The company's financial stability is compromised by an accumulated deficit of $50.6M and a current ratio that dropped to 0.58 by 2025Q4, signaling severe liquidity constraints.
| Total Current Assets | 14.03M | 2.17M | 6.36M | 3.19M | 1.89M | 614.48K | 2.22M |
| Cash & Short-Term Investments | 13.5M | 1.82M | 5.87M | 2.1M | 1.53M | 614.39K | 2.22M |
| Cash Only | 13.5M | 1.82M | 5.87M | 2.1M | 1.53M | 614.39K | 2.22M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 318.5K | 97.33K | 132.23K | 96.54K | 0 | 81 | 400 |
| Days Sales Outstanding | 12.3 | 3.87 | 3.44 | 2.88 | - | - | 30.52 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 215.5K | 248.72K | 357.75K | 190.07K | 357.86K | 0 | 568 |
| Total Non-Current Assets | 25.37M | 23.52M | 4.43M | 2.55M | 3.01M | 116.72M | 986.14K |
| Property, Plant & Equipment | 373.19K | 4.56M | 3.45M | 1.58M | 2.09M | 0 | 0 |
| Fixed Asset Turnover | 2.04x | 2.01x | 4.06x | 7.73x | 10.47x | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 86.75K | 86.74K | 86.74K | 73.83K | 155.01K | 0 | 322.43K |
| Long-Term Investments | 35.75M | 18M | 106.72K | 106.72K | 15.54K | 116.72M | 0 |
| Other Non-Current Assets | 7.68M | 868.56K | 787.84K | 791.39K | 747.43K | 0 | 663.71K |
| Total Assets | 39.41M | 25.68M | 10.8M | 5.74M | 4.89M | 117.34M | 3.21M |
| Asset Turnover | 0.32x | 0.36x | 1.30x | 2.13x | 4.47x | - | 0.00x |
| Asset Growth % | 780.57% | 137.87% | 88.13% | 17.35% | -95.83% | 3557.33% | - |
| Total Current Liabilities | 3.43M | 3.71M | 3.79M | 6.95M | 2.62M | 18K | 285.19K |
| Accounts Payable | 1.35M | 1.62M | 280.45K | 1.66M | 242.93K | 0 | 280.56K |
| Days Payables Outstanding | 49.64 | 62.44 | 6.83 | 48.8 | 4.48 | - | - |
| Short-Term Debt | 0 | 0 | 0 | 587.99K | 0 | 0 | 0 |
| Deferred Revenue (Current) | 2M | 443.13K | 1.32M | 1.78M | 933.36K | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 0 | 0 | 0 | 18K | 0 |
| Current Ratio | 4.09x | 0.58x | 1.68x | 0.46x | 0.72x | 34.14x | 7.79x |
| Quick Ratio | 4.09x | 0.58x | 1.68x | 0.46x | 0.72x | 34.14x | 7.79x |
| Cash Conversion Cycle | -37.33 | - | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 0 | 495.78K | 2.72M | 1.53M | 11.09M | 121K |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 121K |
| Capital Lease Obligations | 318.2K | 0 | 495.78K | 1.02M | 1.53M | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 1.7M | 0 | 11.09M | 0 |
| Total Liabilities | 3.43M | 3.71M | 4.28M | 9.68M | 4.15M | 11.11M | 406.19K |
| Total Debt | 361.92K | 495.78K | 1.02M | 2.12M | 2.03M | 0 | 121K |
| Net Debt | -13.14M | -1.32M | -4.85M | 18.81K | 498.95K | -614.39K | -2.1M |
| Debt / Equity | 0.01x | 0.02x | 0.16x | - | 2.75x | - | 0.04x |
| Debt / EBITDA | -0.04x | - | - | - | - | - | - |
| Net Debt / EBITDA | 1.35x | - | - | - | - | - | - |
| Interest Coverage | - | - | -75.22x | -120.74x | - | - | - |
| Total Equity | 35.98M | 21.98M | 6.51M | -3.94M | 736.29K | 106.23M | 2.8M |
| Equity Growth % | 1057.36% | 237.43% | 265.46% | -634.58% | -99.31% | 3690.93% | - |
| Book Value per Share | 89.65 | 319.25 | 4665.09 | -18222.40 | 3814.99 | 329898.39 | 254740.18 |
| Total Shareholders' Equity | 35.98M | 21.98M | 6.51M | -3.94M | 736.29K | 106.23M | 2.8M |
| Common Stock | 63 | 628 | 162 | 4 | 445 | 116.73M | 12 |
| Retained Earnings | -50.64M | -47.96M | -52.55M | -39.27M | -26.66M | -10.5M | -3.15M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | -522.97K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and dilution
As reported in financial statements, Jet.AI's total assets fluctuated from $5.7M in 2023Q4 to a peak of $39.4M in 2026Q1, yet this expansion appears driven by non-operational accounting adjustments rather than organic growth, as evidenced by the persistent accumulation of a $50.6M deficit in retained earnings.
The dramatic swings in asset composition suggest a business model struggling to find a stable footing, with the recent asset spike likely masking underlying operational weakness. Investors should interpret the widening retained earnings deficit as a clear indicator that the company has failed to convert its capital base into sustainable shareholder value.
Based on the provided balance sheet data, Jet.AI's cash position plummeted from $13.5M in 2026Q1 to just $1.8M by 2025Q4, leaving the company with a current ratio of 0.58 that signals a severe inability to cover short-term obligations without immediate external financing.
The rapid depletion of cash reserves relative to the company's high operating burn rate suggests that the current liquidity buffer is insufficient to support ongoing operations. This precarious position implies that the firm may be forced into dilutive capital raises, which would further erode existing shareholder equity.
According to historical balance sheet figures, Jet.AI's equity base has been characterized by extreme instability, including periods of negative equity in 2024, which indicates that the company has relied heavily on external capital injections to offset massive, recurring operational losses.
The reliance on equity financing to maintain solvency suggests that the business model is not yet self-funding, creating a persistent risk of shareholder dilution. The lack of retained earnings growth implies that the company has not achieved the scale necessary to generate internal capital, making the equity base highly sensitive to future financing terms.
As evidenced by the discrepancy between the $36.0M equity reported in 2026Q1 and the $50.6M accumulated deficit, Jet.AI's balance sheet is heavily distorted by non-operating accounting items that obscure the true, cash-burning nature of its core aviation software and charter operations.
The presence of significant accounting adjustments suggests that headline equity figures may not reflect the company's actual economic health or its ability to generate future cash flows. Analysts should treat the reported equity as a potentially misleading metric that does not account for the structural losses inherent in the current business model.
Quick answers to the most common questions about buying JTAI stock.
As of 2025, Jet.AI Inc. (JTAI) had total assets of $25.7M including $2.2M in current assets.
Jet.AI Inc. (JTAI) carries total debt of $0.5M, offset by $1.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Jet.AI Inc. (JTAI) has total shareholders' equity (book value) of $22.0M ($319.25 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Jet.AI Inc. (JTAI) reported a current ratio of 0.58x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.