Free cash flow remains consistently negative, with a $3.0M burn in 2026Q1 that highlights the company's inability to sustain operations without external capital.
| Cash from Operations | -9.08M | -8.23M | -8.23M | -3.78M | -96.04K | -21.32K | -1.63M |
| Operating CF Margin % | - | -89.62% | -58.66% | -30.98% | -0.44% | - | -34081.31% |
| Operating CF Growth % | -2757.97% | 0.01% | -117.41% | -3839.39% | -350.48% | 98.69% | - |
| Net Income | 5.08M | 4.59M | -12.73M | -12.62M | -7.74M | -3.54M | -2.56M |
| Depreciation & Amortization | 2.55K | 2.55K | 2.56K | 135.25K | 134.38K | 0 | 0 |
| Stock-Based Compensation | 1.14M | 1.63M | 4.29M | 6.65M | 6.49M | 0 | 682.75K |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -14.03M | -13.94M | 604.9K | 597.07K | 494.47K | 3.46M | 256.6K |
| Working Capital Changes | -1.28M | -505.87K | -386.85K | 1.45M | 520.66K | 63.75K | -6.31K |
| Change in Receivables | 80.37K | 34.9K | -35.69K | -96.54K | 0 | -81 | -400 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 800.67K | 1.34M | 740.38K | 366.59K | -53.27K | 0 | 0 |
| Cash from Investing | -5.8M | -5.08M | -2.41M | -191K | 290.49K | -116.72M | -978.66K |
| Capital Expenditures | 0 | 0 | -12.92K | -4.34K | 0 | 0 | -659.21K |
| CapEx % of Revenue | 0% | - | 0.09% | 0.04% | - | - | 13782.44% |
| Acquisitions | -2.37M | -765K | -2.4M | -100K | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - |
| Other Investing | -3.43M | -1.65M | 3.55K | -86.66K | 290.49K | 0 | -319.44K |
| Cash from Financing | 16.13M | 9.25M | 14.41M | 4.55M | 689.45K | 117.36M | 4.73M |
| Debt Issued (Net) | 0 | 0 | -668.75K | 500K | -194.73K | 0 | 121K |
| Equity Issued (Net) | 16.13M | 713.37K | 14.33M | 2.83M | 1.08M | 117.36M | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | -225K | 0 | 0 |
| Other Financing | 0 | 8.53M | 742.47K | 1.22M | -200.2K | 0 | 4.61M |
| Net Change in Cash | 1.25M | -4.05M | 3.77M | 573.15K | 913K | 614.39K | 2.13M |
| Free Cash Flow | -9.08M | -8.23M | -8.24M | -3.84M | -96.04K | -21.32K | -2.29M |
| FCF Margin % | -123.01% | -89.62% | -58.75% | -31.43% | -0.44% | - | -47863.75% |
| FCF Growth % | -15.2% | 0.16% | -114.58% | -3897.56% | -350.48% | 99.07% | - |
| FCF per Share | -22.64 | -119.49 | -5901.52 | -17774.70 | -497.63 | -66.21 | -208120.27 |
| FCF Conversion (FCF/Net Income) | -1.79x | -1.79x | 0.65x | 0.30x | 0.01x | 0.01x | 0.64x |
| Interest Paid | 0 | 0 | 167.05K | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 2.46K | 2.4K | 0 | 0 |
Imminent liquidity and dilution
As reported in financial statements, Jet.AI's operating cash flow consistently fails to track with net income, evidenced by a 2025Q4 period where the company reported $12.1M in net income while generating only $692.1K in operating cash, highlighting a significant disconnect between accounting profits and actual liquidity.
The persistent gap between net income and operating cash flow suggests that the company's reported earnings are heavily influenced by non-cash items or accounting adjustments rather than core operational performance. Investors should monitor this divergence, as it indicates that the business model is not currently capable of self-funding its operations through organic cash generation.
Based on historical data, Jet.AI has maintained a negative free cash flow trajectory for nine of the last ten quarters, with cash burn reaching $3.0M in 2026Q1, underscoring the company's inability to achieve a self-sustaining financial profile despite its pivot toward AI-integrated booking platforms.
The consistent negative FCF margins suggest that the company's operational scale remains insufficient to cover its fixed cost base. This trend appears to indicate that the business is trapped in a cycle of cash consumption that necessitates external capital to maintain its current service offerings.
According to recent SEC filings, Jet.AI's working capital movements are highly erratic, with a $2.8M inflow in 2025Q4 followed by a $465.9K outflow in 2026Q1, suggesting that the company's cash position is heavily dependent on the timing of payables and receivables rather than stable operational efficiency.
This volatility in working capital suggests that management may be utilizing aggressive payables management to preserve cash in the short term. Such tactics often provide only temporary relief and do not address the underlying structural issues driving the company's persistent cash burn.
As indicated by the provided financial data, Jet.AI has directed $1.9M toward acquisitions in 2026Q1 despite having only $1.8M in cash reserves, which suggests a high-risk capital allocation strategy that prioritizes inorganic growth over the preservation of essential liquidity for ongoing operations.
The decision to deploy capital into acquisitions while operating cash flow remains deeply negative warrants further investigation into the company's long-term strategic priorities. This approach appears to exacerbate the firm's liquidity risk, potentially forcing future dilutive equity raises to cover the resulting cash shortfall.
Quick answers to the most common questions about buying JTAI stock.
Jet.AI Inc. (JTAI) generated $-8.2M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Jet.AI Inc. (JTAI) reported negative free cash flow of $8.2M in 2025, indicating capital requirements exceeded cash from operations.
Jet.AI Inc. (JTAI) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.