Mesa Air Group, Inc. (MESA) Revenue History
Annual and quarterly revenue from 2007 to 2025
Compound Annual Growth Rate (CAGR)
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MESA Revenue Growth
Revenue Breakdown (FY 2024)
MESA's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
MESA Revenue Analysis (2007–2025)
As of May 8, 2026, Mesa Air Group, Inc. (MESA) generated trailing twelve-month (TTM) revenue of $381.4 million, reflecting significant decline in growth of -21.3% year-over-year. The most recent quarter (Q4 2025) recorded $90.7 million in revenue, down 2.3% sequentially.
Looking at the longer-term picture, MESA's 5-year compound annual growth rate (CAGR) stands at -6.9%, indicating revenue contraction over this period. The company achieved its highest annual revenue of $1.33 billion in 2008.
Revenue diversification analysis shows MESA's business is primarily driven by Contract Revenue (85%), and Pass Through And Other Revenue (15%). With over half of revenue concentrated in Contract Revenue, the company maintains significant focus in this area while developing other growth vectors.
When compared to Industrials sector peers including SKYW (+12.3% YoY), ULCC (-0.5% YoY), and SNCY (+4.4% YoY), MESA has underperformed the peer group in terms of revenue growth. Compare MESA vs SKYW →
MESA Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| MESACurrent | $381M | -21.3% | -6.9% | -46.5% | |
 SKYW | $4.1B | +12.3% | +13.8% | 15.2% | |
 ULCC | $3.7B | -0.5% | +24.4% | -4.0% | |
 SNCY | $1.1B | +4.4% | +22.9% | 8.9% | |
 ALK | $14.2B | +21.3% | +31.9% | 2.1% | |
 JBLU | $9.1B | -0.5% | +25.1% | -4.1% |
MESA Historical Revenue Data (2007–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $381.4M | -19.9% | $378.0M | 99.1% | $-177,372,000 | -46.5% |
| 2024 | $476.4M | -4.3% | $59.4M | 12.5% | $-65,820,000 | -13.8% |
| 2023 | $498.1M | -6.2% | $15.1M | 3.0% | $-84,346,000 | -16.9% |
| 2022 | $531.0M | +5.4% | $33.5M | 6.3% | $-185,002,000 | -34.8% |
| 2021 | $503.6M | -7.6% | $1.6M | 0.3% | $63.2M | 12.5% |
| 2020 | $545.1M | -24.6% | $52.6M | 9.7% | $80.2M | 14.7% |
| 2019 | $723.4M | +6.1% | $181.2M | 25.1% | $121.1M | 16.7% |
| 2018 | $681.6M | +5.9% | $141.4M | 20.7% | $72.6M | 10.7% |
| 2017 | $643.6M | +9.5% | $139.3M | 21.6% | $100.3M | 15.6% |
| 2016 | $587.8M | -55.7% | $98.9M | 16.8% | $56.8M | 9.7% |
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Start ComparisonMESA — Frequently Asked Questions
Quick answers to the most common questions about buying MESA stock.
Is MESA's revenue growth accelerating or slowing?
MESA revenue declined -21.3% year-over-year, contrasting with the 5-year CAGR of -6.9%. TTM revenue fell to $381M. This reverses the prior growth trend.
What is MESA's long-term revenue growth rate?
Mesa Air Group, Inc.'s 5-year revenue CAGR of -6.9% reflects the variable expansion pattern. Current YoY growth of -21.3% is below this long-term average.
How is MESA's revenue distributed by segment?
MESA reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2007-2025 are available for download. Segment mix reveals concentration and diversification trends.