FlyExclusive to release 2023 financials by end of the month

After going public at the end of December, FlyExclusive says its financials for 2023, including the fourth quarter will be released by the end of the month.

On April 2, the Kinston, North Carolina-based flight provider filed for a two-week extension.

FlyExclusive Chairman Jim Segrave tells Private Jet Card Comparisons, “The process of going public at the very end of last year created a backlog of work for our auditors, accountants, and consultants in terms of our fourth quarter financials, and the full year. We expect to have everything filed by the end of the month.”

According to the New York Stock Exchange, “Listed companies must have cured the initial delinquent or defective filing and be current with all subsequent filings within the maximum twelve-month cure period.”

FlyExclusive is the fifth-largest private jet charter/fractional operator in the U.S.

FlyExclusive 2023 financials

Before its IPO, FlyExclusive had cut revenue projections.

The revised forecast cut 2023 total revenue from $367.3 million to $323.1 million.

Charter revenue expectation dropped from $359.4 million to $316.6 million.

MRO Revenue was cut from $4.8 million to $3.9 million.

Revenue from fractional share sales was estimated to be $2.6 million, $400,000 more than its prior forecast.

Adjusted EBITDA forecasted earnings went from $32.0 million to $25.2 million in the update presentation.

The forecasted net loss for last year increased from $11.9 to $27.6 million.

FlyExclusive’s stock, which trades under FLYX, was at $4.68 in the early afternoon.

It has traded between $3.39 and $25.21 over the past 52 weeks.