 | 385,338 |
| Weighted Average Class A Common Stock issuable under Series B Penny Warrants | 5,140,900 | — |
| Weighted Average Shares Outstanding - basic and diluted | 25,156,561 | 17,305,720 |
| Basic and Diluted Earnings (Loss) Per Share | ||
| Basic | $(0.30) | $(0.35) |
| Diluted | $(0.30) | $(0.35) |
The following table summarizes potentially dilutive outstanding securities for thethree months ended March 31, 2025 which were excluded from the calculation of diluted EPS, because their effect would have been anti-dilutive:
| Public warrants | 2,519,869 |
|---|---|
| Private Placement Warrants | 4,333,333 |
| Penny Warrants | 1,304,742 |
| Total anti-dilutive features | 8,157,944 |
Segment Informa
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