NASDAQ: JTAI
Jet.AI Inc.CIK 0001861622 · SIC 4522 · Air Transportation, Nonscheduled
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Jet.AI launches at-the-market offering to sell up to $35.1M of stock at $0.39/share
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Latest financial statements
From 10-Q filed Aug 14, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations (Unaudited)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenues | 5,320,145 | 2,225,900 | 7,001,381 | 5,700,538 |
| Cost of revenues | 5,503,893 | 2,336,200 | 7,419,352 | 5,926,352 |
| Gross loss | (183,748) | (110,300) | (417,971) | (225,814) |
| Operating Expenses: | ||||
| General and administrative (including stock-based compensation of $64,382, $763,132, $128,764, and $1,314,068, respectively) | 2,154,127 | 2,246,980 | 4,379,989 | 4,899,407 |
| Sales and marketing | 289,347 | 81,601 | 595,734 | 376,009 |
| Research and development | 55,484 | 41,044 | 154,564 | 149,968 |
| Total operating expenses | 2,498,958 | 2,369,625 | 5,130,287 | 5,425,384 |
| Operating loss | (2,682,706) | (2,479,925) | (5,548,258) | (5,651,198) |
| Other income: | ||||
| Other income | 7,035 | 94,902 | 97,485 | 96,371 |
| Unrealized gain on other investments | 399,000 | - | 493,000 | - |
| Total other income | 406,035 | 94,902 | 590,485 | 96,371 |
| Loss before provision for income taxes | (2,276,671) | (2,385,023) | (4,957,773) | (5,554,827) |
| Provision for income taxes | - | - | - | - |
| Net Loss | (2,276,671) | (2,385,023) | (4,957,773) | (5,554,827) |
| Weighted average shares outstanding basic and diluted | 1,326,189 | 12,918 | 866,305 | 11,579 |
| Net loss per share basic and diluted | (1.72) | (184.63) | (5.72) | (479.73) |
Consolidated Balance Sheets
| Description | June 30, 2026 (Unaudited) | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | 10,608,614 | 1,819,503 |
| Accounts receivable | 84,557 | 97,331 |
| Other assets | 182,283 | 248,724 |
| Total current assets | 10,875,454 | 2,165,558 |
| Property and equipment, net | 1,231 | 2,505 |
| Intangible assets, net | 86,745 | 86,745 |
| Right-of-use lease asset | - | 508,707 |
| Investment in joint venture | 3,965,000 | 865,000 |
| Deposit on aircraft | 4,050,000 | 4,050,000 |
| Deposits and other assets | 228,811 | 868,561 |
| Other investments | 22,880,000 | 17,137,000 |
| Total assets | 42,087,241 | 25,684,076 |
| Liabilities and Stockholders’ Equity | ||
| Current liabilities: | ||
| Accounts payable | 808,904 | 1,621,379 |
| Accrued liabilities | 1,024,808 | 1,148,782 |
| Deferred revenue | 269,813 | 443,126 |
| Operating lease liability | - | 495,782 |
| Total current liabilities | 2,103,525 | 3,709,069 |
| Commitments and contingencies (Note 2, 5, and 6) | - | - |
| Stockholders’ Equity | ||
| Preferred Stock, 4,000,000 shares authorized, par value $0.0001, 0 issued and outstanding | - | - |
| Series B Convertible Preferred Stock, 5,000 shares authorized, par value $0.0001, 0 and 750 issued and outstanding | - | - |
| Common stock, 200,000,000 shares authorized, par value $0.0001, 1,725,964 and 31,413 issued and outstanding | 172 | 2 |
| Subscription receivable | (6,724) | (6,724) |
| Additional paid-in capital | 92,904,645 | 69,938,333 |
| Accumulated deficit | (52,914,377) | (47,956,604) |
| Total stockholders’ equity | 39,983,716 | 21,975,007 |
| Total liabilities and stockholders’ equity | 42,087,241 | 25,684,076 |
Consolidated Statements of Cash Flows (Unaudited)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net loss | (4,957,773) | (5,554,827) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Unrealized gain on other investments | (493,000) | - |
| Amortization and depreciation | 1,274 | 1,275 |
| Stock-based compensation | 128,764 | 1,314,068 |
| Non-cash operating lease costs | 146,790 | 267,855 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 12,774 | 20,151 |
| Other current assets | 66,441 | 158,045 |
| Deferred offering costs | - | (45,000) |
| Accounts payable | (812,475) | 86,911 |
| Accrued liabilities | (123,974) | (300,684) |
| Deferred revenue | (173,313) | (671,889) |
| Operating lease liability | (133,865) | (260,805) |
| Deposits and other assets | 639,750 | - |
| Net cash used in operating activities | (5,698,607) | (4,984,900) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Advances under related party promissory note | - | (35,995) |
| Investment in equity certificates | (5,250,000) | - |
| Investment in joint venture | (3,100,000) | - |
| Deposit on aircraft | - | (1,650,000) |
| Deposits and other assets | - | 9,000 |
| Net cash used in investing activities | (8,350,000) | (1,676,995) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Offering costs | (4,884,156) | (1,945,000) |
| Proceeds from exercise of Series B Convertible Preferred Stock warrants | - | 11,000,000 |
| Proceeds from sale of Common Stock | 27,721,874 | - |
| Net cash provided by financing activities | 22,837,718 | 9,055,000 |
| Increase in cash and cash equivalents | 8,789,111 | 2,393,105 |
| Cash and cash equivalents, beginning of period | 1,819,503 | 5,872,627 |
| Cash and cash equivalents, end of period | 10,608,614 | 8,265,732 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for interest | - | - |
| Cash paid for income taxes | - | - |
| Non-cash financing activities: | ||
| Issuance of Common Stock for Series B Preferred Stock conversion | 20 | - |
| Issuance of Common Stock for offering costs | 258,300 | - |
| Removal of right-of-use lease asset and operating liability due to exercise of purchase option | 361,917 | - |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