FLYEXCLUSIVE INC
For the period ended Mar 31, 2024. Filed Aug 12, 2024.
View on SEC.govAbout 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, 2024 · Filed Aug 12, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
7. Revenue
- Revenue
Disaggregation of Revenue
The following table disaggregates revenue by service type and the timing of when these services are provided to the member or customer:
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Services transferred at a point in time: | ||
| Flights | $76,119 | $74,601 |
| Services transferred over time: | ||
| Memberships | 1,468 | 1,478 |
| MRO | 1,490 | 704 |
| Fractional ownership purchase price | 895 | 249 |
| $79,972 | $77,032 | |
Transaction Price
The transaction prices for each of the primary revenue streams are as follows:
Jet Club and Charter – Membership fees (less credits issued), and flight related charges based on trips flown
Guaranteed Revenue Program – Fleet minimums with additional charges for flight services over the guarantee
MRO – Time and materials incurred for services performed
Fractional Ownership – The portion of fractional interest purchase price allocated to revenue, and flight related charges based on trips flown
The following tables provide a rollforward of deferred revenue for the three months ended March 31, 2024:
| Amount | |
|---|---|
| Balance as of December 31, 2023 | 93,940 |
| Revenue recognized | (65,070) |
| Revenue deferred | 64,404 |
| Balance as of March 31, 2024 | $93,274 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.