flyExclusive, Inc. (FLYX) Cash Flow Statement
Where FLYX’s cash came from and went, FY2026
March 31, 2026 · U.S. dollars- Cash from operations
- $6.7M
- Capital expenditures
- $30.9M 8.2% of revenue
- Free cash flow
- −$24.3M −6.5% margin
- Returned to shareholders
- $1.0M
- Change in cash
- −$2.4M cash at year-end $29.3M
Drawn to scale: where the cash came from and how it was used. Hover for values.
FLYX operating cash flow, capex and free cash flow
FLYX cash flow trends, FY2021–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $27.4MFY2021 | $6.7MFY2026 | −24.6%/yr | |
| Capital expenditures | $33.9MFY2021 | $30.9MFY2026 | −1.8%/yr | |
| Free cash flow | −$6.6MFY2021 | −$24.3MFY2026 | — | |
| Free cash flow margin | −5.4%FY2021 | −6.5%FY2026 | −1.0 pts | |
| Operating cash flow / net income | 8.26FY2021 | 25.52FY2022 | +17.26 | |
| Stock-based compensation | $0FY2023 | $4.5MFY2026 | — | |
| Dividends paid | $8.9MFY2021 | $1.0MFY2026 | −35.4%/yr | |
| Capex / revenue | 28.0%FY2021 | 8.2%FY2026 | −19.8 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FLYX cash flow by activity
FLYX net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
FLYX cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating activities | ||||||
| Net income | −$67.1M | −$101.5M | −$54.7M | −$4.2M | $2.2M | $3.3M |
| Depreciation & amortization | $23.6M | $25.7M | $27.0M | $23.1M | $17.4M | $16.1M |
| Stock-based compensation | $4.5M | $753,000 | $882,000 | $0 | — | — |
| Change in working capital | $16.9M | $36.6M | $20.9M | $26.2M | $35.3M | $12.1M |
| Other non-cash items | $28.8M | $27.5M | $14.7M | $461,000 | $2.3M | −$4.1M |
| Cash from operating activities | $6.7M | −$10.9M | $8.7M | $45.6M | $57.2M | $27.4M |
| Investing activities | ||||||
| Capital expenditures | −$30.9M | −$57.2M | −$84.4M | −$146.5M | −$65.9M | −$33.9M |
| Investments (net) | $64.6M | −$7.9M | −$62.0M | −$167.3M | −$70.8M | −$39.2M |
| Acquisitions & other investing | $81.9M | $57.2M | $84.4M | $146.5M | $65.9M | $33.9M |
| Cash from investing activities | $115.5M | −$7.9M | −$62.0M | −$167.3M | −$70.8M | −$39.2M |
| Financing activities | ||||||
| Dividends paid | −$1.0M | $0 | −$33.7M | −$9.0M | −$13.1M | −$8.9M |
| Net borrowing (repayment) | −$132.5M | $4.6M | $75.2M | $121.2M | $8.1M | — |
| Shares issued | $5.8M | $48.4M | $0 | $0 | $0 | $0 |
| Other financing | $3.1M | −$14.1M | $295,000 | $11.5M | $26.2M | $28.0M |
| Cash from financing activities | −$124.6M | $38.9M | $41.8M | $123.7M | $21.2M | $19.2M |
| Summary | ||||||
| Net change in cash | −$2.4M | $20.1M | −$11.6M | $2.0M | $7.6M | $7.4M |
| Cash at end of period | $29.3M | $31.7M | $11.6M | $23.2M | $21.1M | $13.5M |
| Free cash flow | −$24.3M | −$68.1M | −$75.8M | −$100.9M | −$8.7M | −$6.6M |
| Free cash flow margin | −6.5% | −20.8% | −24.0% | −31.5% | −4.2% | −5.4% |
| Capex / revenue | 8.2% | 17.5% | 26.8% | 45.8% | 31.7% | 28.0% |
| Operating cash flow / net income | — | — | — | — | 25.52 | 8.26 |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$11.5M | −$6.5M | −$6.9M | −$21.0M | −$16.1M | −$23.0M | −$3.8M | −$6.3M | −$5.2M | −$24.3M | −$23.1M | −$24.6M |
| Depreciation & amortization | $5.5M | $5.2M | $5.1M | $6.5M | $5.8M | $6.3M | $6.4M | $6.1M | $6.7M | $6.8M | $6.8M | $6.7M |
| Stock-based compensation | $1.7M | $1.6M | $1.6M | $828,000 | $949,000 | $1.1M | — | $0 | $0 | $882,000 | $882,000 | — |
| Change in working capital | $875,000 | −$218,000 | $13.0M | $4.5M | $3.3M | −$3.9M | $50.1M | −$1.4M | −$1.3M | $16.5M | $199,000 | $27.9M |
