Tearsheet

Jet AI (JTAI)


Market Price (1/24/2026): $0.2927 | Market Cap: $1.0 Mil
Sector: Information Technology | Industry: Application Software

Jet AI (JTAI)


Market Price (1/24/2026): $0.2927
Market Cap: $1.0 Mil
Sector: Information Technology
Industry: Application Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.


0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -285%
Weak multi-year price returns
2Y Excs Rtn is -143%, 3Y Excs Rtn is -176%
Penny stock
Mkt Price is 0.3
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -86%
Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 20%
Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -11 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -104%
2 Megatrend and thematic drivers
Megatrends include Artificial Intelligence, Cloud Computing, and Experience Economy & Premiumization. Themes include AI Software Platforms, Show more.
  Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -30%, Rev Chg QQuarterly Revenue Change % is -56%
3   Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 19%
4   Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -116%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -116%
5   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -1096%
6   High stock price volatility
Vol 12M is 230%
7   Key risks
JTAI key risks include [1] its ongoing unprofitability and declining revenue, Show more.
0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -285%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -86%
2 Megatrend and thematic drivers
Megatrends include Artificial Intelligence, Cloud Computing, and Experience Economy & Premiumization. Themes include AI Software Platforms, Show more.
3 Weak multi-year price returns
2Y Excs Rtn is -143%, 3Y Excs Rtn is -176%
4 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 20%
5 Penny stock
Mkt Price is 0.3
6 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -11 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -104%
7 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -30%, Rev Chg QQuarterly Revenue Change % is -56%
8 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 19%
9 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -116%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -116%
10 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -1096%
11 High stock price volatility
Vol 12M is 230%
12 Key risks
JTAI key risks include [1] its ongoing unprofitability and declining revenue, Show more.

Valuation, Metrics & Events

JTAI Stock


Why The Stock Moved


Qualitative Assessment

AI Analysis | Feedback

Jet AI (JTAI) stock has lost about 90% since 9/30/2025 because of the following key factors:

1. Poor Q3 2025 Financial Results: Jet.AI reported its third-quarter 2025 earnings on November 14, 2025, posting an Earnings Per Share (EPS) of -$0.59, which significantly missed analysts' expectations of -$0.48. Additionally, quarterly revenue came in at $1.71 million, falling short of the $2.10 million estimate. This performance, alongside reported negative gross margins and ongoing operating losses, highlighted a deteriorating financial position and a continued burn rate of cash, leading to investor apprehension.

2. Authorization for Another Reverse Stock Split: On December 19, 2025, shareholders approved granting the board discretion to implement another reverse stock split at a ratio ranging from 1-for-2 to 1-for-250. This authorization signaled persistent issues with maintaining compliance with Nasdaq's minimum bid price requirement and indicated ongoing concerns about the company's capital structure and stock valuation, further eroding investor confidence.

Show more

Stock Movement Drivers

Fundamental Drivers

The -91.0% change in JTAI stock from 9/30/2025 to 1/23/2026 was primarily driven by a -86.0% change in the company's P/S Multiple.
(LTM values as of)93020251232026Change
Stock Price ($)3.340.30-91.0%
Change Contribution By: 
Total Revenues ($ Mil)1311-17.3%
P/S Multiple0.70.1-86.0%
Shares Outstanding (Mil)33-22.5%
Cumulative Contribution-91.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 1/23/2026
ReturnCorrelation
JTAI-91.0% 
Market (SPY)3.5%13.3%
Sector (XLK)3.0%2.6%

Fundamental Drivers

The -91.8% change in JTAI stock from 6/30/2025 to 1/23/2026 was primarily driven by a -79.3% change in the company's P/S Multiple.
(LTM values as of)63020251232026Change
Stock Price ($)3.650.30-91.8%
Change Contribution By: 
Total Revenues ($ Mil)1411-22.5%
P/S Multiple0.50.1-79.3%
Shares Outstanding (Mil)23-48.7%
Cumulative Contribution-91.8%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2025 to 1/23/2026
ReturnCorrelation
JTAI-91.8% 
Market (SPY)11.9%17.4%
Sector (XLK)14.7%7.5%

