| Schedule of Disaggregation of Revenue by Service Type |
The following table disaggregates revenue by service type and the timing of when these services are provided to the member or customer:
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
|
|
2025 |
|
|
2024 |
|
|
Services transferred at a point in time: |
|
|
|
|
|
|
|
Flights |
|
$ |
82,747 |
|
|
$ |
76,119 |
|
|
Aircraft Management Services |
|
|
765 |
|
|
|
— |
|
|
Services transferred over time: |
|
|
|
|
|
|
|
Memberships |
|
|
1,056 |
|
|
|
1,468 |
|
|
MRO |
|
|
1,761 |
|
|
|
1,490 |
|
|
Fractional ownership purchase price |
|
|
1,796 |
|
|
|
895 |
|
|
|
|
$ |
88,125 |
|
|
$ |
79,972 |
|
|
|
The following table disaggregates revenue by service type and the timing of when these services are provided to the member or customer:
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
(in thousands) |
|
|
|
2024 |
|
|
|
2023 |
Services transferred at a point in time: |
|
|
|
|
|
|
|
|
Flights |
|
|
$ |
308,283 |
|
|
$ |
303,299 |
Aircraft Management Services |
|
|
|
1,942 |
|
|
|
— |
Services transferred over time: |
|
|
|
|
|
|
|
|
Memberships |
|
|
|
4,005 |
|
|
|
5,458 |
MRO |
|
|
|
7,166 |
|
|
|
4,606 |
Fractional ownership purchase price |
|
|
|
5,877 |
|
|
|
1,999 |
|
|
|
$ |
327,274 |
|
|
$ |
315,362 |
|
| Schedule of Rollforward of Deferred Revenue |
The following tables provide a rollforward of deferred revenue for the three months ended March 31, 2025:
|
|
|
|
|
|
|
Amount |
|
Balance as of December 31, 2024 |
|
$ |
149,517 |
|
Revenue recognized |
|
|
76,370 |
|
Revenue deferred |
|
|
(78,773 |
) |
Balance as of March 31, 2025 |
|
$ |
147,114 |
|
|
The following tables provide a rollforward of deferred revenue:
|
|
|
|
|
(in thousands) |
|
|
|
Amount |
Balance as of December 31, 2022 |
|
|
$ |
60,602 |
Revenue recognized |
|
|
|
(185,908) |
Revenue deferred |
|
|
|
219,246 |
Balance as of December 31, 2023 |
|
|
|
93,940 |
Revenue recognized |
|
|
|
(249,770) |
Revenue deferred |
|
|
|
305,346 |
Balance as of December 31, 2024 |
|
|
$ |
149,517 |
|