Volato Reports $40.3 million in Revenue and Confirms NYSE Acceptance of Compliance Plan in Third Quarter 10-Q
Volato Group (NYSE American: SOAR) reported significant financial results in Q3 2024, with total revenue increasing by $36.6 million year-over-year. The growth was primarily driven by aircraft sales of $38.2 million from two HondaJet Elite IIs and one Gulfstream G280. Net loss improved to $1.3 million from $2.6 million, while Adjusted EBITDA reached $3.2 million.
The NYSE American accepted Volato's compliance plan, granting a period through December 18, 2025. The company is transitioning Fleet Operations to flyExclusive, reducing Insider Card deposit liability by $4.1 million. Additionally, Volato is expanding its Mission Control software platform, which has been adopted by a major industry operator, positioning it as a leading aviation management solution.
Volato Group (NYSE American: SOAR) ha riportato risultati finanziari significativi nel terzo trimestre del 2024, con un aumento del fatturato totale di 36,6 milioni di dollari rispetto all'anno precedente. La crescita è stata principalmente sostenuta dalle vendite di aerei che hanno raggiunto i 38,2 milioni di dollari, grazie alla vendita di due HondaJet Elite II e un Gulfstream G280. La perdita netta è migliorata a 1,3 milioni di dollari rispetto ai 2,6 milioni, mentre l'EBITDA rettificato ha raggiunto i 3,2 milioni di dollari.
La NYSE American ha accettato il piano di conformità di Volato, concedendo un periodo fino al 18 dicembre 2025. L'azienda sta trasferendo le operazioni di flotta a flyExclusive, riducendo la responsabilità sui depositi della Insider Card di 4,1 milioni di dollari. Inoltre, Volato sta espandendo la propria piattaforma software Mission Control, che è stata adottata da un importante operatore del settore, posizionandola come una soluzione leader nella gestione dell'aviazione.
Volato Group (NYSE American: SOAR) reportó resultados financieros significativos en el tercer trimestre de 2024, con un aumento de los ingresos totales de 36,6 millones de dólares en comparación con el año anterior. El crecimiento fue impulsado principalmente por ventas de aeronaves que alcanzaron los 38,2 millones de dólares gracias a la venta de dos HondaJet Elite II y un Gulfstream G280. La pérdida neta mejoró a 1,3 millones de dólares desde 2,6 millones, mientras que el EBITDA ajustado alcanzó los 3,2 millones de dólares.
La NYSE American aceptó el plan de cumplimiento de Volato, otorgando un plazo hasta el 18 de diciembre de 2025. La empresa está trasladando las Operaciones de Flota a flyExclusive, reduciendo la responsabilidad del depósito de la Insider Card en 4,1 millones de dólares. Además, Volato está ampliando su plataforma de software Mission Control, que ha sido adoptada por un importante operador de la industria, posicionándola como una solución líder en gestión de aviación.
볼라토 그룹 (뉴욕증권거래소 아메리칸: SOAR)이 2024년 3분기에 중요한 재무 결과를 보고했습니다. 총 수익이 전년 대비 3,660만 달러 증가했습니다. 성장은 주로 두 대의 혼다 제트 엘리트 II와 한 대의 걸프스트림 G280에서 발생한 항공기 판매로 인해 3,820만 달러에 달했습니다. 순손실은 260만 달러에서 130만 달러로 개선되었고, 조정 EBITDA는 320만 달러에 도달했습니다.
NYSE 아메리칸은 볼라토의 준수 계획을 승인하여 2025년 12월 18일까지의 기간을 부여했습니다. 이 회사는 항공기 운영을 flyExclusive로 전환하고 Insider Card 예치 책임을 410만 달러 줄이고 있습니다. 또한, 볼라토는 주요 산업 운영자가 채택한 미션 컨트롤 소프트웨어 플랫폼을 확장하고 있으며, 이를 항공 관리 솔루션의 선두 주자로 자리매김하고 있습니다.
Volato Group (NYSE American: SOAR) a rapporté des résultats financiers significatifs pour le troisième trimestre 2024, avec un chiffre d'affaires total augmentant de 36,6 millions de dollars par rapport à l'année précédente. La croissance a été principalement soutenue par des ventes d'avions de 38,2 millions de dollars issues de la vente de deux HondaJet Elite II et d'un Gulfstream G280. La perte nette s'est améliorée à 1,3 million de dollars contre 2,6 millions, tandis que l'EBITDA ajusté a atteint 3,2 millions de dollars.
La NYSE American a accepté le plan de conformité de Volato, accordant une période jusqu'au 18 décembre 2025. L'entreprise est en train de transférer les opérations de flotte à flyExclusive, réduisant la responsabilité des dépôts de la carte Insider de 4,1 millions de dollars. De plus, Volato élargit sa plateforme logicielle Mission Control, qui a été adoptée par un important opérateur du secteur, la positionnant comme une solution de gestion aéronautique de premier plan.
