Jet.AI Inc. Financials
This page shows Jet.AI Inc. (JTAI) 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).
Jet.AI’s reported profit in FY2025 masked a cash-burning operating model that still fails to cover direct service costs.
Reported net income turned positive at$4.6M even though operating income remained deeply negative. With operating cash flow still near-$8.2M and little changed from FY2024, the apparent turnaround did not come from the underlying business engine.
The business still shows negative unit economics: gross profit stayed below zero, and SG&A of
The capital structure looks much cleaner than two years earlier, with total liabilities reduced to
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Jet.AI Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Jet.AI Inc. scores -2.32, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($8.1M) relative to total liabilities ($3.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Jet.AI Inc. passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Jet.AI Inc. generates $-1.79 in operating cash flow (-$8.2M OCF vs $4.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Jet.AI Inc. generated $9.2M in revenue in fiscal year 2025. This represents a decrease of 34.6% from the prior year.
Jet.AI Inc.'s EBITDA was -$10.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 19.9% from the prior year.
Jet.AI Inc. reported $4.6M in net income in fiscal year 2025. This represents an increase of 136.0% from the prior year.
Cash & Balance Sheet
Jet.AI Inc. held $1.8M in cash against $0 in long-term debt as of fiscal year 2025.
Jet.AI Inc. had 31,413 shares outstanding in fiscal year 2025.
Margins & Returns
Jet.AI Inc.'s gross margin was -3.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 3.6 percentage points from the prior year.
Jet.AI Inc.'s operating margin was -109.7% in fiscal year 2025, reflecting core business profitability. This is down 20.1 percentage points from the prior year.
Jet.AI Inc.'s net profit margin was 50.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 140.8 percentage points from the prior year.
Jet.AI Inc.'s ROE was 20.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 216.4 percentage points from the prior year.
Capital Allocation
Jet.AI Inc. invested $244K in research and development in fiscal year 2025. This represents an increase of 50.6% from the prior year.
JTAI Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.7M-4.8% | $1.8M+3.2% | $1.7M-23.1% | $2.2M-35.9% | $3.5M+9.5% | $3.2M-19.0% | $3.9M+27.0% | $3.1M |
| Cost of Revenue | $1.9M+23.4% | $1.6M-22.4% | $2.0M-14.4% | $2.3M-34.9% | $3.6M+0.2% | $3.6M-8.9% | $3.9M+12.3% | $3.5M |
| Gross Profit | -$234K-209.4% | $214K+174.3% | -$288K-161.5% | -$110K+4.5% | -$116K+71.8% | -$409K-2848.1% | -$14K+96.7% | -$417K |
| R&D Expenses | $99K+80.3% | $55K+39.7% | $39K-4.2% | $41K-62.3% | $109K+100.8% | $54K+42.9% | $38K+1.5% | $37K |
| SG&A Expenses | $2.2M-8.7% | $2.4M+73.2% | $1.4M-37.3% | $2.2M-15.3% | $2.7M-5.1% | $2.8M+1.8% | $2.7M+3.1% | $2.7M |
| Operating Income | -$2.9M-20.3% | -$2.4M-17.0% | -$2.0M+17.9% | -$2.5M+21.8% | -$3.2M+4.3% | -$3.3M-15.0% | -$2.9M+10.5% | -$3.2M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$2.7M-122.1% | $12.1M+716.0% | -$2.0M+17.6% | -$2.4M+24.8% | -$3.2M+6.8% | -$3.4M-18.0% | -$2.9M+10.5% | -$3.2M |
| EPS (Diluted) | $-6.68 | N/A | $-0.59+35.9% | $-0.92+99.8% | $-370.43 | N/A | $-43.82 | $-56.66 |
JTAI Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $39.4M+53.4% | $25.7M+99.2% | $12.9M-10.9% | $14.5M-21.6% | $18.5M+71.0% | $10.8M+221.6% | $3.4M-19.6% | $4.2M |
| Current Assets | $14.0M+548.0% | $2.2M-68.5% | $6.9M-20.6% | $8.7M-33.3% | $13.0M+104.0% | $6.4M+436.5% | $1.2M-38.8% | $1.9M |
| Cash & Equivalents | $13.5M+641.8% | $1.8M-47.6% | $3.5M-58.0% | $8.3M-32.5% | $12.2M+108.5% | $5.9M+1783.0% | $312K-40.9% | $528K |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $319K+227.2% | $97K-50.1% | $195K+73.9% | $112K-71.9% | $399K+201.7% | $132K-21.2% | $168K-68.7% | $536K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $3.4M-7.5% | $3.7M+1.3% | $3.7M+16.7% | $3.1M-35.1% | $4.8M+12.8% | $4.3M-48.9% | $8.4M+0.5% | $8.3M |
| Current Liabilities | $3.4M-7.5% | $3.7M+3.8% | $3.6M+22.7% | $2.9M-34.9% | $4.5M+18.1% | $3.8M-42.6% | $6.6M+12.3% | $5.9M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $36.0M+63.7% | $22.0M+138.1% | $9.2M-18.5% | $11.3M-16.9% | $13.6M+109.2% | $6.5M+229.5% | -$5.0M-20.6% | -$4.2M |
