JetAI (JTAI) AI Stock Analysis

• Market Cap: $3.06M
• Dividend Yield: N/A
• Average Volume (3M): 160.62K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.23
• Revenue Growth: -29.57%
• EPS Growth: 97.70%
• Country: US
• Employees: 8
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): -0.59
• Shares Outstanding: 4,227,256
• 10 Day Avg. Volume: 289,888
• 30 Day Avg. Volume: 160,622
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.19
• Price to Sales (P/S): 0.09
• P/FCF Ratio: -0.15
• Enterprise Value/Market Cap: 0.63
• Enterprise Value/Revenue: 0.18
• Enterprise Value/Gross Profit: -2.09
• Enterprise Value/Ebitda: -0.18
• 1Y Price Target: $8.00
• Price Target Upside: 830.23% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: $0.69 ▼(-19.65% Downside)

The score is primarily weighed down by weak financial performance (declining revenue, severe losses, negative cash generation and ROE). Technicals also remain bearish with price far below key moving averages and a negative MACD, despite oversold readings. Valuation is difficult to support due to negative earnings (negative P/E), and corporate events are mixed with both strategic flexibility and capital-raising uncertainty.

Positive Factors

Low leverage and strong equity base

A very low debt-to-equity ratio and a high equity ratio provide durable financial flexibility, reducing insolvency risk and allowing the company to pursue strategic initiatives or complete a merger without heavy fixed-interest burdens. This supports multi-month runway and optionality during execution.

Diverse recurring revenue streams

Multiple revenue channels—software licensing, subscriptions, consulting and strategic partnerships—create recurring and diversified income sources. This structural mix helps stabilize revenue volatility, enables cross-selling into airline customers, and supports scalable long-term unit economics if retention improves.

Management retention and incentive alignment

Contract amendments locking in leadership through 2028 and linking pay to market-cap and change-of-control align management with successful merger execution and shareholder outcomes. This lowers execution risk around the flyExclusive deal and preserves institutional knowledge during integration.

Negative Factors

Declining revenue and deep operating losses

Sustained revenue contraction alongside deeply negative margins signals structural product-market fit or go-to-market issues. Persistent losses erode equity, limit reinvestment capacity for R&D and sales, and make it harder to demonstrate a path to sustainable profitability over the next several quarters.

Negative operating cash flow and weak cash conversion

Negative operating cash flow indicates the business is not converting reported revenue into cash, straining liquidity and increasing reliance on external financing. Even if free cash flow grew off a negative base, weak cash conversion undermines sustainable growth and heightens short-to-medium-term financing risk.

Capital-raising uncertainty and potential dilution

Withdrawing a planned public offering and relying on limited ATM capacity or private adjustments signals difficulty executing envisioned funding. This uncertainty raises the likelihood of dilutive financings or onerous deal terms, complicating execution of strategy and reducing long-term shareholder value if growth remains cash-intensive.

JetAI Business Overview & Revenue Model

Company Description

Jet.AI Inc. primarily engages in the development and operation of private aviation platforms. The company operates CharterGPT, a booking platform that functions as a prospecting and quoting platform to arrange private jet travel with its aircrafts and third-party carriers. It also provides Flight Club API, an aviation software, that enables FAA Part 135 operators to function simultaneously under FAA Part 380 which permits sale of private jet service by the seat instead of by whole aircraft. In addition, the company offers Reroute software, that recycles aircraft waiting to return to base into prospective new charter bookings to destinations within specific distances. Further, it is involved in the aircraft charter, management, and brokerage services. The company was founded in 2018 and is headquartered in Las Vegas, Nevada.

How the Company Makes Money

JetAI generates revenue through multiple streams, primarily by selling its software solutions and subscription services to airlines and aviation service providers. The company charges licensing fees for its proprietary software, which provides predictive analytics and optimization tools to enhance flight operations. Additionally, JetAI offers consulting services to help clients implement AI technology effectively, further contributing to its revenue. Strategic partnerships with major aviation companies and technology firms enable JetAI to expand its market reach and enhance its service offerings, thereby driving additional income through collaborative projects and joint ventures.

JetAI Financial Statement Overview

Summary

JetAI is facing significant financial challenges. The company is struggling with declining revenues, negative profitability margins, and operational inefficiencies. While the balance sheet shows low leverage, the negative return on equity and past equity deficits raise concerns about financial stability. Cash flow issues persist, with negative operating cash flows and free cash flows.

