Core Viewpoint - Jet.AI reported a decline in revenues for the second quarter of 2025, primarily due to reduced charter and jet card revenues as clients anticipated the sale of its aviation business to flyExclusive, despite an increase in software application revenue [3][4][5]. Financial Results Summary Second Quarter 2025 - Revenues were $2.2 million, down from $3.1 million in the same period last year, reflecting a decrease in Cirrus Charter and Jet Card revenue [3]. - Software App and Cirrus Charter revenue was $1.3 million compared to $1.6 million in the same period last year [4]. - Management and Other Services revenue totaled $533,000, down from $914,000 year-over-year [4]. - Jet Card and Fractional Programs revenue was $421,000, compared to $559,000 in the same period last year [5]. - Cost of revenues decreased to $2.3 million from $3.5 million, attributed to reduced charter flight activity [5]. - Gross loss was approximately $110,000, improved from a loss of $417,000 in the same period last year [6]. - Operating expenses totaled $2.4 million, down from $2.8 million, mainly due to lower general and administrative and sales and marketing expenses [6]. - Operating loss was approximately $2.5 million, compared to a loss of $3.2 million in the same period last year [7]. - As of June 30, 2025, cash and cash equivalents were approximately $8.3 million [7]. Six Months 2025 - Revenues for the six months ended June 30, 2025, were $5.7 million, down from $6.9 million in the same period last year [8]. - Software App and Cirrus Charter revenue for the six months was $3.1 million, compared to $4.0 million in the same period last year [8]. - Management and Other Services revenue totaled $1.8 million, slightly up from $1.7 million year-over-year [10]. - Jet Card and Fractional Programs revenue was $765,000, down from $1.2 million in the same period last year [10]. - Cost of revenues for the six months totaled $5.9 million, down from $7.5 million, due to decreased payments for aircraft management and operations [11]. - Gross loss for the six months was approximately $226,000, improved from $541,000 in the same period last year [12]. - Operating expenses totaled $5.4 million, down from $5.8 million, primarily due to lower general and administrative expenses [13]. - Operating loss for the six months was approximately $5.7 million, compared to a loss of $6.4 million in the same period last year [14]. Operational Highlights - The company announced a capital contribution to AIIA Sponsor Ltd., which is associated with a SPAC focusing on AI and data center opportunities [9]. - A joint venture with Consensus Core Technologies Inc. was formed to develop two hyperscale data-center campuses in Canada [9]. - The transaction with flyExclusive is on track to close by October 31, 2025 [9][16]. Company Overview - Jet.AI, founded in 2018, is transitioning to a pure-play AI data center company, leveraging expertise in data center development and AI technologies [17].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number: 001-40725 Jet.AI Inc. (Exact Name of Registrant As Specified In Its Charter) Delaware 93-2971741 (State or other jurisdiction ...

Core Viewpoint - Jet.AI Inc. has made a capital contribution to AIIA Sponsor Ltd., which is sponsoring AI Infrastructure Acquisition Corp., a special purpose acquisition company aiming for an initial public offering (IPO) focused on AI and machine learning technology companies [1][2]. Group 1: Company Overview - Jet.AI Inc. is a provider of high-performance GPU infrastructure and AI cloud services, transitioning to a pure-play AI data center company [5]. - The company was founded in 2018 and is based in Las Vegas, NV, operating in two segments: Software and Aviation [5]. - Jet.AI aims to build scalable, high-performance infrastructure to meet the growing computational demands of artificial intelligence [5]. Group 2: IPO Details - AI Infrastructure Acquisition Corp. plans to conduct an IPO with a base offering size of $100 million, potentially increasing to $115 million if the underwriters fully exercise their over-allotment option [2]. - The IPO will focus on high-impact private technology companies that advance AI and machine learning capabilities, as well as those involved in next-generation data center infrastructure [2]. - Maxim Group LLC is acting as the sole book-running manager for the IPO [3].

Core Insights - Jet.AI Inc. and Consensus Core Technologies Inc. have entered into a definitive agreement to develop a phased hyperscale data center campus in Midwestern Canada, addressing critical infrastructure shortages in the AI market [1][2] - The project aims to utilize Canada's low-cost energy resources, leveraging proximity to major natural gas pipelines and electrical transmission lines to meet the growing demand for AI infrastructure [2][3] Project Details - The Midwestern Project will have an initial capacity of 500 megawatts (MW), with plans to achieve the first 100 MW through defined milestones [3] - Jet.AI will invest up to $20 million in the joint venture, receiving a 17.5% equity promote upfront and additional equity interests tied to specific project milestones [4] Milestones and Contributions - The project includes five key milestones, with initial contributions starting at $300,000 and increasing to $12 million for the final milestone [4][5] - Milestones involve various stages such as signing agreements, environmental permits, and securing power supply agreements [6] Strategic Partnership - The partnership with Consensus Core enhances the project through their expertise in GPU infrastructure and AI cloud services, positioning the project to meet next-generation computing demands [7][8] - Consensus Core's leadership team has extensive experience in building data center infrastructure and managing large-scale operations, which is crucial for the project's success [9][10] Company Background - Jet.AI, founded in 2018, is transitioning to a pure-play AI data center company, focusing on scalable, high-performance infrastructure to support AI computational demands [11] - Consensus Core specializes in high-performance GPU infrastructure and is an NVIDIA Certified Cloud Partner, with a strong track record in data center projects exceeding $10 billion [12][13]

