Every 10-Q that Volato Group Inc (SOAR) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow SOAR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SOAR filings page.
Volato Group, Inc. reports sharply lower revenue and a return to losses for the six months ended June 30, 2026 while restructuring its balance sheet and business model. Revenue fell to $1.97 million from $50.34 million a year earlier, as prior-period aircraft sales of $49.60 million dropped to zero and the business became almost entirely subscription and software based. The company posted a net loss of $4.69 million versus net income of $4.06 million in the prior-year period, with operating loss of $4.86 million.
Despite weaker operating results, liquidity and capitalization improved. Cash increased to $8.44 million from $4.70 million, total liabilities declined to $10.07 million from $13.80 million, and shareholders’ position moved from a deficit of $1.85 million at December 31, 2025 to positive equity of $3.47 million, driven largely by conversions of $4.29 million of convertible notes into equity and equity offerings including ATM sales, PIPE and registered direct transactions. All unsecured convertible notes outstanding at December 31, 2025 were fully converted by June 30, 2026.
The company has shifted away from operating aircraft, transferring lease obligations to flyExclusive and selling certain aviation and intellectual property assets, while growing its Vaunt subscription platform and other software initiatives. However, management discloses a going concern uncertainty, citing a $4.7 million net loss for the period and an accumulated deficit of $105.5 million, and states that continued operations depend on additional debt or equity financing and prudent expense management.
Volato Group (SOAR) reported Q3 2025 results showing a smaller, software‑centric business following the transition of flight operations to flyExclusive and the sale of its Part 135 certificate. Revenue was $381 thousand, with an operating loss of $2.564 million. Other income and gains drove net income of $7.145 million, including $4.814 million from discontinued operations.
For the nine months, net income was $11.202 million. The balance sheet improved markedly: the prior working capital strain eased and shareholders’ equity turned positive at $4.105 million as of September 30, 2025, after repaying the SAC G280 credit facility and converting notes into equity. Cash was $4.350 million and liabilities totaled $9.485 million. Shares outstanding were 7,441,603 as of November 5, 2025.
The company disclosed a going concern uncertainty, citing an accumulated deficit of $93.105 million and plans to fund operations through aircraft sales margins and future financing. Volato announced a pending merger with M2i Global, subject to stockholder approval, under which M2i holders are expected to own about 85% of the combined company.
Volato Group, Inc. reported a rebound driven by aircraft sales and subscription revenue, delivering $24.9 million of revenue in the quarter and $50.3 million for the six months. Aircraft sales accounted for the vast majority of the quarter's revenue ($24.5 million), while Vaunt subscription revenue contributed $355 thousand in the quarter and $738 thousand year-to-date. Operating income from continuing operations was positive for the quarter at $872 thousand, and net income from continuing operations was $2.683 million for the quarter and $3.043 million for the six months; total net income including discontinued operations was $3.602 million quarter-to-date.
Despite recent profitability, the balance sheet shows material strain: cash and restricted cash totaled $4.707 million, deposits on aircraft fell to $3.0 million from $36.0 million, and management discloses a working capital deficit of approximately $9.3 million and an accumulated deficit of approximately $100.3 million, raising substantial doubt about going concern. Notable transactions include the sale of GC Aviation for $2.0 million (with a $1.8 million note receivable), conversion of the 2024 convertible note into 2,538,939 shares, issuance of a second tranche convertible note of $1.5 million, and full repayment and termination of the SAC Leasing G280 credit facility.