flyExclusive, Inc.
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Range $7 – $7
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About the company
flyExclusive, Inc. , headquartered in Kinston, North Carolina, is a worldwide proprietor and operator of private jet fleets. The company's comprehensive services encompass on-demand jet charter flights, unique ownership and leaseback programs designed for aircraft buyers, and a full suite of aircraft services including maintenance, repair, interior customization, and exterior painting.
- CEO
- Thomas James Segrave Jr.
- IPO
- 2023
- Employees
- 120
- HQ
- Kinston, NC, US
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- Market Cap
- $102.88M
- P/E
- -1.59
- PEG
- -0.05
- P/S
- 0.25
- P/B
- -0.31
- EV/EBITDA
- -19.83
- Div Yield
- 0.00%
- Gross Margin
- 13.93%
- Op Margin
- -8.96%
- Net Margin
- -5.28%
- ROE
- 7.78%
- ROIC
- -15.49%
Latest fiscal year · YoY change
- Revenue
- $375.88M+14.9%
- Gross Profit
- $32.66M-11.9%
- Op Income
- $-49,921,000
- Net Income
- $-17,592,000+16.5%
- EPS
- $-1.01+5.6%
- OCF Growth
- +161.2%
- FCF Growth
- +64.4%
- 52W High
- $8.88
- 52W Low
- $1.05
- 50D MA
- $1.57
- 200D MA
- $2.57
- Beta
- 0.25
- RSI (14)
- 47
- Avg Volume
- 430.94K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
flyExclusive said Q1 2026 showed its fleet transformation is translating into higher revenue, better margins, and the first positive adjusted EBITDA in a first quarter.· May 11, 2026
- Revenue was about $96.3 million, up roughly 9% year over year, with flight revenue up 9% to $92.5 million.
- Adjusted EBITDA turned positive for the first time in a first quarter at about $200,000, versus a $6.4 million loss a year ago.
- Gross profit rose 69% year over year to $19.1 million and gross margin expanded to 20%, up about 700 basis points.
- Fleet and operations improved materially: dispatch availability was up about 7.6% year over year, and utilization on the core fleet averaged 75 hours per aircraft per month, up from 65.
- Management expects Q2 revenue and flight hours to significantly exceed Q1, with about 15% sequential top-line growth, but declined to give formal full-year guidance.
flyExclusive reported first-quarter 2026 consolidated revenue of approximately $96.3 million, up about 9% year over year. Flight revenue increased about 9% to $92.5 million, flight hours rose 7% to 18,537 hours, and utilization on the core fleet averaged 75 hours per aircraft per month versus 65 a year ago. Gross profit was $19.1 million, up 69% year over year, and gross margin was 20%, up roughly 700 basis points. Contribution margin improved to 50.5% from 46.9%, SG&A was approximately $22.7 million, and adjusted EBITDA was positive at about $200,000 versus a $6.4 million loss in Q1 2025. Management said long-term notes payable were reduced by about $10 million in the quarter, and cash and cash equivalents were approximately $18.7 million. For the next quarter, management said revenue and flight hours in Q2 should significantly exceed Q1, with around 15% sequential top-line growth. For the full year, they did not provide formal guidance, but said every quarter of 2026 is expected to outperform the comparable quarter of 2025 on revenue, adjusted EBITDA, and flight hours.
The CEO framed Q1 as evidence that flyExclusive’s multi-year transformation is largely complete and that the company is moving from restructuring into execution. He emphasized the fleet is now more efficient, with nonperforming aircraft cut from 37 at the start of 2024 to 6 at quarter-end, and said dispatch, utilization, and revenue mix improvements are now showing up in results. His tone was confident and upbeat, but he also noted macro uncertainty and said the business is being managed conservatively.
