Volato Group, Inc. (SOAR) Balance Sheet
SOAR balance sheet, 2025
December 31, 2025 · U.S. dollars$12.0M assets = $13.8M liabilities + −$1.8M equity
Liabilities exceed assets: shareholders’ equity is negative (−$1.8M).
Both columns are drawn to the same scale: what SOAR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
SOAR financial health
Descriptive bands, not a rating. Fiscal 2025.
SOAR balance sheet trends, 2021–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $15.0M2021 | $12.0M2025 | −5.5%/yr | |
| Total liabilities | $7.1M2021 | $13.8M2025 | +18.2%/yr | |
| Shareholders’ equity | $3.6M2021 | −$1.8M2025 | — | |
| Cash & short-term investments | $1.6M2021 | $7.6M2025 | +47.6%/yr | |
| Total debt | $6.0M2021 | $4.4M2025 | −7.7%/yr | |
| Net cash (debt) | −$4.4M2021 | $3.3M2025 | +$7.7M | |
| Working capital | −$3.0M2021 | −$3.9M2025 | −$938,324 | |
| Current ratio | 0.582021 | 0.722025 | +0.13 | |
| Debt / equity | 1.662021 | 2.012023 | +0.35 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SOAR assets
SOAR liabilities and equity
SOAR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
SOAR balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $7.6M | $2.2M | $14.5M | $5.8M | $1.6M |
| Cash & equivalents | $4.7M | $2.2M | $14.5M | $5.8M | $1.6M |
| Short-term investments | $2.9M | $0 | — | $833,334 | $1.5M |
| Receivables | $943,000 | $2,000 | $3.0M | $1.9M | $422,785 |
| Inventory | $0 | $0 | $25.1M | $833,000 | $1.5M |
| Other current assets | $1.2M | $41.2M | $3.9M | $2.2M | $579,711 |
| Total current assets | $9.8M | $43.3M | $46.5M | $10.7M | $4.1M |
| Property, plant & equipment (net) | $451,000 | $850,000 | $2.1M | $1.9M | $10.5M |
| Goodwill & intangible assets | $0 | $1.8M | $2.0M | $2.2M | $163,000 |
| Long-term investments | $0 | $0 | $154,000 | $1.2M | $163,000 |
| Other non-current assets | $1.7M | $300,000 | $20.9M | $14.2M | $57,732 |
| Total assets | $12.0M | $46.3M | $71.7M | $30.3M | $15.0M |
| Liabilities | |||||
| Accounts payable | $3.4M | $5.7M | $9.9M | $3.7M | $519,244 |
| Short-term debt | $4.3M | $32.9M | $20.7M | $24.3M | $6.0M |
| Deferred revenue | $2.8M | $11.5M | $12.9M | $2.2M | $546,000 |
| Total current liabilities | $13.7M | $62.2M | $47.6M | $30.2M | $7.1M |
| Long-term debt | $0 | $0 | $8.1M | $4.2M | $0 |
| Lease obligations | $128,000 | $167,000 | $1.3M | $1.6M | $0 |
| Other long-term liabilities | $85,000 | $433,000 | $1.3M | $1.6M | $1 |
| Total liabilities | $13.8M | $62.6M | $57.0M | $35.9M | $7.1M |
| Shareholders' equity | |||||
| Common stock & paid-in capital | $5,000 | $5,000 | $3,000 | $1,000 | $7,120 |
| Retained earnings (deficit) | −$100.8M | −$104.3M | −$63.7M | −$10.8M | −$1.5M |
| Accumulated other comprehensive income | — | — | — | — | −$50,000 |
| Minority interest | — | — | — | $0 | — |
| Total shareholders' equity | −$1.8M | −$16.3M | $14.8M | −$5.7M | $3.6M |
| Key figures | |||||
| Total debt | $4.4M | $33.1M | $29.7M | $29.8M | $6.0M |
