New Risk • May 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Negative equity (-US$26m). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (CA$68.0m market cap, or US$49.7m). Reported Earnings • May 07
First quarter 2026 earnings released: EPS: US$0.04 (vs US$0.002 in 1Q 2025) First quarter 2026 results: EPS: US$0.04 (up from US$0.002 in 1Q 2025). Revenue: US$76.6m (up 15% from 1Q 2025). Net income: US$2.69m (up US$2.54m from 1Q 2025). Profit margin: 3.5% (up from 0.2% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Apr 23
Global Crossing Airlines Group Inc. to Report Q1, 2026 Results on May 07, 2026 Global Crossing Airlines Group Inc. announced that they will report Q1, 2026 results Pre-Market on May 07, 2026 Reported Earnings • Mar 05
Full year 2025 earnings released: US$0.048 loss per share (vs US$0.19 loss in FY 2024) Full year 2025 results: US$0.048 loss per share (improved from US$0.19 loss in FY 2024). Revenue: US$246.3m (up 10% from FY 2024). Net loss: US$3.05m (loss narrowed 73% from FY 2024). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Announcement • Feb 19
Global Crossing Airlines Group Inc. to Report Q4, 2025 Results on Mar 05, 2026 Global Crossing Airlines Group Inc. announced that they will report Q4, 2025 results Pre-Market on Mar 05, 2026 Reported Earnings • Nov 06
Third quarter 2025 earnings released: US$0.03 loss per share (vs US$0.08 loss in 3Q 2024) Third quarter 2025 results: US$0.03 loss per share (improved from US$0.08 loss in 3Q 2024). Revenue: US$58.0m (up 11% from 3Q 2024). Net loss: US$1.96m (loss narrowed 60% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Oct 29
Global Crossing Airlines Group Inc., Annual General Meeting, Dec 10, 2025 Global Crossing Airlines Group Inc., Annual General Meeting, Dec 10, 2025. Location: bldg, 5a, miami international airport, 4 th floor 4200 nw 36 th street, fl 33166, miami United States Announcement • Oct 23
Global Crossing Airlines Group Inc. to Report Q3, 2025 Results on Nov 06, 2025 Global Crossing Airlines Group Inc. announced that they will report Q3, 2025 results Pre-Market on Nov 06, 2025 Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: US$0.009 (vs US$0.005 in 2Q 2024) Second quarter 2025 results: EPS: US$0.009 (up from US$0.005 in 2Q 2024). Revenue: US$61.4m (up 6.7% from 2Q 2024). Net income: US$608.0k (up 114% from 2Q 2024). Profit margin: 1.0% (up from 0.5% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Jul 31
Global Crossing Airlines Group Inc. to Report Q2, 2025 Results on Aug 14, 2025 Global Crossing Airlines Group Inc. announced that they will report Q2, 2025 results on Aug 14, 2025 Reported Earnings • May 09
First quarter 2025 earnings released: EPS: US$0.002 (vs US$0.11 loss in 1Q 2024) First quarter 2025 results: EPS: US$0.002 (up from US$0.11 loss in 1Q 2024). Revenue: US$66.6m (up 24% from 1Q 2024). Net income: US$154.0k (up US$6.53m from 1Q 2024). Profit margin: 0.2% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Apr 24
Global Crossing Airlines Group Inc. to Report Q1, 2025 Results on May 08, 2025 Global Crossing Airlines Group Inc. announced that they will report Q1, 2025 results on May 08, 2025 New Risk • Mar 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$29m). Earnings have declined by 27% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (CA$54.9m market cap, or US$38.0m). Reported Earnings • Mar 06
Full year 2024 earnings released: US$0.19 loss per share (vs US$0.37 loss in FY 2023) Full year 2024 results: US$0.19 loss per share (improved from US$0.37 loss in FY 2023). Revenue: US$223.8m (up 40% from FY 2023). Net loss: US$11.5m (loss narrowed 45% from FY 2023). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Feb 06
Global Crossing Airlines Group Inc. Revises Earnings Guidance for the Fourth Quarter and Full Year Ended December 31, 2024 Global Crossing Airlines Group Inc. revised earnings guidance for the fourth quarter and full year ended December 31, 2024. The company expects to report fourth-quarter and full-year financial results at the high end of its previously issued 2024 guidance. For the quarter, the company expects revenue to be in the range of $55 million to $61 million and for the year, revenue to be in the range of $218 million to $224 million. Announcement • Feb 04
Global Crossing Airlines Group Inc. to Report Fiscal Year 2024 Results on Mar 06, 2025 Global Crossing Airlines Group Inc. announced that they will report fiscal year 2024 results on Mar 06, 2025 Announcement • Dec 11
