# flyExclusive, Inc. (FLYX) · Edgar & Edgarette company card

> flyExclusive (FLYX) grew revenue 14.9% in FY2025 to $376 million, operating margin -12.6% against a 2.4% median for air transportation, nonscheduled, equity -74.3% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1843973 · fiscal year ended 2025-12-31 · 4 audited years read · [page](https://www.pops4.com/boards/company/FLYX) · [JSON](https://www.pops4.com/boards/company/FLYX.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $376M |
| Revenue growth, 1 year | 14.9% |
| Revenue growth per year | 5.5% |
| Operating margin | -12.6% (prior year -25.3%) |
| Net margin | -17.9% |
| Operating cash flow | $7M |
| Capital spending | $31M |
| Free cash flow | −$24M |
| Cash | $29M |
| Long-term debt | $109M |
| Total assets | $440M |
| Total equity | −$327M |
| Equity ÷ assets | -74.3% |
| Return on equity | — |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: -7.55 (distress zone)
- Piotroski F: 6 of 9 (solid)
- Health Harbor boat: Old boat · three warning signs · liabilities exceed assets (often from years of share buybacks, not always distress); operating loss: a margin of -12.6% in FY2025; free cash flow was negative: capital spending outran operating cash (-$24.3M in FY2025)
- Cash Compass: In between · no clear cash pattern yet

## Edgarette's reading

Exposure: revenue $375.9M (FY2025), total debt $108.9M. Experience: revenue up 14.9% on the year, up 5.5% a year over 3 years; operating margin -12.6%, up from -25.3%. Soundness: equity -74.3% of assets (liabilities exceed assets). Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $348.4M and $473.0M next year (method v4.1: its own 3-year record of growth weighed at 40% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $322.5M to $512.6M. A statistical range, not company guidance. Against peers (16 filers, $50M+ revenue, its industry group): operating margin -12.6% against a 2.4% median; growth 14.9% against 4.2%.

Range logged 2026-09-25, receipt f436fb523bac298e, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 2, latest 2026-08-25 ([filing](https://www.sec.gov/Archives/edgar/data/1843973/000119312526365105/0001193125-26-365105-index.htm))

## Recent filings

- 8-K · filed 2026-10-28 · 8.01 Other Events · [filing](https://www.sec.gov/Archives/edgar/data/1843973/000119312526435726/0001193125-26-435726-index.htm)
- 8-K · filed 2026-09-04 · 1.01 Entry into a Material Definitive Agreement; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1843973/000119312526383622/0001193125-26-383622-index.htm)
- 8-K · filed 2026-08-25 · 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1843973/000119312526365105/0001193125-26-365105-index.htm)
- 8-K · filed 2026-08-12 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1843973/000119312526345834/0001193125-26-345834-index.htm)
- 10-Q · filed 2026-08-12 · [filing](https://www.sec.gov/Archives/edgar/data/1843973/000119312526345831/0001193125-26-345831-index.htm)
- 8-K · filed 2026-07-14 · 1.01 Entry into a Material Definitive Agreement; 2.01 Completion of Acquisition or Disposition of Assets; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1843973/000119312526302638/0001193125-26-302638-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001843973.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1843973

## Cite

POPS4, Edgar & Edgarette: flyExclusive, Inc. (FLYX) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/FLYX. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.