Income Statement

JetAI's income statement reveals significant challenges. The company has experienced a negative revenue growth rate of -17.25% in the TTM period, indicating a decline in sales. Gross profit margin and net profit margin are both negative, at -5.08% and -92.55% respectively, reflecting substantial losses. EBIT and EBITDA margins are also deeply negative, suggesting operational inefficiencies. Overall, the income statement highlights severe profitability issues and declining revenue trends.

Balance Sheet

The balance sheet shows a relatively low debt-to-equity ratio of 0.067 in the TTM period, indicating low leverage, which is a positive aspect. However, the return on equity is highly negative at -179.14%, pointing to poor returns for shareholders. The equity ratio stands at 71.59%, suggesting a strong equity base relative to total assets. Despite low leverage, the negative ROE and past equity deficits highlight financial instability.

Cash Flow

JetAI's cash flow statement indicates a challenging cash position. The operating cash flow to net income ratio is negative, at -2.92, suggesting that the company is not generating sufficient cash from operations relative to its net losses. The free cash flow growth rate is positive at 44.87% in the TTM period, but this is from a negative base, indicating ongoing cash flow issues. The free cash flow to net income ratio is close to 1, showing that free cash flow is almost equivalent to net losses, which is concerning.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	10.58M	14.02M	12.21M	21.86M	1.11M	4.78K
Gross Profit	-923.22K	-964.62K	-178.53K	2.06M	-271.00K	4.78K
EBITDA	-10.83M	-12.56M	-12.38M	-7.60M	-15.84M	0.00
Net Income	-10.92M	-12.73M	-12.62M	-7.74M	-15.77M	-2.56M
Balance Sheet
Total Assets	12.89M	10.80M	5.74M	4.91M	2.14M	3.21M
Cash, Cash Equivalents and Short-Term Investments	3.48M	5.87M	2.10M	1.53M	643.49K	2.22M
Total Debt	628.65K	1.02M	2.12M	2.03M	194.73K	121.00K
Total Liabilities	3.66M	4.28M	9.68M	4.15M	1.24M	406.19K
Stockholders Equity	9.23M	6.51M	-3.94M	751.84K	897.47K	2.80M
Cash Flow
Free Cash Flow	-12.30M	-8.24M	-3.84M	-96.04K	-2.72M	-2.29M
Operating Cash Flow	-12.30M	-8.23M	-3.78M	-96.04K	-2.61M	-1.63M
Investing Cash Flow	-4.62M	-2.41M	-191.00K	290.49K	-546.13K	-978.66K
Financing Cash Flow	20.09M	14.41M	4.55M	689.45K	1.58M	4.73M

JetAI Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.86
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JTAI, the sentiment is Negative. The current price of 0.86 is below the 20-day moving average (MA) of 0.96, below the 50-day MA of 1.54, and below the 200-day MA of 3.10, indicating a bearish trend. The MACD of -0.29 indicates Negative momentum. The RSI at 32.91 is Neutral, neither overbought nor oversold. The STOCH value of 17.62 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JTAI.

JetAI Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NOC	76 Outperform	$84.32B	22.21	26.15%	1.55%	-0.14%	72.35%
HON	75 Outperform	$130.30B	21.85	35.85%	2.24%	7.48%	9.55%
HO	73 Outperform	€54.67B	79.99	14.51%	1.66%	11.16%	-50.57%
GE	72 Outperform	$331.68B	42.88	42.74%	0.48%	-19.21%	31.83%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
BA	54 Neutral	$183.65B	―	―	―	10.19%	-6.03%
JTAI	41 Neutral	$3.06M	-0.13	-518.36%	―	-29.57%	97.70%

JetAI Corporate Events

Jet.AI Amends Executive Contracts Ahead of FlyExclusive Deal

On December 31, 2025, Jet.AI Inc. amended and restated employment agreements with Executive Chairman and Interim CEO Michael Winston and Interim CFO George Murnane, setting initial terms through December 31, 2028, with automatic one-year renewals thereafter, and establishing base salaries effective January 1, 2026, of $425,000 for Winston and $300,000 for Murnane, subject to annual CPI-linked increases and discretionary merit raises. The new contracts tie significant compensation upside to Jet.AI’s market capitalization, with automatic salary increases if post-financing valuation thresholds of $100 million to $250 million are met, provide eligibility for discretionary annual cash bonuses equal to 100% of salary (partly payable in stock), full equity vesting on a change of control, and substantial severance and bonus protections if either executive is terminated without cause or resigns for good reason, including multi-year salary and bonus payouts and benefits, underscoring the company’s effort to secure and incentivize key leadership ahead of the anticipated change of control transaction with flyExclusive, Inc.

