Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$8.14, the stock trades at a trailing P/E ratio of 2.3x. Average forward P/E is 9x in the Airlines industry in the US. Total loss to shareholders of 100% over the past three years. Reported Earnings • May 16
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: US$6.68 loss per share. Revenue: US$1.68m (down 52% from 1Q 2025). Net loss: US$2.68m (loss narrowed 15% from 1Q 2025). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 67%. Revenue is expected to decline by 22% p.a. on average during the next 2 years, while revenues in the Airlines industry in the US are expected to grow by 8.8%. Announcement • Apr 08
Jet.AI Inc. announced that it expects to receive $5 million in funding Jet.AI Inc announced that it will issue common shares for gross proceeds of $5,000,000 on April 8, 2026. The investment was made through a Special Purpose Vehicle (“SPV”) that held equity in xAI, prior to x.AI’s recent acquisition by SpaceX. Announcement • Apr 07
Jet Inc Announces Reverse Stock Split Intended to Maintain Compliance with the Minimum Bid Price Requirement Under Nasdaq's Continued Listing Criteria Jet Inc. announced that it has determined to effect a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-200. The reverse stock split is expected to take effect before markets open on April 8, 2026. The Company's common stock will continue to be traded on the Nasdaq Capital Market and will begin trading on a split-adjusted basis when the market opens on April 8, 2026. The reverse stock split is intended to enable the Company to achieve several important corporate objectives, including enabling the Company to maintain compliance with the minimum bid price requirement under Nasdaq's continued listing criteria and making additional shares of common stock available for future issuance. Announcement • Mar 17
Jet.AI Inc. (NasdaqCM:JTAI) announces an Equity Buyback for $5 million worth of its shares. Jet.AI Inc. (NasdaqCM:JTAI) announces an share repurchase program. Under the program, the company will repurchase up to $5 million worth of its shares. New Risk • Mar 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 94% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (28% average weekly change). Earnings are forecast to decline by an average of 94% per year for the foreseeable future. High level of non-cash earnings (123% accrual ratio). Shareholders have been substantially diluted in the past year (over 54x increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$11.9m market cap). Reported Earnings • Mar 09
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: US$1.52 (up from US$47.93 loss in FY 2024). Revenue: US$9.18m (down 35% from FY 2024). Net income: US$4.59m (up US$18.0m from FY 2024). Profit margin: 50% (up from net loss in FY 2024). Revenue exceeded analyst estimates by 9.1%. Earnings per share (EPS) also surpassed analyst estimates. New Risk • Mar 08
New major risk - Revenue and earnings growth Earnings have declined by 12% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (28% average weekly change). Earnings have declined by 12% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 20x increase in shares outstanding). Market cap is less than US$10m (US$4.83m market cap). Minor Risk Currently unprofitable and not forecast to become profitable next year (US$6.1m net loss next year). Announcement • Feb 13
Jet.AI Inc. Receives Letter from the Listing Qualifications Department of the Nasdaq On February 6, 2026, Jet.AI Inc. (“Jet.AI” or the “Company”) received a letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”), as the minimum bid price of the Company’s common stock has been below $1.00 per share for 30 consecutive business days. The notification of noncompliance has no immediate effect on the listing or trading of the Company’s common stock. The Company has 180 calendar days, or until August 5, 2026 (the “Initial Compliance Period”), to regain compliance with the Minimum Bid Price Requirement. To regain compliance, the minimum bid price of the Company’s common stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days during the Initial Compliance Period. In the event the Company does not regain compliance with the Minimum Bid Price Requirement during the Initial Compliance Period, the Company may be eligible for an additional 180-calendar day compliance period (the “Additional Compliance Period”) if, at that time, the Company meets the continued listing requirement for the market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the bid price requirement. Additionally, the Company would need to provide written notice of its intention to cure the deficiency during the Additional Compliance Period, including by effecting a reverse stock split, if necessary. The Company’s failure to regain compliance