Volato Group, Inc. (SOAR) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SOAR SEC filings page.
Volato Group, Inc. (SOAR) reported $30.2M in revenue over the twelve months to Jun 30, 2026, down 66.2% from the prior twelve months. This page shows its 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).
Volato’s 2025 recovery came from revenue scale and leaner overhead, but it still operates with negative equity and thin liquidity.
Operating margin moved from-22.1% in FY2024 to5.0% in FY2025, showing the sales rebound reached operating profit rather than stopping at gross profit. SG&A fell to$10.7M even as revenue nearly doubled, pointing to fixed-cost absorption and spending restraint as the main mechanism.
Profit was accompanied by operating cash flow of
Despite positive earnings, the balance sheet remains structurally stressed: liabilities of
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 Volato Group, 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.
Volato Group, Inc. held $1.9M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations generated $3.5M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Volato Group, Inc. scores 86/100 among other emerging companies.
Volato Group, Inc. had 16M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Volato Group, Inc. scores 81/100 among other emerging companies.
Not available for Volato Group, Inc., and counted as zero in the overall score.
Volato Group, Inc. reported revenue of $78.6M in fiscal year 2025, against $39.1M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Volato Group, Inc. scores 78/100 among other emerging companies.
Volato Group, Inc.'s operations generated $3.5M of cash in fiscal year 2025, against $16.9M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Volato Group, Inc. scores 89/100 among other emerging companies.
Volato Group, Inc.'s cash, cash equivalents and investments came to $1.9M at the end of fiscal year 2025, against $13.8M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Volato Group, Inc. scores 21/100 among other emerging companies.
Volato Group, Inc. scores -3.92, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($14.1M) relative to total liabilities ($13.8M). 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.
Volato Group, Inc. passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Volato Group, Inc. generates $0.68 in operating cash flow ($3.5M OCF vs $5.2M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Volato Group, Inc. earns $6.18 in operating income for every $1 of interest expense ($4.0M vs $641K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Volato Group, Inc. generated $965K in revenue in Q2 2026. This represents a decrease of 96.1% from the same quarter a year earlier. Against the prior quarter it is down 3.2%.
Volato Group, Inc.'s EBITDA was -$2.5M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 356.9% from the same quarter a year earlier. Against the prior quarter it is down 7.4%.
Volato Group, Inc. reported -$2.1M in net income in Q2 2026. This represents a decrease of 156.9% from the same quarter a year earlier. Against the prior quarter it is up 22.1%.
Cash & Balance Sheet
Volato Group, Inc. recorded an outflow of $462K in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 154.5% from the same quarter a year earlier. Against the prior quarter it is up 83.2%.
Volato Group, Inc. held $0 in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Volato Group, Inc.'s gross margin was 69.7% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 54.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.8 percentage points.
Volato Group, Inc.'s ROE was -59.2% in Q2 2026, measuring profit generated per dollar of shareholder equity.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Volato Group, Inc. invested $180K in capex in Q2 2026, funding long-term assets and infrastructure. Against the prior quarter it is up 2.3%.
Not reported for Q2 2026.
Not reported for Q2 2026.
SOAR Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $965K-96.1% | $997K-96.1% | $27.8M+7444.7% | $381K-99.0% | $24.9M+13632.0% | $25.5M+52989.6% | $369K-88.6% | $38.5M+952.7% |
| Cost of Revenue | $292K-98.6% | $294K-98.6% | $21.7M+90204.2% | $123K-99.6% | $21.1M+61923.5% | $21.0M+40259.6% | $24K+100.4% | $32.1M+861.6% |
| Gross Profit | $673K-82.1% | $703K-84.4% | $6.2M+1687.5% | $258K-96.0% | $3.8M+2462.6% | $4.5M+112500.0% | $345K-96.3% | $6.4M+1904.7% |
| SG&A Expenses | $3.2M+10.3% | $3.0M+54.8% | $3.0M-2.4% | $2.8M-33.8% | $2.9M-23.8% | $2.0M-54.5% | $3.1M+159.2% | $4.3M+98.0% |
| Operating Income | -$2.5M-389.0% | -$2.3M-192.9% | $3.1M+212.8% | -$2.6M-220.2% | $872K+123.9% | $2.5M+158.3% | -$2.8M-119.0% | $2.1M+216.4% |
| EBITDA | -$2.5M-356.9% | -$2.3M-187.7% | $3.2M+219.7% | -$2.5M-212.5% | $957K+126.8% | $2.6M+161.2% | -$2.7M-118.2% | $2.2M+227.6% |
| Interest Expense | $0 | $0-100.0% | $0-100.0% | $0-100.0% | $0-100.0% | $641K-41.7% | $900K-4.7% | $1.0M+64.7% |
| Income Tax | N/A | N/A | $478K+189.7% | $272K+2372.7% | $189K+2000.0% | $98K+1533.3% | -$533K-26750.0% | $11K |
| Net Income | -$2.1M-156.9% | -$2.6M-678.9% | -$6.0M-217.0% | $7.1M+261.1% | $3.6M+121.3% | $455K+102.6% | -$1.9M+91.9% | -$4.4M+62.5% |
| EPS (Basic) | -$0.06-104.3% | -$0.18-175.0% | -$1.42-116.8% | $1.42+137.8% | $1.39+109.6% | $0.24+101.6% | $8.47+110.0% | -$3.76-429.6% |
| EPS (Diluted) | -$0.06 | -$0.18-700.0% | -$1.28-115.1% | $1.26 | $0.75 | $0.03 | $8.47+110.0% | -$3.76 |
| Diluted Shares (Avg) | 35M | 15M+4.8% | N/A | 6M | 5M | 14M | N/A | 1M |
Not reported in any period shown, so not listed: R&D Expenses.