Volato Group (NYSE American: SOAR) berichtete über signifikante Finanzdaten im dritten Quartal 2024, mit einem Anstieg der Gesamteinnahmen um 36,6 Millionen Dollar im Jahresvergleich. Das Wachstum wurde hauptsächlich durch Flugzeugverkäufe in Höhe von 38,2 Millionen Dollar von zwei HondaJet Elite IIs und einem Gulfstream G280 vorangetrieben. Der Nettoverlust verbesserte sich von 2,6 Millionen auf 1,3 Millionen Dollar, während das bereinigte EBITDA 3,2 Millionen Dollar erreichte.
Die NYSE American akzeptierte den Compliance-Plan von Volato und gewährte eine Frist bis zum 18. Dezember 2025. Das Unternehmen überträgt die Flottenoperationen an flyExclusive und senkt die Haftung für die Insider Card-Einlage um 4,1 Millionen Dollar. Darüber hinaus erweitert Volato seine Mission Control Softwareplattform, die von einem großen Branchenbetreiber angenommen wurde, und positioniert sich damit als führende Lösung im Bereich Luftfahrtmanagement.
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Volato Group, Inc. (NYSE American: SOAR) (“Volato” or the “Company”), announced the filing of the third quarter 2024 Form 10-Q with the Securities and Exchange Commission (SEC). The Form 10-Q can be found at https://ir.flyvolato.com/financial-information/sec-filings or at www.sec.gov.
Third Quarter 2024 Financial Summary
Total revenue for the third quarter increased
Net loss from continuing operations for the third quarter improved to
NYSE Compliance
On September 5, 2024, the Company received notice from the NYSE American that it had accepted the Company's plan and granted a plan period through December 18, 2025. During the plan period the Company will be subject to quarterly review to determine if it is making progress consistent with the plan. If the Company does not regain compliance with the NYSE American listing standards by December 18, 2025, or if the Company does not make sufficient progress consistent with its plan, then the NYSE American may initiate delisting proceedings.
Path Forward
In the third quarter of 2024, Volato initiated the transition of its Fleet Operations to flyExclusive, with the transition anticipated to conclude in the fourth quarter of 2024. As part of this process, customer relationships, have been transferred from Volato to flyExclusive to ensure continuity and quality of service. This resulted in the reduction of Insider Card deposit liability of
As part of its turnaround, Volato is broadening the reach of its proprietary software, Mission Control, originally built specifically to support Volato’s operations as a large-scale operator. Now chosen by one of the industry’s largest operators, Mission Control has proven its flexibility and effectiveness in addressing varied operational needs. This choice over existing commercial software underscores a significant gap in the market—most available software doesn’t meet the specialized requirements of large operators, leaving only a few with the capacity to create custom solutions.
This adoption by a top-tier operator not only confirms Mission Control’s adaptability but also serves as a proof of concept for broader industry use. Volato aims to extend Mission Control to other operators who need a strong, adaptable management solution, positioning it as a leading choice in aviation software.
About Volato
Volato (NYSE American: SOAR) is an aviation company advancing the industry with innovative solutions in aviation software and on-demand flight access. Volato’s proprietary Mission Control software drives efficiency across operations and supports operators in managing fractional ownership, charter, and other services. Volato’s Vaunt platform connects travelers with available private flights, offering a flexible option for on-demand travel. With a commitment to advanced technology and customer-focused solutions, Volato is building scalable tools to elevate service quality and operational effectiveness in private aviation. For more information visit www.flyvolato.com.
All Volato Part 135 charter flights are operated by its DOT/FAA-authorized air carrier subsidiary (G C Aviation, Inc. d/b/a Volato) or by an approved vendor air carrier.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "projects," "forecasts," "targets," "would," "will," "should," "goal," "could" or "may" or other similar expressions. Forward-looking statements provide management or the Board’s current expectations or predictions of future conditions, events, or results. All statements that address operating performance, events, or developments that may occur in the future are forward-looking statements, including statements regarding the challenges associated with executing our growth strategy, including expected deliveries of aircraft and related sales, and developing, marketing and consistently delivering high-quality services that meet customer expectations. All forward-looking statements speak only as of the date they are made and reflect the Company’s good faith beliefs, assumptions, and expectations, but they are not guarantees of future performance or events. Furthermore, Volato disclaims any obligation to publicly update or revise any forward-looking statement, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive, and regulatory factors, many of which are beyond Volato’s control, that are described in Volato’s periodic reports filed with the SEC including its Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2023, and other factors that Volato may describe from time to time in other filings with the SEC. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.
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Source: Volato Group, Inc.
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