during the Initial Compliance Period or the Additional Compliance Period, if applicable, could result in delisting. The Company intends to actively monitor the bid price of its common stock and may, if appropriate, consider implementing available options to regain compliance with the Minimum Bid Price Requirement, including the possibility of effecting a reverse stock split at a ratio within the range previously approved by the Company’s stockholders at its 2025 annual meeting. Although the Company believes it will be able to timely regain compliance with the Minimum Bid Price Requirement, there can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Requirement, satisfy the requirements necessary for eligibility for an Additional Compliance Period, or maintain compliance with any other listing requirements. New Risk • Jan 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 18% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Shareholders have been substantially diluted in the past year (225% increase in shares outstanding). Market cap is less than US$10m (US$2.37m market cap). Minor Risk Currently unprofitable and not forecast to become profitable next year (US$6.9m net loss next year). Announcement • Dec 30
Jet.AI Inc. has withdrawn its Follow-on Equity Offering. Jet.AI Inc. has withdrawn its Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 2,000,000
Price\Range: $2
Discount Per Security: $0.14
Security Name: Pre-Funded Warrants
Security Type: Equity Warrant
Securities Offered: 2,000,000 Announcement • Dec 02
Jet.AI Inc. has filed a Follow-on Equity Offering. Jet.AI Inc. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 2,000,000
Price\Range: $2
Discount Per Security: $0.14
Security Name: Pre-Funded Warrants
Security Type: Equity Warrant
Securities Offered: 2,000,000 New Risk • Nov 27
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 American stocks, typically moving 11% 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 Shareholders have been substantially diluted in the past year (368% increase in shares outstanding). Market cap is less than US$10m (US$7.07m market cap). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$6.9m net loss next year). Share price has been volatile over the past 3 months (11% average weekly change). Announcement • Nov 22
Jet.AI Inc. has filed a Follow-on Equity Offering in the amount of $3.540848 million. Jet.AI Inc. has filed a Follow-on Equity Offering in the amount of $3.540848 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering New Risk • Nov 19
New major risk - Revenue and earnings growth Earnings have declined by 15% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$12m free cash flow). Earnings have declined by 15% per year over the past 5 years. Shareholders have been substantially diluted in the past year (288% increase in shares outstanding). Market cap is less than US$10m (US$5.51m market cap). Announcement • Nov 17
Jet.AI Inc., Annual General Meeting, Dec 19, 2025 Jet.AI Inc., Annual General Meeting, Dec 19, 2025. Reported Earnings • Nov 17
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: US$0.59 loss per share (improved from US$43.82 loss in 3Q 2024). Revenue: US$1.71m (down 56% from 3Q 2024). Net loss: US$1.97m (loss narrowed 43% from 3Q 2024). Revenue missed analyst estimates by 19%. Earnings per share (EPS) exceeded analyst estimates by 13%. Revenue is expected to decline by 62% p.a. on average during the next 2 years, while revenues in the Airlines industry in the US are expected to grow by 12%. New Risk • Oct 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.52m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$8.5m free cash flow). Shareholders have been substantially diluted in the past year (over 28x increase in shares outstanding). Market cap is less than US$10m (US$9.52m market cap). Minor Risk Currently unprofitable and not forecast to become profitable next year (US$8.0m net loss next year). Major Estimate Revision • Aug 21
Consensus revenue estimates decrease by 44%, EPS upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from US$15.6m to US$8.80m. EPS estimate increased from -US$4.69 to -US$2.96 per share. Airlines industry in the US expected to see average net income growth of 12% next year. Consensus price target down from US$20.00 to US$11.00. Share price fell 9.5% to US$3.13 over the past week. Reported Earnings • Aug 15
Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2025 results: US$0.92 loss per share (improved from US$56.66 loss in 2Q 2024). Revenue: US$2.23m (down 28% from 2Q 2024). Net loss: US$2.39m (loss narrowed 27% from 2Q 2024). Revenue missed analyst estimates by 41%. Earnings per share (EPS) exceeded analyst estimates by 16%. Revenue is forecast to grow 95% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Airlines industry in the US. Reported Earnings • May 16