Fundamental Drivers

The -93.4% change in JTAI stock from 12/31/2024 to 1/23/2026 was primarily driven by a -97.6% change in the company's Shares Outstanding (Mil).
(LTM values as of)123120241232026Change
Stock Price ($)4.540.30-93.4%
Change Contribution By: 
Total Revenues ($ Mil)1511-29.6%
P/S Multiple0.00.1298.5%
Shares Outstanding (Mil)03-97.6%
Cumulative Contribution-93.4%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2024 to 1/23/2026
ReturnCorrelation
JTAI-93.4% 
Market (SPY)18.6%11.3%
Sector (XLK)25.4%10.1%

Fundamental Drivers

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Market Drivers

12/31/2022 to 1/23/2026
ReturnCorrelation
JTAI  
Market (SPY)86.9%7.1%
Sector (XLK)137.9%3.7%

Return vs. Risk


Price Returns Compared

 202120222023202420252026Total [1]
Returns
JTAI Return---78%-99%-87%-51%-100%
Peers Return-27%-25%-51%-51%-49%2%-93%
S&P 500 Return27%-19%24%23%16%1%84%

Monthly Win Rates [3]
JTAI Win Rate--20%0%17%0% 
Peers Win Rate39%54%58%37%37%40% 
S&P 500 Win Rate75%42%67%75%67%100% 

Max Drawdowns [4]
JTAI Max Drawdown---84%-99%-87%-51% 
Peers Max Drawdown-33%-32%-66%-72%-66%-11% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-1% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: FLYX, UP, SOAR, SRFM, SABR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 1/23/2026 (YTD)

How Low Can It Go

JTAI has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.

Unique KeyEventXLKS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-34.0%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven51.6%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven278 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-31.5%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven46.0%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven79 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-24.1%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven31.8%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven105 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-53.6%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven115.3%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1,183 days1,480 days

Compare to FLYX, UP, SOAR, SRFM, SABR

In The Past

SPDR Select Sector Fund's stock fell -34.0% during the 2022 Inflation Shock from a high on 12/27/2021. A -34.0% loss requires a 51.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Jet AI (JTAI)

Jet.AI Inc. primarily engages in the development and operation of private aviation platforms. The company operates CharterGPT, a booking platform that functions as a prospecting and quoting platform to arrange private jet travel with its aircrafts and third-party carriers. It also provides Flight Club API, an aviation software, that enables FAA Part 135 operators to function simultaneously under FAA Part 380 which permits sale of private jet service by the seat instead of by whole aircraft. In addition, the company offers Reroute software, that recycles aircraft waiting to return to base into prospective new charter bookings to destinations within specific distances. Further, it is involved in the aircraft charter, management, and brokerage services. The company was founded in 2018 and is headquartered in Las Vegas, Nevada.

AI Analysis | Feedback

Here are 1-3 brief analogies to describe Jet AI (JTAI):

  • Uber for private jets
  • Samsara for private jet operators
  • HotelTonight for empty private jet legs

AI Analysis | Feedback

  • AI-Powered Private Jet Charter Platform: An AI-driven digital marketplace and mobile application designed to optimize pricing, logistics, and booking for on-demand private jet charters.
  • Aircraft Management Services: Comprehensive operational, maintenance, crew, and administrative management services for privately owned aircraft, including opportunities to generate charter revenue.
  • Aircraft Sales and Acquisitions: Advisory and brokerage services assisting clients with the buying and selling of private jets.

AI Analysis | Feedback

Jet AI (JTAI) operates with a dual business model, serving both business-to-business (B2B) clients through its software segment and a mix of business-to-consumer (B2C) and B2B clients through its charter segment. The company does not publicly disclose the names of its major customers in its SEC filings.

