Summary by Moomoo AI
Jet.AI Inc. reported financial results for the quarter ended June 30, 2024, with revenues of $3.08 million, a slight increase from $2.79 million in the same period last year. The company experienced a gross loss of $416,996 due to increased costs, compared to a loss of $200,823 in the previous year. Operating expenses rose to $2.8 million, driven by a $548,000 increase in general and administrative expenses. The company's net loss widened to $3.22 million from $2.45 million year-over-year. Jet.AI's business development included the management of customer aircraft, generating $1.7 million in service revenue, and software-related revenue from charter bookings through its app, totaling $2.3 million. The company's future plans involve driving revenue and operating profit growth through aircraft acquisitions, higher average hourly pricing...Show More
