$FLYX
FLYEXCLUSIVE INC.

2022 Q4 Form 10-K Financial Statement

#000119312523099499 Filed on April 13, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue $255.4M
YoY Change
Gross Profit -$255.4M
YoY Change
Gross Profit Margin
Selling, General & Admin $53.79M
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.11M
YoY Change
% of Gross Profit
Operating Expenses $1.698M $4.078M
YoY Change 220.74% 307.18%
Operating Profit -$4.078M
YoY Change
Interest Expense $8.291M
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.099M $8.345M
YoY Change -1097.67% 165.12%
Pretax Income -$599.7K $4.268M
YoY Change -6.25% 98.84%
Income Tax $389.2K $600.7K
% Of Pretax Income 14.08%
Net Earnings -$988.9K $3.667M
YoY Change 54.6% 70.85%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.04 $0.13
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $87.85K $87.85K
YoY Change -72.48% -72.48%
Cash & Equivalents $87.85K
Short-Term Investments
Other Short-Term Assets $191.7K $191.7K
YoY Change -58.69% -58.69%
Inventory $5.872M
Prepaid Expenses $191.7K
Receivables
Other Receivables $4.925M
Total Short-Term Assets $279.5K $279.5K
YoY Change -64.31% -64.31%
LONG-TERM ASSETS
Property, Plant & Equipment $252.7M
YoY Change
Goodwill
YoY Change
Intangibles $2.432M
YoY Change
Long-Term Investments $228.3M $228.3M
YoY Change 1.44% 1.44%
Other Assets $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Assets $228.3M $228.3M
YoY Change 1.36% 1.36%
TOTAL ASSETS
Total Short-Term Assets $279.5K $279.5K
Total Long-Term Assets $228.3M $228.3M
Total Assets $228.5M $228.5M
YoY Change 1.13% 1.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.409M $2.409M
YoY Change 744.79% 744.79%
Accrued Expenses
YoY Change
Deferred Revenue $58.02M
YoY Change
Short-Term Debt $1.342M $1.342M
YoY Change 1765.36% 1765.36%
Long-Term Debt Due $23.58M
YoY Change
Total Short-Term Liabilities $4.352M $4.352M
YoY Change 1118.6% 1118.58%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $10.16M $10.16M
YoY Change -33.42% -33.42%
Total Long-Term Liabilities $10.16M $10.16M
YoY Change -33.42% -33.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.352M $4.352M
Total Long-Term Liabilities $10.16M $10.16M
Total Liabilities $14.51M $14.51M
YoY Change -7.08% -7.08%
SHAREHOLDERS EQUITY
Retained Earnings -$13.23M
YoY Change -9.69%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$13.23M $214.0M
YoY Change
Total Liabilities & Shareholders Equity $228.5M $228.5M
YoY Change 1.13% 1.13%

Cashflow Statement

Concept 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$988.9K $3.667M
YoY Change 54.6% 70.85%
Depreciation, Depletion And Amortization $23.11M
YoY Change
Cash From Operating Activities -$717.0K -$1.381M
YoY Change 424.8% 39.72%
INVESTING ACTIVITIES
Capital Expenditures $146.0M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 750.0K 1.150M
YoY Change -99.49%
NET CHANGE
Cash From Operating Activities -717.0K -1.381M
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 750.0K 1.150M
Net Change In Cash 32.96K -231.4K
YoY Change -124.12% -172.48%
FREE CASH FLOW
Cash From Operating Activities -$717.0K -$1.381M
Capital Expenditures $146.0M
Free Cash Flow -$147.4M
YoY Change

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<div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Use of Estimates</div></div></div></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The preparation of these financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement. One of the more significant accounting estimates included in these statements are the warrant liabilities and provision for income taxes. Such estimates may be subject to change as more current information becomes available and accordingly the actual results could differ significantly from those estimates.</div></div></div>
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0
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2021Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2022Q4 eggf Working Capital Loan
WorkingCapitalLoan
0
CY2021Q4 eggf Working Capital Loan
WorkingCapitalLoan
0
CY2022Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
191935
CY2021Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
71935
CY2022 eggf Financial Advisory Engagement Fee
FinancialAdvisoryEngagementFee
1500000
CY2022 eggf Percentage Of Private Placement Engagement Fee
PercentageOfPrivatePlacementEngagementFee
0.03
CY2022 eggf Transaction Fee
TransactionFee
1500000
CY2022 eggf Equity Purchase Agreement Fees Payable
equityPurchaseAgreementFeesPayable
7875000
CY2022 eggf Deferred Underwriting Commission
DeferredUnderwritingCommission
7875000
CY2022 eggf Percentage Of The Outstanding Lgm Common Units
PercentageOfTheOutstandingLgmCommonUnits
0.51
CY2022 eggf Percentage Of The Outstanding Lgm Common Units
PercentageOfTheOutstandingLgmCommonUnits
0.51
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
0
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
23280
CY2022Q4 eggf Deferred Tax Asset Startup Costs
DeferredTaxAssetStartupCosts
378248
CY2021Q4 eggf Deferred Tax Asset Startup Costs
DeferredTaxAssetStartupCosts
141484
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
378248
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
164764
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
378248
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
164764
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
600701
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-213484
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-164764
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-213484
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-164764
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
600701
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-213484
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-164764
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022 eggf Effective Tax Rate Reconciliation Change In Fair Value Of Warrants Rate
EffectiveTaxRateReconciliationChangeInFairValueOfWarrantsRate
-0.251
eggf Effective Tax Rate Reconciliation Change In Fair Value Of Warrants Rate
EffectiveTaxRateReconciliationChangeInFairValueOfWarrantsRate
-0.345
CY2022 eggf Effective Income Tax Rate Reconciliation Merger And Aquisition Expenses
EffectiveIncomeTaxRateReconciliationMergerAndAquisitionExpenses
0.142
eggf Effective Income Tax Rate Reconciliation Merger And Aquisition Expenses
EffectiveIncomeTaxRateReconciliationMergerAndAquisitionExpenses
0
CY2022 eggf Effective Tax Rate Reconciliation Transaction Costs Warrants Rate
EffectiveTaxRateReconciliationTransactionCostsWarrantsRate
0
eggf Effective Tax Rate Reconciliation Transaction Costs Warrants Rate
EffectiveTaxRateReconciliationTransactionCostsWarrantsRate
0.038
CY2022 eggf Effective Tax Rate Reconciliation Interest And Penalties Accrued
EffectiveTaxRateReconciliationInterestAndPenaltiesAccrued
0
eggf Effective Tax Rate Reconciliation Interest And Penalties Accrued
EffectiveTaxRateReconciliationInterestAndPenaltiesAccrued
0
CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0
us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.02
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.04
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.077
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.141
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022 eggf Percentage Of Common Stock Shareholding
PercentageOfCommonStockShareholding
0.20
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0105
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.155
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0

Files In Submission

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0001193125-23-099499-index.html Edgar Link pending
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d483704d10k.htm Edgar Link pending
d483704dex311.htm Edgar Link pending
d483704dex312.htm Edgar Link pending
d483704dex321.htm Edgar Link pending
d483704dex322.htm Edgar Link pending
eggf-20221231.xsd Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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R1.htm Edgar Link pending
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eggf-20221231_lab.xml Edgar Link unprocessable
eggf-20221231_pre.xml Edgar Link unprocessable
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d483704d10k_htm.xml Edgar Link completed
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report.css Edgar Link pending
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eggf-20221231_cal.xml Edgar Link unprocessable