Based on its business operations, Jet AI serves the following categories of customers:

  1. Private Aviation Operators and Brokers (B2B): These companies license Jet AI's AI-powered software solutions, such as CharterGPT, Jet.AI apps, and Dynamic Pricing, to optimize their flight operations, enhance brokerage services, and improve empty leg monetization strategies within the private aviation industry.

  2. High-Net-Worth Individuals and Corporate Executives (B2C): These customers directly utilize Jet AI's charter services (marketed under brands like Charter Jet AI) for private air travel. This category also includes individuals who participate in Jet AI's fractional ownership programs or purchase jet card memberships.

  3. Corporations and Other Entities (B2B): Companies and other organizations that require private charter services for executive travel, business trips, or other corporate aviation needs. These clients contract with Jet AI for on-demand private jet charters.

AI Analysis | Feedback

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AI Analysis | Feedback

Mike Winston, Chairman

Mike Winston founded Jet Token in 2018, which later became Jet.AI, and has served as its Executive Chairman since its founding. He began his career in 1999 with Credit Suisse First Boston Corporation and later worked as a portfolio manager at Millennium Partners LP, where he managed a $1 billion merger arbitrage and event-driven capital allocation for five years. In 2012, Mr. Winston formed the Sutton View Group of companies, an alternative asset management platform where he advised one of the largest academic endowments in the world. He also co-led successful activist litigation against the board of Dole Foods in its management-led buyout, which resulted in a 35% increase in total consideration for stockholders. At age 18, he won a $1 million prize from IBM for his first startup company. Mr. Winston is a CFA Charterholder.

George Murnane, Chief Executive Officer

George Murnane has served as Jet.AI's Chief Executive Officer since September 2019. He has over 20 years of senior executive experience, including 14 years as a Chief Operating Officer and/or Chief Financial Officer in the air transportation and aircraft industry. His previous roles include CEO for ImperialJet S.a.l (2013-2019), COO and Acting CFO for VistaJet Holdings, S.A. (2008), CFO for Mesa Air Group (2002-2007), COO and CFO for North-South Airways (2000-2002), Executive Vice President, COO and CFO for International Airline Support Group (1996-2002), and Executive Vice President and COO for Atlas Air, Inc. (1995-1996). Mr. Murnane was also a managing partner of Barlow Partners, a consulting services firm. He has appeared as an interim CFO on certain SEC documents, reflecting shifting internal titles and fluidity of roles in smaller public companies. He received an MBA from The Wharton School of the University of Pennsylvania and a BA in Economics from the University of Pennsylvania.

Patrick McNulty, Chief Operating Officer

Patrick McNulty is the Chief Operating Officer at Jet.AI. He previously spent eight successful years with Honda Aircraft Company as a manager of Sales Operations and Business Development, where he was regarded as an expert on the HondaJet. At Honda Aircraft, Mr. McNulty led the development of a robust sales engineering team and was instrumental in product development and market analysis. Before that, he worked in the aircraft engine division of Rolls-Royce North America and at light jet manufacturer Eclipse Aviation.

Kienan Franklin, Vice President of Sales

Kienan Franklin serves as the Vice President of Sales at Jet.AI. Prior to joining Jet.AI, he had six successful years focused on new aircraft sales of Cessna's CitationJet series. He has since been promoted at Jet.AI, reflecting his skills in sales and customer relationships.

Jake Vale, Chief Marketing Officer

Jake Vale is the Chief Marketing Officer at Jet.AI. He is responsible for designing and executing marketing strategies, including capital raise efforts, overseeing investor and public relations activity, and managing direct-to-consumer marketing of jet card, fractional ownership, and charter offerings, such as CharterGPT. Previously, Mr. Vale managed marketing budget allocation for tZERO's security token offering, as well as Reg CF and Reg A raises on the StartEngine platform.

