--- title: "VOLATO GROUP INC C/WTS 04/12/2028(TO PUR COM) | 10-Q: FY2026 Q1 Revenue: USD 997 K" type: "News" locale: "en" url: "https://longbridge.com/en/news/286632503.md" datetime: "2026-05-16T04:07:58.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286632503.md) - [en](https://longbridge.com/en/news/286632503.md) - [zh-HK](https://longbridge.com/zh-HK/news/286632503.md) --- # VOLATO GROUP INC C/WTS 04/12/2028(TO PUR COM) | 10-Q: FY2026 Q1 Revenue: USD 997 K Revenue: As of FY2026 Q1, the actual value is USD 997 K. EPS: As of FY2026 Q1, the actual value is USD -0.18. EBIT: As of FY2026 Q1, the actual value is USD -2.374 M. VOLATO GROUP, INC. operates in a single reportable segment encompassing private aviation services, including airplane sales and software-as-a-service subscriptions . #### Segment Revenue Total revenue decreased by - $24,486 thousand (-96%) to $997 thousand for the three months ended March 31, 2026, compared to $25,483 thousand in the same period of 2025 . This decline was primarily driven by a - $25,100 thousand decrease in aircraft sales, as the company did not deliver aircraft in 2026, offset by a $614 thousand (160%) increase in subscription-based revenue, mainly from the Vaunt platform . Revenue Category Three Months Ended March 31, 2026 (in thousands) Three Months Ended March 31, 2025 (in thousands) Change (in thousands) Change (%) Aircraft Sales $0 $25,100 \- $25,100 \-100% Subscription $997 $383 $614 160% **Total Revenue** **$997** **$25,483** **\- $24,486** **\-96%** #### Operational Metrics **Cost of Revenue** decreased by - $20,693 thousand (-99%) to $294 thousand for the three months ended March 31, 2026, from $20,987 thousand in the prior year, mainly due to fewer aircraft sales . Cost Category Three Months Ended March 31, 2026 (in thousands) Three Months Ended March 31, 2025 (in thousands) Change (in thousands) Change (%) Aircraft Sales $0 $20,930 \- $20,930 \-100% Subscription $294 $57 $237 416% **Total Cost of Revenue** **$294** **$20,987** **\- $20,693** **\-99%** **Gross Margin** for the three months ended March 31, 2026, was $703 thousand (approximately 70.5%), compared to $4,496 thousand (approximately 17.6%) in the same period of 2025 . **Selling, General and Administrative (SG&A)** expenses increased by $1,080 thousand (55%) to $3,050 thousand in 2026 from $1,970 thousand in 2025 . This increase was primarily attributed to a $0.5 million rise in accounting, legal, and professional fees related to the merger with M2i, a $0.4 million increase in professional fees and software development for the Vaunt platform, and a $0.2 million increase in salaries and wages for the Parslee platform . **Operating Income (Loss)** for the three months ended March 31, 2026, was - $2,347 thousand, a - $4,873 thousand (-193%) decrease from $2,526 thousand in the prior year . The **Operating Margin** was approximately -235.4% in 2026, compared to approximately 9.9% in 2025 . **Net Income (Loss)** was - $2,634 thousand for the three months ended March 31, 2026, a - $3,089 thousand (-679%) decrease from $455 thousand in the same period of 2025 . **Other Income (Expenses)** included a $1,094 thousand gain on the sale of the Mission Control software in 2026 (compared to $0 in 2025) . There was a - $1,378 thousand loss from the change in fair value of financial instruments in 2026, including - $0.8 million loss on M2i investment, - $174 thousand loss on flyExclusive investment, - $0.3 million loss on aviation asset, and - $60 thousand loss on Convertible Notes, compared to a - $849 thousand loss in 2025 . Net interest income (expense) was $27 thousand in 2026, a significant improvement from - $2,400 thousand in 2025 . #### Cash Flow **Net Cash Used in Operating Activities** was - $2,573 thousand for the three months ended March 31, 2026, an increase from - $312 thousand in the same period of 2025 . **Net Cash Used in Investing Activities** was - $176 thousand in 2026, primarily for the purchase of property and equipment, compared to $21 thousand in 2025, which was mainly from the sale of property and equipment . **Net Cash Used in Financing Activities** was - $46 thousand in 2026, mainly for costs of share issuances, while in 2025 it was - $1,133 thousand, primarily for loan repayments . #### Unique Metrics **Software Development** saw $172 thousand in capitalized internal software development costs for the three months ended March 31, 2026, compared to $0 in 2025 . Amortization expense for computer software development was $27 thousand in 2026, down from $48 thousand in 2025 . Website development costs amortization remained consistent at $24 thousand for both periods . **Contract assets, net** were $820 thousand as of March 31, 2026, up from $636 thousand as of December 31, 2025, with $455 thousand capitalized and - $271 thousand amortized during the first quarter of 2026 . #### Future Outlook and Strategy **Core Business Focus**: VOLATO GROUP, INC. aims to provide convenient, high-quality private travel through appropriate aircraft and proprietary technology for a seamless experience . The company has shifted its aircraft ownership program fleet operations to flyExclusive to reduce operational burdens and concentrate on high-growth areas like aircraft sales and proprietary software products, including the Vaunt platform . **Non-Core Business and Strategic Initiatives**: The company entered into a Merger Agreement with M2i Global, Inc. in July 2025, focusing on critical minerals, with M2i stockholders expected to own approximately 85% of the combined company upon consummation, a merger approved by shareholders on May 7, 2026 . Additionally, in July 2025, the company began developing an enterprise AI platform to automate workflows and synthesize information across systems, including deterministic document processing . The company also sold certain unused intellectual property assets to flyExclusive for $1.3 million in March 2026, with potential for further sales of remaining assets . **Liquidity and Funding Strategy**: Given a net loss of approximately - $2.6 million and a working capital deficit of approximately - $0.3 million for the three months ended March 31, 2026, management plans to fund operations through future debt and/or equity financings, including issuing convertible notes (with $24.78 million remaining capacity) and potential additional sales of equity or debt securities via its at-the-market sales program . In April 2026, the company received $3.6 million in net proceeds from this program . A plan to regain compliance with NYSE American listing standards by December 17, 2026, was submitted on April 16, 2026 . ### Related Stocks - [SOARW.US](https://longbridge.com/en/quote/SOARW.US.md) ## Related News & Research - [Volato Group Shareholders Approve Merger with M2i Global | SOAR Stock News](https://longbridge.com/en/news/285560955.md) - [AT&T Reaffirms Q2, Long-Term Outlook](https://longbridge.com/en/news/286888080.md) - [Sutro Biopharma: Buy Rating on Strong ADC Execution, Cash Runway Into 2028, and Multiple 2026 Catalysts](https://longbridge.com/en/news/286599325.md) - [Freshworks furnishes Refresh 2026 investor presentation, raises 2028 ARR target by $100M](https://longbridge.com/en/news/286464866.md) - [Encompass Health issues notice for partial redemption of its 4.500% senior notes due 2028 | EHC Stock News](https://longbridge.com/en/news/286464615.md)