The most recent analyst rating on (JTAI) stock is a Sell with a $0.62 price target. To see the full list of analyst forecasts on JetAI stock, see the JTAI Stock Forecast page.

JetAI Withdraws Planned Public Offering Amid Strategic Shift

On December 1, 2025, Jet.AI, Inc., a Delaware corporation, filed a registration statement with the U.S. Securities and Exchange Commission for a proposed public offering of its common stock but later decided not to proceed. The company withdrew the registration statement on December 30, 2025, citing changed circumstances, clarified that no securities had been sold and the filing was never declared effective, and indicated that it no longer intends to pursue the contemplated public offering, signaling a shift in its capital-raising or strategic plans.

The most recent analyst rating on (JTAI) stock is a Hold with a $0.82 price target. To see the full list of analyst forecasts on JetAI stock, see the JTAI Stock Forecast page.

JetAI shareholders approve charter changes and incentive plan

Jet.AI Inc. held its 2025 Annual Meeting of Stockholders virtually via live audio webcast on December 19, 2025, with holders of its common stock and Series B convertible preferred stock representing 47.41% of eligible voting power constituting a quorum. At the meeting, shareholders elected two Class II directors, Wrendon Timothy and William Yankus, to terms running until the 2028 annual meeting, ratified Hacker Johnson & Smith PA as independent auditor for the fiscal year ending December 31, 2025, and approved an Incentive Plan Amendment effective December 19, 2025. Investors also backed the potential issuance of common shares tied to a warrant from the Hexstone transaction that could exceed 20% of outstanding shares, approved a Charter Amendment to be made effective upon filing in Delaware, and granted the board discretion to implement a reverse stock split at a ratio between 1-for-2 and 1-for-250, enhancing the company’s flexibility to manage its capital structure. Shareholders further authorized a possible adjournment of the meeting to secure additional votes if needed, though this authority was ultimately not used because all proposals received sufficient support.

The most recent analyst rating on (JTAI) stock is a Hold with a $0.82 price target. To see the full list of analyst forecasts on JetAI stock, see the JTAI Stock Forecast page.

JetAI Modifies Convertible Stock Agreement with Ionic Ventures

Jet.AI Inc. entered into a letter agreement with Hexstone Capital, LLC and Ionic Ventures, LLC on December 2, 2025, which pertains to a prior Securities Purchase Agreement from March 28, 2024. The agreement includes Ionic’s consent to refrain from enforcing certain legal rights, in exchange for Jet.AI’s amendment to the conversion price of its Series B convertible preferred stock, allowing conversion at a lower price. This move could potentially impact the company’s financial operations and market positioning by making its stock more attractive to investors.

The most recent analyst rating on (JTAI) stock is a Sell with a $1.50 price target. To see the full list of analyst forecasts on JetAI stock, see the JTAI Stock Forecast page.

JetAI Signs Equity Distribution Agreement with Maxim Group

On November 21, 2025, Jet.AI Inc. entered into an Equity Distribution Agreement with Maxim Group LLC to act as its sole sales agent for offering and selling up to $10,000,000 worth of its common stock. The agreement allows for sales to be made at market prices on the Nasdaq Stock Market, with the company retaining flexibility on the timing and amount of sales. The agreement will terminate upon reaching the $10,000,000 sales cap, termination by either party, or by November 21, 2026. As of the report date, Jet.AI has sold 10,000 shares under this agreement.

The most recent analyst rating on (JTAI) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on JetAI stock, see the JTAI Stock Forecast page.

JetAI Extends Merger Agreement with flyExclusive

Jet.AI and flyExclusive have extended the closing date of their merger agreement to December 31, 2025, due to a U.S. government shutdown affecting SEC reviews. Despite this delay, both companies remain committed to completing the merger, which involves Jet.AI’s SpinCo merging with flyExclusive’s subsidiary, with SpinCo becoming a wholly owned subsidiary of flyExclusive.

The most recent analyst rating on (JTAI) stock is a Sell with a $3.00 price target. To see the full list of analyst forecasts on JetAI stock, see the JTAI Stock Forecast page.