AI Analysis | Feedback

The public company Jet AI (JTAI) faces several significant business risks, primarily stemming from its financial performance and its recent strategic pivot.

  1. Unprofitability and Financial Sustainability: Jet AI is currently unprofitable, exhibiting negative gross margins and ongoing operating losses. The company has been burning through cash, and its investments have yet to translate into profitability, leading to a need for a clear path to financial viability to instill investor confidence. Furthermore, the company has experienced declining revenue.
  2. Execution Risk of Strategic Pivot to AI Data Centers and High Capital Requirements: Jet AI is undergoing a fundamental transformation of its business model, pivoting from private aviation to AI data center development after selling its aviation assets. This new venture is capital-intensive, with projected costs such as $10 million per megawatt for data center development. Successfully executing this strategic shift and securing the substantial capital required poses a significant risk to the company's future.
  3. Intense Competition: Both the private aviation market, where Jet AI historically operated, and the burgeoning AI data center market are characterized by intense competition. Established players in both sectors possess deep pockets, extensive networks, and loyal customer bases, making it challenging for Jet AI to differentiate itself, capture market share, and achieve sustained profitability.

AI Analysis | Feedback

Accelerating vertical integration and proprietary technology development by major private aviation operators.

Many prominent players in the private aviation sector, including large fractional ownership companies, charter operators, and brokers (e.g., NetJets, Flexjet, VistaJet/XO, Wheels Up), are increasingly investing heavily in developing their own sophisticated, AI-driven operational platforms and direct-to-consumer booking systems. This strategic move towards vertical integration and in-house technology development directly threatens Jet AI's core business model. For Jet AI's B2B SaaS offering (JetSTREAM), this trend reduces the addressable market, as major potential clients opt for proprietary solutions over third-party platforms for their mission-critical operations. Simultaneously, for Jet AI's B2C marketplace (JetASAP), enhanced direct booking capabilities and improved digital customer experiences offered by these well-resourced competitors can diminish the need for independent marketplaces, potentially limiting JetASAP's market share growth. This constitutes an emerging threat as these larger entities continue to allocate significant capital and resources to solidify their control over their entire value chain through advanced technology.

AI Analysis | Feedback

Jet AI (JTAI) operates within several significant addressable markets related to artificial intelligence in aviation and private jet services. The market sizes for their main products and services, primarily global unless otherwise specified, are detailed below:

  • AI-Powered Flight Operations (including Predictive Maintenance, Fuel Optimization, and Route Optimization Software):
    • The global AI in aviation market was valued at approximately USD 6.20 billion in 2024 and is projected to grow to USD 26.99 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 20.20%. North America alone held a significant share, valued at USD 2.86 billion in 2024.
    • Specifically, the global predictive maintenance in aviation market was valued at USD 5.3 billion in 2024 and is expected to grow to USD 10.6 billion by 2030 and USD 18.2 billion by 2034, with a CAGR of 13.1% during 2025-2034. North America accounted for approximately 36.5% of this market in 2024.
    • The global flight plan automatic optimization software market reached USD 1.74 billion in 2024 and is expected to grow at a CAGR of 9.2% to reach USD 3.89 billion by 2033. The broader global flight route optimization market was valued at USD 6.15 billion in 2024, with a projection to grow to USD 14.08 billion by 2032, at a CAGR of 10.9%. North America held a 33.01% share of this market in 2024.
  • Aviation Data Analytics (Operational Analytics, Customer Behavior, and Safety Analytics Tools):
    • The global aviation analytics market was estimated at USD 2.86 billion in 2023 and is anticipated to grow at a CAGR of over 10% between 2024 and 2032, reaching USD 8.5 billion by 2032. North America dominated this market in 2023, accounting for over 35% of the share. Another source estimated the global aviation analytics market size at USD 3.9 billion in 2024, projected to reach USD 8.8 billion by 2033, with a CAGR of 9.11%.
  • Private Aviation Platforms (CharterGPT, Reroute AI, DynoFlight, Flight Club API) & Aircraft Charter, Management, and Brokerage Services:
    • The global private jet charter services market was valued at USD 21.24 billion in 2024, is projected to reach USD 24.12 billion in 2025, and is expected to grow to USD 40.05 billion in 2029 at a CAGR of 13.5%. Another report states the market was valued at USD 26.7 billion in 2023 and is projected to reach USD 40.9 billion by 2032, with a CAGR of 4.9% from 2024 to 2032. North America is the dominant market, holding 82.47% revenue share in 2024.
    • The broader global aviation software market, which would encompass many of Jet AI's software platforms, was valued at USD 11.50 billion in 2024 and is predicted to reach approximately USD 23.10 billion by 2034, expanding at a CAGR of 7.22% from 2025 to 2034. North America held the largest share of 36% in this market in 2024.

