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SOAR on NYSE

Volato Group, Inc.

In its 2026 annual report the company says: “Volato is an aviation technology company that connects travelers to private, on-demand flight access and develops proprietary software platforms for enterprise and operational applications.”3 It is headquartered in North Canton, Ohio.1 Its shares trade on NYSE under the symbol SOAR.1

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Last updated Oct 21, 2026.

Overview

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  • TickerSOAR on NYSE1
  • IndustryAir Transportation, Nonscheduled1
  • HeadquartersNorth Canton, Ohio1
  • Incorporated inDE2
  • Business address8050 Freedom Ave. Nw,, North Canton, Oh 447202
  • Filer category, Emerging growth company2
  • Legal formCorporation

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Volato is an aviation technology company that connects travelers to private, on-demand flight access and develops proprietary software platforms for enterprise and operational applications. Historically, we generated revenue through our aircraft ownership program, a focused commercial strategy that included deposit products, charter flights, and aircraft management services. Our aviation experience led to the development of proprietary software products and applications, including “Mission Control,” “Vaunt,” and “Parslee.” Mission Control is an internal operations platform that supports the management of fractional ownership, charter, and related aviation services. Vaunt is an experiential private aviation platform that connects travelers to private, empty leg flights and is our primary revenue-generating business. During the fiscal year ended December 31, 2024, we began to generate reve…3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

5.0%Operating margin4
6.6%Net margin4
101.1%Revenue growth, 20254
$3.3MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Aircraft Sales brought in 98% of the revenue Volato Group, Inc. broke down this way in fiscal 2025.

  1. Aircraft Sales$77.1M498%up 102% from 2024
  2. Aircraft Management Revenue$1.5M42%up 60% from 2024
Products and services by year
Products and services20242025
Aircraft Sales$38.1M$77.1M
Aircraft Management Revenue$914.0K$1.5M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue80¢$63.9M
  • Selling, general and admin13¢$10.7M
  • Income tax0¢$207.0K
  • Profit6¢$5.2M

Out of $78.6M in revenue.4

Where each dollar of operating cash went, fiscal 2025

  • Capital spending6¢$211.0K
  • Kept or used elsewhere94¢$3.3M

Out of $3.5M of cash from operations.4

Financial statements

Revenue564$78.6M in 2025−19% since 2022
0$25.0M$50.0M$75.0M$100.0M2022: $96.7M$96.7M20222023: $35.6M$35.6M2023−63%2024: $39.1M$39.1M2024+10%2025: $78.6M$78.6M2025+101%
Operating income564$4.0M in 2025
-$10.0M-$5.0M0$5.0M2022: -$9.2M-$9.2M20222023: -$4.4M-$4.4M2023−52%2024: -$8.6M-$8.6M2024+94%2025: $4.0M$4.0M2025
Net income564$5.2M in 2025
-$60.0M-$40.0M-$20.0M0$20.0M2022: -$9.4M-$9.4M20222023: -$52.8M-$52.8M2023+464%2024: -$40.6M-$40.6M2024−23%2025: $5.2M$5.2M2025

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Revenue$78.6M$39.1M
Cost of revenue$63.9M$32.2M
Selling, general and administrative$10.7M$15.5M
Total costs and expenses$74.6M$47.7M
Operating income (loss)$4.0M-$8.6M
Other income, net$10.1M$212.0K
Other expense-$6.1M$0
Loss from change in fair value of financial instruments-$2.1M-$3.0M
Loss on extinguishment of debt$0-$2.8M
Interest expense, net-$4.8M-$7.5M
Other income (expenses), net-$2.9M-$13.1M
Income (loss) before provision for income taxes and discontinued operations$1.1M-$21.7M
Provision for (benefit from) incomes taxes$207.0K-$507.0K
Net income (loss) from continuing operations$854.0K-$21.2M
Net income (loss) from discontinued operations, net of taxes$4.3M-$19.5M
Net income (loss)$5.2M-$40.6M
Net income (loss) per share from continuing operations, basic (in dollars per share)$0-$13
Net income (loss) per share from continuing operations, diluted (in dollars per share)$0-$13
Net income (loss) per share from discontinued operations, basic (in dollars per share)$1-$12
Net income (loss) per share from discontinued operations, diluted (in dollars per share)$1-$12
Net income (loss) per share, basic (in dollars per share)$1.18-$24.42
Net income (loss) per share, diluted (in dollars per share)$1.18-$24.42
Weighted average common share outstanding, basic (in shares)4.4M shares1.7M shares
Weighted average common share outstanding, diluted (in shares)4.4M shares1.7M shares