First quarter 2025 earnings released First quarter 2025 results: Net income: (up US$3.26m from 1Q 2024). New Risk • May 16
New major risk - Revenue and earnings growth Earnings have declined by 28% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$8.2m free cash flow). Share price has been highly volatile over the past 3 months (47% average weekly change). Earnings have declined by 28% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 37x increase in shares outstanding). Market cap is less than US$10m (US$9.64m market cap). Minor Risk Currently unprofitable and not forecast to become profitable next year (US$11m net loss next year). Major Estimate Revision • Apr 02
Consensus EPS estimates upgraded to US$4.66 loss The consensus outlook for fiscal year 2025 has been updated. 2025 losses forecast to reduce from -US$6.04 per share to -US$4.66 per share. Revenue forecast reaffirmed at US$16.0m. Airlines industry in the US expected to see average net income growth of 47% next year. Consensus price target of US$20.00 unchanged from last update. Share price fell 3.7% to US$4.37 over the past week. Reported Earnings • Mar 27
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: US$47.93 loss per share. Revenue: US$14.0m (up 15% from FY 2023). Net loss: US$13.4m (loss widened 5.7% from FY 2023). Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) exceeded analyst estimates by 12%. Revenue is forecast to grow 64% p.a. on average during the next 2 years, compared to a 8.1% growth forecast for the Airlines industry in the US. Announcement • Dec 25
Jet.AI Launches "Ava" Agentic AI Model for Private Jet Booking Jet.AI Inc. announced the launch of its cutting-edge agentic AI model, “Ava,” who books private jets. Customers can now conveniently book private jets by calling or texting +1-888-492-4538, where the AI provides real-time aircraft availability, transparent pricing, and expert guidance to help users select the perfect jet for their journey. For those who prefer texting, Ava enables full conversational experience via SMS, responding to inquiries, sharing details, and providing a direct link to the CharterGPT app for seamless trip management. The AI ensures every customer receives a personalized and efficient experience, whether they’re seasoned flyers or first-time travelers. This announcement coincides with significant updates to the CharterGPT private jet booking app, including: Enhanced Push Notifications: Stay updated with real-time changes to travel reservations; Carbon Tracking and Offsetting: Empowering travelers to make eco-conscious decisions directly within the app and Deep Linking for Trip Sheets: Ava can conclude a text conversation by providing a link that automatically opens the CharterGPT app, where the traveler can access the discussed trip. Reported Earnings • Nov 17
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: US$30.06 loss per share (improved from US$138 loss in 3Q 2023). Revenue: US$3.92m (up 16% from 3Q 2023). Net loss: US$2.36m (loss narrowed 45% from 3Q 2023). Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) missed analyst estimates significantly. Revenue is forecast to grow 58% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Airlines industry in the US. New Risk • Nov 15
New major risk - Revenue and earnings growth Earnings have declined by 36% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Negative equity (-US$2.5m). Earnings have declined by 36% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 18x increase in shares outstanding). Market cap is less than US$10m (US$4.53m market cap). Announcement • Nov 14
Jet.AI Inc. (NasdaqCM:JTAI) announces an Equity Buyback for $2 million worth of its shares. Jet.AI Inc. (NasdaqCM:JTAI) announces an share repurchase program. Under the program, the company will repurchase up to $2 million worth of its shares. The repurchase program is valid till December 31, 2025. Announcement • Oct 25
Jet.AI Receives Letter from Nasdaq Regarding Non-Compliance with the Minimum Bid Price Requirement As previously disclosed, Jet.AI Inc. (the ‘Company’) received a letter on April 14, 2024, from the Nasdaq Listing Qualifications Department (‘Nasdaq’) notifying the Company that the Company was not in compliance with Nasdaq Listing Rule 5450(a)(1), as the minimum bid price of the Company’s common stock had been below $1.00 per share for 30 consecutive business days (the ‘Minimum Bid Price Requirement’). According to that notice, the Company had 180 calendar days, or until October 14, 2024, to regain compliance with the Minimum Bid Price Requirement. To regain compliance, the minimum bid price of the Company’s Common Stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days during this 180-calendar day grace period. On October 18, 2024, the Company received a letter from