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FLYEXCLUSIVE INC

For the period ended Sep 30, 2024. Filed Nov 14, 2024.

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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.

Sep 30, 2024 · Filed Nov 14, 2024

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

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

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Condensed Consolidated Statements of Cash Flows (Unaudited)

Nine Months EndedSeptember 30,
(in thousands)20242023
Cash flows from operating activities:
Net loss$(84,980)$(30,451)
Adjustments to reconcile net loss to net cash from operating activities:
Depreciation and amortization19,28320,176
Amortization of contract costs821558
Non-cash interest income(2,093)(2,282)
Non-cash interest expense1,1267,373
Non-cash rent expense15,81812,547
Gain on lease termination(163)(38)
Loss (Gain) on aircraft held for sale4,897(12,435)
Change in fair value of derivative liability—3,577
Provision for credit losses2,076(1)
Realized losses on investment securities59238
Change in fair value of private placement warrant liability433—
Change in fair value of penny warrant liability(2,214)—
Change in fair value of public warrant liability3,960—
Changes in operating assets and liabilities, net of effects from acquisitions:
Accounts receivable(752)13,369
Accounts receivable - related parties191,431
Other receivables(1,797)850
Parts and supplies inventory, net(836)(764)
Prepaid expenses and other current assets261809
Operating lease liabilities(15,989)(11,063)
Other assets(76)(73)
Accounts payable(4,062)919
Other current liabilities(2,932)5,838
Accounts payable - related parties—(72)
Deferred revenue6,27623,715
Customer deposits—(37,500)
Other non-current liabilities6,4316,896
Net cash flows from operating activities(54,434)3,617
Cash flows from investing activities:
Capitalized development costs(412)(585)
Purchases of property and equipment(14,656)(66,962)
Proceeds from sales of property and equipment28,53338,073
Purchases of engine overhauls(18,364)(14,548)
Purchases of investments(45,495)(68,837)
Proceeds from sale of investments57,44968,746
Notes receivable paydowns15,040—
Net cash flows from investing activities22,095(44,113)

Condensed Consolidated Statements of Cash Flows (Unaudited) (continued)

Nine Months EndedSeptember 30,
(in thousands)20242023
Cash flows from financing activities:
Proceeds from issuance of debt71,41397,769
Repayment of debt(50,282)(32,528)
Payment of deferred financing costs—(1,455)
Payment of debt issuance costs(4,018)(195)
Proceeds from notes receivable noncontrolling interest—208
Cash contributions from members—394
Cash distributions to members—(31,292)
Cash contributions - noncontrolling interests6,3279,208
Cash distributions - noncontrolling interests(13,920)(14,527)
Proceeds from preferred temporary equity issuance, net of issuance costs29,847—
Net cash flows from financing activities39,36727,582
Net increase (decrease) in cash and cash equivalents7,028(12,914)
Cash and cash equivalents at beginning of period11,62623,179
Cash and cash equivalents at end of period$18,654$10,265
Supplemental disclosure of cash flow information:
Non-cash investing and financing activities:
Exchange of public warrants for flyExclusive Class A common stock$371$—
Change in redemption value of redeemable noncontrolling interest$231,273$—
Excise tax payable$156$—
flyExclusive Class A common stock issued on cashless exercise of public warrants$4,337$—
Issuance of penny warrants in connection with Series A Preferred Temporary Equity$3,746$—
Issuance of penny warrants in connection with Series B Preferred Temporary Equity$11,712$—
Dividends payable on Class A Temporary Equity$2,257$—
Dividends payable on Class B Temporary Equity$451$—
Transfers from prepaid engine overhaul to property and equipment$9,833$10,229
Change in purchases of property and equipment in accounts payable$—$930
Unrealized change in fair value of available-for-sale securities$(178)$335
Right of use asset impact for new leases$7,327$34,269
Acquisitions of non-controlling interests$6,892$—
Non-cash exchanges of aircraft ownership interests$—$7,319
Non-cash aircraft sale-leaseback transactions$—$23,100
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.