🔹 Revenue: Not specified (pre-revenue stage)
🔹 Net Loss: $(93.4)M, improved from $(116.5)M YoY
🔹 Adj EBITDA: $(109.0)M, widened from $(86.8)M YoY
🔹 Total Operating Expenses (GAAP): $144.0M, flat YoY
🔹 Non-GAAP Operating Expenses: $113.1M, +$24M YoY
🔹 Cash & Equivalents: $1.03B, +$195.9M QoQ (record high)
🔹 Cash Burn (Ops + Investing): $(104.6)M
🔹 Shares Outstanding: ~540.4M
🔹 EPS (GAAP): $(0.17), improved from $(0.36) YoY
Strategic & Commercial Updates
🔸 UAE launch on track – Midnight aircraft delivery expected in coming months; infrastructure approved
🔸 First "Launch Edition" customers: Abu Dhabi Aviation & Ethiopian Airlines
🔸 Palantir partnership – Joint development of AI-based aviation systems
🔸 NYC air taxi network with United Airlines – Ongoing infrastructure and operational planning
Q2 2025 Guidance
🔹 Adjusted EBITDA: $(100)M to $(120)M