| Retained Earnings | -$50.6M-5.6% | -$48.0M+20.2% | -$60.1M-3.4% | -$58.1M-4.3% | -$55.7M-6.0% | -$52.5M-6.9% | -$49.1M-7.5% | -$45.7M |
JTAI Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.0M-539.0% | $692K+117.6% | -$3.9M-40.2% | -$2.8M-28.6% | -$2.2M+35.6% | -$3.4M-2405.6% | -$135K+93.8% | -$2.2M |
| Capital Expenditures | $3.3M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | -$6.3M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$1.9M+33.3% | -$2.8M-416.9% | -$551K-10.2% | -$500K+57.5% | -$1.2M+50.9% | -$2.4M-2420756.6% | $99+200.0% | -$99 |
| Financing Cash Flow | $16.6M+3228.7% | $499K+262.5% | -$307K+54.5% | -$675K-106.9% | $9.7M-14.2% | $11.3M+14062.6% | -$81K-103.8% | $2.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | 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 |
JTAI Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -13.9%-26.1pp | 12.1%+29.0pp | -16.9%-11.9pp | -5.0%-1.6pp | -3.3%+9.6pp | -12.9%-12.6pp | -0.4%+13.2pp | -13.5% |
| Operating Margin | -170.4%-35.6pp | -134.9%-15.9pp | -119.0%-7.6pp | -111.4%-20.1pp | -91.3%+13.2pp | -104.5%-30.9pp | -73.6%+30.9pp | -104.4% |
| Net Margin | -159.5%-845.1pp | 685.7%+800.6pp | -114.9%-7.8pp | -107.1%-15.9pp | -91.2%+16.0pp | -107.2%-33.7pp | -73.6%+30.9pp | -104.4% |
| Return on Equity | -7.4%-62.6pp | 55.1%+76.4pp | -21.3%-0.2pp | -21.1%+2.2pp | -23.3%+29.0pp | -52.2% | N/A | N/A |
| Return on Assets | -6.8%-53.9pp | 47.1%+62.4pp | -15.3%+1.2pp | -16.5%+0.7pp | -17.2%+14.3pp | -31.5%+54.3pp | -85.8%-8.7pp | -77.2% |
| Current Ratio | 4.09+3.5 | 0.58-1.3 | 1.92-1.1 | 2.97+0.1 | 2.90+1.2 | 1.68+1.5 | 0.18-0.1 | 0.33 |
| Debt-to-Equity | 0.10-0.1 | 0.17-0.2 | 0.40+0.1 | 0.28-0.1 | 0.35-0.3 | 0.66+2.3 | -1.67+0.3 | -2.00 |
| FCF Margin | -377.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: The current ratio is below 1.0 (0.58), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Jet.AI Inc.'s annual revenue?
Jet.AI Inc. (JTAI) reported $9.2M in total revenue for fiscal year 2025. This represents a -34.6% 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 Jet.AI Inc.'s revenue growing?
Jet.AI Inc. (JTAI) revenue declined by 34.6% year-over-year, from $14.0M to $9.2M in fiscal year 2025.
Is Jet.AI Inc. profitable?
Yes, Jet.AI Inc. (JTAI) reported a net income of $4.6M in fiscal year 2025, with a net profit margin of 50.0%.
What is Jet.AI Inc.'s EBITDA?
Jet.AI Inc. (JTAI) had EBITDA of -$10.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Jet.AI Inc.'s gross margin?
Jet.AI Inc. (JTAI) had a gross margin of -3.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Jet.AI Inc.'s operating margin?
Jet.AI Inc. (JTAI) had an operating margin of -109.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Jet.AI Inc.'s net profit margin?
Jet.AI Inc. (JTAI) had a net profit margin of 50.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Jet.AI Inc.'s return on equity (ROE)?
Jet.AI Inc. (JTAI) has a return on equity of 20.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Jet.AI Inc.'s operating cash flow?
Jet.AI Inc. (JTAI) generated -$8.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Jet.AI Inc.'s total assets?
Jet.AI Inc. (JTAI) had $25.7M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Jet.AI Inc. spend on research and development?
Jet.AI Inc. (JTAI) invested $244K in research and development during fiscal year 2025.
What is Jet.AI Inc.'s current ratio?
Jet.AI Inc. (JTAI) had a current ratio of 0.58 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Jet.AI Inc.'s debt-to-equity ratio?
Jet.AI Inc. (JTAI) had a debt-to-equity ratio of 0.17 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Jet.AI Inc.'s return on assets (ROA)?
Jet.AI Inc. (JTAI) had a return on assets of 17.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Jet.AI Inc.'s cash runway?
Based on fiscal year 2025 data, Jet.AI Inc. (JTAI) had $1.8M in cash against an annual operating cash burn of $8.2M. This gives an estimated cash runway of approximately 3 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Jet.AI Inc.'s Altman Z-Score?
Jet.AI Inc. (JTAI) has an Altman Z-Score of -2.32, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Jet.AI Inc.'s Piotroski F-Score?
Jet.AI Inc. (JTAI) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Jet.AI Inc.'s earnings high quality?
Jet.AI Inc. (JTAI) has an earnings quality ratio of -1.79x, considered low quality (accrual-driven). 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.
How financially healthy is Jet.AI Inc.?
Jet.AI Inc. (JTAI) scores 38 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.