Volato CFO Mark Heinen says, ‘Our results thus far in Q3 show that we are sustaining profitability while strengthening the balance sheet’.
Volato Group, Inc. says it expects to deliver net income consistent with the second quarter of 2025 during the current third quarter, per a press release today.
It reported Q2 $24.9 million in revenue and net income of $3.6 million.
The company pivoted a year ago from its fractional ownership and jet card programs.
It is now focusing on aviation software that supports private jet operators in managing fractional ownership and charter services.
Its Vaunt platform enables members to pay an annual fee and then fly on empty legs without additional costs.
In the release, Volato said, “The company is also on track to achieve over $50 million in cumulative debt reduction year-to-date, significantly enhancing financial flexibility and moving toward a cleaner capital structure.”
Chief Financial Officer Mark Heinen said, “Our results thus far in Q3 show that we are sustaining profitability while strengthening the balance sheet.”
He added, “Reducing debt through disciplined execution not only stabilizes the company today but also frees capital to support recurring software and service revenues that will drive long-term growth.”
The vast majority of profits are coming from its aircraft sales program.
A Gulfstream G280 originally ordered for its then-fractional program is scheduled for delivery in Q4.
Volato also reaffirmed its commitment to advancing its software initiatives.
The software is expected to play a key role in the company’s future growth strategy.
That includes its planned merger with M2i Global, Inc.
Chief Executive Officer Matt Liotta said, “As we prepare for the merger with M2i Global, we see software and technology as key enablers of long-term value across aviation and other industries.”
He added, “By maintaining consistent profitability and reducing debt, we are building the financial strength to support transformational opportunities.”
Per its SEC filing in conjunction with reporting Q2 2025 results, Volato had $4.1 million in jet card liabilities.
It is also facing multiple lawsuits.
Addressing former membership and fractional clients, Liotta tells Private Jet Card Comparisons, “We are continuing to enable jet card clients to use their balances by booking ad hoc charter flights through us while working to settle pending litigation.”
Full Q3 2025 financial results will be released in November, following the company’s quarterly reporting schedule.
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