| Net cash (debt) | $3.3M | −$30.9M | −$15.2M | −$24.0M | −$4.4M |
| Working capital | −$3.9M | −$18.9M | −$1.1M | −$19.5M | −$3.0M |
| Tangible book value | −$1.8M | −$18.2M | $12.7M | −$7.9M | $3.4M |
| Current ratio | 0.72 | 0.70 | 0.98 | 0.35 | 0.58 |
| Quick ratio | 0.63 | 0.03 | 0.37 | 0.25 | 0.29 |
| Debt / equity | — | — | 2.01 | — | 1.66 |
| Equity / assets | −15.5% | −35.3% | 20.6% | −18.7% | 24.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $9.1M | $3.3M | $7.6M | $6.3M | $4.7M | $2.6M | $2.2M | $3.8M | $5.4M | $6.4M | $14.5M | $7.9M |
| Cash & equivalents | $8.4M | $1.9M | $4.7M | $4.3M | $4.7M | $2.6M | $2.2M | $3.8M | $5.4M | $6.4M | $14.5M | $7.9M |
| Short-term investments | $643,000 | $1.4M | $2.9M | $1.9M | — | — | $0 | — | — | — | — | — |
| Receivables | $1.2M | $1.1M | $943,000 | $670,000 | $349,000 | $57,000 | $2,000 | $118,000 | $2.0M | $2.4M | $3.0M | $2.0M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | $0 | $0 | $0 |
| Other current assets | $885,000 | $1.3M | $1.2M | $4.4M | $5.6M | $18.3M | $41.2M | $39.9M | $53.6M | $30.7M | $29.0M | $33.9M |
| Total current assets | $11.2M | $5.7M | $9.8M | $11.3M | $10.7M | $20.9M | $43.3M | $43.8M | $61.0M | $39.6M | $46.5M | $43.9M |
| Property, plant & equipment (net) | $609,000 | $501,000 | $451,000 | $480,000 | $570,000 | $737,000 | $850,000 | $972,000 | $1.9M | $2.0M | $2.1M | $2.4M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $1.8M | $1.8M | $2.0M | $2.0M | $2.0M | $2.0M | $2.0M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $162,000 | $158,000 | $158,000 | $0 |
| Other non-current assets | $1.8M | $1.7M | $1.7M | $1.8M | $1.8M | $0 | $300,000 | $1.2M | $191,000 | $24.4M | $20.9M | $5.5M |
| Total assets | $13.5M | $7.9M | $12.0M | $13.6M | $13.0M | $23.4M | $46.3M | $47.9M | $65.3M | $68.2M | $71.7M | $53.7M |
| Liabilities | ||||||||||||
| Accounts payable | $5.3M | $3.2M | $3.4M | $2.7M | $3.3M | $5.5M | $5.7M | $7.6M | $13.1M | $10.9M | $9.9M | $10.6M |
| Short-term debt | $46,000 | $292,000 | $4.3M | $3.1M | $1.5M | $13.3M | $32.9M | $30.6M | $37.1M | $21.3M | $20.7M | $1.3M |
| Deferred revenue | $4.6M | $3.4M | $2.8M | $1.9M | $6.8M | $9.3M | $11.5M | $11.8M | $29.0M | $19.0M | $19.0M | — |
| Total current liabilities | $10.0M | $8.3M | $13.7M | $9.4M | $20.0M | $39.1M | $62.2M | $66.4M | $79.2M | $51.3M | $47.6M | $18.4M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $14.0M | $14.0M | $0 |
| Lease obligations | $107,000 | $118,000 | $128,000 | $138,000 | $148,000 | $158,000 | $167,000 | $176,000 | $1.1M | $1.2M | $1.2M | — |
| Other long-term liabilities | $61,000 | $73,000 | $85,000 | $96,000 | $107,000 | $118,000 | $433,000 | $1.2M | $1.1M | $1.2M | $0 | $19.8M |
| Total liabilities | $10.1M | $8.4M | $13.8M | $9.5M | $20.1M | $39.2M | $62.6M | $67.6M | $80.3M | $66.5M | $57.0M | $38.1M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $10,000 | $6,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $3,000 | $3,000 | $3,000 | $3,000 | $7,324 |
