MESA AIR GROUP INC
For the period ended Sep 30, 2025. Filed Nov 21, 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.
Sep 30, 2025 · Filed Nov 21, 2025
RJET$21.42+0.8%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except per share amounts) (Unaudited)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Operating revenues: | ||||
| Contract revenue (2025 - $64,879 and $199,278 and 2024 - $92,409 and $297,794 from related party) | $65,968 | $93,806 | $204,331 | $303,222 |
| Pass-through and other revenue | 24,708 | 21,451 | 73,875 | 54,410 |
| Total operating revenues | 90,676 | 115,257 | 278,206 | 357,632 |
| Operating expenses: | ||||
| Flight operations | 35,656 | 37,870 | 108,404 | 132,654 |
| Maintenance | 42,250 | 47,560 | 127,206 | 136,098 |
| Aircraft rent | 396 | 3,501 | 1,818 | 6,593 |
| General and administrative | 10,912 | 11,391 | 33,981 | 32,239 |
| Depreciation and amortization | 2,262 | 7,195 | 11,594 | 26,748 |
| Asset impairment | 7,326 | 22,786 | 53,447 | 33,325 |
| Loss on sale of assets | — | — | 7,706 | — |
| Other operating expenses | 1,051 | 1,987 | 626 | 4,392 |
| Total operating expenses | 99,853 | 132,290 | 344,782 | 372,049 |
| Operating loss | (9,177) | (17,033) | (66,576) | (14,417) |
| Other income (expense), net: | ||||
| Interest expense | (2,829) | (7,624) | (11,419) | (27,296) |
| Interest income | 69 | 23 | 167 | 54 |
| Gain on investments | — | 1,578 | — | 8,032 |
| Unrealized loss on investments, net | — | (71) | (11) | (8,595) |
| Gain on debt forgiveness | — | — | — | 10,500 |
| Other income (expense), net | 352 | (1,397) | 24,377 | (1,788) |
| Total other income (expense), net | (2,408) | (7,491) | 13,114 | (19,093) |
| Loss before taxes | (11,585) | (24,524) | (53,462) | (33,510) |
| Income tax expense (benefit) | 2,539 | 393 | (1,564) | (345) |
| Net loss and comprehensive loss | $(14,124) | $(24,917) | $(51,898) | $(33,165) |
| Net loss per share attributable to | ||||
| common shareholders | ||||
| Basic | $(0.34) | $(0.60) | $(1.25) | $(0.80) |
| Diluted | $(0.34) | $(0.60) | $(1.25) | $(0.80) |
| Weighted-average common shares outstanding | ||||
| Basic | 41,873 | 41,322 | 41,551 | 41,203 |
| Diluted | 41,873 | 41,322 | 41,551 | 41,203 |
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