v3.26.1
Condensed Consolidated Statements of Shareholders' Equity (Deficit) / Members' Equity (Deficit) and Temporary Equity (Unaudited) - USD ($)
$ in Thousands
Total
Series A Preferred Stock
Series B Preferred stock
Class A Common stock
Class B Common stock
Total flyExclusive stockholders’ equity (deficit)
Total flyExclusive stockholders’ equity (deficit)
Series A Preferred Stock
Total flyExclusive stockholders’ equity (deficit)
Series B Preferred stock
Common Stock
Class A Common stock
Common Stock
Class B Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Accumulated deficit
Accumulated deficit
Series A Preferred Stock
Accumulated deficit
Series B Preferred stock
Noncontrolling Interests
Beginning balance at Dec. 31, 2024 $ 159,514                              
Temporary equity, beginning balance at Dec. 31, 2024   $ 23,799 $ 15,073                          
Temporary Equity                                
Temporary equity, issuance of stock     3,963                          
Accretion of Redeemable non controlling interest to redemption amount (revised) 50,068                              
Dividends payable on temporary equity   662 992                          
Amortization of discount on temporary equity   345 190                          
Net Income (loss) (17,558)                              
Ending balance at Mar. 31, 2025 192,024                              
Temporary equity, ending balance at Mar. 31, 2025   24,806 20,218                          
Beginning balance (in shares) at Dec. 31, 2024                 18,199,586 59,930,000            
Beginning balance at Dec. 31, 2024 (210,058)         $ (233,489)     $ 2 $ 6   $ (56) $ (233,441)     $ 23,431
Permanent Equity                                
Contributions from non controlling interests 71                             71
Distributions to non controlling interests (9,636)                             (9,636)
Unrealized gains on available-for-sale securities 54         54           54        
Issuance of Class A common stock pursuant to Securities Purchase Agreement (in shares)                 2,000,000              
Issuance of Class A common stock pursuant to Securities Purchase Agreement 5,800         5,800         $ 5,800          
Issuance of stock 4,426         4,426         4,426          
Accretion of Redeemable non controlling interest to redemption amount (50,068)         (50,068)         (11,100)   (38,968)      
Dividends payable on temporary equity   (662) (992)       $ (662) $ (992)           $ (662) $ (992)  
Amortization of discount on temporary equity   (345)         (345)             (345)    
Amortization of discount on temporary equity (190)         (190)         (190)          
Stock based compensation 1,064         1,064         1,064          
Net Income (loss) (5,489)         (5,449)             (5,449)     (40)
Ending balance (in shares) at Mar. 31, 2025                 20,199,586 59,930,000            
Ending balance at Mar. 31, 2025 (266,025)         (279,851)     $ 2 $ 6   (2) (279,857)     13,826
Beginning balance at Dec. 31, 2024 159,514                              
Temporary equity, beginning balance at Dec. 31, 2024   23,799 15,073                          
Ending balance at Jun. 30, 2025 155,122                              
Temporary equity, ending balance at Jun. 30, 2025   25,838 21,351                          
Beginning balance (in shares) at Dec. 31, 2024                 18,199,586 59,930,000            
Beginning balance at Dec. 31, 2024 (210,058)         (233,489)     $ 2 $ 6   (56) (233,441)     23,431
Permanent Equity                                
Unrealized gains on available-for-sale securities 56                              
Ending balance (in shares) at Jun. 30, 2025                 20,199,586 59,930,000            
Ending balance at Jun. 30, 2025 (254,904)         (261,351)     $ 2 $ 6 25,599   (286,958)     6,447
Beginning balance at Mar. 31, 2025 192,024                              
Temporary equity, beginning balance at Mar. 31, 2025   24,806 20,218                          
Temporary Equity                                
Accretion of Redeemable non controlling interest to redemption amount (revised) (24,839)                              
Dividends payable on temporary equity   758 1,305                          
Dividends paid on Series B Preferred temporary equity     (360)                          
Amortization of discount on temporary equity   274 188                          
Net Income (loss) (12,063)                              
Ending balance at Jun. 30, 2025 155,122                              
Temporary equity, ending balance at Jun. 30, 2025   25,838 21,351                          
Beginning balance (in shares) at Mar. 31, 2025                 20,199,586 59,930,000            
Beginning balance at Mar. 31, 2025 (266,025)         (279,851)     $ 2 $ 6   (2) (279,857)     13,826
Permanent Equity                                
Contributions from non controlling interests 1,354                             1,354
Distributions to non controlling interests (9,431)                             (9,431)
Unrealized gains on available-for-sale securities 2         2           2        
Accretion of Redeemable non controlling interest to redemption amount 24,839         24,839         24,839          
Dividends payable on temporary equity   (758) $ (1,305)       (758) $ (1,305)           (758) $ (1,305)  
Amortization of discount on temporary equity   (274)         (274)             (274)    
Amortization of discount on temporary equity (188)         (188)         (188)          
Stock based compensation 948         948         948          
Net Income (loss) (4,066)         (4,764)             (4,764)     698
Ending balance (in shares) at Jun. 30, 2025                 20,199,586 59,930,000            
Ending balance at Jun. 30, 2025 (254,904)         (261,351)     $ 2 $ 6 25,599   (286,958)     6,447
