flyExclusive, Inc., a provider of premium private jet experiences, has reported financial results for the second quarter and first half ended June 30, 2026. The company generated record second-quarter revenue of USD 111.1 million, up 22% year over year, and its third consecutive quarter of positive Adjusted EBITDA, producing more revenue from a smaller, more productive fleet.
The company achieved those results with 6% fewer aircraft than a year ago, as flight hours increased 8%, core fleet utilization increased 14%, gross profit increased 65% and gross margin expanded more than 500 basis points to 20.4%. Adjusted EBITDA of USD 4.2 million improved USD 9.4 million from a USD (5.2) million loss a year earlier. The results extend a two-year transformation in which second-quarter revenue has grown more than 40%.
“The second quarter provides clear evidence of how fundamentally this business has changed. The operating model has been rebuilt, and investors should no longer view flyExclusive as a company in transition,” said Jim Segrave, founder and chief executive Officer. “The question is no longer whether flyExclusive can become profitable. We are profitable. The opportunity now is demonstrating how much earnings power this platform can produce as we scale it.”
Growth was broad-based. Charter, or flight, revenue rose approximately 20% to USD 103.9 million, led by a USD 9 million increase from the Challenger fleet, which grew to 10 aircraft, and 36% growth in the light-jet category. Retail fractional share sales and flight-fund deployments increased 34% to USD 14.6 million, Jet Club retail sales rose 13% to USD 30.0 million across 997 revenue-contributing members, and external maintenance, repair, and overhaul (MRO) revenue grew 52% to USD 4.4 million.
That momentum closed a banner first half of 2026, where revenue increased 15% to USD 207.5 million, gross profit grew 67% to approximately USD 41.8 million, and Adjusted EBITDA of approximately USD 4.4 million improved USD 16 million over the prior-year period. First-half Adjusted EBITDA improved by nearly USD 40 million in two years, from an approximately USD (35) million loss in 2024 to a positive USD 4.4 million in 2026.
The gains reflect steady operational and cost improvement. Dispatch availability rose more than 1,000 basis points year over year, from approximately 48% to 58%, against a target of more than 70%, and at the current fleet size each additional percentage point represents roughly USD 2.5 million of annual contribution. SG&A fell to approximately 18% of first-half revenue from 29% two years ago, while revenue per SG&A employee surpassed USD 1 million, up more than 50% over the same span, reflecting real operating leverage rather than simple cost-cutting.
