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Flyexclusive cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$2.7M in Q2 2026 · −$27.0M over twelve months

Operating cash flow$2.7M
Capital spending−$5.4M
Free cash flow−$2.7M

Analysis

In Q2 2026, Flyexclusive generated $2.7M of operating cash flow and spent $5.4M on capital projects, leaving free cash flow of −$2.7M. That is $3.0M less than in Q2 2025 ($353K).

Over the twelve months to Jun 30, 2026, operating cash flow was $18.9M; the largest uses were net borrowing (+) / repaid (−) ($75.2M), capital spending ($46.0M), other investing ($31.9M); besides operations, cash came from asset & business sales ($87.0M), other financing ($28.7M); the cash balance fell by $1.6M.

Operating cash flow was $2.7M against net income of −$11.5M. The largest differences: depreciation & amortization +$5.5M, deferred revenue +$4.2M, payables +$2.9M.

Free cash flow

Flyexclusive: free cash flow by quarterFlyexclusive: free cash flow by quarter$1.2MQ3 2024$1.5MQ4 2024−$14.6MQ1 2025$353KQ2 2025−$11.0MQ3 2025$980KQ4 2025−$14.3MQ1 2026−$2.7MQ2 2026
Operating cash flow less capital spending.
Flyexclusive: operating cash flow against capital spendingFlyexclusive: operating cash flow against capital spendingOperating cash flowCapital spending−$12.3M−$13.5MQ3 2024$43.5M$42.0MQ4 2024−$10.5M$4.1MQ1 2025$363K$10KQ2 2025−$209K$10.8MQ3 2025$17.0M$16.0MQ4 2025−$617K$13.7MQ1 2026$2.7M$5.4MQ2 2026
Latest (Q2 2026): Operating cash flow $2.7M, Capital spending $5.4M.

Capital allocation, year by year

Flyexclusive: where the cash came from (up) and went (down), by fiscal yearFlyexclusive: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2022: Operating cash flow $45.6MFY2022: Asset sales $60.5MFY2022: Capital spending −$146M$106MFY2022FY2023: Operating cash flow $8.7MFY2023: Net borrowing $75.2MFY2023: Asset sales $42.0MFY2023: Capital spending −$83.6M$126MFY2023FY2024: Operating cash flow −$10.9MFY2024: Net borrowing $4.6MFY2024: Asset sales $50.8MFY2024: Capital spending −$56.7M$55.4MFY2024FY2025: Operating cash flow $6.7MFY2025: Net borrowing −$133MFY2025: Shares issued $5.8MFY2025: Asset sales $103MFY2025: Capital spending −$30.9M$115MFY2025
Over these 4 years operating cash flow totalled $50.1M; the largest uses were capital spending ($317M) and net borrowing ($133M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$14.2M
Debt$111M
Net debt$96.5M

Flyexclusive's operations bring cash in ($18.9M over twelve months), and it spends more than that on capital projects: a gap of $27.0M funded from its $14.2M of cash and investments and from borrowing ($111M of debt). That is a choice to invest, not a cash runway running down.

Where the cash came from and went

Flyexclusive: sources (+) and uses (−) of cash, Q2 2026Flyexclusive: sources (+) and uses (−) of cash, Q2 2026Asset & business sales$7.4MNet borrowing (+) / repaid (−)−$6.7MCapital spending−$5.4MOther investing−$4.9MCash drawn (+) / kept (−)$4.4MPartners−$4.4MShares issued$3.6MOther financing$3.3MOperating cash flow$2.7M
Flyexclusive: sources (+) and uses (−) of cash, TTM to Q2 2026Flyexclusive: sources (+) and uses (−) of cash, TTM to Q2 2026Asset & business sales$87.0MNet borrowing (+) / repaid (−)−$75.2MCapital spending−$46.0MOther investing−$31.9MOther financing$28.7MShares issued$26.5MOperating cash flow$18.9MPartners−$9.8MCash drawn (+) / kept (−)$1.6M

From profit to cash

Flyexclusive: net income to operating cash flow, Q2 2026Flyexclusive: net income to operating cash flow, Q2 2026Net income−$11.5MDepreciation & amortization$5.5MStock-based pay$1.7MInventory−$1.2MPayables$2.9MDeferred revenue$4.2MPrepaid and other assets$489KOther liabilities−$1.5MOperating cash flow$2.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$2.7M−$5.4M−$6.7M$3.6M$4.4M−$2.7M
Q1 2026−$617K−$13.7M−$12.2M$17.1M$10.7M−$14.3M
Q4 2025$17.0M−$16.0M−$37.5M—−$10.6M$980K
Q3 2025−$209K−$10.8M$6.8M$5.8M−$2.9M−$11.0M
Q2 2025$363K−$10K−$9.4M—−$1.1M$353K
Q1 2025−$10.5M−$4.1M−$66.8M—$16.9M−$14.6M
Q4 2024$43.5M−$42.0M−$16.5M—−$13.0M$1.5M
Q3 2024−$12.3M$13.5M$176K—−$9.3M$1.2M

Flyexclusive: income statement and cash flow

Flyexclusive, Q2 2026: revenue $111M (+22% year over year), operating margin -5.2%. The chart follows the revenue to costs, profit and cash.

Flyexclusive: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.