Beginning balance at Dec. 31, 2025 213,411                              
Temporary equity, beginning balance at Dec. 31, 2025   27,965                            
Temporary Equity                                
Accretion of Redeemable non controlling interest to redemption amount (revised) (58,224)                              
Dividends payable on temporary equity   1,155                            
Amortization of discount on temporary equity   274                            
Redemption of class B common stock for class A common stock (34,595)                              
Net Income (loss) (7,899)                              
Ending balance at Mar. 31, 2026 112,693                              
Temporary equity, ending balance at Mar. 31, 2026   29,394                            
Beginning balance (in shares) at Dec. 31, 2025       31,184,738 59,930,000       31,184,738 59,930,000            
Beginning balance at Dec. 31, 2025 (325,646)         (326,751)     $ 3 $ 6 113,625   (440,385)     1,105
Permanent Equity                                
Contributions from non controlling interests 7,315                             7,315
Distributions to non controlling interests (2,272)                             (2,272)
Unrealized gains on available-for-sale securities 3         3           3        
Issuance of Class A common stock pursuant to Securities Purchase Agreement (in shares)                 4,007,022              
Issuance of Class A common stock pursuant to Securities Purchase Agreement 18,454         18,454     $ 1   18,453          
Accretion of Redeemable non controlling interest to redemption amount 58,224         58,224         58,224          
Dividends payable on temporary equity   (1,155)         (1,155)             (1,155)    
Amortization of discount on temporary equity   (274)         (274)             (274)    
Redemption of class B common stock for class A common stock, shares                 10,000,000 (10,000,000)            
Redemption of class B common stock for class a common stock 34,595         34,595     $ 1 $ (1) 34,595          
Stock based compensation 1,631         1,631         1,631          
Net Income (loss) (5,473)         (6,503)             (6,503)     1,030
Ending balance (in shares) at Mar. 31, 2026                 45,191,760 49,930,000            
Ending balance at Mar. 31, 2026 (214,598)         (221,776)     $ 5 $ 5 226,528 3 (448,317)     7,178
Beginning balance at Dec. 31, 2025 213,411                              
Temporary equity, beginning balance at Dec. 31, 2025   27,965                            
Temporary Equity                                
Amortization of discount on temporary equity   471                            
Redemption of class B common stock for class A common stock (34,595)                              
Ending balance at Jun. 30, 2026 102,058                              
Temporary equity, ending balance at Jun. 30, 2026   30,685                            
Beginning balance (in shares) at Dec. 31, 2025       31,184,738 59,930,000       31,184,738 59,930,000            
Beginning balance at Dec. 31, 2025 (325,646)         (326,751)     $ 3 $ 6 113,625   (440,385)     1,105
Permanent Equity                                
Unrealized gains on available-for-sale securities $ 0                              
Redemption of class B common stock for class A common stock, shares       10,000,000                        
Ending balance (in shares) at Jun. 30, 2026 49,930,000     46,474,856 49,930,000       46,474,856 49,930,000            
Ending balance at Jun. 30, 2026 $ (216,080)         (220,038)     $ 5 $ 5 236,936   (456,984)     3,958
Beginning balance at Mar. 31, 2026 112,693                              
Temporary equity, beginning balance at Mar. 31, 2026   29,394                            
Temporary Equity                                
Accretion of Redeemable non controlling interest to redemption amount (revised) (5,134)                              
Dividends payable on temporary equity   1,094                            
Amortization of discount on temporary equity   197                            
Net Income (loss) (5,501)                              
Ending balance at Jun. 30, 2026 102,058                              
Temporary equity, ending balance at Jun. 30, 2026   30,685                            
Beginning balance (in shares) at Mar. 31, 2026                 45,191,760 49,930,000            
Beginning balance at Mar. 31, 2026 (214,598)         (221,776)     $ 5 $ 5 226,528 3 (448,317)     7,178
Permanent Equity                                
Contributions from non controlling interests 103                             103
Distributions to non controlling interests (4,736)                             (4,736)
Reclassification adjustment for realized gains on available-for-sale securities (3)         (3)           $ (3)        
Unrealized gains on available-for-sale securities 0                              
Issuance of Class A common stock pursuant to Securities Purchase Agreement (in shares)                 1,283,096              
Issuance of Class A common stock pursuant to Securities Purchase Agreement 3,622         3,622         3,622          
Accretion of Redeemable non controlling interest to redemption amount 5,134         5,134         5,134          
Dividends payable on temporary equity   (1,094)         (1,094)             (1,094)    
Amortization of discount on temporary equity   $ (197)         $ (197)             $ (197)    
Stock based compensation 1,652         1,652         1,652          
Net Income (loss) $ (5,963)         (7,376)             (7,376)     1,413
Ending balance (in shares) at Jun. 30, 2026 49,930,000     46,474,856 49,930,000       46,474,856 49,930,000            
Ending balance at Jun. 30, 2026 $ (216,080)         $ (220,038)     $ 5 $ 5 $ 236,936   $ (456,984)     $ 3,958