Starfighters Space Inc (OTC: FJET) is an aerospace company that operates a fleet of Lockheed F-104 supersonic jet aircraft to provide pilot training, in-flight testing, small satellite launch services, and hypersonic research and test evaluation. Revenue has historically come from pilot training and in-flight testing services, with the company developing two new lines of business, Launch Services and Hypersonic R&D and T&E, as of the 10-K filed April 15, 2026. The company operates from Kennedy Space Center in Florida, invited by Space Florida, the public-private partnership managing KSC commercialization. As of fiscal year ended December 31, 2025, the company had no employees, relying entirely on independent contractors and third-party providers. Total operating expenses were $15.3M in FY2025, up from $4.3M in FY2024, with research and development spending of $1.0M appearing for the first time in FY2025. The company has never paid a cash dividend and does not anticipate doing so. A Regulation A offering raised gross proceeds of $17.9M as of December 10, 2025, against a $40M maximum offering.

Revenue model

Transactional service contracts for pilot training and in-flight testing constitute the historical revenue base. The company is developing Launch Services revenue from air-launched small and micro satellite missions using its F-104 fleet, and Hypersonic R&D and T&E contracts, including participation in the HyCAT program. Government contracts are subject to Federal Acquisition Regulation (FAR) and can be terminated at any time. Grant income of $163,723 was recorded in FY2025.

Products and services

Historical Services: supersonic pilot training and in-flight testing using Lockheed F-104 aircraft, including missions flown for Boom Supersonic in FY2025. Launch Services: air-launched small and micro satellite delivery via the StarLaunch I dedicated launch platform, co-developed with Innoveering LLC (acquired by GE Aeronautics). A captive carry test was completed with the FAA using the National Research Council of Italy's Aviolancio rocket platform. StarLaunch I External Surface Engineering was complete as of the filing date, with flight testing targeted for Q4 2025/Q1 2026. First commercial launch targeted by year-end 2026. Hypersonic R&D and T&E: airborne testbed services for hypersonic technology development in defense and commercial sectors, including the HyCAT program.

Customers and end markets

End markets include U.S. government defense agencies, commercial supersonic aircraft developers (Boom Supersonic named as a pilot training customer in FY2025), and commercial and government customers seeking small satellite launch and hypersonic testing services. The company notes government agencies as a primary customer class and is subject to government budget and procurement risk.

Value-chain role

Operator of supersonic jet aircraft providing contract services as a specialized test, training, and launch platform operator. The company sits between raw material suppliers (composite materials, electronic and electro-mechanical components, fuel systems) and end customers requiring airborne test and launch capabilities. Launch vehicle co-development is handled with third-party partners.

Geographic exposure

Operations based at Kennedy Space Center, Florida. No international revenue geography disclosed in the filing excerpts.

Source: SEC 10-K, filed 2026-04-15

Industry: Air Transportation, Scheduled