Global Crossing Airlines Group Inc Financials
This page shows Global Crossing Airlines Group Inc (JETMF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Global Crossing Airlines Group Inc has an operating margin of -0.5%, meaning the company retains $-1 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -9.9% the prior year.
Global Crossing Airlines Group Inc's revenue surged 39.7% year-over-year to $223.8M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Global Crossing Airlines Group Inc's current ratio of 0.35 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 0/100, which could limit financial flexibility.
While Global Crossing Airlines Group Inc generated $8.1M in operating cash flow, capex of $7.2M consumed most of it, leaving $853K in free cash flow. This results in a low score of 2/100, reflecting heavy capital investment rather than weak cash generation.
Global Crossing Airlines Group Inc passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Global Crossing Airlines Group Inc generates $-0.70 in operating cash flow ($8.1M OCF vs -$11.5M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Global Crossing Airlines Group Inc earns $-0.1 in operating income for every $1 of interest expense (-$1.1M vs $9.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Global Crossing Airlines Group Inc generated $223.8M in revenue in fiscal year 2024. This represents an increase of 39.7% from the prior year.
Global Crossing Airlines Group Inc's EBITDA was $5.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 137.9% from the prior year.
Global Crossing Airlines Group Inc generated $853K in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 115.7% from the prior year.
Global Crossing Airlines Group Inc reported -$11.5M in net income in fiscal year 2024. This represents an increase of 45.4% from the prior year.
Global Crossing Airlines Group Inc earned $-0.19 per diluted share (EPS) in fiscal year 2024. This represents an increase of 48.6% from the prior year.
Global Crossing Airlines Group Inc held $12.3M in cash against $0 in long-term debt as of fiscal year 2024.
Global Crossing Airlines Group Inc had 62M shares outstanding in fiscal year 2024. This represents an increase of 4.8% from the prior year.
Global Crossing Airlines Group Inc's operating margin was -0.5% in fiscal year 2024, reflecting core business profitability. This is up 9.4 percentage points from the prior year.
Global Crossing Airlines Group Inc's net profit margin was -5.1% in fiscal year 2024, showing the share of revenue converted to profit. This is up 8.0 percentage points from the prior year.
Global Crossing Airlines Group Inc invested $7.2M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 78.6% from the prior year.
JETMF Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $58.0M-5.5% | $61.4M-7.8% | $66.6M+11.1% | $59.9M+4.1% | $57.5M+6.9% | $53.8M-0.2% | $53.9M+26.6% | $42.6M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | $1.0M-68.4% | $3.3M+5.4% | $3.1M-9.9% | $3.5M+35.7% | $2.5M+155.1% | -$4.6M-274.9% | -$1.2M+47.1% | -$2.3M |
| Interest Expense | $3.0M+12.4% | $2.7M+3.0% | $2.6M+1.2% | $2.6M+13.0% | $2.3M+28.3% | $1.8M+57.9% | $1.1M-56.6% | $2.6M |
| Income Tax | $0 | $0 | N/A | $0 | $0 | N/A | N/A | N/A |
| Net Income | -$2.0M-422.2% | $608K+294.8% | $154K+131.4% | -$490K-272.5% | $284K+104.5% | -$6.4M-146.9% | -$2.6M+47.1% | -$4.9M |
| EPS (Diluted) | $-0.03-400.0% | $0.01 | $0.00 | $0.00 | $0.00+100.0% | $-0.11-120.0% | $-0.05+37.5% | $-0.08 |
JETMF Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $170.7M+3.2% | $165.5M+0.1% | $165.3M-0.8% | $166.7M+8.7% | $153.4M+2.0% | $150.5M+14.6% | $131.3M+21.9% | $107.7M |
| Current Assets | $16.5M-32.8% | $24.6M+12.7% | $21.8M-6.6% | $23.4M+20.7% | $19.4M-7.8% | $21.0M-31.4% | $30.6M+6.9% | $28.6M |
| Cash & Equivalents | $7.1M-47.5% | $13.4M+84.5% | $7.3M-41.0% | $12.3M+53.4% | $8.0M-3.0% | $8.3M-28.4% | $11.6M-11.1% | $13.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $4.9M-25.7% | $6.6M-26.2% | $8.9M+33.2% | $6.7M+3.0% | $6.5M+16.3% | $5.6M-45.3% | $10.2M+36.7% | $7.4M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $199.0M+3.4% | $192.4M-0.7% | $193.7M-1.3% | $196.2M+10.0% | $178.4M+1.2% | $176.4M+16.6% | $151.2M+19.7% | $126.3M |
| Current Liabilities | $70.6M0.0% | $70.6M+5.7% | $66.8M+1.3% | $65.9M+29.0% | $51.1M-2.2% | $52.2M-1.6% | $53.0M+24.4% | $42.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$28.4M-4.2% | -$27.2M+5.6% | -$28.9M+2.4% | -$29.6M-17.6% | -$25.1M+3.8% | -$26.1M-30.0% | -$20.1M-8.1% | -$18.6M |
| Retained Earnings | -$71.8M-2.8% | -$69.8M+0.9% | -$70.4M+0.2% | -$70.6M-8.2% | -$65.2M+0.4% | -$65.5M-10.8% | -$59.1M-4.6% | -$56.5M |
JETMF Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $597K-93.2% | $8.8M+8236.8% | $106K-99.0% | $10.3M+1055.3% | $894K+141.9% | -$2.1M-139.7% | $5.4M+151.9% | -$10.4M |
| Capital Expenditures | $4.6M+71.4% | $2.7M-1.4% | $2.7M+23.1% | $2.2M+17.7% | $1.9M+9.8% | $1.7M-12.4% | $2.0M+321.0% | -$887K |
| Free Cash Flow | -$4.0M-165.4% | $6.1M+334.0% | -$2.6M-132.4% | $8.1M+917.3% | -$992K+74.2% | -$3.9M-212.7% | $3.4M+130.4% | -$11.3M |
