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Midas Edge

FLYEXCLUSIVE INC.

For the period ended Mar 31, 2025. Filed May 13, 2025.

View on SEC.gov

About this filing

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

FLYX$1.11-4.3%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Condensed Consolidated Balance Sheets (Unaudited)

(in thousands, except share amounts)March 31, 2025December 31, 2024
ASSETS
Current assets
Cash and cash equivalents$14,749$31,694
Accounts receivable, net2,5292,024
Other receivables7,4067,140
Due from related parties, current portion2,1542,645
Parts and supplies inventory, net6,0075,658
Investments in securities8,02165,541
Prepaid engine overhauls, current portion9,32613,710
Aircraft held for sale, current portion9,7707,786
Prepaid expenses and other current assets6,8427,771
Total current assets66,804143,969
Notes receivable, non-current portion, net3,7003,700
Property and equipment, net243,966259,874
Aircraft held for sale, non-current portion2,5094,085
Operating lease right-of-use assets72,48268,970
Finance lease right-of-use assets29,76715,680
Intangible assets, net1,4711,600
Prepaid engine overhauls, non-current portion44,97239,408
Other non-current assets1,0851,004
Total assets$466,756$538,290
LIABILITIES, STOCKHOLDERS’ (DEFICIT) / MEMBERS' EQUITY, AND TEMPORARY EQUITY
Current liabilities
Accounts payable$23,591$20,295
Excise tax payable1,1881,188
Long-term notes payable, current portion22,67284,883
Deferred revenue, current portion126,555128,905
Operating lease liabilities, current portion16,93615,617
Finance lease liabilities, current portion5,1641,282
Other current liabilities27,26929,944
Short-term notes payable5,2685,962
Long-term notes payable - related party, current portion23,5526,677
Total current liabilities252,195294,753
Long-term notes payable, non-current portion98,974104,027
Long-term notes payable - related party, non-current portion15,48436,895
Operating lease liabilities, non-current portion57,00954,611
Finance lease liabilities, non-current portion15,8075,708
Deferred revenue, non-current portion20,55920,612
Warrant liabilities2,4453,014
Other non-current liabilities33,26030,342
Total liabilities$495,733$549,962
Temporary equity
Redeemable noncontrolling interest192,024159,514
Series A preferred stock, par value $0.0001; 25,000 shares authorized and 25,000 shares issued and outstanding24,80623,799
Series B preferred stock, par value $0.0001; 29,737 shares authorized and 29,737 shares issued and outstanding20,21815,073
Stockholders' (deficit) / equity
Accumulated other comprehensive loss(2)(56)
Class A common stock; par value $0.0001; 200,000,000 and 200,000,000 shares authorized; 20,199,586 and 18,199,586 shares issued and outstanding, respectively22
Class B common stock; par value $0.0001; 100,000,000 and 100,000,000 shares authorized; 59,930,000 and 59,930,000 shares issued and outstanding, respectively66
Additional paid-in capital19,5529,618
Accumulated deficit(301,020)(244,177)
Total flyExclusive stockholders’ (deficit) / equity(281,462)(234,607)
Noncontrolling interests15,43724,549
Total stockholders’ (deficit) / equity(266,025)(210,058)
Total liabilities, temporary equity and stockholders' / members' equity$466,756$538,290
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.