AI Analysis | Feedback

Jet AI (JTAI) is undergoing a significant strategic transition, shifting from its origins in aviation and aviation-specific AI software to become a pure-play AI data center company. Over the next 2-3 years, the company's future revenue growth is expected to be driven primarily by the following factors:

  1. Development and Operation of Hyperscale AI Data Centers: Jet AI is actively engaged in building scalable, high-performance infrastructure to support the increasing computational demands of artificial intelligence. Key initiatives include definitive agreements with Consensus Core Technologies for the development of hyperscale data centers in Midwestern and Maritime Canada. This involves securing land, such as the recent Letter of Intent to acquire an additional 350 acres for the Midwestern Project, and focusing on energy commitments for these facilities. The successful construction and operationalization of these large-scale data centers will be a primary driver of revenue.
  2. Strategic Investments and Partnerships in AI Infrastructure: Jet AI's involvement with AI Infrastructure Acquisition Corp. (AIIA SPAC) positions it for growth through strategic investments. Jet AI holds a 49.5% ownership interest in AIIA Sponsor Ltd., the sponsor of this SPAC. The AIIA SPAC intends to focus on and pursue transaction opportunities with high-impact private technology companies that are advancing artificial intelligence and machine learning capabilities, as well as those involved in building, operating, or enabling next-generation data center infrastructure. This strategy allows Jet AI to expand its footprint and capabilities in the broader AI infrastructure market.
  3. Expansion of AI Cloud Services: As Jet AI develops its high-performance GPU infrastructure, it aims to become a provider of AI cloud services. This involves offering access to its advanced computing resources to businesses and organizations requiring significant AI processing power. The demand for AI cloud services is expected to grow substantially, and by establishing itself as a key infrastructure provider, Jet AI can generate recurring revenue from these services.

AI Analysis | Feedback

Jet AI (JTAI) has made the following capital allocation decisions over the last 3-5 years:

Share Repurchases

  • Jet.AI's Board of Directors authorized a share repurchase program in November 2024, allowing for the buyback of up to $2 million of its common stock through December 31, 2025.

Share Issuance

  • In 2024, Jet.AI raised $3.9 million through direct offerings.
  • The company completed a warrant exchange offer in 2024 to simplify its capital structure.
  • Jet.AI executed a 1-for-225 reverse stock split in November 2024.

Inbound Investments

  • Jet.AI announced the successful closing of AI Infrastructure Acquisition Corp., which added approximately $20 million in book equity from its ownership stake in October 2025.

Outbound Investments

  • Jet.AI contributed $1.7 million to a joint venture with Consensus Core Technologies Inc. for hyperscale data center projects in Midwestern and Maritime Canada in November 2025.
  • In August 2025, Jet.AI Inc. announced a strategic capital contribution to AIIA Sponsor Ltd., the sponsor of a SPAC focused on AI, machine learning, and data center operations.