SOAR Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $13.5M+3.7% | $7.9M-66.2% | $12.0M-74.2% | $13.6M-71.6% | $13.0M-80.0% | $23.4M-65.7% | $46.3M-35.4% | $47.9M-32.0% |
| Current Assets | $11.2M+4.4% | $5.7M-72.6% | $9.8M-77.4% | $11.3M-74.1% | $10.7M-82.5% | $20.9M-47.1% | $43.3M-6.8% | $43.8M+7049.7% |
| Cash & Equivalents | $0-100.0% | $0-100.0% | $0-100.0% | $4.3M-22.3% | $4.7M-35.1% | $2.6M-68.9% | $4.0M-76.1% | $5.6M-44.8% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $12K-62.5% | $31K+3000.0% | $101K+4950.0% | $64K-45.8% | $32K-98.4% | $1K-100.0% | $2K-99.5% | $118K |
| Long-Term Investments | $1.9M | $0 | $1.9M | $0 | $0 | $0 | $0 | $0 |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | $635K0.0% | $635K |
| Total Liabilities | $10.1M-49.9% | $8.4M-78.7% | $13.8M-78.0% | $9.5M-86.0% | $20.1M-75.0% | $39.2M-41.0% | $62.6M+10.0% | $67.6M-35.8% |
| Current Liabilities | $10.0M-50.0% | $8.3M-78.8% | $13.7M-77.9% | $9.4M-85.9% | $20.0M-74.8% | $39.1M-23.7% | $62.2M+30.6% | $66.4M+1101.9% |
| Non-Current Liabilities | $61K-43.0% | $73K-38.1% | $85K-80.4% | $96K-91.7% | $107K-90.2% | $118K-99.2% | $433K-95.4% | $1.2M-98.8% |
| Total Equity | $3.5M+149.1% | -$446K+97.2% | -$1.8M+88.7% | $4.1M+120.9% | -$7.1M+52.9% | -$15.8M-1034.7% | -$16.3M-210.7% | -$19.6M+43.6% |
| Retained Earnings | -$105.5M-5.2% | -$103.4M+0.4% | -$100.8M+3.4% | -$93.1M+9.1% | -$100.3M-2.3% | -$103.9M-28.1% | -$104.3M-63.8% | -$102.4M-2252.0% |
Not reported in any period shown, so not listed: Inventory, Long-Term Debt.
SOAR Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$282K-133.3% | -$2.6M-724.7% | $5.9M+192.3% | -$3.0M+4.7% | $848K+157.0% | -$312K+95.9% | -$6.4M-2.5% | -$3.1M+71.2% |
| Depreciation & Amortization | $61K-28.2% | $58K-31.8% | $53K-63.4% | $75K-6.3% | $85K+6.3% | $85K+30.8% | $145K+2171.4% | $80K-18.4% |
| Stock-Based Compensation | N/A | $30K-34.8% | N/A | $0 | $0 | $46K-44.6% | N/A | $0 |
| Capital Expenditures | $180K | $176K | $142K+4633.3% | $69K+115.6% | $0-100.0% | $0-100.0% | $3K-98.4% | $32K-88.1% |
| Free Cash Flow | -$462K-154.5% | -$2.7M-781.1% | $5.8M+190.1% | -$3.0M+3.5% | $848K+207.2% | -$312K+96.0% | -$6.4M+0.4% | -$3.2M+71.6% |
| Investing Cash Flow | -$180K-2100.0% | -$176K-938.1% | -$8.0M-26890.0% | -$69K-115.6% | $9K+115.8% | $21K+137.5% | $30K-91.2% | -$32K+88.1% |
| Financing Cash Flow | $7.0M+449.4% | -$46K+95.9% | $2.5M-48.9% | $2.7M+78.4% | $1.3M+197.2% | -$1.1M-65.9% | $4.8M-61.6% | $1.5M-89.1% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
SOAR Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.7%+54.6pp | 70.5%+52.9pp | 22.1%-71.4pp | 67.7%+51.1pp | 15.2%-66.1pp | 17.6%+26.0pp | 93.5% | 16.6%+7.9pp |
| Operating Margin | -261.1% | -235.4% | 11.2% | -673.0% | 3.5% | 9.9% | -751.0% | 5.5%+55.7pp |
| Net Margin | -212.5% | -264.2% | -21.7% | 1875.3% | 14.5% | 1.8% | -515.4% | -11.5% |
| Return on Equity | -59.2% | N/A | N/A | 174.1% | N/A | N/A | N/A | N/A |
| Return on Assets | -15.2%-42.8pp | -33.3%-35.3pp | -50.4%-46.3pp | 52.6%+61.8pp | 27.6%+53.5pp | 1.9%+27.4pp | -4.1%+28.8pp | -9.3%+7.5pp |
| Current Ratio | 1.11+0.6x | 0.69+0.2x | 0.720.0x | 1.21+0.5x | 0.53-0.2x | 0.53-0.2x | 0.70-0.3x | 0.66+0.5x |
| Debt-to-Equity | 2.91 | N/A | N/A | 2.31 | N/A | N/A | N/A | N/A |
| Asset Turnover | 0.07-1.8x | 0.13-1.0x | 2.33+2.3x | 0.03-0.8x | 1.90+1.9x | 1.09+1.1x | 0.010.0x | 0.80+0.8x |
| FCF Margin | -47.9%-51.3pp | -275.7% | 20.8% | -799.7% | 3.4% | -1.2% | -1742.8% | -8.2% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$1.8M), 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 (0.72), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Volato Group, Inc. SOAR | FY2025 | $78.6M | $5.2M | 6.6% | $14.1M | 59/100 |
| Blade Air Mobility, Inc. BLDE | FY2025 | $197.1M | $41.3M | 21.0% | $374.2M | 11/100 |
