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flyExclusive Delivers $111 Million in Revenue and 95% Gross Profit Growth as Fleet Transformation Drives Record Q3 Performance

FLYX
  • Revenue increased 21% year-over-year to $111.1 million for the third quarter ended September 30, 2026.
  • Gross profit rose 95% to $24.6 million, expanding gross margin by 850 basis points to 22%.
  • Adjusted EBITDA improved by $7.1 million to a profit of $5.1 million, compared to a loss of $1.9 million in the prior-year period.
  • Total flight hours grew 7% to 19,660 while the number of revenue-generating aircraft on certificate declined 19% to 73.
  • Dispatch availability improved 930 basis points to 58%, up from 49% in the third quarter of 2025.
  • Core fleet aircraft utilization increased approximately 19%, with average monthly usage reaching 86 hours per aircraft.
  • External maintenance, repair & overhaul (MRO) revenue grew 38% to $4.3 million.
  • Jet Club retail sales increased 22% to $38.6 million, while fractional share & flight-fund sales rose 22% to $16.8 million.
  • Year-to-date revenue for the first nine months of 2026 increased 17% to $318.5 million with Adjusted EBITDA reaching $8.6 million.
  • SG&A expense as a percentage of revenue declined 106 basis points to 20% while revenue per SG&A employee increased 8%.
  • The company eliminated 35 non-performing aircraft, with only two remaining under contract for sale.
  • Cash & cash equivalents ended the quarter at $19.6 million, while long-term notes payable declined to $136.0 million.