Jet AI Q2 financials see cash grow, revenues fall ahead of merger

Las Vegas-based Jet AI reported its second-quarter financial results for 2025 this morning.

The company is transitioning to a pure-play AI data center company.

It expects to sell its aviation division to FlyExclusive.

However, it recently extended the agreement to complete the transaction.

The company first took flight in 2021 as one of three HondaJet fractional offerings at the time.

It later added jet cards, then a charter brokerage, changing from its initial Jet Token branding to Jet AI.

It went public via a SPAC merger in 2023.

That was followed by artificial-intelligence-based consumer charter and B2B solutions.

Q2 2025 Financial Highlights

In the most recent quarter, revenue fell to $2.2 million from $3.1 million year-over-year.

Per Jet AI, “The decrease was primarily due to a reduction in (charter) and jet card revenue, which stemmed mainly from clients, prospects, and vendors anticipating the sale of the company’s aviation business to fFyExclusive, as well as reduced flying by our management clients, partially offset by an increase in software app revenue.”

• Software App and Cirrus Charter revenue is the gross amount of charters booked through CharterGPT and Cirrus Aviation (the Part 135 operator it uses to fulfill flights). It was $1.3 million in Q2 2025. That is compared to $1.6 million in the same period last year.
• Management and Other Services revenue is comprised of revenues generated from managing and chartering the company’s customer aircraft. It totaled $533,000 in Q2 2025. That’s down from $914,000 a year ago.
• Jet Card and Fractional Programs revenue, which is generated from the sale and use of jet cards and service revenue related to ongoing utilization by its fractional customers, totaled $421,000 compared to $559,000 in the same period last year.

Gross loss was reduced to $110,000 compared to $417,000 in Q2 2024.

Jet AI said, “The reduced gross loss was largely driven by the scale-back in operations during the quarter.”

Net loss dropped to $2.4 million from $3.2 million.

Cash and cash equivalents increased to $8.3 million from $5.9 million at the end of 2024.

Jet AI Future

Executive Chairman Mike Winston said:

‘Consistent with our pivot toward data centers, we recently announced a capital contribution toward AIIA Sponsor, an entity serving as a sponsor of AI Infrastructure Acquisition Corp., founded by certain members of our executive officers and directors. AI Infrastructure Acquisition Corp. is a SPAC targeting opportunities with private companies specializing in AI, machine learning, and data center infrastructure operations. Through our contribution, once the deal is closed, we will hold an equity interest that will not only strengthen Jet.AI’s book equity but will reinforce our position in the AI data center sector.’

Winston added, “Beyond our data center projects, our agreement with FlyExclusive remains on track to close by the recently extended outside date of October 31, 2025.”