v3.25.4
Revenue
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue

7. Revenue

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,

 

2025

 

 

2024

 

Services transferred at a point in time:

 

 

 

 

 

Flights

$

353,867

 

 

$

308,283

 

Aircraft management services

 

2,101

 

 

 

1,942

 

Services transferred over time:

 

 

 

 

 

Memberships

 

132

 

 

 

4,005

 

MRO

 

10,623

 

 

 

7,166

 

Fractional ownership purchase price

 

9,154

 

 

 

5,877

 

$

375,877

 

 

$

327,274

 

Transaction Price

The transaction prices for each of the primary revenue streams are as follows:

•
Jet Club Membership and Charter – Membership fees (less credits issued), and flight related charges based on trips flown
•
MRO – Time and materials incurred for services performed
•
Fractional Ownership – The portion of fractional interest purchase price (less credits issued) allocated to revenue, and flight related charges based on trips flown
•
Aircraft Management Services – Fixed monthly management fees charged to third-party aircraft owners.

The following table provide a rollforward of deferred revenue:

 

 

Amount

 

Balance as of December 31, 2024

 

$

149,517

 

Revenue recognized

 

 

(281,521

)

Revenue deferred

 

 

294,323

 

Balance as of December 31, 2025

 

$

162,319

 

 

 

The increase in deferred revenue at December 31, 2025 compared to December 31, 2024 is due to increased customer billings for services relating to timing of satisfaction of the Company’s performance obligations.