Global Crossing Airlines Group Inc. Announces Resignation Paul Martins as Director Global Crossing Airlines Group Inc. announced that Mr. Paul Martins has tendered his resignation as a Director of the Company and such resignation has been accepted by the Board of Directors of the Company . Announcement • Nov 26
Global Crossing Airlines Group Inc. Appoints Paul Martins as Director Global Crossing Airlines Group Inc. at its annual general meeting held on November 22, 2024, approved the appointment of Paul Martins as director. Reported Earnings • Nov 08
Third quarter 2024 earnings released: US$0.08 loss per share (vs US$0.085 loss in 3Q 2023) Third quarter 2024 results: US$0.08 loss per share. Revenue: US$52.4m (up 23% from 3Q 2023). Net loss: US$4.89m (flat on 3Q 2023). Announcement • Nov 07
Global Crossing Airlines Group Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year of 2024 Global Crossing Airlines Group Inc. provided earnings guidance for the fourth quarter and full year of 2024. For the quarter, the company expects revenue to be in the range of $55 million to $61 million.
For the year, the company expects revenue to be in the range of $218 million to $224 million. Announcement • Oct 29
Global Crossing Airlines Group Inc. to Report Q3, 2024 Results on Nov 07, 2024 Global Crossing Airlines Group Inc. announced that they will report Q3, 2024 results on Nov 07, 2024 Announcement • Oct 09
Global Crossing Airlines Group Inc., Annual General Meeting, Nov 22, 2024 Global Crossing Airlines Group Inc., Annual General Meeting, Nov 22, 2024. Location: bldg. 5a, miami international airport, 4th floor, 4200 nw 36th street, fl 33166, miami United States Announcement • Oct 07
Global Crossing Airlines Appoints Laurie Villa as Chief People Officer Global Crossing Airlines Group Inc. announced the appointment of Laurie Villa as Chief People Officer, effective immediately. Reporting to GlobalX President and CFO, Ryan Goepel, Mrs. Villa will be responsible for leading the Company’s Human Capital Management functions, strengthening GlobalX’s culture and driving engagement across the airline. She joins GlobalX at a critical phase of its growth to recruit, develop and retain talent, implement competitive and compelling compensation and benefit plans, support crew and team member relations, drive performance management, and lead a values-based culture. Prior to joining GlobalX, Mrs. Villa served as Chief People Officer for JetBlue Airlines for three years and Chief Human Resources Officer of Spirit Airlines for six and half years. Additionally, over the last ten years, she has served as an advisory board member of Primate Technologies, a technology and software company focused on the energy industry. With more than 30 years of global leadership experience in both large-scale and start-up organizations, Mrs. Villa has developed successful people, talent and succession strategies to support long-term business objectives in a number of industries, including consumer goods, specialty retail, education, and technology. In addition to her airline roles, Mrs. Villa has held senior leadership positions at Ann Taylor Corporation, LexisNexis Risk Solutions, Charter Schools USA and Sara Lee Corporation. Mrs. Villa is a graduate of the University of North Florida, where she received both a Bachelor’s and Master’s in Business Administration. Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: US$0.003 (vs US$0.13 loss in 2Q 2023) Second quarter 2024 results: EPS: US$0.003 (up from US$0.13 loss in 2Q 2023). Revenue: US$57.5m (up 83% from 2Q 2023). Net income: US$284.0k (up US$7.76m from 2Q 2023). Profit margin: 0.5% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Announcement • Jul 25
Global Crossing Airlines Group Inc. to Report Q2, 2024 Results on Aug 14, 2024 Global Crossing Airlines Group Inc. announced that they will report Q2, 2024 results on Aug 14, 2024 Reported Earnings • May 08
First quarter 2024 earnings released: US$0.11 loss per share (vs US$0.11 loss in 1Q 2023) First quarter 2024 results: US$0.11 loss per share. Revenue: US$53.8m (up 67% from 1Q 2023). Net loss: US$6.38m (loss widened 5.1% from 1Q 2023). Announcement • Apr 24
Global Crossing Airlines Group Inc. to Report Q1, 2024 Results on May 07, 2024 Global Crossing Airlines Group Inc. announced that they will report Q1, 2024 results on May 07, 2024 Reported Earnings • Mar 08
