$SOAR Cashflow Statement | Understand Stock

$SOAR

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated statements of cash flows

In millions of USD, except per-share amounts

	FY2025 12 months to Dec 31, 2025	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022
Operating activities:
Net income (loss)
Net income (loss) from continuing operations
Net income (loss) from discontinued operations, net of taxes
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:
Income earned on Trust assets
Loss on amendment to agreement
Depreciation and amortization expense
Non-monetary exchange
Stock compensation expense
Fair value of common stock issued to employees
Gain from sale of equity-method investment
Loss (gain) from sale of property and equipment
Loss on extinguishment of debt
Loss on impairment of intangible assets
Loss from sale of consolidated entity
Gain (loss) from equity-method investments
Deferred income tax benefit
Gain on settlement of liabilities
Amortization right-of-use asset
Amortization of debt discount
Change in fair value forward purchase agreement
Change in fair value of convertible notes
Loss on investments
M2I
flyExclusive
Gain on aviation asset option
Changes in assets and liabilities:
Prepaid expenses
Accrued expenses
Accounts receivable
Contract assets, net
Prepaid and other current assets
Deposits
Account payable and accrued liabilities
Operating lease liability
Customers’ deposits and deferred revenue
Net cash provided by operating activities from continuing operations
Net cash used in operating activities from discontinued operations

Net cash provided by (used in) operating activities
Investing activities:
Funds deposited into Trust Account
Payoff of liability issued for flyExclusive investment
Cash payment for property and equipment
Proceeds from sale of interest in equity-method investment
Payment for acquisition of GCA
Payment for the purchase of equity-method investments
Proceeds from the sale of consolidated entity
Cash obtained from acquisition of GCA
Proceeds from the sale of property and equipment
Interests on Note receivable
Cash used in investing activities - discontinued operations
Net cash used in investing activities

Financing activities:
Proceeds from lines of credit
Principal payment on lease obligations
Repayments of lines of credit
Collection on subscription receivable
Proceeds from issuance of term loan
Proceeds from issuance of convertible notes, net
Purchase of forward purchase agreement
Proceeds from forward purchase agreement
Proceeds from other loans
Proceeds from issuance of shares under at-the-market sales plan
Proceeds from sale of units
Proceeds from sale of warrants
Offering costs
Proceeds from sponsor note
Repayment of sponsor note
Costs of share issuance
Repayment on loans
Proceeds from business combination
Business combination closing costs
Proceeds from the sale of preferred stock
Proceeds from exercise of stock options
Cash provided by financing activities - discontinued operations
Net cash provided by financing activities

Net change in cash
Net increase (decrease) in cash
Cash and restricted cash, beginning of period
Cash and restricted cash, end of period
Supplemental disclosure of cash flow information:
Cash paid for interest
Cash paid for income taxes
Non-Cash Investing and Financing Activities:
Deferred underwriting fee incurred (written off)
Re-measurement of Class A ordinary shares subject to possible redemption
Initial value of Class A common stock subject to possible redemption
Conversion of line of credit to convertible note with related party
Original debt discount
Conversion of preferred stock to common stock class A
Merger transaction cost payable in stock
Liabilities assumed in merger transaction unpaid at 12/31/2023
Note receivable from sale of GC Aviation, Inc.
Non-cash interest
Credit facility for the aircraft deposits
In-kind dividend payable
Issuance of shares for convertible notes
Investment in M2i - share exchange
Investment in flyExclusive
Liability issued for flyExclusive investment
Financing for aircraft purchase
Settlement on liability for aircraft purchase
Financed deposits on aircraft
Issuance of shares in exchange for debt reduction
Proceeds from settlement of net payable
Initial recognition of right-of-use asset
Fair value adjustment to equity-method investment upon deconsolidation
Acquisition of vehicle – direct finance

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