JTAI Jet.AI Inc.

Overview and Growth

Jet.AI Inc. generated $9.18M of revenue in fiscal 2025, with net income of $4.59M and an operating cash outflow of $8.23M. At $9.18M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $14.02M in fiscal 2024, revenue decreased 34.6%, a top-line contraction that reduced operating scale. Diluted earnings per share were $66.00, translating the period’s attributable earnings into the amount reported for each diluted share. A diluted share base of 68.83K links the aggregate earnings figure to diluted EPS and helps frame the per-share comparison. At period end, total assets were $25.68M, framing the scale of the company’s operating and financing commitments. Asset turnover was 0.36x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

A gross loss of $300.04K left no positive gross-profit layer to absorb operating expenses. Gross margin was -3.3%, reflecting direct costs that exceeded revenue by 3.3%. The reported operating result was an operating loss of $10.07M, reflecting costs that exceeded gross profit. Relative to revenue, the operating deficit measured 109.7%, showing the shortfall after operating costs. After all reported below-operating-line items, the company recorded net income of $4.59M for the fiscal year. Net margin was 50.0%, meaning that this portion of revenue remained as net income after all recognized expenses. Negative EBITDA totaled $10.07M, confirming that the earnings deficit remained before depreciation and amortization. Before income taxes, the company reported $4.59M of earnings, providing a bridge between the operating result and final net income. Pretax income represented 50.0% of revenue, placing earnings before tax in the context of the company’s operating scale. The relationship between net income and period-end equity was 20.9%, indicating the profitability achieved on book capital. Return on period-end assets was 17.9%, connecting net income with the company’s total asset base. The company moved from a $12.73M net loss in fiscal 2024 to net income of $4.59M.

Liquidity and Capital Structure

The company held $25.68M of assets against $3.71M of liabilities and $21.98M of equity, revealing how the asset base was financed. Current assets were $2.17M against $3.71M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. The current ratio was 0.58x; current liabilities exceeded current assets, leaving a short-term liquidity deficit. Cash and equivalents totaled $1.82M, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 49.1%, excluding receivables and other current assets. Equity equaled 85.6% of assets, showing the shareholder-capital layer within the company’s balance sheet. Relative to total assets, liabilities measured 14.4%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 7.1%, comparing reported cash and equivalents with the full positive asset balance. Compared with $10.80M in fiscal 2024, the current asset base moved 137.9% and finished higher. Book equity was 237.4% higher than fiscal 2024 equity of $6.51M, showing how shareholder capital changed year over year. The reported cash balance changed 69.0% from $5.87M in fiscal 2024, ending lower year over year.

Cash Flow and Earnings Quality

Cash flow from operations was an outflow of $8.23M, showing that operations absorbed cash during the period. The operating cash outflow narrowed to $8.23M from $8.23M in fiscal 2024.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Nov 4, 2026.