v3.26.1
Revenue
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue
7.
Revenue

Disaggregation of Revenue

The following table disaggregates revenue by service type and the timing of when these services are provided to the member or customer:

 

 

Three Months Ended March 31,

 

 

2026

 

 

2025

 

Services transferred at a point in time:

 

 

 

 

 

 

Flights

 

$

92,237

 

 

$

82,747

 

Aircraft Management Services

 

 

335

 

 

 

765

 

Services transferred over time:

 

 

 

 

 

 

Memberships

 

 

(116

)

 

 

1,056

 

MRO

 

 

2,008

 

 

 

1,761

 

Fractional ownership purchase price

 

 

1,886

 

 

 

1,796

 

 

$

96,350

 

 

$

88,125

 

Transaction Price

The transaction prices for each of the primary revenue streams are as follows:

•
Jet Club and Charter – Membership fees (less credits issued), and flight related charges based on trips flown
•
MRO – Time and materials incurred for services performed
•
Fractional Ownership – The portion of fractional interest purchase price (less credits issued) allocated to revenue, and flight related charges based on trips flown
•
Aircraft Management Services – Fixed monthly management fees charged to third-party aircraft owners.

The following table provides a rollforward of deferred revenue for the three months ended March 31, 2026:

 

 

 

 

 

 

2026

 

 

2025

 

Balance as of January 1

 

$

162,319

 

 

$

149,517

 

Revenue recognized

 

 

(75,516

)

 

 

(78,773

)

Revenue deferred

 

 

68,629

 

 

 

76,370

 

Balance as of March 31

 

$

155,432

 

 

$

147,114