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Side-by-side financial comparison of FLYEXCLUSIVE INC. (FLYX) and Volato Group, Inc. (SOAR). Click either name above to swap in a different company.
FLYEXCLUSIVE INC. is the larger business by last-quarter revenue ($92.1M vs $381.0K, roughly 241.8× Volato Group, Inc.). Volato Group, Inc. runs the higher net margin — 1875.3% vs -4.6%, a 1880.0% gap on every dollar of revenue. On growth, FLYEXCLUSIVE INC. posted the faster year-over-year revenue change (19.8% vs -99.0%). Volato Group, Inc. produced more free cash flow last quarter ($-3.0M vs $-11.0M). Over the past eight quarters, FLYEXCLUSIVE INC.'s revenue compounded faster (21.9% CAGR vs -67.7%).
FLYEXCLUSIVE INC. is a U.S.-headquartered private aviation services provider that offers private jet charter, aircraft management, maintenance repair, and fractional ownership programs. It primarily serves high-net-worth individuals, corporate clients, and government entities across North America, delivering personalized on-demand air travel solutions prioritizing safety and convenience.
Volato Aeronaves also known as Volato Aeronaves e Compósitos Ltda is a Brazilian aircraft manufacturer.
FLYX vs SOAR — Head-to-Head
Income Statement — Q3 2025 vs Q3 2025
| Metric | | |
|---|---|---|
| Revenue | $92.1M | $381.0K |
| Net Profit | $-4.3M | $7.1M |
| Gross Margin | 13.7% | 67.7% |
| Operating Margin | -12.3% | -673.0% |
| Net Margin | -4.6% | 1875.3% |
| Revenue YoY | 19.8% | -99.0% |
| Net Profit YoY | 32.0% | 261.1% |
| EPS (diluted) | $-0.25 | $1.26 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q3 25 | $92.1M | $381.0K | ||
| Q2 25 | $91.3M | $24.9M | ||
| Q1 25 | $88.1M | $25.5M | ||
| Q3 24 | $76.9M | $38.5M | ||
| Q2 24 | $79.0M | $181.0K | ||
| Q1 24 | $80.0M | $48.0K | ||
| Q4 23 | $76.0M | $3.2M | ||
| Q3 23 | $62.0M | $3.7M |
| Q3 25 | $-4.3M | $7.1M | ||
| Q2 25 | $-4.8M | $3.6M | ||
| Q1 25 | $-5.4M | $455.0K | ||
| Q3 24 | $-6.3M | $-4.4M | ||
| Q2 24 | $-5.2M | $-16.9M | ||
| Q1 24 | $-5.8M | $-17.4M | ||
| Q4 23 | $-23.4M | $-23.6M | ||
| Q3 23 | $-22.1M | $-11.8M |
| Q3 25 | 13.7% | 67.7% | ||
| Q2 25 | 15.0% | 15.2% | ||
| Q1 25 | 12.8% | 17.6% | ||
| Q3 24 | 11.3% | 16.6% | ||
| Q2 24 | 7.9% | 81.2% | ||
| Q1 24 | 7.2% | -8.3% | ||
| Q4 23 | 7.0% | — | ||
| Q3 23 | -2.0% | 8.7% |
| Q3 25 | -12.3% | -673.0% | ||
| Q2 25 | -13.5% | 3.5% | ||
| Q1 25 | -16.7% | 9.9% | ||
| Q3 24 | -27.2% | 5.5% | ||
| Q2 24 | -27.6% | -2017.1% | ||
| Q1 24 | -34.3% | -9029.2% | ||
| Q4 23 | -30.9% | — | ||
| Q3 23 | -25.6% | -50.2% |
| Q3 25 | -4.6% | 1875.3% | ||
| Q2 25 | -5.2% | 14.5% | ||
| Q1 25 | -6.2% | 1.8% | ||
| Q3 24 | -8.2% | -11.5% | ||
| Q2 24 | -6.5% | -9347.0% | ||
| Q1 24 | -7.3% | -36229.2% | ||
| Q4 23 | -30.9% | -729.2% | ||
| Q3 23 | -35.6% | -323.6% |
| Q3 25 | $-0.25 | $1.26 | ||
| Q2 25 | $-0.26 | $0.75 | ||
