Volato Group reported Q2 2024 revenue of $15.1 million, up 16% year-over-year, driven by a 28% increase in aircraft usage revenue as its floating fleet expanded to 25 aircraft from 18 in the prior year. The company achieved improved blended yield of $5,330 per hour, compared to $5,042 in Q2 2023. However, net loss widened to $16.9 million from $9.9 million last year.Operating expenses increased significantly, with selling, general and administrative costs rising 59% to $9.7 million due to higher salaries, public company expenses, and marketing costs. The company implemented cost-saving measures in May 2024 to support its path to profitability, which would have reduced Q2 expenses to $8.3 million on a proforma basis.Looking ahead, Volato has orders for 22 HondaJet Elite IIs and four Gulfstream G280 jets with deliveries expected through 2025. While the company ended Q2 with $7.2 million in cash, management acknowledged substantial doubt about its ability to continue as a going concern, citing the need to raise additional capital. The company believes its current cash position and planned aircraft sales will be sufficient for at least 12 months.

Volato Group reported Q2 2024 revenue of $15.1 million, up 16% year-over-year, driven by a 28% increase in aircraft usage revenue as its floating fleet expanded to 25 aircraft from 18 in the prior year. The company achieved improved blended yield of $5,330 per hour, compared to $5,042 in Q2 2023. However, net loss widened to $16.9 million from $9.9 million last year.Operating expenses increased significantly, with selling, general and administrative costs rising 59% to $9.7 million due to higher salaries, public company expenses, and marketing costs. The company implemented cost-saving measures in May 2024 to support its path to profitability, which would have reduced Q2 expenses to $8.3 million on a proforma basis.Looking ahead, Volato has orders for 22 HondaJet Elite IIs and four Gulfstream G280 jets with deliveries expected through 2025. While the company ended Q2 with $7.2 million in cash, management acknowledged substantial doubt about its ability to continue as a going concern, citing the need to raise additional capital. The company believes its current cash position and planned aircraft sales will be sufficient for at least 12 months.