With the expected delivery of another Gulfstream G280 Volato believes it can remain profitable through the rest of the year.
Volato Group reported its second consecutive quarterly profit via its Q2 2025 results released this morning.
It said the results reflect “continued rapid liability reductions, and outlined further milestones toward its planned merger with M2i Global, Inc.”
Earlier this month, it signed a definitive merger agreement with M2i Global.
Volato clocked $24.9 million in revenue and net income of $3.6 million for the quarter.
Most of the revenue came from selling a Gulfstream G280.
In Q2 2024, the company turned in a net loss of $16.9 million.
EBITDA was a positive $1.6 million.
That compares to an EBITDA loss of $3.4 million in Q2 2024
“Driven by disciplined cash management and negotiated creditor settlements,” liabilities dropped from $39.2 million as of March 31, 2025, to $20.1 million as of June 30, 2025.
After dropping its fractional and jet card programs at the end of August 2024, a host of lawsuits from customers and trade vendors hit the private jet flight provider.
Per its SEC filing, it had $4.1 million in jet card liabilities as of June 30, 2025.
It has since pivoted to focus on B2B software and its Vaunt empty-leg membership program.
CFO Mark Heinen said, “Our disciplined capital management and growing profitability position us well to grow our Vaunt platform and advance our merger with M2i Global.
CEO Matt Liotta added, “We executed with focus and urgency in Q2,” continuing. “Profitability from continuing operations, major liability reductions, and operational growth across our platforms are all signals that our strategy is working—even as we continue to navigate through a complex financial environment.”
Volato also updated its M2i Global merger plans.
Per Volato:
‘A joint integration team is finalizing day-one readiness plans across finance, IT infrastructure, cybersecurity, procurement, and compliance. Current workstreams are focused on mapping critical systems, harmonizing reporting frameworks, and quantifying early cost-synergy opportunities to be activated immediately after close. The companies remain on track for a fourth quarter 2025 close, and both companies continue to operate independently until completion.’
Executives said they expect the company “to remain profitable in both the third and fourth quarters of 2025.”
Delivery of an additional Gulfstream G280 is scheduled for Q4 2025.
It is “expected to contribute incremental revenue and margin in line with Q2 performance, further strengthening near-term liquidity.”
The super-midsize jets, once destined for its fractional program, are now being resold.
DOWNLOAD: Volato Group 2025 Q2 Financial Results
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