Full year 2023 earnings released: US$0.37 loss per share (vs US$0.30 loss in FY 2022) Full year 2023 results: US$0.37 loss per share (further deteriorated from US$0.30 loss in FY 2022). Revenue: US$160.1m (up 65% from FY 2022). Net loss: US$21.0m (loss widened 33% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. New Risk • Jan 28
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: CA$1.4m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$19m). Earnings have declined by 51% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (9.7% increase in shares outstanding). Significant insider selling over the past 3 months (CA$1.4m sold). Market cap is less than US$100m (CA$39.1m market cap, or US$29.1m). Announcement • Jan 25
Global Crossing Airlines Group Inc. to Report Fiscal Year 2023 Results on Mar 06, 2024 Global Crossing Airlines Group Inc. announced that they will report fiscal year 2023 results Pre-Market on Mar 06, 2024 Board Change • Jan 01
High number of new directors Independent Director Chris Jamroz was the last director to join the board, commencing their role in 2023. Announcement • Nov 29
Global Crossing Airlines Group Inc. Announces Appointment of Lucy Morillo, Esq. as President and Chief Executive Officer of UrbanX Global Crossing Airlines Group Inc. announced the creation of UrbanX Air the integration of Urban Air Mobility (UAM) in South Florida. In conjunction with this announcement, GlobalX Chairman and CEO, Ed Wegel, an aviation industry veteran, has appointed Lucy Morillo, Esq., as President and CEO of UrbanX. Morillo – an attorney, community leader, and serial entrepreneur with decades of executive experience in the business, private equity and non-profit sectors – is responsible for leading UrbanX’s launch and further developing the UAM ecosystem in South Florida. With this appointment Morillo becomes one of the few Hispanic female CEOs in the aviation and urban air mobility space. She is a member of the Wings Club; the Florida Department of Transportation (FDOT) Advanced Air Mobility Advisory Committee (AAMAC); the International Aviation Womens Association (IAWA); and EVE’s Air Mobility Advisory Board. Morillo is working with local and state officials, infrastructure, energy and technology providers to ensure the appropriate framework is in place. For the past three decades, Morillo has established herself as a trusted member of the C-suite by building stakeholder engagement, fostering cross-functional relationships, enhancing corporate culture and managing risk in a fast-paced growth environment. As President and CEO, Morillo is committed to operating UrbanX under a social enterprise business model, working in conjunction with local governments to ensure the service the company offers benefits not only the passengers but the surrounding communities. In addition to leading UrbanX, Morillo is a principal and co-founder of LM & Associates (LMA), a women-owned marketing and communications firm providing support to socially conscious brands, and co-owner and publisher of S Revista, a luxury lifestyle publication that has quickly risen to prominence as the preeminent lifestyle magazine for Spanish speakers in the United States. Additionally, Morillo is President-Elect of the International Women’s Forum (IWF) Florida Chapter, an invitation-only network of women business leaders throughout the globe. Throughout her career, Morillo has also held leadership roles in several large organizations based in the Miami area. As the Executive Director of Estates and Gift Planning for the University of Miami (UM), she was responsible for securing nearly $350 million as part of UM’s Momentum Campaign. Then, she took the helm of Miami Children’s Hospital Foundation, and managed $100 million in assets and was instrumental in securing a $60 million gift to rename the hospital after Jack and Barbara Nicklaus. Morillo also has vast legal and executive experience, including establishing an international legal team to expand a telecom company into nine Latin American countries. Reported Earnings • Nov 10
Third quarter 2023 earnings released: US$0.085 loss per share (vs US$0.003 profit in 3Q 2022) Third quarter 2023 results: US$0.085 loss per share (down from US$0.003 profit in 3Q 2022). Revenue: US$42.6m (up 38% from 3Q 2022). Net loss: US$4.88m (down US$5.05m from profit in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Nov 10
