Global Crossing Airlines Group Inc. financial statements
Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data Global Crossing Airlines Group Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2022
FY2022
FY2023
FY2024
FY2025
Revenue
14.3
97.1
160
224
246
Operating expenses
31.5
108
176
225
237
Operating income
-17.2
-11.2
-15.9
-1.13
8.91
Interest expense
0.03
1.62
4.92
8.96
11.5
Other non-operating income
-2.84
-4.58
-4.92
-10.3
-11.5
Pre-tax income
-20
-15.8
Income tax
0
0
0
0
0.02
Net income to minority interests
0.23
0.09
0.43
Net income
-19.8
-15.8
-21
-11.5
-3.05
EBITDA
-17.1
-10.6
-13.6
5.14
20.9
EPS, basic
-0.43
-0.30
-0.37
-0.19
-0.05
EPS, diluted
-0.43
-0.30
-0.37
-0.19
-0.05
Shares, basic (weighted)
46.2
52.1
56.8
60.4
64.1
Shares, diluted (weighted)
46.2
52.1
56.8
60.4
64.1
Balance sheet
FY2022
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
5.24
1.88
11.6
12.3
16.7
Receivables
0.75
2.66
10.2
6.68
6.78
Other current assets
0.93
2.19
2.55
2.14
3.53
Total current assets
9.67
11.7
30.6
23.4
31.2
Property, plant and equipment
0.62
2.44
5.53
10.3
33.6
Lease right-of-use assets
22.7
28
76.9
89.8
72.8
Other non-current assets
0.63
1.72
4.23
4.68
Total assets
39.1
51.2
131
167
203
Accounts payable
2.06
5
7.48
12.6
13.9
Accrued liabilities
4.22
9.46
17.5
20.4
28.9
Deferred revenue
2
3.2
9.9
8.9
16.8
Total current liabilities
14.7
27.9
53
65.9
91.7
Long-term debt
5.08
29.2
29.7
40.4
Lease liabilities
20
23.2
65.2
75.1
59.4
Other non-current liabilities
0.08
2.28
0.55
0.29
0.29
Total liabilities
34.8
58.4
151
196
233
Total debt
6.89
Paid-in capital
26.5
30.8
38.9
40.9
44
Retained earnings
-22.3
-38.1
-59.1
-70.6
-73.6
Shareholders' equity
4.25
-7.26
-20.1
-29.6
-29.5
Minority interests
0.23
0.09
0.05
Total equity
4.25
-7.26
-19.9
-29.5
-29.5
Total liabilities and equity
39.1
51.2
131
167
203
Shares outstanding
51.2
53.4
58.9
61.8
Cash flow statement
FY2022
FY2022
FY2023
FY2024
FY2025
Net income
-20
-15.8
-20.8
-11.4
-2.62
Depreciation and amortization
0.03
0.61
2.29
6.27
12
Stock-based compensation
1.25
1.39
2.47
1.68
2.74
Change in receivables
-0.75
-1.95
-7.75
3.24
-0.54
Change in payables
2.07
2.94
2.37
5.28
1.32
Cash from operations
-10.8
-3.6
-1.38
8.07
28.1
Capital expenditures
-0.65
-1.91
-4.04
-7.22
-11.6
Cash from investing
-0.65
-5.16
-13.2
-9.99
-14.3
Stock issued
19
0.8
1.87
0.33
0.33
Dividends paid
-0.23
-0.47
Cash from financing
18.9
6.23
26.8
-1.71
-7.35
Net change in cash
7.45
-2.53
12.2
-3.63
6.46
Free cash flow
-11.5
-5.51
-5.42
0.85
16.5
Interest paid
0.03
0.62
0.75
8.14
11.1
Income taxes paid
0
0
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $0.55 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
3.9%
Operating income / revenue.
EBITDA margin
10.6%
EBITDA (operating income + depreciation and amortization) / revenue.
Net margin
-1.0%
Net income / revenue.
FCF margin
5.5%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
10.3%
Cash from operations / revenue.
Return on assets (ROA)
-1.2%
Net income / average total assets.
Stock-based pay / revenue
1.0%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
4.8%
Capital expenditures / revenue.
D&A / revenue
6.8%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
10.1%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
36.4%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y
305.8%
EBITDA vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
248.1%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y
1,833.0%
Free cash flow vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
21.8%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
58.3%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
6.2%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
7.2%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.25x
Current assets / current liabilities.
Quick ratio
0.16x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.11x
(Cash + short-term investments) / current liabilities.
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.04
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$3.84
Revenue / diluted weighted shares.
FCF per share
$0.21
Free cash flow / diluted weighted shares.
Operating cash flow per share
$0.40
Cash from operations / diluted weighted shares.
Book value per share
-$0.40
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
What was Global Crossing Airlines Group Inc.'s revenue in fiscal 2025?
Global Crossing Airlines Group Inc. reported revenue of $246.3M for fiscal 2025, 10.1% higher than the year before.
Was Global Crossing Airlines Group Inc. profitable in fiscal 2025?
No. It reported a net loss of $3.1M.
How much free cash flow did Global Crossing Airlines Group Inc. generate in fiscal 2025?
Cash from operations of $28.1M minus capital expenditures of $11.6M left free cash flow of $16.5M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.