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SOAR AI, Inc.

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

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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 31, 2025

SOAR$0.21+4.6%Stored close · as of Nov 9, 2026

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

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Contents

Table of Contents

FORM 10-K

FOR THE YEAR ENDED DECEMBER 31, 2024

INDEX

Page
PART I
Item 1.Business4
Available Information10
Item 1A.Risk Factors12
Item 1B.Unresolved Staff Comments29
Item 1CCybersecurity29
Item 2.Properties29
Item 3.Legal Proceedings30
Item 4.Mine Safety Disclosures30
PART II
Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities31
Item 6.[Reserved]32
Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations33
Item 7A.Quantitative and Qualitative Disclosures about Market Risk43
Item 8.Financial Statements and Supplementary Data44
Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure79
Item 9A.Controls and Procedures79
Report of Management on Internal Control over Financial Reporting79
Report of Independent Registered Public Accounting Firm55
Item 9B.Other Information81
Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections81
PART III
Item 10.Directors, Executive Officers, and Corporate Governance81
Item 11.Executive Compensation81
Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters81
Item 13.Certain Relationships and Related Transactions, and Director Independence81
Item 14.Principal Accountant Fees and Services81
PART IV
Item 15.Exhibit and Financial Statement Schedules82
Signatures85

Note About Forward-Looking Statements

This report includes estimates, projections, statements relating to our business plans, objectives, and expected operating results that are “forward- looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Forward- looking statements may appear throughout this report, including the following sections: “Business” (Part I, Item 1 of this Form 10- K), “Risk Factors” (Part I, Item 1A of this Form 10-K), and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” (Part II, Item 7 of this Form 10- K). These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions or the negative of such terms. However, the absence of these words does not mean that a statement is not forward-looking. Forward -looking statements are based on current expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ materially. We describe certain risks and uncertainties that could cause actual results and events to differ materially in the sections entitled “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and “Quantitative and Qualitative Disclosures about Market Risk” (Part II, Item 7A of this Form 10 -K). Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. We undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise.

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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.