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Midas Edge

FLYEXCLUSIVE INC.

For the period ended Dec 31, 2024. Filed Mar 24, 2025.

View on SEC.gov

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 24, 2025

FLYX$1.16-0.9%Stored close · as of Nov 9, 2026

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

See the whole filing, with its images and exhibits
Contents

Consolidated Balance Sheets

(in thousands, except share amounts)December 31,2024December 31,2023
ASSETS
Current assets
Cash and cash equivalents$31,694$11,626
Accounts receivable, net2,024849
Other receivables7,1404,460
Due from related parties, current portion2,6451,911
Notes receivable, current portion—301
Parts and supplies inventory5,6585,142
Investments in securities65,54171,230
Prepaid engine overhauls, current portion13,71014,522
Aircraft held for sale, current portion7,786—
Prepaid expenses and other current assets7,7716,752
Total current assets143,969116,793
Notes receivable, non-current portion, net3,70021,177
Property and equipment, net259,874253,976
Aircraft held for sale, non-current portion4,085—
Operating lease right-of-use assets68,97084,649
Finance lease right-of-use assets15,680—
Intangible assets, net1,6002,234
Prepaid engine overhauls, non-current portion39,40841,531
Other non-current assets1,004670
Total assets$538,290$521,030

Consolidated Balance Sheets (continued)

(in thousands, except share amounts)December 31,2024December 31,2023
LIABILITIES AND STOCKHOLDERS’ (DEFICIT) / MEMBERS' EQUITY AND TEMPORARY EQUITY
Current liabilities
Accounts payable$20,295$30,172
Excise tax payable1,1881,032
Long-term notes payable, current portion84,88326,471
Deferred revenue, current portion128,90583,914
Operating lease liabilities, current portion15,61717,907
Finance lease liabilities, current portion1,282—
Other current liabilities29,94428,705
Short-term notes payable5,96214,396
Short-term notes payable - related party6,67718,939
Total current liabilities294,753221,536
Long-term notes payable, non-current portion104,027166,818
Long-term notes payable - related party, non-current portion36,895—
Operating lease liabilities, non-current portion54,61168,100
Finance lease liabilities, non-current portion5,708—
Deferred revenue, non-current portion20,61210,026
Warrant liabilities3,0142,508
Other non-current liabilities30,34216,712
Total liabilities$549,962$485,700
Temporary equity
Redeemable noncontrolling interest159,514(35,525)
Series A preferred stock, par value $0.0001; 25,000 shares authorized and 25,000 shares issued and outstanding23,799—
Series B preferred stock, par value $0.0001; 25,510 shares authorized and 25,510 shares issued and outstanding15,073—
Stockholders' (deficit) / equity
Accumulated other comprehensive loss(56)(69)
Class A common stock; par value $0.0001; 200,000,000 and 200,000,000 shares authorized; 18,199,586 and 16,647,529 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 capital9,618126,978
Accumulated deficit(244,177)(80,456)
Total flyExclusive stockholders’ (deficit) / equity(234,607)46,461
Noncontrolling interests24,54924,394
Total stockholders’ (deficit) / equity(210,058)70,855
Total liabilities, temporary equity and stockholders' / members equity$538,290$521,030
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.