flyExclusive (FLYX)
XASE:FLYX
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flyExclusive
(NYSE MKT:FLYX)
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Rating:54Neutral
Price Target:
$2.50
▼(-26.69% Downside)
Action:Reiterated
Date:06/01/26
The score is held down primarily by pressured financial fundamentals—ongoing losses, negative free cash flow, and a highly stressed balance sheet with negative equity. Offsetting this, the latest earnings call points to meaningful operational improvement and better margins with constructive directional guidance, while technicals are moderately supportive in the near term but still weak on longer-term trend. Valuation remains unattractive due to negative earnings and no dividend support in the provided data.
Positive Factors
Rapid Revenue & Margin Recovery
Sustained top-line expansion and recent margin expansion reflect stronger unit economics and pricing power. Higher revenue scale plus improving gross and adjusted EBITDA margins suggest the company can convert growth into durable operating leverage, supporting future path to sustained profitability.
Negative Factors
Stressed Balance Sheet
Deep negative equity and material debt limit financial flexibility and raise refinancing and covenant risks. This structural capital weakness constrains ability to invest in growth, absorb shocks, or exploit market opportunities without dilutive or costly external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Rapid Revenue & Margin Recovery
Sustained top-line expansion and recent margin expansion reflect stronger unit economics and pricing power. Higher revenue scale plus improving gross and adjusted EBITDA margins suggest the company can convert growth into durable operating leverage, supporting future path to sustained profitability.
Read all positive factors
flyExclusive (FLYX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$226.64M
Dividend YieldN/A
Average Volume (3M)15.07K
Price to Earnings (P/E)―
Beta (1Y)0.85
Revenue Growth14.51%
EPS Growth28.04%
CountryUS
Employees120
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)-1.02
Shares Outstanding46,104,300
10 Day Avg. Volume17,152
30 Day Avg. Volume15,067
Financial Highlights & Ratios
PEG Ratio1.13
Price to Book (P/B)-0.37
Price to Sales (P/S)0.30
P/FCF Ratio-4.62
Enterprise Value/Market Cap1.86
Enterprise Value/Revenue1.10
Enterprise Value/Gross Profit8.93
Enterprise Value/Ebitda-20.31
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.2
Revenue Forecast (FY)$407.08M
flyExclusive Business Overview & Revenue Model
Company Description
flyExclusive, Inc., headquartered in Kinston, North Carolina, is a worldwide proprietor and operator of private jet fleets. The company's comprehensive services encompass on-demand jet charter flights, unique ownership and leaseback programs desig...
How the Company Makes Money
flyExclusive makes money primarily by selling private jet transportation and related aviation services. Key revenue streams include: (1) On-demand charter revenue: customers pay for private flights on a trip-by-trip basis, typically priced based o...
flyExclusive Earnings Call Summary
Earnings Call Date:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 19, 2026
Earnings Call Sentiment Positive
The call emphasized meaningful operational and financial progress from a completed fleet transformation, with double-digit improvements in several operating metrics (dispatch availability, utilization, margins) and growth in contracted, fractional, wholesale and MRO revenues. Management highlighted deleveraging progress, membership expansion and strategic technology and M&A integrations. Headwinds include higher fuel costs, weather-related disruption, remaining legacy aircraft drag and a still-thin adjusted EBITDA dollar amount. On balance, positive structural improvements and multiple sizable metric gains outweigh near-term challenges.Positive Updates
Revenue Growth
Total consolidated revenue of approximately $96.3 million in 1Q26, a year-over-year increase of ~9%.
Negative Updates
Slim Adjusted EBITDA Despite Improvement
Adjusted EBITDA was positive but only ~$200,000 in 1Q26 (margin ~0.2%), indicating profitability is still nascent and fragile despite year-over-year improvement of ~$6.6 million.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth
Total consolidated revenue of approximately $96.3 million in 1Q26, a year-over-year increase of ~9%.