Nasdaq, notifying the Company that it had not regained compliance with the Minimum Bid Price Requirement. The October 18, 2024 notification has no immediate effect on the listing or trading of the Company’s Common Stock on The Nasdaq Capital Market. The Panel previously granted the Company until November 26, 2024, to implement the compliance plan the Company presented to Nasdaq and regain compliance with all Nasdaq listing criteria, including the Minimum Bid Price Requirement. The Company believes it will be able to regain compliance with the Minimum Bid Price Requirement on or before November 26, 2024. At the Company’s annual meeting of stockholders held on September 24, 2024, the Company’s stockholders approved a proposal that granted the Company’s Board of Directors the discretion to amend the Company’s Certificate of Incorporation to effect a reverse stock split of the Company’s issued and outstanding shares of Common Stock at a ratio not less than one-for-two and not greater than one-for-one thousand, with the exact ratio to be set within that range at the discretion of the Company’s Board of Directors without further approval or authorization of the Company’s stockholders. In addition, the Company has effected certain transactions, in part, to execute on other components of its plan to regain compliance with Nasdaq continued listing criteria, including closing upon offerings of the Company’s Common Stock on each of October 11, 2024 and October 21, 2024. The Company believes it will be able to timely regain compliance with Nasdaq’s continued listing requirements, including the Minimum Bid Price Requirement. However, there can be no assurance that the Company will be able to regain compliance with the Minimum Bid Requirement or will otherwise be able to regain, and then maintain, compliance with other Nasdaq listing criteria. Announcement • Oct 19
Jet.AI Inc. has filed a Follow-on Equity Offering in the amount of $1.4976 million. Jet.AI Inc. has filed a Follow-on Equity Offering in the amount of $1.4976 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 15,600,000
Price\Range: $0.096
Transaction Features: Registered Direct Offering Announcement • Oct 15
Jet.AI Inc. Announces Significant Advancements in its AI-Driven Software Offerings — CharterGPT and Reroute AI Jet.AI Inc. announced significant advancements in its AI-driven software offerings — CharterGPT and Reroute AI. The new features are in their final QA cycles before release, set to debut at the 2024 NBAA Business Aviation Convention & Exhibition, with rollouts planned from now through November 2024. Jet.AI's CharterGPT is breaking new ground by integrating voice capabilities and enhanced comprehension. The product’s AI agent is expected to be capable of listening, understanding, and carrying out booking requests with remarkable accuracy and efficiency. This innovation is expected to accelerate operator response times, a traditional bottleneck in the bespoke process of chartering a plane or an empty leg. Reroute AI continually scans the inventory of empty legs in the US to find reroute candidates to match with a consumer trip request. Like CharterGPT, Reroute AI is expected to autonomously connect with aircraft operators; that marks a significant advancement in travel tech. Announcement • Oct 12
Jet.AI Inc. has completed a Follow-on Equity Offering in the amount of $2.4 million. Jet.AI Inc. has completed a Follow-on Equity Offering in the amount of $2.4 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 26,666,666
Price\Range: $0.09
Discount Per Security: $0.0063
Transaction Features: Registered Direct Offering New Risk • Oct 10
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$6.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$6.6m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Negative equity (-US$2.5m). Shareholders have been substantially diluted in the past year (173% increase in shares outstanding). Market cap is less than US$10m (US$2.28m market cap). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (US$4.8m net loss in 2 years). Announcement • Sep 13
Jet.AI Opens New JetLeg.AI app to Beta Testers Jet.AI Inc. invites users to beta test the web version of JetLeg.AI, designed as an iOS/Android app that redirects previously wasted empty private flights into new lower cost charters. The easy-to-use app features AI trip finding, matching, and suggestions. Users may sign up and explore JetLeg.AI's capabilities in advance of live connectivity to the aircraft operator community at the company website. The consumer saves money, and the jet operator gets a completely new source of profitable revenue. The jet operator does not access JetLeg.AI directly but rather sees requests from JetLeg.AI through the operator's participation in the underlying Reroute AI network, also offered by Jet.AI. The