| Other non-cash items | $6.2M | −$711,000 | $4.3M | $8.9M | $6.4M | $9.2M | −$9.2M | −$10.7M | −$16.5M | $5.1M | $20.3M | $909,000 |
| Cash from operating activities | $2.7M | −$617,000 | $17.0M | −$209,000 | $363,000 | −$10.5M | $43.5M | −$12.3M | −$16.2M | $5.0M | $5.0M | $10.9M |
| Investing activities | ||||||||||||
| Capital expenditures | −$5.4M | −$21.8M | −$24.1M | −$10.8M | −$10,000 | −$4.1M | −$48.2M | −$4.9M | −$3.3M | −$16.9M | −$22.9M | −$30.4M |
| Investments (net) | $969,000 | −$961,000 | $0 | −$3.5M | $15.8M | $66.1M | −$30.0M | $18.6M | $33.5M | −$30.1M | −$17.9M | −$28.6M |
| Acquisitions & other investing | $1.6M | $10.3M | $60.5M | $10.8M | $10,000 | $4.1M | $48.3M | $11.0M | $3.4M | $29.0M | $22.9M | $30.4M |
| Cash from investing activities | −$2.8M | −$12.5M | $36.4M | −$3.5M | $15.8M | $66.1M | −$29.8M | $24.7M | $33.6M | −$17.9M | −$17.9M | −$28.6M |
| Financing activities | ||||||||||||
| Dividends paid | — | — | −$639,000 | −$1,000 | — | — | $0 | $0 | $0 | −$2.4M | −$2.4M | −$4.0M |
| Share repurchases & issuance (net) | — | — | — | — | — | — | −$187,030 | $187,030 | — | — | — | — |
| Net borrowing (repayment) | −$6.7M | −$12.2M | −$54.8M | −$1.5M | −$9.4M | −$66.8M | −$16.5M | $176,000 | — | — | — | — |
| Shares issued | $3.6M | $17.1M | $0 | $0 | $0 | $5.8M | $18.5M | $5.6M | $0 | $24.2M | $0 | $0 |
| Other financing | −$1.2M | −$2.5M | $12.7M | $8.1M | −$5.7M | −$11.6M | −$2.5M | −$9.1M | −$13.4M | −$7.6M | $16.6M | $17.7M |
| Cash from financing activities | −$4.3M | $2.4M | −$42.7M | $6.6M | −$15.1M | −$72.6M | −$659,000 | −$3.1M | −$13.4M | $14.2M | $14.2M | $13.8M |
| Summary | ||||||||||||
| Net change in cash | −$4.4M | −$10.7M | $10.6M | $2.9M | $1.1M | −$16.9M | $13.0M | $9.3M | $4.0M | $1.4M | $1.4M | −$3.9M |
| Cash at end of period | $14.2M | $18.7M | $29.3M | $18.7M | $15.8M | $14.7M | $31.7M | $18.7M | $9.3M | $11.6M | $11.6M | $10.3M |
| Free cash flow | −$2.7M | −$22.5M | −$7.1M | −$11.0M | $353,000 | −$14.6M | −$4.6M | −$7.4M | −$12.9M | −$11.8M | −$17.9M | −$19.5M |
| Free cash flow margin | −2.4% | −23.3% | −6.8% | −12.0% | 0.4% | −16.6% | −5.1% | −9.6% | −16.3% | −15.6% | −23.5% | −31.4% |
| Capex / revenue | 4.9% | 22.7% | 23.1% | 11.7% | 0.0% | 4.7% | 52.7% | 6.4% | 4.2% | 22.2% | 30.2% | 49.1% |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
FLYX cash generation
In fiscal 2026 (ended March 31, 2026), flyExclusive generated $6.7 million of cash from operations and spent $30.9 million on capital expenditures, leaving free cash flow of -$24.3 million, −6.5% of revenue. It returned $1.0 million to shareholders through dividends ($1.0 million) and net share buybacks ($0). Cash and equivalents fell by $2.4 million over the year.
Related: FLYX income statement, FLYX balance sheet. See the FLYX stock overview for the latest quote and news.
FLYX cash flow FAQ
What is flyExclusive's free cash flow?
flyExclusive's free cash flow was -$24.3 million in fiscal 2026: $6.7 million of operating cash flow minus $30.9 million of capital expenditures It was -$68.1 million a year earlier..
How much cash does flyExclusive generate from operations?
flyExclusive generated $6.7 million of cash from operating activities in fiscal 2026.
How much does flyExclusive spend on capital expenditures?
flyExclusive spent $30.9 million on capital expenditures in fiscal 2026, 8.2% of revenue, compared with $57.2 million the year before.
How much does flyExclusive pay in dividends?
flyExclusive paid $1.0 million in dividends in fiscal 2026.