| Q1 25 | $-0.30 | $0.03 | ||
| Q3 24 | $-0.32 | $-3.76 | ||
| Q2 24 | $-0.32 | $-14.41 | ||
| Q1 24 | $-0.35 | $-14.93 | ||
| Q4 23 | — | $-84.38 | ||
| Q3 23 | — | $-0.71 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $18.7M | — |
| Total DebtLower is stronger | $123.9M | — |
| Stockholders' EquityBook value | $-434.2M | $4.1M |
| Total Assets | $448.1M | $13.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $18.7M | — | ||
| Q2 25 | $15.8M | — | ||
| Q1 25 | $14.7M | — | ||
| Q3 24 | $18.7M | — | ||
| Q2 24 | $9.3M | — | ||
| Q1 24 | $5.3M | — | ||
| Q4 23 | $11.6M | — | ||
| Q3 23 | $454.8K | — |
| Q3 25 | $123.9M | — | ||
| Q2 25 | $111.6M | — | ||
| Q1 25 | $121.6M | — | ||
| Q3 24 | $197.9M | — | ||
| Q2 24 | $206.3M | — | ||
| Q1 24 | $209.4M | — | ||
| Q4 23 | $193.3M | — | ||
| Q3 23 | — | — |
| Q3 25 | $-434.2M | $4.1M | ||
| Q2 25 | $-261.4M | $-7.1M | ||
| Q1 25 | $-281.5M | $-15.8M | ||
| Q3 24 | $-192.0M | $-19.6M | ||
| Q2 24 | $-149.7M | $-15.0M | ||
| Q1 24 | $-149.5M | $1.7M | ||
| Q4 23 | $46.5M | $14.8M | ||
| Q3 23 | $-17.4M | $-34.8M |
| Q3 25 | $448.1M | $13.6M | ||
| Q2 25 | $443.4M | $13.0M | ||
| Q1 25 | $466.8M | $23.4M | ||
| Q3 24 | $487.1M | $47.9M | ||
| Q2 24 | $494.7M | $65.3M | ||
| Q1 24 | $524.1M | $68.2M | ||
| Q4 23 | $521.0M | $71.7M | ||
| Q3 23 | $45.7M | $70.4M |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | 4.16× | — | ||
| Q3 23 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-209.0K | $-3.0M |
| Free Cash FlowOCF − Capex | $-11.0M | $-3.0M |
| FCF MarginFCF / Revenue | -12.0% | -799.7% |
| Capex IntensityCapex / Revenue | 11.7% | 18.1% |
| Cash ConversionOCF / Net Profit | — | -0.42× |
| TTM Free Cash FlowTrailing 4 quarters | $-51.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $-209.0K | $-3.0M | ||
| Q2 25 | $363.0K | $848.0K | ||
| Q1 25 | $-10.5M | $-312.0K | ||
| Q3 24 | $-12.3M | $-3.1M | ||
| Q2 24 | $-16.2M | $330.0K | ||
| Q1 24 | $-26.0M | $-7.7M | ||
| Q4 23 | $5.0M | $-6.3M | ||
| Q3 23 | $10.9M | $-10.9M |
| Q3 25 | $-11.0M | $-3.0M | ||
| Q2 25 | $353.0K | — | ||
| Q1 25 | $-14.6M | — | ||
| Q3 24 | $-25.7M | $-3.2M | ||
| Q2 24 | $-26.6M | $276.0K | ||
| Q1 24 | $-64.5M | $-7.8M | ||
| Q4 23 | $-11.6M | $-6.5M | ||
| Q3 23 | $-19.3M | $-11.1M |
| Q3 25 | -12.0% | -799.7% | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | -16.5% | — | ||
| Q3 24 | -33.5% | -8.2% | ||
| Q2 24 | -33.7% | 152.5% | ||
| Q1 24 | -80.6% | -16152.1% | ||
| Q4 23 | -15.3% | -199.4% | ||
| Q3 23 | -31.0% | -304.7% |
| Q3 25 | 11.7% | 18.1% | ||
| Q2 25 | 0.0% | 0.0% | ||
| Q1 25 | 4.7% | 0.0% | ||
| Q3 24 | 17.5% | 0.1% | ||
| Q2 24 | 13.2% | 29.8% | ||
| Q1 24 | 48.2% | 116.7% | ||
| Q4 23 | 21.9% | 5.7% | ||
| Q3 23 | 48.7% | 7.4% |
| Q3 25 | — | -0.42× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | -0.69× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
