Las Vegas, NV, March 17, 2026 (GLOBE NEWSWIRE) -- Jet.AI Inc. ("Jet.AI" or the "Company") (Nasdaq: JTAI), an emerging provider of high-performance GPU infrastructure and AI cloud services, announced today that its Board of Directors has approved a share repurchase program authorizing the Company to repurchase up to $5.0 million of its common stock. “With the Midwestern project now supported by a clear natural gas power supply pathway and the completion of all remaining Milestone 3 objectives announced yeste ...

Las Vegas, NV, March 16, 2026 (GLOBE NEWSWIRE) -- Jet.AI Inc. ("Jet.AI" or the "Company") (Nasdaq: JTAI), an emerging provider of high-performance GPU infrastructure and AI cloud services, and Consensus Core Technologies Inc. (“Consensus Core”), today announced the completion of the third set of milestones for the Midwestern and Maritime hyperscale data center campuses operated by their joint venture, Convergence Compute LLC (“Convergence Compute”). The completed milestones for the Midwestern campus include ...

Financial Performance - Jet.AI reported a net income of $4.6 million for the full year 2025, a significant improvement from a net loss of $12.7 million in 2024[2] - Revenues for 2025 were $9.18 million, down from $14.02 million in 2024, while the cost of revenues decreased from $14.99 million to $9.48 million[12] - Operating expenses for 2025 were $9.77 million, down from $11.60 million in 2024, with general and administrative expenses decreasing significantly[12] - Jet.AI's basic net income per share for 2025 was $1.52, a notable recovery from a loss of $47.93 per share in 2024[12] Financial Position - The company had approximately $13.7 million in cash and no debt as of March 5, 2026, compared to $1.8 million at the end of 2025[2] - Jet.AI's total assets increased to $25.68 million in 2025 from $10.80 million in 2024, with stockholders' equity rising to $21.98 million[10] - The company has a $250 million shelf facility, providing strong access to capital for future projects[2] Strategic Initiatives - The company completed the second milestone of its Canadian hyperscale data center project and is progressing towards the third milestone, focusing on energy access and grid feasibility[5] - Jet.AI plans to close the flyExclusive transaction by April 30, 2026, which is expected to enhance its growth in the AI compute sector[6] - The company is focusing on expanding its AI data center portfolio and pursuing joint ventures to capitalize on growth opportunities in AI computing[4]

Core Insights - Jet.AI Inc. reported a net income of $4.6 million for the full year 2025, a significant improvement from a net loss of $12.7 million in 2024, indicating a positive financial turnaround [1] - The company had approximately $13.7 million in cash and no debt as of March 5, 2026, compared to $1.8 million at the end of 2025, showcasing improved liquidity [1] - Jet.AI is focused on accelerating the development of its AI data center portfolio in 2026, having strategically invested in three major projects [3][4] Financial Performance - Revenues for the year ended December 31, 2025, were reported at $9.18 million, down from $14.02 million in 2024 [13] - The cost of revenues decreased to $9.48 million in 2025 from $14.99 million in 2024, resulting in a gross loss of $300,039 compared to a gross loss of $964,617 in the previous year [13] - Operating expenses totaled $9.77 million in 2025, down from $11.60 million in 2024, leading to an operating loss of $10.07 million, an improvement from a loss of $12.57 million in 2024 [13] Operational Developments - The company is nearing the completion of the third milestone of its Canadian hyperscale data center project, which focuses on validating energy access and grid feasibility [4] - Jet.AI is also progressing with its Moapa NV data center site, with ongoing power studies and pre-construction planning [4] - The transaction with flyExclusive is expected to close by April 30, 2026, which is anticipated to enhance Jet.AI's growth trajectory in the AI compute sector [5] Strategic Initiatives - Jet.AI has a $250 million shelf facility that provides strong access to capital, allowing for flexibility in deploying resources for growth [1] - The company has extended the outside date of its merger agreement with flyExclusive to April 30, 2026, to facilitate the transaction [7] - Jet.AI has announced plans for a joint venture to develop a 50-megawatt data center campus in Moapa, Nevada, and has provided details on its data center campus in Winnipeg, Manitoba [7]

