flyExclusive Reports Record Revenue and Positive EBITDA in Q4 2025
flyExclusive, one of the largest private jet operators, announced preliminary results for the fourth quarter of 2025 and the full year.
Revenue in Q4 is expected to be between $103 million and $106 million, representing the highest quarterly revenue in the Company’s history and an approximate 13% increase compared to $91.4 million in the fourth quarter of 2024.
Full year 2025 revenue is expected to be between $374 million and $378 million, an increase of approximately 15% compared to full year 2024. flyExclusive notes this was achieved with approximately 14% fewer aircraft, reflecting higher utilization and improved fleet efficiency.
The net loss for Q4 is expected to range between $13 million and $10 million for the fourth quarter of 2025. The net loss for the full year 2025 is expected to range between $73 million and $70 million, an improvement of approximately 30% compared to a $101.5 million loss in 2024.
Adjusted EBITDA
The fourth quarter was the company’s first with a positive adjusted EBITDA. This non-GAAP measure is expected to range between $5.5 million and $8.0 million, an improvement of approximately $13.0 million compared to a Q4 2024. Adjusted EBITDA for the full year 2025 is expected to range between a loss of $8.5 million and $5.0 million, representing an improvement of approximately $50 million from full year 2024.
Better Utilization of Aircraft
The Company says its performance reflects higher aircraft utilization and improved contribution per aircraft throughout 2025. During the year, flyExclusive reduced its active fleet while increasing total revenue, reflecting the removal of non-performing aircraft, expanding the high-performing Challenger fleet, significantly improved execution, and a more productive fleet mix.
“These preliminary unaudited results indicate that 2025 was a transformation of our business,” said Jim Segrave, Chairman and CEO of flyExclusive. “The investment in adding the high-performing Challengers to our fleet coupled with improved fleet optimization and utilization drove historic top-line growth resulting in significantly improved profitability. The capabilities of our vertically integrated platform, highlighted by our recent Starlink dealership agreement, with installation in our aircraft expected to begin in the first quarter of 2026, allows us to continue to provide a world-class experience for our customers.”
Brad Garner, CFO, added “Our transformation has been centered on fleet modernization, utilization and cost management driving to sustained profitability. Our continued execution against those initiatives in the fourth quarter resulted in transitioning to positive Adjusted EBITDA, demonstrating the sustainable operating leverage in our model as we continue to scale.”
flyExclusive is listed on the NYSE American exchange and trades with the symbol FLYX. It expects to release final financial results for the fourth quarter and year ended December 31, 2025 after market close on March 5, 2026.
SherpaReport Membership
Get the latest, updated data and insights on the leading fractional jet programs, leading private jet card and membership programs, and the top-rated charter operators. This information is critical for both first-time buyers and experienced private flyers.
Leverage 20 years of knowledge and insights fromSherpaReport Analysts and request a bespoke analysis tailored to your flying needs. Access all this data and information to save you thousands of dollars and hours of research time. Your Membership also includes the Aircraft Buying Guide with multiple pages of insights, information and data for anyone considering or interested in buying a plane. You will be a more educated and smarter buyer. Membership is just $390 for a full year.
