v3.25.4
Consolidated Statements of Shareholders' Equity (Deficit) and Temporary Equity - USD ($)
$ in Thousands
Total
Glenn Willis
Honda Jet
Series A Preferred Stock
Series B Preferred stock
Common Class A
Common Class B
Total flyExclusive stockholders’ equity (deficit)
Total flyExclusive stockholders’ equity (deficit)
Wordsworth
Total flyExclusive stockholders’ equity (deficit)
Glenn Willis
Total flyExclusive stockholders’ equity (deficit)
Series A Preferred Stock
Total flyExclusive stockholders’ equity (deficit)
Series B Preferred stock
Common Stock
Common Class A
Common Stock
Common Class B
Additional paid-in capital
Additional paid-in capital
Wordsworth
Additional paid-in capital
Glenn Willis
Additional paid-in capital
Series B Preferred stock
Accumulated other comprehensive loss
Accumulated deficit
Accumulated deficit
Series A Preferred Stock
Accumulated deficit
Series B Preferred stock
Noncontrolling Interests
Noncontrolling Interests
Wordsworth
Noncontrolling Interests
Glenn Willis
Noncontrolling Interests
Honda Jet
Beginning balance at Dec. 31, 2023 $ (35,525)                                                  
Temporary Equity                                                    
Issuance of Preferred stock       $ 20,540 $ 13,526                                          
Change in redemption value of redeemable noncontrolling interest 268,423                                                  
Dividends payable on Preferred temporary equity       (2,097) (1,233)                                          
Amortization of discount on temporary equity       1,162 314                                          
Net Income (loss) (73,384)                                                  
Ending balance at Dec. 31, 2024 159,514                                                  
Ending balance at Dec. 31, 2024       23,799 15,073                                          
Beginning balance (in shares) at Dec. 31, 2023                         16,647,529 59,930,000                        
Beginning balance at Dec. 31, 2023 70,855             $ 46,461         $ 2 $ 6 $ 126,978       $ (69) $ (80,456)     $ 24,394      
Permanent Equity                                                    
Contributions from non controlling interests 6,484                                           6,484      
Distributions to non controlling interests (20,889)                                           (20,889)      
Acquisitions of non controlling interests   $ (3,418)             $ (1,129) $ (855)           $ (1,129) $ (855)             $ 1,129 $ (2,563)  
Acquisitions of non controlling interests 3,205   $ 18,969         261             256         5     2,944     $ 18,969
Unrealized gains on available-for-sale debt securities 13             13                     13              
Issuance of stock (in shares)                         300,000                          
Accretion of Redeemable non controlling interest to redemption amount (268,424)             (268,424)             (141,000)         (127,424)            
Merger, net of redemptions and transaction costs 10,603                     $ 10,603           $ 10,603                
Stock issued upon exercise of warrants (in shares)                         974,610                          
Issuance of Class A common stock upon cashless exercise of warrants 4,337             4,337             4,337                      
Issuance of class A common stock upon conversion of bridge notes (in shares)                         277,447                          
Issuance of Class A common stock upon conversion of Bridge Notes 371             371             371                      
Stock-based compensation 753             753             753                      
Dividends payable on Preferred temporary equity       (2,097) (1,233)           $ (2,097) (1,233)                 $ (2,097) $ (1,233)        
Amortization of discount on temporary equity       (1,162) (314)           (1,162) (314)           $ 314     (1,162)          
Net Income (loss) (28,111)             (21,074)                       21,074     (7,037)      
Ending balance (in shares) at Dec. 31, 2024           18,199,586 59,930,000           18,199,586 59,930,000                        
Ending balance at Dec. 31, 2024 (210,058)             (233,489)         $ 2 $ 6         (56) (233,441)     23,431      
Temporary Equity                                                    
Issuance of Preferred stock         3,963                                          
Change in redemption value of redeemable noncontrolling interest 104,426                                                  
Accretion of Redeemable non controlling interest to redemption amount 104,426                                                  
Dividends payable on Preferred temporary equity       2,954 5,806                                          
Amortization of discount on temporary equity       1,212 458                                          
Dividends paid on Series B Preferred temporary equity         (1,000)                                          
Conversion of Series B Preferred Equity to Class A Common Stock         (24,300)                                          
Net Income (loss) (50,529)                                                  
Ending balance at Dec. 31, 2025 213,411                                                  
Ending balance at Dec. 31, 2025       27,965                                            
Permanent Equity                                                    
Contributions from non controlling interests 7,425                                           7,425      
Distributions to non controlling interests (30,758)                                           30,758      
Unrealized gains on available-for-sale debt securities 0                                                  
Realized losses on available-for-sale securities 56             56                     $ 56              
Issuance of Class A common stock pursuant to Securities Purchase Agreement (in shares)                         2,591,064                          
Issuance of Class A common stock pursuant to Securities Purchase Agreement 8,689             8,689             8,689                      
Accretion of Redeemable non controlling interest to redemption amount (104,426)             (104,426)             74,954         (179,380)            
Merger, net of redemptions and transaction costs         4,426     4,426             4,426                      
Stock-based compensation 4,480             4,480             4,480                      
Dividends payable on Preferred temporary equity       (2,954) (5,806)           (2,954) (5,806)                 (2,954) $ (5,806)        
Amortization of discount on temporary equity       $ (1,212) $ (458)           $ (1,212) $ (458)     (458)           $ (1,212)          
Conversion of Series B Preferred Equity to Class A Common Stock (in shares)                         10,394,088                          
Conversion of Series B Preferred Equity to Class A Common Stock 21,535             21,535         $ 1   21,534                      
Net Income (loss) (16,585)             (17,592)             1,007         (17,592)            
Ending balance (in shares) at Dec. 31, 2025           31,184,738 59,930,000           31,184,738 59,930,000                        
Ending balance at Dec. 31, 2025 $ (325,646)             $ (326,751)             $ 113,625         $ (440,385)     $ 1,105