The CFO focused on operating leverage and the quality of growth, citing revenue of $96.3 million, gross profit of $19.1 million, gross margin of 20%, and adjusted EBITDA of about $200,000. He said contribution margin improved to 50.5%, SG&A was about $22.7 million, and revenue per SG&A headcount was about $481,000. On liquidity and capital structure, he said long-term notes payable were reduced by about $10 million in Q1, debt has been cut by roughly 40% since the start of 2025, cash and equivalents were about $18.7 million, and the company still had about $98 million of ATM availability. He also said fuel increases are passed through in contracted programs, limiting margin impact there, while maintenance costs are trending favorably as the fleet mix improves.
There was no traditional analyst Q&A section in the transcript; management instead addressed expected questions in prepared remarks. The main concern was macro volatility, including higher fuel costs, market uncertainty, and geopolitical tension, but management said they have not seen demand disruption and believe current conditions are not a material near-term headwind. They also explained why they did not give formal full-year guidance, citing seasonality, macro uncertainty, and the timing of aircraft additions, while still saying each quarter of 2026 should beat the same quarter of 2025.
The positive case is that flyExclusive appears to be converting its fleet overhaul into better economics: higher dispatch availability, better utilization, stronger contracted revenue mix, and positive adjusted EBITDA in a seasonally weak quarter. Management also pointed to growing fractional demand, a stronger MRO business, and additional upside from new aircraft, MSUs, and software integration.
The risks are that management still withheld formal full-year guidance, citing limited visibility, seasonality, macro dynamics, and aircraft transition timing. The company also still has only modest profitability, a relatively small cash balance of $18.7 million, and must continue executing on debt reduction, aircraft additions, and operational integration for the thesis to keep working.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 25.4%
- Shares Outstanding
- 80.69M
- Float Shares
- 20.47M
of shares held by institutions
41 13F filers
Buy/sell ratio 7.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 163.22K | ▲ 4.06K |
| Cwm, LLC | 2.42K | ▲ 2.42K |
| California State Teachers Retirement System | 281 | ▼ 41 |
| Sunbelt Securities, Inc. | 4 | ▲ 4 |
Held by 56 ETFs
Biggest fund positions in FLYX by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| May 13, 26 | Segrave Thomas J. Sr | other | 46,296 |
| May 13, 26 | Fox Michael S. | other | 46,296 |
| May 13, 26 | Fegel Gary Mischa | other | 162,037 |
| May 13, 26 | Garner Bradley G | other | 38,580 |
| May 13, 26 | Guina Michael | other | 38,580 |
| May 13, 26 | Hymowitz Gregg | other | 46,296 |
| May 13, 26 | Hopper Peter B. | other | 46,296 |
| May 13, 26 | Nichols Zachary M. | other | 23,148 |
| May 13, 26 | HOLDING FRANK B JR | other | 46,296 |
| May 13, 26 | Lesmeister Matthew | other | 38,580 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our FLYX coverage
Recent articles, reports, and earnings notes.
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Generate FLYX report →flyExclusive Reports Record Second Quarter Revenue and Third Consecutive Quarter of Positive Adjusted EBITDA
businesswire.com · Aug 13
flyExclusive, Inc. (FLYX) Q2 2026 Earnings Call Prepared Remarks Transcript
seekingalpha.com · Aug 12
flyExclusive Reports Second Quarter and First Half 2026 Results
businesswire.com · Aug 11
flyExclusive Deepens Vertical Integration With Expanded Maintenance and New Pilot Training Center at the Global TransPark, Backed by $30 Million North Carolina Investment
businesswire.com · Jul 29
flyExclusive Reports Record Jet Club Momentum as Membership Growth Accelerates
businesswire.com · Jul 22
flyExclusive Completes Strategic Aviation Asset Acquisition, Accelerating Fleet Growth, Customer Expansion and Capital Flexibility
businesswire.com · Jul 14
flyExclusive Reaches Final Approval Milestone for Jet.AI Transaction, Positioning Company for Continued Growth
businesswire.com · Jul 6
Jet.AI Stockholder Votes Exceed Majority Threshold for flyExclusive Transaction
globenewswire.com · Jul 1
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