Jet.AI Q1 Net Loss $(2.68)M; flyExclusive Merger on Track
Jet.AI Inc. announced its first-quarter 2026 financial results, reporting a net loss of $(2.68) million, an improvement from the $(3.17) million loss in Q1 2025, despite a decrease in revenue to $1.68 million. The company significantly bolstered its cash position to $13.5 million and confirmed that its proposed merger with flyExclusive is on track for a shareholder vote on June 11, 2026. Additionally, Jet.AI highlighted strategic investments, including a $5 million economic interest in SpaceX and $17.23 million in AI Infrastructure Acquisition Corp., alongside progress in its data center projects and a new $5 million share repurchase authorization. The company also amended employment agreements for its Executive Chairman and Interim CFO, extending restricted periods and adding clawback provisions.
Key Highlights
- flyExclusive merger on track for a shareholder vote on June 11, 2026.
- Reported Q1 2026 Net Loss of $(2,681,102), compared to $(3,169,804) in Q1 2025.
- Cash and cash equivalents increased to $13,497,732 as of March 31, 2026, from $1,819,503 on December 31, 2025.
- Q1 2026 Revenues were $1,681,236, down from $3,474,638 in Q1 2025.
- Acquired a $5 million economic interest in SpaceX.
- Holds approximately $17.23 million in AI Infrastructure Acquisition Corp. (AIIA) shares.
- Board approved a $5 million share repurchase authorization.
- Consensus Compute JV secured natural gas supply equivalent to 500MW for its Manitoba campus.
Price Impact
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