Jet.AI Inc. reported its financial results for the first quarter of 2026, revealing a significant decline in revenue and an operating loss, as the company transitions its focus from aviation services to artificial intelligence and data center operations. The company generated revenues of $1.68 million for the three months ended March 31, 2026, a decrease of 52% from $3.47 million in the same period last year. This decline is attributed to the planned sale of its aviation assets to flyExclusive, which has led to a reduction in its fractional and jet card business activities.
The cost of revenues also decreased, totaling $1.92 million in Q1 2026 compared to $3.59 million in Q1 2025. Despite this reduction, the company reported a gross loss of $234,223, compared to a gross loss of $115,514 in the prior year. Operating expenses decreased to $2.63 million from $3.06 million, primarily due to lower general and administrative costs, which included a significant reduction in stock-based compensation. The net loss for the quarter was $2.68 million, an improvement from a net loss of $3.17 million in the same quarter of 2025.
In terms of strategic developments, Jet.AI has been actively pursuing a transition to AI data center operations. The company has made substantial investments in joint ventures, including a partnership with Consensus Core Technologies to develop data centers, and has also invested approximately $2.7 million in AI Infrastructure Acquisition Corp. (AIIA). This investment is expected to enhance Jet.AI's capabilities in the AI sector, aligning with its strategic pivot.
Operationally, Jet.AI's customer engagement metrics have been affected by the transition. The company reported a decrease in flight hours and related revenues, with only $59,000 generated from jet card and fractional programs in Q1 2026, down from $343,000 in Q1 2025. The company also noted a deferred revenue balance of approximately $465,000 as of March 31, 2026, reflecting prepaid flight hours that have not yet been utilized.
Looking ahead, Jet.AI anticipates continued operating losses as it implements its strategic initiatives. The company plans to utilize its cash reserves and potential equity or debt financing to support operations. However, management has indicated that if sufficient capital cannot be raised, it may need to reduce operational scope to preserve cash. The company is also preparing for the anticipated closing of its merger with flyExclusive, which is expected to occur in the second quarter of 2026, marking a significant shift in its business model.
About Jet.AI Inc.
Jet.AI Inc. develops AI-driven software and platforms for private aviation, including booking apps, SaaS tools for aircraft operators, and AI models for trip optimization and automation. The company offers fractional jet programs, jet cards, and aircraft management services primarily serving high-net-worth individuals and aircraft operators. Its core value lies in leveraging AI to enhance efficiency, scalability, and customer experience in the private jet industry.
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