Flyte Aviation — Third Quarter 2026 Earnings Summary

Financial Performance

• Preliminary third quarter 2026 revenue reached approximately $2.15 million, an 110% increase quarter-over-quarter from $1.02 million in Q2 2026.
• Aviation segment revenue increased 150% sequentially to approximately $1.87 million.
• MedTech segment revenue increased 24% year-over-year and 4% sequentially to approximately $280,000.
• Direct-to-consumer revenue surpassed $500,000 during the third quarter.
• Financial results are preliminary, unaudited, and subject to change pending the independent registered public accounting firm's review.

Guidance and Future Outlook

• Management expects the addition of aircraft to the fleet to support further revenue growth during the current quarter and into 2027.
• The company anticipates continued revenue growth in the fourth quarter of 2026 and beyond.
• Operations to the Caribbean have commenced, with permitting for flights to and within Canada nearly complete.

Business Segments and Product Lines

• The redesigned direct-to-consumer booking platform launched in late May 2026 has driven a 185% surge in the user base.
• The platform added more than 13,000 new accounts, bringing the total registered user base to over 20,000.
• The company operates a growing fleet of Cirrus Vision Jets through its FAA-certified Part 135 operating subsidiary, Ponderosa Air, LLC.
• The strategy combines wholesale access to an international network of travel professionals with a retail platform for direct consumer relationships.

Market and Competitive Landscape

• The company is expanding brand recognition through strategic partnerships with organizations in hospitality, entertainment, sports, and culture, including The Maidstone, the Hamptons International Film Festival, and GSE Worldwide.
• Flyte differentiates itself from traditional models by utilizing a proprietary technology-forward approach to simplify booking, offering standardized pricing on select routes, and removing manual quoting processes.
• The company aims to build a scalable aviation ecosystem connecting aircraft, operators, brokers, customers, technology, data, and strategic partners.

Risks and Challenges

• Preliminary results may differ from final results included in the Form 10-Q due to adjustments or subsequent events.
• Risks include the need for additional capital and the ability to obtain financing on acceptable terms.
• Challenges involve the ability to add aircraft on a timely basis, obtain regulatory approvals (specifically for Canada and the Caribbean), and convert registered users into repeat paying customers.
• Other risks include reliance on third-party operators and brokers, competition, safety incidents, weather, fuel costs, pilot availability, and the performance of the technology platform.

Management Commentary and Tone

• CEO David Jenkins expressed extreme pleasure with the increasing revenue trajectory, noting that the company more than doubled revenue sequentially.
• Management stated they are just beginning to see the pieces of their aviation growth strategy come together, resulting in substantial increases in users and demand.
• Jenkins emphasized that surpassing 20,000 users is an important milestone but believes the network is still in the earliest stages of its potential.
• The tone reflects confidence in the modern approach to private aviation, aiming to make booking as seamless as other premium consumer services.

Other Key Points

• The press release notes that the financial results are preliminary and unaudited as of the date of the announcement.
• The company is focused on expanding its geographic footprint and technology network while maintaining a value proposition of privacy, comfort, reliability, and convenience.
• Flyte Aviation is listed on the NYSE American under the ticker symbol VJET.