Read all positive updates
Company Guidance
Management did not give formal full‑year guidance but gave clear directional guidance: every quarter of 2026 is expected to outperform the comparable 2025 quarter on revenue, adjusted EBITDA and flight hours, with Q2 revenue projected to be roughly 15% higher than Q1; they expect to add ~20 aircraft in 2026 (primarily CJ3s, XLS+s and Challengers) and have deposits on 3 CJ3+ delivering early 2027, plan to more than double mobile service units to 30, and to continue closing the GenAI and Volato/Contrails transactions. Key metrics cited to support this outlook include Q1 revenue of ≈$96.3M (flight revenue ≈$92.5M), flight hours of 18,537 (+7% YoY), core fleet utilization of 75 hours/aircraft/month (up from 65, +15%), fractional retail sales up 47% YoY (total fractional retail activity +27%, ≈$14M), Jet Club sales ≈$25.8M (renewals $16.6M, new >$9M), MRO external revenue ≈$2M (+14% YoY), >1,000 members contributing to revenue, contribution margin 50.5% (vs. 46.9%, +360 bps), gross profit ≈$19.1M (+69% YoY) and gross margin 20% (+700 bps), dispatch availability improvement ~7.6% YoY (≈760 bps; each 1 ppt ≈$2.5M annual contribution, so ~7.6 ppt ≈$19M annualized opportunity), adjusted EBITDA ≈$0.2M vs. a loss of ~$6.4M in Q1 2025 (improvement ~$6.6M; margin 0.2% vs. -7.2%, +740 bps), long‑term notes reduced ≈$10M in Q1 (≈$86M reduction in 2025), fleet aircraft value ≈$522M with $145M directly owned and ~$112M debt on directly owned fleet (~$33M equity), ~ $98M ATM availability, and cash & cash equivalents reported at ≈$18.7B (per the call).flyExclusive Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
18
Very Negative
Cash Flow
30
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 384.10M | 375.88M | 327.27M | 315.36M | 320.04M | 208.28M |
| Gross Profit | 47.29M | 32.66M | 37.06M | 24.20M | 41.49M | 31.69M |
| EBITDA | -20.79M | -26.33M | -54.56M | -5.53M | 27.25M | 23.81M |
| Net Income | -18.70M | -17.59M | -21.07M | -46.84M | 6.05M | 8.09M |
Balance Sheet | ||||||
| Total Assets | 449.32M | 440.00M | 538.29M | 521.03M | 494.22M | 225.97M |
| Cash, Cash Equivalents and Short-Term Investments | 19.62M | 29.34M | 97.23M | 82.86M | 92.63M | 319.22K |
| Total Debt | 236.79M | 243.17M | 315.66M | 312.63M | 300.46M | 71.94K |
| Total Liabilities | 521.83M | 524.27M | 549.96M | 485.70M | 446.80M | 15.62M |
| Stockholders Equity | -192.38M | -298.79M | -195.74M | 46.46M | -5.12M | 210.36M |
Cash Flow | ||||||
| Free Cash Flow | -39.98M | -24.25M | -68.09M | -75.77M | -100.85M | -8.74M |
| Operating Cash Flow | 16.91M | 6.69M | -10.93M | 8.66M | 45.64M | 57.21M |
| Investing Cash Flow | 36.27M | 115.55M | -7.87M | -62.03M | -167.27M | -70.79M |
| Financing Cash Flow | -49.27M | -124.59M | 38.87M | 41.81M | 123.67M | 21.21M |
flyExclusive Technical Analysis
Negative
3.41
Price Trends
2.39
Negative
2.48
Negative
3.24
Negative
Market Momentum
0.02
Positive
42.82
Neutral
25.98
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FLYX, the sentiment is Negative. The current price of 3.41 is above the 20-day moving average (MA) of 2.49, above the 50-day MA of 2.39, and above the 200-day MA of 3.24, indicating a bearish trend. The MACD of 0.02 indicates Positive momentum. The RSI at 42.82 is Neutral, neither overbought nor oversold. The STOCH value of 25.98 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FLYX.
flyExclusive Risk Analysis
flyExclusive disclosed 67 risk factors in its most recent earnings report. flyExclusive reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
flyExclusive Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
54 Neutral | $226.64M | -3.44 | 6.87% | ― | 14.51% | 28.04% | |
54 Neutral | $294.86M | 24.84 | 2.83% | ― | 6.19% | ― | |
52 Neutral | $1.39B | -3.79 | -88.57% | ― | -0.47% | -632.83% | |
50 Neutral | $111.46M | -0.21 | 140.66% | ― | -3.24% | 35.57% |
* Industrials Sector Average
FLYX
flyExclusive
2.36
-0.51
-17.77%
ASLE
AerSale Corporation
6.24
0.14
2.30%
ULCC
Frontier Group Holdings
6.07
2.32
61.87%
SRFM
Surf Air Mobility, Inc.
1.11
-1.12
-50.22%
flyExclusive Corporate Events
Business Operations and StrategyM&A Transactions
flyExclusive Issues Equity to Acquire Volato Tech Assets
Positive
Mar 12, 2026
On March 6, 2025, flyExclusive and Volato Group executed a fifth amendment to their Aircraft Management Services Agreement, refining reciprocal asset options that allow either party to trigger the purchase and sale of designated “Vaunt”...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.