LAS VEGAS, May 15, 2025 (GLOBE NEWSWIRE) -- Jet.AI Inc. (the “Company”) (Nasdaq: JTAI), a pure-play artificial intelligence (“AI”) data center company operating aviation-specific AI software, today announced financial results for the first quarter ended March 31, 2025. Recent Operational Highlights Signed Letter of Intent (“LOI”) to form a joint venture with Consensus Core Technologies Inc. (“Consensus Core”) to pursue the development of two hyperscale data-center campuses in Midwestern Canada and Maritime ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number: 001-40725 Jet.AI Inc. (Exact Name of Registrant As Specified In Its Charter) Delaware 93-2971741 (State or other jurisdictio ...

LAS VEGAS, March 27, 2025 (GLOBE NEWSWIRE) -- Jet.AI Inc. (the “Company”) (Nasdaq: JTAI), a pure-play artificial intelligence (“AI”) data center company operating aviation-specific AI software, today announced financial results for the full year ended December 31, 2024. As of March 25th, 2025, the Company had a cash balance of $12.5 million and no debt. In addition, it held $4.2 million in aircraft-related deposits. Together, these amounts - totaling $16.7 million - are expected to be sufficient to satisfy ...

Financial Performance and Compliance - The company's stockholders' deficit as of December 31, 2023, was $(3,963,039), indicating a significant financial challenge[26] - The company received a notification from Nasdaq on December 1, 2023, regarding non-compliance with the minimum stockholders' equity requirement of $10 million[26] - The minimum bid price of the company's common stock was below $1.00 for 30 consecutive business days, leading to a second notification from Nasdaq[27] - The Company received a notification from Nasdaq on May 30, 2024, indicating non-compliance with the Minimum Stockholders' Equity Requirement, leading to a hearing request to appeal the delisting notice[29] - A reverse stock split at a ratio of 225-for-1 was executed on November 12, 2024, resulting in regained compliance with both the Minimum Stockholders' Equity Requirement and Minimum Bid Price Requirement as of November 26, 2024[30] - The Company is subject to a Mandatory Panel Monitor for one year starting November 26, 2024, which could lead to delisting if non-compliance recurs[30] - The company's stockholders' deficit as of December 31, 2023, was $(3,963,039), falling below the $10 million minimum required for continued listing on Nasdaq[26] AI and Technology Initiatives - The company launched two AI-enhanced booking apps, CharterGPT and Ava, in 2023 and 2024, respectively, to improve its service offerings[23] - The company is focusing on enhancing the AI functionality of its platforms, including CharterGPT and Ava, as part of its growth strategy[25] - The company has established a B2B software platform, Jet.AI Operator Platform, to provide SaaS products to aircraft owners and operators[24] - The company launched the CharterGPT app in 2023, automating charter bookings and enhancing user experience through an API connection with Avinode[43] - The AI model "Ava" was launched in late 2024, allowing customers to book private jets via a toll-free number or SMS, providing real-time availability and pricing[44] - Reroute AI was launched in 2024, enabling FAA Part 135 operators to earn revenue on empty flight legs through a web-based platform[45] - DynoFlight, launched at the end of 2023, allows operators to track emissions and purchase carbon offset credits, with integration plans with FL3XX announced in February 2024[46] - The Flight Club API enables FAA Part 135 operators to sell private jet services by the seat, automating ticketing and compliance processes[47] - The company aims to enhance the AI functionality of its existing platforms, including Reroute AI and DynoFlight[25] - The company is developing AI-powered features for CharterGPT, including Predictive Destination Optimization, which utilizes historical traffic patterns and traveler preferences to recommend optimal private airports[59] - CharterGPT will analyze historical pricing data to predict the best departure date for the lowest charter flight prices, considering approximately 35 blackout days annually[60] Strategic Transactions and Business Focus - The company is exploring strategic transactions, including a potential merger, to maximize stakeholder value[16] - The Company entered into a Merger Agreement with flyExclusive on February 13, 2025, involving the distribution of shares of SpinCo to stockholders and the merger of SpinCo into flyExclusive[33] - Following the Transactions, the Company will cease operations in the fractional and jet card business and focus on AI sector opportunities[35] - The company plans to divest substantially all of its fractional and jet card business and related assets in a proposed transaction with flyExclusive[33] - Following the proposed transaction, the company will focus on expanding its AI operations and developing new services and platforms[35] Market Competition and Industry Landscape - The company faces significant competition in the aviation industry, which may impact its market position and financial performance[19] - The private air travel industry is highly competitive, with established players like NetJets, FlexJet, and WheelsUp competing for passengers through various pricing plans and services[75] - Competitors have larger fleets and greater financial resources, allowing them to respond quickly to market changes, which poses a disadvantage for the company[77] - In 2018 and 2019, VistaJet acquired XOJET and JetSmarter, indicating increased consolidation in the industry that could intensify competition[78] - The competitive landscape includes established players like NetJets and FlexJet, with significant consolidation in the industry potentially intensifying competition[75][78] Operational and Regulatory Environment - The company is subject to strict regulations from the DOT and FAA, which govern air transportation and safety standards[82][84] - The company’s operations are influenced by a highly regulated environment, which includes compliance with TSA mandates for passenger screening[86] - The company’s financial performance and market opportunities are subject to numerous risks and uncertainties, including economic downturns and regulatory changes[16] Marketing and Customer Focus - The company is focused on high-net-worth individuals for marketing, utilizing online, television, and event marketing strategies to expand its reach[63] - The company believes that combining private jet on-demand services with commercial airline availability will provide optimum flexibility and cost efficiency for clients[65] - The company estimates that 30 days per year are extremely difficult for private flying without guaranteed access, highlighting the importance of its jet membership program[70] Fleet and Aircraft Management - The company aims to expand its fleet with larger aircraft capable of longer distances as part of its historical strategy[25] - The company plans to gradually expand its fleet with larger light jets and super-mid-size aircraft, having entered into a purchase agreement for three Citation CJ4 Gen 2 aircraft, expected for delivery in 2026[50] - The company’s aircraft fleet consists of five aircraft, including three HondaJet Elites and one Citation CJ4 Gen 2, with a focus on cost efficiency and spacious interiors[66] - Cirrus, the largest private jet charter company in Las Vegas, provides management services for the company's aircraft, ensuring compliance with FAA regulations[72] - The company has entered into agreements with Cirrus for Executive Aircraft Management and Charter Services, leveraging Cirrus's 40 years of experience in managing and operating aircraft[71][72]