app learns from user actions, continuously improving the recommendations for an even more tailored experience. This new product is consistent with goal to make the products play off of one another. Available on the Web, with native iOS and Android apps coming this fourth quarter, the app is powered by Jet.AI's Reroute AI technology, delivering an intuitive and personalized travel experience. JetLeg.AI not only uses advanced AI technology to suggest trips based on preferences, but it also learns from actions over time. The more use JetLeg.AI, the smarter it becomes, offering increasingly tailored trip suggestions that match travel habits, preferences, and needs. Whether travelers are looking for last-minute flights or cost-effective alternatives, JetLeg.AI ensures they have access to the best opportunities, making the booking process better. Key Features of JetLeg.AI: Tailored Trip Suggestions: AI-driven recommendations match travelers' preferences for a personalized and seamless travel experience. Learning from User Behavior: The AI adapts based on actions, continually refining trip suggestions to better match travel preferences. Wide Range of Flight Options: Access to a variety of private jet flights that fit individual schedules and destinations. The app uses Jet.AI's powerful Reroute AI engine. Significant Savings and New Revenue: Enjoy private jet travel at reduced rates while operators enjoy increased demand for previously unsold flight time. User-Friendly Interface: An intuitive interface across Web, iOS, and Android platforms simplifies the booking experience. Be the first to discover next adventure when the system goes live with operators in Fourth Quarter and take advantage of significant savings on private jet travel. Let JetLeg.AI help find the perfect trip and unlock new experiences in the world of luxury travel. Board Change • Aug 19
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 5 experienced directors. No highly experienced directors. Founder & Executive Chairman Mike Winston is the most experienced director on the board, commencing their role in 2018. 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 • Aug 02
Jet.AI Inc. Unveils Advanced AI Technology DynoFlight Platform Jet.AI Inc. announced the launch of its all-new DynoFlight 2.0 platform, a revolutionary web-based solution that redefines aviation carbon management. Completely rebuilt and filled with cutting-edge AI technology, DynoFlight delivers powerful tools designed to allow users to (1) sync fleet data with FL3XX with the touch of a button (2) visualize emission levels, (3) interrogate its AI in natural language about individual (or fleetwide) aircraft emissions (4) pay to remediate those carbon emissions (5) and track and comply with NBAA sustainable flight department standards. DynoFlight is at the forefront of an AI-powered revolution within aviation software because embedded throughout the platform are advanced AI tools that offer real-time insight, timely advice, and actionable tips based on actual fleet data. Perhaps more importantly, customers can then translate suggestions from AI into action with the ability to purchase carbon removal (or offset) credits all in one place. Strategies to minimize emissions and promote sustainable practices are better when from a source that knows the behavior of a fleet. By optimizing fuel usage and streamlining operations, DynoFlight helps users reduce their carbon footprint and achieve substantial cost savings, making it a powerful tool for enhancing ROI and boosting ESG efforts. Key Features of the New DynoFlight: FL3XX Sync: Streamline operations with precise synchronization of flight information across platforms, enhancing efficiency and minimizing errors. NBAA AI and Tip Systems: Access the latest information and expert advice to navigate the complexities of NBAA sustainable flight department compliance with ease. Activity and Type Tracking: Comprehensive tracking for NBAA sustainable flight department activities by pillar, allowing for more effective management and compliance. Mobile Support: Full mobile support to access DynoFlight's features and functionalities on the go, ensuring seamless connectivity and control from anywhere. 10x Speed: Experience a significant boost in performance, with speeds up to 10 times faster, ensuring quick responses and efficient task handling. New API Endpoints: Benefit from greater flexibility and control over aviation data with new API endpoints that enable seamless integration with other systems. The new DynoFlight is more than just a platform; it's a comprehensive solution designed to revolutionize aviation carbon management. Leveraging the power of AI, DynoFlight offers unmatched efficiency and ROI enhancement, making it an indispensable tool for aviation professionals. Announcement • Jun 06
