$JTAI

Jet.AI Inc.

CIK:0001861622|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 5,320,145	$ 2,225,900	$ 7,001,381	$ 5,700,538
Cost of revenues	5,503,893	2,336,200	7,419,352	5,926,352
Gross loss	(183,748)	(110,300)	(417,971)	(225,814)
Operating Expenses:
General and administrative (including stock-based compensation of $64,382, $763,132, $128,764, and $1,314,068, respectively)	2,154,127	2,246,980	4,379,989	4,899,407
Sales and marketing	289,347	81,601	595,734	376,009
Research and development	55,484	41,044	154,564	149,968
Total operating expenses	2,498,958	2,369,625	5,130,287	5,425,384
Operating loss	(2,682,706)	(2,479,925)	(5,548,258)	(5,651,198)
Other income:
Other income	7,035	94,902	97,485	96,371
Unrealized gain on other investments	399,000		493,000
Total other income	406,035	94,902	590,485	96,371
Loss before provision for income taxes	(2,276,671)	(2,385,023)	(4,957,773)	(5,554,827)
Provision for income taxes
Net Loss	$ (2,276,671)	$ (2,385,023)	$ (4,957,773)	$ (5,554,827)
Weighted average shares outstanding - basic	1,326,189	12,918	866,305	11,579
Weighted average shares outstanding - diluted	1,326,189	12,918	866,305	11,579
Net loss per share - basic	$ (1.72)	$ (184.63)	$ (5.72)	$ (479.73)
Net loss per share - diluted	$ (1.72)	$ (184.63)	$ (5.72)	$ (479.73)

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (4,957,773)	$ (5,554,827)
Adjustments to reconcile net loss to net cash used in operating activities:
Unrealized gain on other investments	(493,000)
Amortization and depreciation	1,274	1,275
Stock-based compensation	128,764	1,314,068
Non-cash operating lease costs	146,790	267,855
Changes in operating assets and liabilities:
Accounts receivable	12,774	20,151
Other current assets	66,441	158,045
Deferred offering costs		(45,000)
Accounts payable	(812,475)	86,911
Accrued liabilities	(123,974)	(300,684)
Deferred revenue	(173,313)	(671,889)
Operating lease liability	(133,865)	(260,805)
Deposits and other assets	639,750
Net cash used in operating activities	(5,698,607)	(4,984,900)
CASH FLOWS FROM INVESTING ACTIVITIES:
Advances under related party promissory note		(35,995)
Investment in equity certificates	(5,250,000)
Investment in joint venture	(3,100,000)
Deposit on aircraft		(1,650,000)
Deposits and other assets		9,000
Net cash used in investing activities	(8,350,000)	(1,676,995)
CASH FLOWS FROM FINANCING ACTIVITIES:
Offering costs	(4,884,156)	(1,945,000)
Proceeds from exercise of Series B Convertible Preferred Stock warrants		11,000,000
Proceeds from sale of Common Stock	27,721,874
Net cash provided by financing activities	22,837,718	9,055,000
Increase in cash and cash equivalents	8,789,111	2,393,105
Cash and cash equivalents, beginning of period	1,819,503	5,872,627
Cash and cash equivalents, end of period	10,608,614	8,265,732
Supplemental disclosures of cash flow information:
Cash paid for interest
Cash paid for income taxes
Non-cash financing activities:
Issuance of Common Stock for Series B Preferred Stock conversion	20
Issuance of Common Stock for offering costs	258,300
Removal of right-of-use lease asset and operating liability due to exercise of purchase option	$ 361,917

Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 10,608,614	$ 1,819,503
Accounts receivable	84,557	97,331
Other assets	182,283	248,724
Total current assets	10,875,454	2,165,558
Property and equipment, net	1,231	2,505
Intangible assets, net	86,745	86,745
Right-of-use lease asset		508,707
Investment in joint venture	3,965,000	865,000
Deposit on aircraft	4,050,000	4,050,000
Deposits and other assets	228,811	868,561
Other investments	22,880,000	17,137,000
Total assets	42,087,241	25,684,076
Current liabilities:
Accounts payable	808,904	1,621,379
Accrued liabilities	1,024,808	1,148,782
Deferred revenue	269,813	443,126
Operating lease liability		495,782
Total current liabilities	2,103,525	3,709,069
Commitments and contingencies (Note 2, 5, and 6)
Stockholders’ Equity
Preferred stock, value
Common stock, 200,000,000 shares authorized, par value $0.0001, 1,725,964 and 31,413 issued and outstanding	172	2
Subscription receivable	(6,724)	(6,724)
Additional paid-in capital	92,904,645	69,938,333
Accumulated deficit	(52,914,377)	(47,956,604)
Total stockholders’ equity	39,983,716	21,975,007
Total liabilities and stockholders’ equity	42,087,241	25,684,076
Series B Preferred Stock [Member]
Stockholders’ Equity
Preferred stock, value