Global Crossing Airlines Group Inc. Reaffirms Revenue Guidance for the Full Year 2023 Global Crossing Airlines Group Inc. reaffirmed revenue guidance for the full year 2023. Revenue guidance for 2023 remains $150 million, a 54% increase over 2022. Currently $143 million of this revenue, or approximately 95%, has been flown or contracted. Announcement • Oct 06
Global Crossing Airlines Group Inc. to Report Q3, 2023 Results on Nov 08, 2023 Global Crossing Airlines Group Inc. announced that they will report Q3, 2023 results Pre-Market on Nov 08, 2023 Board Change • Sep 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Andrew Axelrod was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 11
Global Crossing Airlines Group Inc. Provides Revenue Guidance for Full Year 2023 Global Crossing Airlines Group Inc. provided revenue guidance for full year 2023. For the year, the company is increasing its revenue guidance for 2023 to $150 million, a 54% increase over 2022. Reported Earnings • Aug 11
Second quarter 2023 earnings released: US$0.13 loss per share (vs US$0.13 loss in 2Q 2022) Second quarter 2023 results: US$0.13 loss per share (in line with 2Q 2022). Revenue: US$31.5m (up 81% from 2Q 2022). Net loss: US$7.47m (loss widened 10% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Aug 05
Global Crossing Airlines Group Inc. to Report Q2, 2023 Results on Aug 09, 2023 Global Crossing Airlines Group Inc. announced that they will report Q2, 2023 results Pre-Market on Aug 09, 2023 Announcement • Aug 04
Global Crossing Airlines Group Inc. announced that it has received $35 million in funding from Axar Capital Management LP and other investors Global Crossing Airlines Group Inc. announced a private placement to issue 15% non convertible Senior Secured Notes for the gross proceeds of $35,000,000 on August 2, 2023. The transaction included participation from new investor Axar Capital Management LP and its affiliates. The Notes will bear interest at a fixed rate of 15% per annum and include an upfront fee of 1.75% of the principal payment and matures on August 2, 2029. The Company will be permitted to prepay all of the Notes as follows beginning on August 2, 2025 subject to a redemption premium. At closing, the Investors will be issued 10,000,000 warrants exercisable into one share of common stock at an exercise price of $1.00 per share, with such warrants expiring on June 30, 2030. As part of the financing, Andrew Axelrod of Axar Capital Management LP will join the Board. Announcement • May 12
Global Crossing Airlines Group Inc. Provides Revenue Guidance for First Half and Full Year 2023 Global Crossing Airlines Group Inc. Provided revenue guidance for first half and full year 2023. Fir the first half, The company expects $65 million in revenue. For full year, the company expects revenue in 2023 of over of $140 million. Board Change • Nov 16
High number of new and inexperienced directors There are 11 new directors who have joined the board in the last 3 years. The company's board is composed of: 11 new directors. No experienced directors. No highly experienced directors. Director Zygimantas Surintas is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Nov 05
Global Crossing Airlines Group Inc. Reaffirms Revenue Guidance for the Full Year of 2022 Global Crossing Airlines Group Inc. reaffirms revenue guidance for the full year of 2022. GlobalX reaffirms its prior guidance of over $90 million in annual revenue for 2022 as management believes the fourth quarter will build on third quarter results. Announcement • Oct 12
Global Crossing Airlines Group Inc. to Report Q3, 2022 Results on Nov 01, 2022 Global Crossing Airlines Group Inc. announced that they will report Q3, 2022 results After-Market on Nov 01, 2022 Announcement • Sep 14
Global Crossing Airlines Group Inc., Annual General Meeting, Dec 08, 2022 Global Crossing Airlines Group Inc., Annual General Meeting, Dec 08, 2022. Announcement • Aug 18
Global Crossing Airlines Group Inc. Provides Earnings Guidance for the Year 2022 Global Crossing Airlines Group Inc. provided earnings guidance for the year 2022. Looking forward to the full year of 2022, GlobalX reaffirms its expectation to see over $90 Million in revenue as it adds additional aircraft and launches its cargo operations. GlobalX is expecting operating income to be positive in third quarter of 2022, subject to increased pilot hiring and training and systems development. Recent Insider Transactions Derivative • Jun 10
