Overview

* Jet.AI ( JTAI ) Q3 revenue declines to $1.7 mln from $3.9 mln last year

* Company reports operating loss of $2 mln, an improvement from $2.9 mln last year

* Jet.AI ( JTAI ) progresses on Canadian Hyperscale Data Center Project, completing second milestone

Outlook

* Jet.AI ( JTAI ) prioritizes completing third milestone of Canadian data center project

* Company aims to close flyExclusive merger by year-end

* Discussions with natural gas supplier ongoing for Canadian data center project

Result Drivers

* REVENUE DECLINE - Revenue decreased due to reduction in Cirrus Charter and Jet Card revenue due to planned sale of fractional and jet card business to flyExclusive

* OPERATING LOSS - Narrowed due to general and administrative expenses falling to $1.41 mln from $2.75 mln last year

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $1.71 $2.10

Revenue mln mln (1

Analyst)

Q3 $1.75

Operatin mln

g

Expenses

Q3 -$2.04

Operatin mln

g Income

Analyst Coverage

* The one available analyst rating on the shares is "buy"

* The average consensus recommendation for the software peer group is "buy"

* Wall Street's median 12-month price target for Jet.AI Inc ( JTAI ) is $11.00, about 82% above its November 13 closing price of $1.98

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)