| Greenpro Capital Corp. GRNQ | FY2025 | $2.1M | -$3.0M | N/A | $15.0M | 28/100 |
| SU Group Holdings Limited SUGP | FY2025 | $24.7M | -$2.4M | -9.6% | $597K | 43/100 |
| Professional Diversity Network, Inc. IPDN | FY2025 | $6.5M | -$6.5M | -98.5% | $2.4M | 31/100 |
| Multi Ways Holdings Limited MWG | FY2025 | $44.8M | -$433K | -1.0% | $7.6M | 34/100 |
Where Volato Group, Inc. Ranks
Frequently Asked Questions
What is Volato Group, Inc.'s annual revenue?
Volato Group, Inc. (SOAR) reported $78.6M in total revenue for fiscal year 2025. This represents a 101.1% 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 Volato Group, Inc.'s revenue growing?
Volato Group, Inc. (SOAR) revenue grew by 101.1% year-over-year, from $39.1M to $78.6M in fiscal year 2025.
Is Volato Group, Inc. profitable?
Yes, Volato Group, Inc. (SOAR) reported a net income of $5.2M in fiscal year 2025, with a net profit margin of 6.6%.
What is Volato Group, Inc.'s EBITDA?
Volato Group, Inc. (SOAR) had EBITDA of $4.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Volato Group, Inc.'s gross margin?
Volato Group, Inc. (SOAR) had a gross margin of 18.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Volato Group, Inc.'s operating margin?
Volato Group, Inc. (SOAR) had an operating margin of 5.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Volato Group, Inc.'s net profit margin?
Volato Group, Inc. (SOAR) had a net profit margin of 6.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Volato Group, Inc.'s free cash flow?
Volato Group, Inc. (SOAR) generated $3.3M in free cash flow during fiscal year 2025. This represents a 119.2% 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 Volato Group, Inc.'s operating cash flow?
Volato Group, Inc. (SOAR) generated $3.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Volato Group, Inc.'s total assets?
Volato Group, Inc. (SOAR) had $12.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Volato Group, Inc.'s capital expenditures?
Volato Group, Inc. (SOAR) invested $211K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Volato Group, Inc.'s current ratio?
Volato Group, Inc. (SOAR) had a current ratio of 0.72 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Volato Group, Inc.'s return on assets (ROA)?
Volato Group, Inc. (SOAR) had a return on assets of 43.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Volato Group, Inc.'s P/E ratio?
Volato Group, Inc. (SOAR) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $14.1M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Volato Group, Inc.'s price-to-sales ratio?
Volato Group, Inc. (SOAR) trades at 0.5x sales, its market capitalization divided by revenue of $30.2M revenue, trailing 12 months to June 30, 2026. The market capitalization is $14.1M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Volato Group, Inc.'s debt-to-equity ratio negative or not reported?
Volato Group, Inc. (SOAR) has negative shareholder equity of -$1.8M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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 Volato Group, Inc.'s Altman Z-Score?
Volato Group, Inc. (SOAR) has an Altman Z-Score of -3.92, 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 Volato Group, Inc.'s Piotroski F-Score?
Volato Group, Inc. (SOAR) has a Piotroski F-Score of 6 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 Volato Group, Inc.'s earnings high quality?
Volato Group, Inc. (SOAR) has an earnings quality ratio of 0.68x, 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 Volato Group, Inc. cover its interest payments?
Volato Group, Inc. (SOAR) has an interest coverage ratio of 6.18x, meaning it can comfortably 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 Volato Group, Inc.?
Volato Group, Inc. (SOAR) scores 59 out of 100 on our Financial Health Score, indicating moderate 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.