Quarterly ResultMay 14, 2026, 04:22 PM
Jet.AI Q1 Net Loss Narrows to $2.68M; Cash Up to $13.5M
AI Summary
Jet.AI Inc. reported a net loss of $2.68 million for Q1 2026, an improvement from $3.17 million in Q1 2025, despite a significant revenue decline of 51.6% to $1.68 million. The company's cash and cash equivalents surged to $13.5 million from $1.8 million at year-end 2025, driven by $19.8 million in proceeds from common stock sales. Jet.AI is transitioning its primary focus to AI data center operations, including a new joint venture and an investment in an AI-focused SPAC.
Key Highlights
- Net loss for Q1 2026 narrowed to $2.68 million, an improvement from $3.17 million in Q1 2025.
- Revenue decreased by 51.6% to $1.68 million in Q1 2026 from $3.47 million in Q1 2025.
- Cash and cash equivalents increased to $13.5 million at March 31, 2026, from $1.8 million at December 31, 2025.
- Total stockholders' equity rose to $35.98 million from $21.98 million at year-end 2025.
- Received $19.81 million from the sale of common stock during Q1 2026.
- Invested $1.9 million in a joint venture for data center development in Q1 2026.
- Effected a 1-for-200 reverse common stock split on April 8, 2026.
- Net loss per share improved significantly to $(6.68) from $(370.43) in Q1 2025.