v3.26.1
Revenue
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue
7.
Revenue

Disaggregation of Revenue

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 June 30,

 

 

Six Months Ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Services transferred at a point in time:

 

 

 

 

 

 

 

 

 

 

 

 

Flights

 

$

104,205

 

 

$

85,770

 

 

$

196,442

 

 

$

168,516

 

Aircraft Management Services

 

 

260

 

 

 

552

 

 

 

595

 

 

 

1,317

 

Services transferred over time:

 

 

 

 

 

 

 

 

 

 

 

 

Memberships

 

 

(540

)

 

 

266

 

 

 

(656

)

 

 

1,323

 

MRO

 

 

4,366

 

 

 

2,872

 

 

 

6,374

 

 

 

4,633

 

Fractional ownership purchase price

 

 

2,833

 

 

 

1,872

 

 

 

4,719

 

 

 

3,668

 

 

$

111,124

 

 

$

91,332

 

 

$

207,474

 

 

$

179,457

 

Transaction Price

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

•
Jet Club 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 provides a rollforward of deferred revenue for the six months ended June 30, 2026 and 2025:

 

 

 

 

 

 

2026

 

 

2025

 

Balance as of January 1

 

$

162,319

 

 

$

149,517

 

Revenue recognized

 

 

(165,484

)

 

 

(160,006

)

Revenue deferred

 

 

163,013

 

 

 

154,852

 

Balance as of June 30

 

$

159,848

 

 

$

144,363