Volato revenue collapses 96% as aircraft sales end; discloses control weaknesses, ATM raise

Filed May 15, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 15, 2025 · ~1 min read

Key Changes

• high

  Q1 2026 revenue fell to $1.0M from $26.1M as aircraft deliveries ceased; company swung to $2.6M net loss from $0.5M profit. Working capital deficit improved to $2.5M from $18.2M but cash dropped to $1.9M.

  MD&A: Results of Operations verify on EDGAR →
• high

  Management now deems disclosure controls ineffective due to material weaknesses in financial reporting, down from effective in prior year. Despite weaknesses, management asserts financials are fairly presented after additional procedures.

  Controls and Procedures verify on EDGAR →
• high

  Company raised $3.6M via new at-the-market equity program in April 2026, nearly doubling March cash balance. Going concern assessment no longer references aircraft sales margins as liquidity source.

  MD&A: Liquidity verify on EDGAR →