Latest news with #Volato
Business Wire
6 days ago
- Business
- Business Wire
Vaunt Deepens Member Loyalty with Exclusive Event in Dallas Amid Rapid Platform Growth
DALLAS--(BUSINESS WIRE)--Vaunt, the experiential private aviation platform operated by Volato Group, Inc. (NYSE American: SOAR), will host an exclusive VIP Member Social this Thursday at the Crescent Club in Dallas. The event marks the first in a national series designed to strengthen Vaunt's high-value member relationships, reinforce operator partnerships, and drive continued platform stickiness as the business scales. Held in one of Dallas's most prestigious venues, the event will convene Vaunt's most engaged members with company leadership and flight operators integral to the platform's nationwide expansion. Direct member input gathered during the evening will inform upcoming feature development, platform strategy, and market rollout priorities. 'This is not a marketing exercise—it's customer validation at scale,' said Tim Graves, VP of Marketing & Operations at Vaunt. 'We're investing in direct relationships with our most active users because that's where future margin lives. This is how you build durable retention, category leadership, and brand power in a fragmented market.' Vaunt is one of the fastest-growing segments in the Volato ecosystem, surpassing $1.5 million in ARR in its first year, completing nearly 600 flights in 2024, and doubling its aircraft network in Q1 2025 through expanded partnerships with JetVia and flyExclusive. These milestones underscore a platform designed not just for engagement—but for defensibility. The Dallas event is the first in a series of high-touch activations across key geographic markets, reinforcing Vaunt's customer-first strategy and giving investors clear visibility into how loyalty, feedback loops, and network effects underpin strong unit economics. About Vaunt Vaunt, a subsidiary of Volato Group, Inc., is an experiential private aviation platform that turns spontaneous travel opportunities into unforgettable moments. More than just a way to fly, Vaunt is a nostalgia maker, giving members access to last-minute, one-of-a-kind travel experiences that aren't just about the destination, but the story they create along the way. For more information about Vaunt, please visit About Volato Volato is a private aviation company advancing the industry with innovative solutions in aviation software and on-demand flight access. Volato's proprietary Mission Control software drives efficiency across operations and supports operators in managing fractional ownership, charter, and other services. Volato's Vaunt platform connects travelers with available private flights, offering a flexible option for on-demand travel. With a commitment to advanced technology and customer-focused solutions, Volato is building scalable tools to elevate service quality and operational effectiveness in private aviation. For more information about Volato, please visit
Business Wire
15-05-2025
- Business
- Business Wire
Volato Reports Positive Net Income in Q1 2025 and Over $20 Million in Debt Reduction; Targets Additional Settlements and Capital Raise to Extend Operating Runway
ATLANTA--(BUSINESS WIRE)--Volato Group, Inc. (NYSE American: SOAR) ('Volato' or the 'Company'), a private aviation innovator, today announced financial results for the first quarter of 2025, achieving profitability from continuing operations and reducing total liabilities by over $20 million. The Company also disclosed its intention to raise additional equity and continue settling outstanding liabilities in order to extend its operating runway beyond 12 months. For the quarter ended March 31, 2025, Volato reported $25.5 million in revenue and net income of $0.5 million, or $0.03 per diluted share. Total liabilities declined from $62.6 million as of December 31, 2024 to $39.2 million, primarily as a result of disciplined debt reduction and asset sales. 'We executed with focus and urgency in Q1,' said Matt Liotta, CEO of Volato. 'Profitability from continuing operations, major liability reductions, and operational growth across our platforms are all signals that our strategy is working — even as we continue to navigate through a complex financial environment.' Active Plan to Extend Runway and Optimize Capital Structure The Company confirmed it is actively negotiating additional creditor settlements and plans to raise approximately $8.0 million in outside capital during the coming months under its existing financing arrangement. These efforts are designed to address remaining short-term liabilities and position Volato to operate with a 12-month runway. 'Settling liabilities at a discount and executing on a targeted equity raise is a clear path to stability without excessive dilution,' added Liotta. 