Jet AI (JTAI) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was $1.7 million, down from $3.5 million in Q1 2025, reflecting the wind-down of aviation assets ahead of a planned sale to flyExclusive and a strategic pivot to AI data center operations and SaaS offerings.

• Net loss for Q1 2026 was $2.7 million, an improvement from a $3.2 million net loss in Q1 2025, driven by lower operating expenses and a $184,000 gain in other income.

• Ended Q1 2026 with $13.5 million in cash and no debt, up from $1.8 million at year-end 2025.

• Completed a 1-for-200 reverse stock split in April 2026 to regain Nasdaq compliance.

• Acquired a $5.25 million economic interest in SpaceX preferred stock, with potential upside from a rumored IPO.

Financial highlights

• Q1 2026 revenue: $1.7 million (down $1.8 million year-over-year).

• Gross loss: $234,000 in Q1 2026 vs. $116,000 in Q1 2025.

• Operating loss: $2.9 million in Q1 2026 vs. $3.2 million in Q1 2025.

• Net loss per share: $(6.68) in Q1 2026 vs. $(370.43) in Q1 2025 (reflecting the reverse split).

• Ended Q1 2026 with total assets of $39.4 million, up from $25.7 million at year-end 2025.

Outlook and guidance

• Expects to close the sale of its aviation business to flyExclusive in Q2 2026 and will focus on AI data center infrastructure post-transaction.

• Anticipates continued operating losses for at least the next 12 months, with plans to fund operations through cash on hand and potential equity or debt sales.

• Ongoing power study for Moapa data center and robust pipeline of North American projects.