| Retained earnings (deficit) | −$105.5M | −$103.4M | −$100.8M | −$93.1M | −$100.2M | −$103.9M | −$104.3M | −$102.4M | −$98.0M | −$81.1M | −$63.7M | −$40.0M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | — | $0 | — | −$14,999 |
| Total shareholders' equity | $3.5M | −$446,000 | −$1.8M | $4.1M | −$7.1M | −$15.8M | −$16.3M | −$19.6M | −$15.0M | $1.7M | $14.8M | $15.6M |
| Key figures | ||||||||||||
| Total debt | $107,000 | $365,000 | $4.4M | $3.2M | $1.6M | $13.4M | $33.1M | $30.8M | $37.9M | $36.2M | $29.7M | $20.8M |
| Net cash (debt) | $9.0M | $2.9M | $3.3M | $3.1M | $3.1M | −$10.8M | −$30.9M | −$27.0M | −$32.5M | −$29.8M | −$15.2M | −$12.9M |
| Working capital | $1.1M | −$2.5M | −$3.9M | $1.9M | −$9.3M | −$18.2M | −$18.9M | −$22.6M | −$18.2M | −$11.7M | −$1.1M | $25.5M |
| Tangible book value | $3.5M | −$446,000 | −$1.8M | $4.1M | −$7.1M | −$17.7M | −$18.2M | −$21.6M | −$17.0M | −$317,000 | $12.7M | $13.6M |
| Book value per share | — | — | −$0.04 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | — | — | 43.9M | — | — | — | — | — | — | — | — | — |
| Current ratio | 1.11 | 0.69 | 0.72 | 1.21 | 0.53 | 0.53 | 0.70 | 0.66 | 0.77 | 0.77 | 0.98 | 2.39 |
| Quick ratio | 1.03 | 0.53 | 0.63 | 0.74 | 0.25 | 0.07 | 0.03 | 0.06 | 0.09 | 0.17 | 0.37 | 0.54 |
| Debt / equity | 0.03 | — | — | 0.78 | — | — | — | — | — | 21.40 | 2.01 | 1.33 |
| Equity / assets | 25.6% | −5.6% | −15.5% | 30.2% | −54.1% | −67.6% | −35.3% | −41.0% | −23.0% | 2.5% | 20.6% | 29.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 12, 2026); data from EODHD.
SOAR financial position
At the end of fiscal 2025 (December 31, 2025), Volato had total assets of $12.0 million (down 74.2% from a year earlier), total liabilities of $13.8 million and shareholders' equity of -$1.8 million. It held $7.6 million in cash and short-term investments against $4.4 million of debt, a net cash position of $3.3 million. Its current ratio was 0.72. In the latest quarter (ended June 30, 2026) total assets were $13.5 million and equity $3.5 million.
Related: SOAR income statement, SOAR cash flow statement, SOAR key metrics. See the SOAR stock overview for the latest quote and news.
SOAR balance sheet FAQ
What are Volato's total assets?
Volato reported total assets of $12.0 million at the end of fiscal 2025 (December 31, 2025), compared with $46.3 million a year earlier.
How much debt does Volato have?
Volato had $4.4 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does Volato have?
Volato held $7.6 million in cash and short-term investments at the end of fiscal 2025; with $4.4 million of debt that is net cash of $3.3 million.
What is Volato's book value?
Volato's shareholders' equity (book value) was -$1.8 million at the end of fiscal 2025.
What is Volato's current ratio?
Volato had current assets of $9.8 million and current liabilities of $13.7 million, a current ratio of 0.72 (current liabilities exceed current assets).