Capital Expenditures

  • Jet.AI is building scalable, high-performance infrastructure to support the increasing computational demands of artificial intelligence, as it transitions to a pure-play AI data center company.
  • The company secured a $280 million debt financing arrangement in November 2024 for the acquisition of Bombardier Challenger 3500 aircraft, with deliveries anticipated to begin in 2026.
  • Jet.AI is involved in hyperscale data center projects in Canada, with the second milestone for these projects substantially completed in November 2025.

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Peer Comparisons for Jet AI

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Financials

JTAIFLYXUPSOARSRFMSABRMedian
NameJet AI flyExclu.Wheels U.Volato Surf Air.Sabre  
Mkt Price0.303.280.780.452.381.331.06
Mkt Cap0.00.10.50.00.10.50.1
Rev LTM11363757581083,109236
Op Inc LTM-11-56-272-3-43377-27
FCF LTM-12-24-287-9-85-263-54
FCF 3Y Avg-7-70-363--67-117-70
CFO LTM-1233-110-9-69-185-41
CFO 3Y Avg-72-278--57-34-34

Growth & Margins

JTAIFLYXUPSOARSRFMSABRMedian
NameJet AI flyExclu.Wheels U.Volato Surf Air.Sabre  
Rev Chg LTM-29.6%16.4%-9.1%-0.0%-8.5%8.8%-4.3%
Rev Chg 3Y Avg---19.0%--9.2%-4.9%
Rev Chg Q-56.3%19.8%-4.3%-99.0%2.8%3.5%-0.8%
QoQ Delta Rev Chg LTM-17.3%4.4%-1.1%-39.5%0.7%0.8%-0.2%
Op Mgn LTM-103.9%-15.5%-35.9%-4.6%-39.7%12.1%-25.7%
Op Mgn 3Y Avg-102.2%-18.0%-31.7%-18.5%-133.6%6.3%-25.1%
QoQ Delta Op Mgn LTM-11.3%1.8%-3.5%-6.7%-7.0%1.1%-5.1%
CFO/Rev LTM-116.2%9.1%-14.5%-15.2%-64.1%-5.9%-14.9%
CFO/Rev 3Y Avg-62.4%0.0%-23.8%--78.2%-1.0%-23.8%
FCF/Rev LTM-116.2%-6.6%-37.9%-15.2%-78.6%-8.5%-26.6%
FCF/Rev 3Y Avg-62.6%-22.3%-34.1%--94.3%-3.8%-34.1%

Valuation

JTAIFLYXUPSOARSRFMSABRMedian
NameJet AI flyExclu.Wheels U.Volato Surf Air.Sabre  
Mkt Cap0.00.10.50.00.10.50.1
P/S0.10.30.70.00.90.20.2
P/EBIT-0.1-1.6-2.1-0.5-1.71.9-1.0
P/E-0.1-5.0-1.60.2-1.40.9-0.7
P/CFO-0.12.7-5.0-0.3-1.5-2.8-0.9
Total Yield-1,091.8%-20.1%-64.3%410.2%-71.7%105.4%-42.2%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-773.7%-81.8%-177.7%--85.0%-18.2%-85.0%
D/E0.62.90.91.40.98.01.1
Net D/E-2.82.70.6-1.30.86.80.7

Returns

JTAIFLYXUPSOARSRFMSABRMedian
NameJet AI flyExclu.Wheels U.Volato Surf Air.Sabre  
1M Rtn-59.4%-3.0%11.2%-57.1%11.7%-7.6%-5.3%
3M Rtn-89.1%-20.6%-51.4%-78.7%-45.4%-37.3%-48.4%
6M Rtn-91.9%37.8%-46.0%-75.0%-58.9%-57.8%-58.3%
12M Rtn-91.6%2.5%-52.3%-91.5%-36.4%-62.3%-57.3%
3Y Rtn-100.0%-67.3%-93.8%-99.8%-89.2%-80.9%-91.5%
1M Excs Rtn-75.5%0.4%24.6%-59.6%14.4%-11.9%-5.7%
3M Excs Rtn-91.8%-18.0%-49.3%-81.5%-47.6%-42.2%-48.4%
6M Excs Rtn-100.9%29.7%-55.5%-81.6%-66.3%-66.6%-66.4%
12M Excs Rtn-104.9%-8.8%-65.9%-105.0%-51.5%-74.2%-70.0%
3Y Excs Rtn-176.0%-143.4%-170.0%-175.8%-165.2%-156.4%-167.6%

