v3.26.3
REVENUE RECOGNITION
 9 Months Ended
Sep. 30, 2026
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
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 (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
  2026202520262025
Services transferred at a point in time:
Flights, net of discounts and incentives$143,898 $155,169 $445,145 $461,067 
Other16,919 23,469 55,164 66,080 
Services transferred over time:
Memberships3,970 6,313 15,399 22,976 
Other— 535 — 2,530 
Total Revenue$164,787 $185,486 $515,708 $552,653 
Contract Balances
Accounts receivable, net consisted of the following (in thousands):
September 30, 2026December 31, 2025
Gross receivables from members and customers$37,299 $30,960 
Undeposited funds1,179 1,336 
Less: Allowance for credit losses(8,355)(8,047)
Accounts receivable, net$30,123 $24,249 
Deferred revenue consisted of the following (in thousands):
September 30, 2026December 31, 2025
Flights - prepaid
$587,934 $726,506 
Memberships - annual dues
3,469 10,328 
Flights - credits
$— 2,018 
Other
3,803 — 
Deferred revenue - total
$595,206 $738,852 
Changes in Deferred revenue for the nine months ended September 30, 2026 were as follows (in thousands):
Deferred revenue as of December 31, 2025
$738,852 
   Amounts deferred during the period
372,062 
   Revenue recognized from amounts included in the deferred revenue beginning balance
(364,447)
   Revenue from current period sales
(151,261)
Deferred revenue as of September 30, 2026
$595,206 
Revenue expected to be recognized in future periods for performance obligations that are unsatisfied, or partially unsatisfied, as of September 30, 2026 were as follows (in thousands):
Remainder of 2026
$77,453 
2027
338,529 
2028
89,612 
2029
89,612 
Total Deferred revenue$595,206 
Costs to Obtain a Contract
Capitalized costs related to sales commissions were $1.9 million and $6.1 million for the three and nine months ended September 30, 2026, respectively, and $1.7 million and $5.5 million for the three and nine months ended September 30, 2025, respectively.
As of September 30, 2026 and December 31, 2025, capitalized sales commissions and referral fees of $4.4 million and $4.8 million, respectively, were included in Other current assets. Amortization expense related to capitalized sales commissions and referral fees included in sales and marketing expense in the condensed consolidated statements of operations was $2.4 million and $6.8 million for the three and nine months ended September 30, 2026, respectively, and $2.2 million and $6.9 million for the three and nine months ended September 30, 2025, respectively.