Jet.AI Inc. announced a financing transaction Jet.AI Inc. announced that it will raise a funding on June 4, 2024. The company has issued non-binding non-recourse debt in the transaction. Announcement • Jun 02
Jet.AI Inc. Provides Non-Compliance Update As previously disclosed, On December 1, 2023, Jet.AI Inc. (the Company") received a letter from the Nasdaq Listing Qualifications Department (Nasdaq") notifying the Company that its amount of stockholders' equity fell below the $10 million required minimum for continued listing on The Nasdaq Global Market set forth in Nasdaq Listing Rule 5450(b)(1)(A) (the Listing Rule"). The Company timely submitted a compliance plan to Nasdaq and Nasdaq granted the Company an extension through May 29, 2024 to evidence completion of its plan. On May 30, 2024, the Company received a notice (the Notice") from Nasdaq indicating that the Company has not regained compliance with the minimum stockholders' equity requirement for continued listing under the Listing Rule. Management has completed an application to transfer to The Nasdaq Capital Market tier and filed both a registration statement and preliminary proxy statement in connection with the previously announced $16.5 million private placement transaction with Ionic Ventures LLC. Through the recent application to transfer to The Nasdaq Capital Market tier and the Ionic Ventures LLC private placement transaction, the Company expects to meet the Equity Standard of the Continued Listing Requirements of The Nasdaq Capital Market tier, which requires listed companies to maintain minimum stockholders' equity of $2.5 million. The Company has been actively executing its compliance plan, including utilizing its existing GEM facility, and the receipt of $1.5 million of the $16.5 million funding under the Ionic Ventures LLC private placement. The Notice indicates that, unless the Company requests an appeal hearing before the Nasdaq Hearings Panel (the Panel") by June 6, 2024, trading of the Company's common stock will be suspended at the opening of business on June 10, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company's securities from listing and registration on The Nasdaq Stock Market. The Company intends to timely request a hearing before the Panel and pay the applicable $20,000 fee to appeal the Notice. The Notice has no immediate effect on the listing or trading of the Company's common stock. The Company's hearing request will stay the suspension of trading on the Company's securities, and the Company's securities will continue to trade on The Nasdaq Global Market until the hearing process concludes and the Panel issues a written decision. While the Company can provide no assurances that the Panel will grant the Company's request for a suspension of delisting or continued listing on The Nasdaq Global Market after the hearing process concludes, the Company is working diligently and plans to regain compliance with the Listing Rule as soon as practicable. Should the Company regain compliance and receive a moot notice from Nasdaq in advance of the hearing before the Panel, then no hearing would take place. Reported Earnings • May 17
First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2024 results: US$0.28 loss per share. Revenue: US$3.85m (up 105% from 1Q 2023). Net loss: US$3.26m (loss widened 20% from 1Q 2023). Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 63% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Airlines industry in the US. New Risk • Apr 08
New major risk - Revenue and earnings growth Earnings have declined by 42% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$3.8m free cash flow). Share price has been highly volatile over the past 3 months (29% average weekly change). Negative equity (-US$2.2m). Earnings have declined by 42% per year over the past 5 years. Shareholders have been substantially diluted in the past year (116% increase in shares outstanding). Market cap is less than US$10m (US$7.56m market cap). Reported Earnings • Apr 04
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: US$1.99 loss per share (further deteriorated from US$0.063 loss in FY 2022). Revenue: US$12.2m (down 44% from FY 2022). Net loss: US$12.6m (loss widened 63% from FY 2022). Revenue exceeded analyst estimates by 8.4%. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 41% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Airlines industry in the US. New Risk • Feb 23
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 116% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$3.3m free cash flow). Share price has been highly volatile over the past 3 months (35% average weekly change). Negative equity (-US$2.6m). Shareholders have been substantially diluted in the past year (116% increase in shares outstanding). Market cap is less than US$10m (US$8.38m market cap). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (US$12m net loss in 2 years). Announcement • Jan 31
