FLYEXCLUSIVE INC. Revenue Disclosure
7. Revenue
The following table disaggregates revenue by service type and the timing of when these services are provided to the member or customer:
|
Year Ended December 31, |
|
|||||
|
2025 |
|
|
2024 |
|
||
Services transferred at a point in time: |
|
|
|
|
|
||
Flights |
$ |
353,867 |
|
|
$ |
308,283 |
|
Aircraft management services |
|
2,101 |
|
|
|
1,942 |
|
Services transferred over time: |
|
|
|
|
|
||
Memberships |
|
132 |
|
|
|
4,005 |
|
MRO |
|
10,623 |
|
|
|
7,166 |
|
Fractional ownership purchase price |
|
9,154 |
|
|
|
5,877 |
|
|
$ |
375,877 |
|
|
$ |
327,274 |
|
Transaction Price
The transaction prices for each of the primary revenue streams are as follows:
The following table provide a rollforward of deferred revenue:
|
|
Amount |
|
|
Balance as of December 31, 2024 |
|
$ |
149,517 |
|
Revenue recognized |
|
|
(281,521 |
) |
Revenue deferred |
|
|
294,323 |
|
Balance as of December 31, 2025 |
|
$ |
162,319 |
|
The increase in deferred revenue at December 31, 2025 compared to December 31, 2024 is due to increased customer billings for services relating to timing of satisfaction of the Company’s performance obligations.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 5, 2026 | Showing above |
| 2024 | Mar 24, 2025 | |
| 2023 | May 1, 2024 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.