flyExclusive, Inc. announced robust first quarter 2025 financial results, with revenue growing to $88.1 million, a 10.2% increase from $79.97 million in Q1 2024. This growth was broad-based, driven by increases in Jet Club, charter, and fractional ownership revenue.
The company's gross margin improved significantly to approximately 13% in Q1 2025, a 600 basis point improvement year-over-year, primarily attributed to the benefits of fleet modernization. Selling, General, and Administrative (SG&A) expenses also decreased by 16.7% compared to the prior year.
Adjusted EBITDA loss narrowed substantially to $6.3 million in Q1 2025, representing a $13 million, or nearly 70%, improvement compared to the $19.4 million loss in Q1 2024. Total flight hours increased by 6% year-over-year, and fractional ownership revenue surged by 112%.
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