Jet.AI Inc. Launches Reroute AI Software to Intelligently Repurpose Empty Flight Legs for 5,000+ U.S. Part 135 Charter Operators Jet.AI Inc. announced the launch of Reroute AI - a web based software tool designed to transform the way empty flight legs are utilized, with a focus on passenger experience, profit optimization and environmental sustainability. By intelligently altering empty flight legs and repackaging them as new charter flights, operators utilizing Reroute AI stand to unlock additional profits without any new investment. New profits are partially derived from the fact that filling an otherwise empty plane reduces fuel consumption. Reroute AI allows operators to work with their own empty inventory or to purchase new charters constructed from empty legs of other operators. By prompting operators to enter a city pair, passenger load, travel date and profit minimum, Reroute AI has the power to create new itineraries that are more cost effective, efficient and consider of emissions. The empty return journey of a chartered jet is a common pain point in private aviation and Reroute AI allows the 5,000+ FAA Part 135 charter operators in the U.S. to easily repurpose one way inventory into new charter flights with the help of its algorithm. New Risk • Jan 20
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.38m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$3.3m free cash flow). Share price has been highly volatile over the past 3 months (35% average weekly change). Negative equity (-US$2.6m). Market cap is less than US$10m (US$9.38m market cap). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (US$12m net loss in 2 years). Reported Earnings • Nov 24
Third quarter 2023 earnings released: US$0.61 loss per share (vs US$0.45 loss in 3Q 2022) Third quarter 2023 results: US$0.61 loss per share (further deteriorated from US$0.45 loss in 3Q 2022). Revenue: US$3.37m (down 72% from 3Q 2022). Net loss: US$4.29m (loss widened 115% from 3Q 2022). New Risk • Nov 02
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.92m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (28% average weekly change). Negative equity (-US$525k). Earnings have declined by 49% per year over the past 5 years. Market cap is less than US$10m (US$9.92m market cap). Announcement • Sep 13
Jet.AI on Pace to Release Operator Platform and Four Software Features by Year End Jet.AI Inc. announced it is on track to deliver four new software features of its Operator Platform, designed to add revenue for private aircraft charter operators. Each product will be demonstrated in a webcast for the investment and broader aviation communities at the time of release. The timing of each of the four webcast demos will be provided in advance by the Company. DynoFlight's capital light Aviation Division features five key elements: Jet Aircraft Sales, Jet Card, On-Fleet Charter, Onboard Program, and Buyer's Brokerage. Aircraft sizes range from HondaJet Elite to Gulfstream G550. The Jet.AI fleet, composed of fuel-efficient light jets, is a popular and cost-effective solution for regional ad-hoc charter missions. Customers can charter Jet.AI aircraft by the hour, while the Company collects payment and can then provide a rebate to aircraft owners. DynoFlight is expected to provide a simple and credible way to offset emissions from 250 different types of aircraft in a working capital efficient manner. It is designed to deliver certificates of high-quality offset credits to customers and to enable aviation operators to track carbon emissions and to transact carbon removal credits in small (working capital efficient) quantities. Reroute is expected to transform empty flight legs into an opportunity to book a new charter by changing and dynamically allowing charter operators to reprice the legs. The feature allows an operator to work with its own empty inventory or to search for published empty legs by partner operators and to optimize which aircraft to utilize for a given city pair. Reroute is expected To increase revenue generating aircraft utilization for the more than 5,000 Part 135 charter operators in the U.S. Flight Club - November 2023 Flight Club - November 2023Flight Club is expected to enable Part 135 operators to function under U.S. Department of Transportation (DOT) Part 380, allowing them to sell private jet service by the seat instead of by the whole aircraft. It automates form filing for each flight with DOT, and helps smaller operators conform to DOT escrow requirements for ticketing and movement of customer funds - along with integration of ticketing and payment collection. This software provides an additional revenue and operational option for business aircraft while also providing customers with a prospectively less expensive pathway to business jet travel. Card Management and Billing - December 2023 Jet.AI's white label feature is expected to help charter operators make the leap to selling jet cards with minimal friction. The feature is being designed to provide customers with a portal to view current utilization, book future flights and view invoices and to remit payments directly. Reported Earnings • Aug 24