CFO & Director exercised options to buy CA$304k worth of stock. On the 7th of June, Ryan Goepel exercised options to buy 311k shares at a strike price of around CA$0.60, costing a total of CA$187k. This transaction amounted to 35% of their direct individual holding at the time of the trade. Since June 2021, Ryan's direct individual holding has increased from 672.08k shares to 878.79k. Company insiders have collectively bought CA$345k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • May 28
Global Crossing Airlines Group, Inc. Appoints Helane Becker to Its Advisory Board Global Crossing Airlines Group Inc. announced the appointment of Helane Becker to its Advisory Board. Ms. Becker is a managing director of Cowen and senior research analyst who covers airlines, air freight, and aircraft leasing. She has more than 40 years of experience on Wall Street, holding positions within the research, trading, and investment banking departments of several broker/dealers including Citi, Lehman Brothers, and Smith Barney. She was ranked the #1, 2, or 3 analyst by Institutional Investor magazine for a decade, as well as in the top 5 analysts by The Wall Street Journal. She holds a bachelor’s degree from Montclair State University and a Master of Business Administration from New York University. She is on the Advisory Board and the Executive Committee of the Feliciano School of Business at Montclair State, as well as on the Finance and Accounting Advisory Board. In addition, Ms. Becker served three terms on the US Department of Commerce’s Travel and Tourism Advisory Board and was on the US Chamber of Commerce’s Task Force on Climate Change. Announcement • May 18
Global Crossing Airlines Group Inc. Reaffirms Earnings Guidance for the Full Year 2022 Global Crossing Airlines Group Inc. reaffirmed earnings guidance for the full year 2022. For the full year, the company reaffirms its expectation to see over $90 Million in revenue, powered by double digit sequential quarterly revenue growth through the rest of 2022 as it adds additional aircraft and launches its cargo operations. The company is expecting operating income to be near break even in second quarter and positive in Third Quarter 2022. Announcement • May 13
Global Crossing Airlines Group Inc. to Report Q1, 2022 Results on May 16, 2022 Global Crossing Airlines Group Inc. announced that they will report Q1, 2022 results After-Market on May 16, 2022 Board Change • Apr 27
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 2 experienced directors. No highly experienced directors. Independent Director Deb Robinson is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Apr 07
Global Crossing Airlines Group Inc. Announces Retirement of Joseph DaGrosa as Board of Director On March 31, 2022, Joseph DaGrosa, a member of the board of directors of Global Crossing Airlines Group Inc., notified the company of his intention to retire from the company’s board of directors for personal reasons, effective as of March 31, 2022. Mr. DaGrosa did not advise the company of any disagreement with the Company on any matter relating to its operations, policies or practices. Effective upon Mr. DaGrosa’s resignation as a director, the size of the company’s board of directors will be reduced temporarily from 10 to 9 directors. Announcement • Apr 01
Global Crossing Airlines Group Inc. Provides Earnings Guidance for the First Quarter, Third Quarter and Rest of 2022 Global Crossing Airlines Group Inc. provided earnings guidance for the first quarter, third quarter and rest of 2022. The company expects revenue in first quarter to exceed all revenue in 2021 and company expects to see and average of 30% sequential quarterly revenue growth through the rest of 2022 as company add additional aircraft and launch cargo operations. Based on current contracts and projected aircraft delivery dates, company anticipates reaching profitability by third quarter of 2022. Announcement • Mar 30
Global Crossing Airlines Group Inc. announced that it has received $6 million in funding from Alterna Capital Partners LLC On March 28, 2022, Global Crossing Airlines Group Inc. closed the transaction. Board Change • Jan 09
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 2 experienced directors. No highly experienced directors. Independent Director Deborah Robinson is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 
