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].

Surf Air Mobility (SRFM) Q2 2025 Earnings Call August 12, 2025 05:00 PM ET Speaker0Thank you for standing by. My name is Kate, and I will be your conference operator today. At this time, I would like to welcome everyone to Surf Air Mobility Second Quarter twenty twenty five Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session.Thank you. I would now like to turn the call over to Sam Levinson. Please go ahea ...

Core Insights - Surf Air Mobility Inc. (SRFM) reported Q1 2025 revenue of $23.5 million, achieving the high end of its guidance range, with adjusted EBITDA of ($14.4) million and adjusted EPS of ($1.09) [1][5] - The company is transitioning from the Transformation Phase to the Optimization Phase, aiming to improve profitability through strategic cost reductions and optimizations, with significant growth expected in the latter half of FY25 [1][5] - SRFM has entered into its first interline agreement with Japan Airlines, which is expected to enhance end-user experience alongside the launch of a new Jet Card [1][5] Financial Performance - Q1 2025 revenue was $23.5 million, aligning with the high end of the guidance range [5] - Adjusted EBITDA for the quarter was reported at ($14.4) million [1] - Adjusted EPS for the quarter was ($1.09) [1] Strategic Developments - The company is focusing on charter profitability, which has led to a decrease in OnDemand services revenue [1] - The interline agreement with Japan Airlines marks a significant milestone for SRFM, indicating a strategic partnership with an international airline [1][5] - The launch of the new Jet Card emphasizes the company's commitment to enhancing the end-user experience [1][5]