Second quarter 2023 earnings released: US$0.019 loss per share (vs US$0.008 loss in 2Q 2022) Second quarter 2023 results: US$0.019 loss per share (further deteriorated from US$0.008 loss in 2Q 2022). Revenue: US$2.79m (down 60% from 2Q 2022). Net loss: US$2.45m (loss widened 166% from 2Q 2022). Board Change • Aug 14
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 5 experienced directors. No highly experienced directors. Founder & Executive Chairman Mike Winston is the most experienced director on the board, commencing their role in 2018. 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 • Aug 11
Jet Token Inc. completed the acquisition of Oxbridge Acquisition Corp. (NasdaqCM:OXAC) from a group of shareholders in a reverse merger transaction. Jet Token Inc. signed a Letter of intent to acquire Oxbridge Acquisition Corp. (NasdaqCM:OXAC) from a group of shareholders in a reverse merger transaction on December 23, 2022. Jet Token Inc. entered into a definitive business combination agreement to acquire Oxbridge Acquisition Corp. from a group of shareholders for approximately $110 million in a reverse merger transaction on February 24, 2023. The transaction contemplates an enterprise value of approximately $45 million for Jet Token, and additional earnout warrants with a Black Scholes valuation of $60 million. The earnout warrants have a strike price of $15 and a term of 10 years. As such, Jet Token shareholders are expected to receive total mixed consideration of $105 million, or $0.72 per Jet Token share. The proposed business combination contemplates that Jet Token stockholders will roll 100% of their equity holdings into the combined company and will hold approximately 52.6% of the issued and outstanding shares of common stock of the combined company immediately following the consummation of the transaction, assuming no redemptions by Oxbridge’s existing shareholders. Transaction is expected to result in Jet Token becoming publicly listed. Upon the closing of the transaction, the combined company will be named Jet.AI Inc. and its securities are expected to be listed on Nasdaq Capital Markets. The combined company will operate under the same management team as Jet Token, which is led by Michael Winston, Founder and Executive Chairman of Jet Token.The transaction is subject to approval by the stockholders of Jet Token and Oxbridge; all required filings under the HSR Act having been completed and the any waiting period applicable to the consummation of the Transactions under the HSR Act having expired or terminated; the Registration Statement being declared effective and remaining in effect; Shares of combined company being listed on the Nasdaq Capital Market, or another national securities exchange mutually agreed to by the parties, as of the Closing Date; OXAC having at least $5,000,001 of net tangible asset; the period for exercising appraisal rights pursuant to Section 262 of the DGCL shall have lapsed; all members of OXAC's board shall have executed written resignations; OXAC shall have received employment agreements and other customary closing conditions. The transaction has been unanimously approved by the boards of directors of Jet Token and Oxbridge. As of July 31, 2023, Oxbridge Acquisition Corp schedules an extraordinary general meeting on August 4, 2023. As of August 7, 0223, Oxbridge Acquisition’s shareholders have approved the transaction. The proposed business combination is expected to be completed late in the second quarter of 2023. Maxim Group LLC is serving as sole financial advisor to Oxbridge. Loren D. Danzis, Stephen M. Cohen and Lauren W. Taylor of Fox Rothschild LLP serving as legal counsels for Jet Token, and Kate Bechen of Dykema Gossett PLLC serving as legal counsels for Oxbridge. Mark Zimkind of Continental Stock Transfer & Trust Company acted as transfer agent to Oxbridge. Karen Smith of Advantage Proxy acted as proxy solicitor to Oxbridge for a fee of $5,000, plus disbursements. Stanton Park Advisors LLC acted as fairness opinion provider to the board of Oxbridge and will receive a fee of $22,500 in connection with delivery of its Opinion. Dykema Gossett PLLC, Maxim Group LLC and Stanton Park Advisors LLC acted as due diligence providers to Oxbridge.Jet Token Inc. completed the acquisition of Oxbridge Acquisition Corp. (NasdaqCM:OXAC) from a group of shareholders in a reverse merger transaction on August 11, 2023.