OXBRIDGE ACQUISI(US:OXAC)2026-03-13 20:05Financial 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 totaled $9.77 million, down from $11.60 million in 2024, with general and administrative expenses decreasing significantly[12] - The company reported a basic net income per share of $1.52 for 2025, compared to a loss of $47.93 per share in 2024[12] Assets and Equity - 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 from $6.51 million[10] - 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] 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 expand its AI data center portfolio and joint ventures, leveraging a $250 million shelf facility for capital deployment[4] - The company expects to close the flyExclusive transaction by April 30, 2026, which is anticipated to enhance its growth in the AI compute sector[6] Joint Ventures - Jet.AI's investment in joint ventures increased to $865,000 in 2025 from $100,000 in 2024, indicating a strategic focus on collaborative growth[10]