| Investing Cash Flow | -$5.0M-33.4% | -$3.7M-30.1% | -$2.9M+23.1% | -$3.7M-89.4% | -$2.0M+39.2% | -$3.2M+40.0% | -$5.4M-44.5% | -$3.7M |
| Financing Cash Flow | -$2.5M-99.7% | -$1.2M-17.6% | -$1.1M-182.8% | -$372K+31.0% | -$539K-133.3% | -$231K-156.9% | $406K-98.2% | $23.0M |
| Dividends Paid | $200K | N/A | N/A | $0 | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
JETMF Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 1.8%-3.6pp | 5.3%+0.7pp | 4.7%-1.1pp | 5.8%+1.3pp | 4.4%+13.0pp | -8.6%-6.3pp | -2.3%+3.2pp | -5.5% |
| Net Margin | -3.4%-4.4pp | 1.0%+0.8pp | 0.2%+1.1pp | -0.8%-1.3pp | 0.5%+12.3pp | -11.8%-7.1pp | -4.8%+6.7pp | -11.5% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -1.1%-1.5pp | 0.4%+0.3pp | 0.1%+0.4pp | -0.3%-0.5pp | 0.2%+4.4pp | -4.2%-2.3pp | -2.0%+2.6pp | -4.5% |
| Current Ratio | 0.23-0.1 | 0.35+0.0 | 0.33-0.0 | 0.35-0.0 | 0.38-0.0 | 0.40-0.2 | 0.58-0.1 | 0.67 |
| Debt-to-Equity | -7.01+0.0 | -7.06-0.4 | -6.71-0.1 | -6.64+0.5 | -7.10-0.4 | -6.75+0.8 | -7.53-0.7 | -6.80 |
| FCF Margin | -6.9%-16.9pp | 10.0%+13.9pp | -3.9%-17.5pp | 13.5%+15.3pp | -1.7%+5.4pp | -7.1%-13.5pp | 6.3%+32.8pp | -26.4% |
Note: Shareholder equity is negative (-$29.6M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.35), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Global Crossing Airlines Group Inc's annual revenue?
Global Crossing Airlines Group Inc (JETMF) reported $223.8M in total revenue for fiscal year 2024. This represents a 39.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Global Crossing Airlines Group Inc's revenue growing?
Global Crossing Airlines Group Inc (JETMF) revenue grew by 39.7% year-over-year, from $160.1M to $223.8M in fiscal year 2024.
Is Global Crossing Airlines Group Inc profitable?
No, Global Crossing Airlines Group Inc (JETMF) reported a net income of -$11.5M in fiscal year 2024, with a net profit margin of -5.1%.
What is Global Crossing Airlines Group Inc's earnings per share (EPS)?
Global Crossing Airlines Group Inc (JETMF) reported diluted earnings per share of $-0.19 for fiscal year 2024. This represents a 48.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Global Crossing Airlines Group Inc's EBITDA?
Global Crossing Airlines Group Inc (JETMF) had EBITDA of $5.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Global Crossing Airlines Group Inc's operating margin?
Global Crossing Airlines Group Inc (JETMF) had an operating margin of -0.5% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Global Crossing Airlines Group Inc's net profit margin?
Global Crossing Airlines Group Inc (JETMF) had a net profit margin of -5.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Global Crossing Airlines Group Inc's free cash flow?
Global Crossing Airlines Group Inc (JETMF) generated $853K in free cash flow during fiscal year 2024. This represents a 115.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Global Crossing Airlines Group Inc's operating cash flow?
Global Crossing Airlines Group Inc (JETMF) generated $8.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Global Crossing Airlines Group Inc's total assets?
Global Crossing Airlines Group Inc (JETMF) had $166.7M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Global Crossing Airlines Group Inc's capital expenditures?
Global Crossing Airlines Group Inc (JETMF) invested $7.2M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How many shares does Global Crossing Airlines Group Inc have outstanding?
Global Crossing Airlines Group Inc (JETMF) had 62M shares outstanding as of fiscal year 2024.
What is Global Crossing Airlines Group Inc's current ratio?
Global Crossing Airlines Group Inc (JETMF) had a current ratio of 0.35 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Global Crossing Airlines Group Inc's debt-to-equity ratio?
Global Crossing Airlines Group Inc (JETMF) had a debt-to-equity ratio of -6.64 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Global Crossing Airlines Group Inc's return on assets (ROA)?
Global Crossing Airlines Group Inc (JETMF) had a return on assets of -6.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
Why is Global Crossing Airlines Group Inc's debt-to-equity ratio negative or unusual?
Global Crossing Airlines Group Inc (JETMF) has negative shareholder equity of -$29.6M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Global Crossing Airlines Group Inc's Piotroski F-Score?
Global Crossing Airlines Group Inc (JETMF) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Global Crossing Airlines Group Inc's earnings high quality?
Global Crossing Airlines Group Inc (JETMF) has an earnings quality ratio of -0.70x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Global Crossing Airlines Group Inc cover its interest payments?
Global Crossing Airlines Group Inc (JETMF) has an interest coverage ratio of -0.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Global Crossing Airlines Group Inc?
Global Crossing Airlines Group Inc (JETMF) scores 25 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.