Strategic Transformation - The company is executing a strategic transformation to become a pure-play AI data center infrastructure company, driven by significant growth in demand for high-performance computing infrastructure to support AI workloads [21]. - The strategy involves enhancing the AI functionality of Ava, CharterGPT, Reroute AI, and DynoFlight, while expanding the fleet of larger aircraft capable of longer distances [20]. Financial Risks and Performance - The company faces risks related to its ability to secure additional financing necessary for operations and expansion plans, which may affect its going concern status [17]. - The company has a history of operating losses, making future performance difficult to predict [17]. - The anticipated data center business is expected to have significant customer concentration, which poses additional risks [18]. - The company anticipates incurring substantial capital expenditures to grow its AI data center services business, which may impact financial performance [18]. - The stock price may be volatile, and the company may face delisting from Nasdaq if it fails to comply with continued listing requirements [18]. - The company has never paid cash dividends on its capital stock and does not anticipate doing so in the foreseeable future [18]. Competition and Market Landscape - There is a high level of competition in the AI data center sector, with many competitors possessing greater financial resources and operational expertise [18]. - The private air travel industry is highly competitive, with established companies like NetJets and FlexJet competing for passengers [74]. - The AI data center infrastructure market is capital-intensive and competitive, with established operators like Equinix and cloud service providers like AWS posing significant competition [78]. - The company faces competitive disadvantages due to its smaller fleet size and limited marketing alliances compared to larger competitors [76]. Mergers and Acquisitions - The company entered into a Merger Agreement with flyExclusive, which includes a pro rata distribution of SpinCo shares to stockholders and a merger where SpinCo will become a wholly owned subsidiary of flyExclusive [22]. - The Merger Agreement stipulates that 80% of the merger consideration shares will be issued at closing, with 20% held in reserve until the final purchase price is determined [23]. - The proposed merger and related transactions may not be completed as planned, potentially affecting the company's business strategy and financial position [17]. Joint Ventures and Projects - The company has committed to contribute up to $20 million to a joint venture for developing data centers, with an initial contribution of $300,000 for a 0.5% equity interest [27]. - The Midwest Project aims to develop a data center campus with existing infrastructure capable of supporting a 15 MW load, with a small proof-of-concept data center already installed [30][31]. - The Maritime Project is expected to scale to 100 megawatts in the near term and exceed 1 gigawatt in the long term, positioning it as a major hub for hyperscale data center operations [33]. - A planned joint venture for a 50-megawatt data center in Moapa, Nevada, is expected to involve a commitment of approximately $10 million over two years [34]. - The joint venture for AI infrastructure aims to develop two hyperscale data center campuses with a combined power capacity target of approximately 1.5 gigawatts [48]. Technology and Product Development - The company launched the CharterGPT booking platform in 2023, which automates charter bookings and connects to a centralized database for private aircraft [41][42]. - The agentic AI model "Ava" was launched in late 2024, allowing customers to book private jets via a toll-free number or SMS, enhancing the booking experience [45]. - Jet.AI launched Reroute AI in 2024, enabling FAA Part 135 operators to earn revenue on empty flight legs through a web-based platform [46]. - DynoFlight API was launched at the end of 2023, allowing small to medium-sized operators to track emissions and purchase carbon offset credits, with integration planned with FL3XX [47]. - Jet.AI operates CharterGPT, an enhanced booking app released in 2023, designed to automate charter bookings and improve customer experience [58]. Regulatory and Compliance Issues - The company received a Nasdaq notification regarding non-compliance with the Minimum Bid Price Requirement, with a 180-day period to regain compliance [35]. - A reverse stock split may be executed if compliance is not regained, with a ratio of up to 1-for-250 approved by stockholders [36]. - Regulatory compliance is critical, with oversight from the FAA, DOT, and other agencies affecting operations and potential penalties for non-compliance [81][82][83]. Employee and Operational Structure - As of March 6, 2026, the company has nine employees, including key executive positions [80]. - Cirrus provides management services for the aircraft, including flight crew services, flight operation services, and aircraft maintenance services [71].

Core Viewpoint - Jet.AI Inc. has adopted a limited duration stockholders rights agreement to protect stockholders in the event of a takeover and ensure fair treatment for all stockholders [1][6] Group 1: Rights Agreement Details - The rights agreement includes a dividend distribution of one preferred share purchase right for each outstanding share of common stock [1][6] - The rights become exercisable if a person or group acquires 10% or more of the Company's outstanding common stock, allowing stockholders to buy one one-thousandth of a share of a new series of junior participating preferred stock [2][3] - If a person or group acquires 10% or more of the Company's common stock, each right allows the holder to purchase common shares with a market value of twice the price [3] - The rights are redeemable for one cent per right at the option of the Board before any acquisition of 10% ownership [4] Group 2: Implementation and Expiration - The dividend distribution will occur on February 24, 2026, and is not taxable to stockholders [6] - The rights will expire on February 12, 2027, unless redeemed or exchanged earlier [6] Group 3: Company Overview - Jet.AI Inc. focuses on deploying artificial intelligence tools and infrastructure to enhance decision-making and performance across complex systems [7]

Core Viewpoint - Jet.AI Inc. has made significant updates regarding its capital structure and financing arrangements in connection with a merger agreement with flyExclusive, indicating improved financial stability and strategic flexibility for future opportunities [1][2][4]. Group 1: Capital Structure and Financing - The newly executed amendment to the merger agreement eliminates the requirement for Jet.AI to secure a $50 million financing arrangement with a third-party investor, as the company has sufficient positive net working capital to meet the minimum cash closing condition [2][3]. - Jet.AI confirmed that it no longer has any preferred stock outstanding, further strengthening its capital position [2]. Group 2: Strategic Flexibility - The amendment allows Jet.AI to pursue additional merger and acquisition opportunities, provided these transactions are conditioned upon the completion of the merger with flyExclusive [4]. - The proposed transaction with flyExclusive remains subject to customary closing conditions, and there is no assurance that it will be completed as currently contemplated [5].