'We've built momentum. Now we're using that position to strengthen the business long-term.' Volato also provided an update on its convertible debt facility with JAK Opportunities: 'As of March 31, 2025, we had drawn $4.5 million from the $36.0 million convertible facility announced in Q4 2024,' said Liotta. 'The fair value of that balance, including a non-cash mark-to-market adjustment for embedded derivative features, is recorded at $4.9 million. We expect this drawn amount to convert to equity in Q2 under the agreed terms.' 'We're managing cash tightly and prioritizing commitments that move the company forward,' said Mark Heinen, Chief Financial Officer of Volato. 'The combination of operational discipline, creditor engagement, and a focused capital raise is designed to extend our runway and position Volato for long-term financial sustainability.' Outlook and Operational Momentum The Company expects to remain profitable in Q2 and Q4 of 2025, with Q3 projected to be negative based on aircraft delivery timing. Vaunt, Volato's experiential travel platform, continues to operate at cash flow breakeven and is expected to generate full-year profitability in 2025. In April, Volato received delivery of its third Gulfstream G280 aircraft from its four-aircraft order. The Company anticipates this aircraft will contribute to second quarter revenue and margin in a manner consistent with Q1 2025 performance, further supporting near-term profitability and liquidity. First Quarter 2025 Financial Highlights Total revenue was $25.5 million, primarily from aircraft sales Gross profit of $4.5 million Net income of $0.5 million, versus a net loss of $17.4 million in Q1 2024 Net income per diluted share of $0.03 compared to net loss per diluted share of $14.93 in Q1 2024 EBITDA (1) of $2.7 million, compared to an EBITDA loss of $4.2 million in Q1 2024 $23.4 million reduction in total liabilities quarter over quarter Vaunt at breakeven, on track for full-year profitability (1) EBITDA is a non-GAAP measure. Please refer to the tables and related notes in this press release for a reconciliation and definition of non-GAAP financial measures. The full quarterly report is available in the Company's Form 10-Q filed with the SEC today. For more information, please visit or contact investors@ About Volato Volato (NYSE American: SOAR) is an aviation company advancing the industry with innovative solutions in aviation software and on-demand flight access. Volato's proprietary Mission Control software drives efficiency across operations and supports operators in managing fractional ownership, charter, and other services. Volato's Vaunt platform connects travelers with available private flights, offering a flexible option for on-demand travel. With a commitment to advanced technology and customer-focused solutions, Volato is building scalable tools to elevate service quality and operational effectiveness in private aviation. For more information visit Forward Looking Statements This press release contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "projects," "forecasts," "targets," "would," "will," "should," "goal," "could" or "may" or other similar expressions. Forward-looking statements provide management or the Board's current expectations or predictions of future conditions, events, or results. All statements that address operating performance, events, or developments that may occur in the future are forward-looking statements, including statements regarding the challenges associated with executing our growth strategy, including expected deliveries of aircraft and related sales, and developing, marketing and consistently delivering high-quality services that meet customer expectations. All forward-looking statements speak only as of the date they are made and reflect the Company's good faith beliefs, assumptions, and expectations, but they are not guarantees of future performance or events. Furthermore, Volato disclaims any obligation to publicly update or revise any forward-looking statement, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive, and regulatory factors, many of which are beyond Volato's control, that are described in Volato's periodic reports filed with the SEC including its Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2024, and other factors that Volato may describe from time to time in other filings with the SEC. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties. We calculate EBITDA as net loss adjusted for (i) interest expense, net, (ii) provision for income taxes (benefit) (iii) depreciation and amortization, and (iv) equity-based compensation expense. We include EBITDA as a supplemental measure for assessing operating performance. The following table reconciles EBITDA to net loss, which is the most directly comparable GAAP measure (in thousands):
