Volato Group, Inc. SEC 10-Q Report

Volato Group, Inc., a company specializing in the sale of aircraft and software-as-a-subscription products, has released its Form 10-Q report for the third quarter of 2025. The report provides a comprehensive overview of the company's financial performance and operational highlights, reflecting both the challenges and achievements faced during the period.

Financial Highlights

Revenue: Volato Group, Inc. reported revenue of $381 thousand for the three months ended September 30, 2025, and $50,719 thousand for the nine months ended September 30, 2025. The significant decrease in quarterly revenue compared to the previous year is primarily due to the transition of aircraft operations to flyExclusive.

Operating (loss) income: The company experienced an operating loss of $(2,564) thousand for the three months ended September 30, 2025, but reported an operating income of $834 thousand for the nine months ended September 30, 2025. The quarterly operating loss reflects higher selling, general, and administrative expenses.

Net income: Net income for the three months ended September 30, 2025, was $7,145 thousand, and for the nine months ended September 30, 2025, it was $11,202 thousand. This includes significant other income from settlements of deposits and other liabilities.

Net income per share, basic: The basic net income per share was $1.42 for the three months ended September 30, 2025, and $2.60 for the nine months ended September 30, 2025. The increase in net income per share is attributed to the overall net income improvement.

Net income per share, diluted: The diluted net income per share was $1.26 for the three months ended September 30, 2025, and $2.46 for the nine months ended September 30, 2025. The diluted EPS reflects the impact of potential share conversions.

Business Highlights

Revenue Segments: The company generates revenue primarily through the sale of aircraft and its Vaunt software-as-a-subscription product. Revenue from aircraft sales is recognized upon delivery, while subscription revenue is recognized over the term of the software subscription.

Geographical Performance: Volato Group, Inc. derives its revenue primarily in North America, managing its business activities on a consolidated basis.

Sales Units: The company has taken delivery of multiple Gulfstream G280 aircraft, with the first delivered in the third quarter of 2024, the second in January 2025, and the third in April 2025. The fourth is expected in the fourth quarter of 2025.

New Product Launches: In the fourth quarter of 2023, the company commercially launched Vaunt, a proprietary consumer-facing empty leg platform.

New Production Launches: The company began development of an Artificial Intelligence-based software platform in July 2025, designed to enhance the reliability of large language models when analyzing contracts, SEC filings, and other structured documents.

Future Outlook: Volato Group, Inc. plans to fund its operations through the issuance of financial instruments and revenues from operations, including the sale of aircraft at a premium to cost. Management believes that its current cash position, along with anticipated margins from aircraft sales and proceeds from future financings, will allow the company to continue as a going concern for at least one year.

SEC Filing: Volato Group, Inc. [ SOAR ] - 10-Q - Nov. 13, 2025