Core Insights - Jet.AI Inc. is focused on high-performance GPU infrastructure and AI cloud services, with significant operational developments and strategic priorities for 2026 [1][40] - The company has approximately $9 million in cash and no debt, providing a stable platform for future projects [2] - Jet.AI is in the final stages of selling its aviation business to flyExclusive, which will result in shareholders owning two distinct securities: JTAI and FLYX [4][5] Financial Position - The company has a cash balance of approximately $9 million and no debt, allowing for operational flexibility [2] - The sale of the aviation business is expected to provide significant value, with an estimated $13.4 million return for shareholders based on the recent share price of flyExclusive [8] Strategic Projects - Jet.AI is investing in three data center projects in Manitoba and the Canadian Maritimes, with a potential total value of $300 million if all projects reach the powered-land stage [12][23] - The Manitoba project has a development potential of multi-hundred megawatts, with an implied value of $100 to $200 million for Jet.AI's 17.5% GP stake [30][27] - The Maritimes project is expected to support approximately 500 megawatts of capacity, with an implied value of approximately $88 million for Jet.AI's GP equity stake [35] Investment in AIIA - Jet.AI owns 49.5% of the sponsor entity of AI Infrastructure Acquisition Corp. (AIIA), representing its largest asset on a mark-to-market basis [9] - AIIA currently holds approximately $138 million in trust and has about fifteen months to complete a transaction [10] Future Financing and Growth - The company plans to pursue external financing through various tools, including a $50 million facility and a $250 million shelf registration [21] - The rapid expansion of the data center industry is reflected in public-market pricing, with significant valuations for hyperscale data center operators [22] Closing Remarks - The company emphasizes the importance of aligning with the growing demand for computing infrastructure and technological advancements in AI [39]

Core Viewpoint - Jet.AI Inc. has announced an extension of the merger agreement with flyExclusive to April 30, 2026, with the closing expected in the first quarter of 2026 [1] Group 1: Company Overview - Jet.AI Inc. is a technology-driven company focused on deploying artificial intelligence tools and infrastructure to enhance decision-making, efficiency, and performance across complex systems [2] - The company is listed on the NASDAQ Capital Market under the ticker symbol "JTAI" [2] Group 2: Merger Details - The merger agreement between Jet.AI and flyExclusive was originally dated May 6, 2025, and has been amended [3] - flyExclusive has filed a Registration Statement on Form S-4 to register shares of its common stock that will be issued in connection with the proposed transactions [3] Group 3: Statements from Executives - Jet.AI's Founder and Executive Chairman, Mike Winston, expressed excitement and commitment to the merger deal [2] - flyExclusive's Founder and CEO, Jim Segrave, also stated their enthusiastic commitment to the deal [2]

Group 1: Company Performance - Gelteq Ltd (NASDAQ:GELS) shares rose sharply by 50.1% to $1.25 in pre-market trading after reporting positive preclinical results for its cannabinoid oral gel delivery platform [1][2] - The proprietary oral gel platform achieved a greater than 22% increase in the bioavailability of cannabidiol compared to an existing FDA-approved oil-based product [1] Group 2: Other Notable Stock Movements - Inspire Veterinary Partners Inc (NASDAQ:IVP) gained 141.3% to $0.056 after filing a Certificate of Amendment to increase its authorized Class A common stock from 100 million to 700 million shares [5] - Oriental Culture Holding Ltd (NASDAQ:OCG) rose 40.8% to $0.016 following the board's approval of a special cash dividend of 5 cents per share [5] - XCF Global Inc (NASDAQ:SAFX) gained 30.2% to $0.22 after announcing expansion financing plans [5] - AiRWA Inc (NASDAQ:YYAI) rose 15.8% to $1.46 after a director purchased 1.109 million shares at an average price of $1.35 per share [5] - Autolus Therapeutics PLC (NASDAQ:AUTL) gained 7.3% to $1.47 after announcing preliminary fourth-quarter and FY25 revenue results [5] Group 3: Declining Stocks - Briacell Therapeutics Corp (NASDAQ:BCTX) fell 53.1% to $5.12 after announcing the pricing of a $30 million public offering [5] - Moolec Science SA (NASDAQ:MLEC) fell 19.8% to $3.94 after a previous jump of 19% [5] - Hub Cyber Security Ltd (NASDAQ:HUBC) fell 19.1% to $0.43 after gaining 56% on the previous day [5] - Trip.com Group Ltd (NASDAQ:TCOM) dipped 9.3% to $68.55 amid an investigation by China's SAMR for potential anti-monopoly violations [5]