Financials

Segment Financials

Revenue by Segment
$ Mil2024
Jet card and charter programs1
Fractional/Whole Aircraft Sales0
Total1


Price Behavior

Price Behavior
Market Price$0.30 
Market Cap ($ Bil)0.0 
First Trading Date08/11/2023 
Distance from 52W High-97.0% 
   50 Days200 Days
DMA Price$1.17$2.91
DMA Trenddowndown
Distance from DMA-74.3%-89.7%
 3M1YR
Volatility148.7%231.1%
Downside Capture651.06275.73
Upside Capture-619.59-14.22
Correlation (SPY)6.2%11.4%
JTAI Betas & Captures as of 12/31/2025

 1M2M3M6M1Y3Y
Beta-0.052.773.002.821.50-0.16
Up Beta-0.984.464.723.180.81-0.47
Down Beta0.430.462.032.702.351.16
Up Capture-1027%-279%-161%-28%20%-6%
Bmk +ve Days11233772143431
Stock +ve Days512224495219
Down Capture957%553%445%334%159%112%
Bmk -ve Days11182755108320
Stock -ve Days16274077148368

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with JTAI
JTAI-91.1%231.1%-0.31-
Sector ETF (XLK)20.9%27.4%0.6710.2%
Equity (SPY)14.7%19.3%0.5811.4%
Gold (GLD)81.5%20.4%2.83-3.9%
Commodities (DBC)8.3%15.4%0.325.6%
Real Estate (VNQ)4.9%16.6%0.118.0%
Bitcoin (BTCUSD)-13.6%39.7%-0.2812.9%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with JTAI
JTAI-81.7%205.5%-0.93-
Sector ETF (XLK)18.8%24.7%0.683.7%
Equity (SPY)14.4%17.1%0.687.1%
Gold (GLD)21.9%15.7%1.13-2.4%
Commodities (DBC)11.9%18.7%0.526.4%
Real Estate (VNQ)5.2%18.8%0.188.7%
Bitcoin (BTCUSD)19.5%57.9%0.542.7%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with JTAI
JTAI-57.2%205.5%-0.93-
Sector ETF (XLK)23.1%24.2%0.873.7%
Equity (SPY)15.5%18.0%0.747.1%
Gold (GLD)16.2%14.9%0.90-2.4%
Commodities (DBC)8.4%17.6%0.406.4%
Real Estate (VNQ)5.9%20.8%0.258.7%
Bitcoin (BTCUSD)70.6%66.7%1.102.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date12312025
Short Interest: Shares Quantity0.7 Mil
Short Interest: % Change Since 12152025286.8%
Average Daily Volume2.3 Mil
Days-to-Cover Short Interest1
Basic Shares Quantity3.3 Mil
Short % of Basic Shares19.9%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/19/20246.9%-12.4%-38.9%
11/21/20231.4%15.5%93.9%
SUMMARY STATS   
# Positive211
# Negative011
Median Positive4.1%15.5%93.9%
Median Negative -12.4%-38.9%
Max Positive6.9%15.5%93.9%
Max Negative -12.4%-38.9%

SEC Filings

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Report DateFiling DateFiling
09/30/202511/14/202510-Q
06/30/202508/14/202510-Q
03/31/202505/15/202510-Q
12/31/202403/26/202510-K
09/30/202411/14/202410-Q
06/30/202408/14/202410-Q
03/31/202405/15/202410-Q
12/31/202304/01/202410-K
09/30/202311/20/202310-Q
06/30/202308/21/202310-Q
03/31/202307/28/2023424B3