Jet.AI reported Q3 2024 revenue of $3.9 million, a 16% increase from $3.4 million in Q3 2023, driven by growth in aircraft management services and software app revenues. The company's operating loss narrowed to $2.9 million from $4.3 million year-over-year, primarily due to reduced general and administrative expenses and lower stock-based compensation costs.The company's software app and Cirrus charter revenue grew to $2.4 million, while management services revenue increased to $960,000 due to additional managed aircraft. However, gross margin turned negative with a $14,000 loss compared to a $170,000 profit last year, impacted by reduced jet card customer flights without corresponding fixed cost reductions.As of September 30, 2024, Jet.AI had $312,000 in cash and faced continued listing compliance challenges with Nasdaq. The company implemented a 1-for-225 reverse stock split in November 2024 to address the minimum bid price requirement and must demonstrate compliance with listing requirements by November 26, 2024.

Jet.AI reported Q3 2024 revenue of $3.9 million, a 16% increase from $3.4 million in Q3 2023, driven by growth in aircraft management services and software app revenues. The company's operating loss narrowed to $2.9 million from $4.3 million year-over-year, primarily due to reduced general and administrative expenses and lower stock-based compensation costs.The company's software app and Cirrus charter revenue grew to $2.4 million, while management services revenue increased to $960,000 due to additional managed aircraft. However, gross margin turned negative with a $14,000 loss compared to a $170,000 profit last year, impacted by reduced jet card customer flights without corresponding fixed cost reductions.As of September 30, 2024, Jet.AI had $312,000 in cash and faced continued listing compliance challenges with Nasdaq. The company implemented a 1-for-225 reverse stock split in November 2024 to address the minimum bid price requirement and must demonstrate compliance with listing requirements by November 26, 2024.