Volato Group, Inc. (SOAR) Income Statement
SOAR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSOAR revenue and net income
Where SOAR's revenue goes
2025Each bar shows an amount and its share of revenue. SOAR kept 6.6% of revenue as net income.
SOAR profit margins
SOAR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +69.7% | −6.7% | — | — |
| Gross profit | +95.9% | +82.3% | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | +44.2% | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SOAR quarterly EPS vs estimates
Volato beat the analyst EPS estimate in 2 of the last 3 quarters. Next report: November 12, 2026.
SOAR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | $78.6M | $46.3M | $35.6M | $96.7M | $1.1M |
| Cost of revenue | $63.9M | $38.8M | $30.8M | $94.3M | $853,288 |
| Gross profit | $14.7M | $7.5M | $4.8M | $2.4M | $202,561 |
| Research & development | $97,000 | $97,000 | $56,000 | — | — |
| Sales, general & admin | $10.7M | $16.9M | $9.2M | $11.4M | $2.4M |
| Total operating expenses | $10.7M | $16.9M | $9.2M | $11.6M | $2.4M |
| Operating income | $4.0M | −$9.4M | −$4.4M | −$9.2M | −$2.2M |
| Interest income | — | — | — | $2,281 | $0 |
| Interest expense | $4.8M | $7.5M | $3.4M | $866,000 | $57,911 |
| Income before taxes | $1.1M | −$22.4M | −$20.6M | −$9.5M | −$1.5M |
| Income taxes | $207,000 | −$507,000 | $2,000 | −$55,000 | $12,054 |
| Net income | $5.2M | −$40.6M | −$52.8M | −$9.4M | −$1.5M |
| EBITDA | $6.2M | −$14.6M | −$4.2M | −$8.4M | −$1.4M |
| EPS (diluted) | $0.12 | −$1.12 | −$47.09 | $0.04 | −$0.01 |
| Gross margin | 18.7% | 16.2% | 13.5% | 2.5% | 19.2% |
| Operating margin | 5.0% | −20.2% | −12.5% | −9.5% | −207.9% |
| Net margin | 6.6% | −87.8% | −148.5% | −9.7% | −139.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $965,000 | $997,000 | $27.8M | $381,000 | $24.9M | $25.5M | $1.4M | $40.3M | $15.1M | $48,000 | $19.6M | $3.7M |
| Cost of revenue | $292,000 | $294,000 | $21.7M | $123,000 | $21.1M | $21.0M | $980,000 | $33.8M | $18.5M | $52,000 | $16.1M | $3.3M |
| Gross profit | $673,000 | $703,000 | $6.2M | $258,000 | $3.8M | $4.5M | $442,000 | $6.5M | −$3.3M | −$4,000 | $3.5M | $319,000 |
| Research & development | $24,000 | — | — | $37,000 | $24,000 | — | $20,000 | $26,000 | $26,000 | — | $30,000 | $44,000 |
| Sales, general & admin | $3.2M | $3.0M | $3.0M | $2.8M | $2.9M | $2.0M | $3.4M | $4.6M | $9.7M | $4.3M | $3.5M | $1.3M |
| Total operating expenses | $3.2M | $3.0M | $3.0M | $2.8M | $2.9M | $2.0M | $3.4M | $4.6M | $9.7M | $4.3M | $3.5M | $2.2M |
| Operating income | −$2.5M | −$2.3M | $3.1M | −$2.6M | $872,000 | $2.5M | −$2.9M | $1.9M | −$13.1M | −$4.3M | $42,000 | −$1.8M |
| Interest income | — | $27,000 | — | — | — | — | — | — | — | — | — | — |
| Interest expense | $26,000 | $27,000 | $1.2M | $27,000 | $1.2M | $2.4M | $1.9M | $3.2M | $1.2M | $1.1M | $931,000 | $805,000 |
| Income before taxes | −$2.2M | −$2.6M | −$4.9M | $2.6M | $2.9M | $458,000 | −$7.6M | −$1.3M | −$16.9M | −$5.7M | −$14.4M | −$2.6M |
| Income taxes | −$1,000 | $5,000 | −$352,000 | $272,000 | $189,000 | $98,000 | −$533,000 | $11,000 | $9,000 | $6,000 | $2,000 | $178,920 |
| Net income | −$2.1M | −$2.6M | −$6.0M | $7.1M | $3.6M | $455,000 | −$1.9M | −$4.4M | −$16.9M | −$17.4M | −$23.6M | −$11.8M |
| EBITDA | −$2.1M | −$2.5M | $5.1M | $2.7M | $4.2M | $2.9M | −$5.6M | $2.0M | −$15.5M | −$4.5M | $64,000 | −$1.7M |
| EPS (diluted) | −$0.06 | — | — | $0.45 | $0.55 | $0.03 | −$1.10 | — | — | — | — | −$0.12 |
| Gross margin | 69.7% | 70.5% | 22.2% | 67.7% | 15.2% | 17.6% | 31.1% | 16.1% | −22.0% | −8.3% | 17.8% | 8.7% |
| Operating margin | −261.1% | −235.4% | 11.2% | −673.0% | 3.5% | 9.9% | −206.4% | 4.6% | −86.4% | −9,029.2% | 0.2% | −50.2% |
| Net margin | −212.5% | −264.2% | −21.7% | 1,875.3% | 14.5% | 1.8% | −133.7% | −11.0% | −111.8% | −36,229.2% | −120.3% | −323.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SOAR's financial statements (latest annual report filed March 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SOAR financial results
In fiscal year 2025 (ended December 31, 2025), Volato reported revenue of $78.6 million, up 69.7% from the year before. It had net income of $5.2 million, a net profit margin of 6.6%. Diluted earnings per share came to $0.12.
See the SOAR stock overview for the latest quote and news, or the SOAR chart for price history and technical indicators.
SOAR income statement FAQ
What is Volato's annual revenue?
Volato reported total revenue of $78.6 million for fiscal year 2025, which ended on December 31, 2025. That was up 69.7% from $46.3 million the previous year.
Is Volato profitable?
Yes. Volato reported net income of $5.2 million in fiscal 2025, a net profit margin of 6.6%; its operating margin was 5.0%.
What is Volato's gross margin?
Volato's gross margin was 18.7% in fiscal 2025: for every $100 of revenue, Volato kept $19 after the direct cost of its products and services.
How much does Volato spend on research and development?
Volato spent $0.1 million on research and development in fiscal 2025, 0.1% of revenue.
What are Volato's earnings per share?
Volato earned $0.12 per diluted share in fiscal 2025, compared with $-1.12 a year earlier.
When will Volato report its next earnings?
Volato is expected to report results for the quarter ending September 30, 2026 on November 12, 2026.
When does Volato's fiscal year end?
Volato's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 12, 2026.