Core Insights - Jet.AI Inc. has made significant operational advancements and strategic adjustments, focusing on enhancing shareholder value through a proposed all-stock transaction with flyExclusive [1][2][3] Group 1: Strategic Developments - Jet.AI signed a strategic agreement to sell its aviation assets to flyExclusive in an all-stock deal, allowing shareholders to retain Jet.AI stock and receive new shares in flyExclusive [2][3] - The decision to sell to flyExclusive is based on the potential for shareholders to benefit from the competitive landscape of flyExclusive and the growth in artificial intelligence [3][5] - Jet.AI aims to grow in the fractional aviation market, initially focusing on the super-light category before moving to the super-mid category, which involves higher-value aircraft [4] Group 2: AI and Infrastructure - Jet.AI has launched several AI-driven initiatives, including Ava, CharterGPT, Reroute AI, and DynoFlight AI, to enhance private aviation services [6] - The company acknowledges challenges in AI infrastructure, particularly the need for reliable computational resources to support its AI applications [7][8] - The demand for AI data centers is expected to grow significantly, with projections indicating that data centers could consume 4% of global electricity by 2030 [8][9] Group 3: Financial Insights - Building data centers is capital-intensive, costing approximately $10 million per megawatt, with each megawatt generating around $1 million in Net Operating Income (NOI), resulting in a 10% yield on construction costs [12][15] - The market typically values data center assets at a 6% capitalization rate, translating to significant potential valuations for constructed facilities [13] - Jet.AI plans to develop a 50-megawatt data center project as part of a larger campus, with the potential for phased construction to reach a full gigawatt of capacity [17] Group 4: Market Position and Future Outlook - Jet.AI is positioned to attract both hyperscalers and specialized tenants needing secure AI compute environments, as companies increasingly seek dedicated resources for proprietary data [18] - The company emphasizes that investments in AI data centers will strengthen its operational capabilities and create long-term shareholder value [19] - Jet.AI's trajectory indicates a focus on careful growth and a long-term perspective in the evolving AI landscape [22]

Core Viewpoint - Monteverde & Associates PC is investigating Jet.AI Inc. regarding its proposed merger with flyExclusive Inc., where Jet.AI shareholders will retain their stock and receive new Class A common shares in flyExclusive as part of the transaction [1]. Group 1: Company Overview - Monteverde & Associates PC is recognized as a Top 50 Firm by ISS Securities Class Action Services Report and has recovered millions of dollars for shareholders [1]. - The firm is headquartered in the Empire State Building in New York City and specializes in class action securities litigation [2]. Group 2: Legal Actions - The firm is actively investigating the merger between Jet.AI Inc. and flyExclusive Inc. to ensure shareholder interests are protected [1]. - Monteverde & Associates PC has a successful track record in trial and appellate courts, including the U.S. Supreme Court [2].