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Corporate structure

Volato Group, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Volato Group, Inc.

  • Volato Group, Inc. North Canton, Ohio

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Volato Group, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Operating-lease assets (leased space)$128.0K4 Dec 31, 2025$167.0K4 Dec 31, 2024−23.4%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$635.0K6 Dec 31, 2024$635.0K6 Dec 31, 20230%
Intangible assets, net (excluding goodwill)$1.2M6 Dec 31, 2024$1.4M6 Dec 31, 2023−13.7%
Indefinite-lived intangibles (excluding goodwill)$04 Dec 31, 2025$1.2M4 Dec 31, 2024−100.0%
Finite-lived intangibles, gross$06 Dec 31, 2024$301.0K6 Dec 31, 2023−100.0%
Accumulated amortization$06 Dec 31, 2024$110.0K6 Dec 31, 2023−100.0%
Finite-lived intangibles, net$06 Dec 31, 2024$191.0K6 Dec 31, 2023−100.0%

Properties, in its own words

We are a remote-first company, founded during the COVID-19 crisis. All of our facilities are located on land that is leased from third parties. We believe that these facilities meet our current and future anticipated needs.

Item 2 of the 10-K filed Mar 12, 2026.3

Leadership

Who has led Volato Group, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. John G. Backus2021

President

  1. Keith Rabin2023–2024

Chief financial officer

  1. Steven P. Mullins2021
  2. Mark Heinen2023–now

Chief operating officer

  1. Michael Patrick Prachar2023–now
2025
Board members and other officers (13)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, DirectorMatthew Liotta named Dec 26, 2024 to Jun 22, 202626
  • DirectorAlan Gaines named Jun 22, 202626
  • DirectorMichael Nichols named Dec 26, 2024 to Jun 22, 202626

Former names

  • PROOF Acquisition Corp IMay 28, 2021 to Dec 4, 20232

Timeline

  1. Oct 9, 20268-K Entered a material agreement; Unregistered sale of shares; Change to shareholders' rights27
  2. Sep 28, 20268-K Entered a material agreement; Regulation FD disclosure28
  3. Sep 21, 20268-K Executive or director change29
  4. Sep 11, 20268-K Entered a material agreement; Completed an acquisition or sale; New debt or obligation30
  5. Sep 4, 20268-K Entered a material agreement31
  6. Aug 28, 20268-K Entered a material agreement; Regulation FD disclosure32
  7. Jul 23, 20268-K Executive or director change33
  8. Jul 6, 20268-K Results of operations; Regulation FD disclosure34
  9. Jul 2, 20268-K Other events35
  10. Jun 29, 20268-K Entered a material agreement; Executive or director change36
  11. Jun 18, 20268-K Entered a material agreement; Unregistered sale of shares37
  12. Jun 8, 20268-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure38
  13. Nov 30, 2021New chief executive John G. Backus becomes CEO10

Calendar

Coming up

  1. Nov 12, 2026Reports results for the quarter ending Sep/202639

When it reported results

  1. Jul 6, 2026Reported quarterly or annual results34
  2. Nov 13, 2025Reported quarterly or annual results40
  3. May 15, 2025Reported quarterly or annual results41
  4. Aug 14, 2024Reported quarterly or annual results42
  5. Jul 19, 2024Reported quarterly or annual results43
  6. Mar 26, 2024Reported quarterly or annual results44
  7. Jan 22, 2024Reported quarterly or annual results45

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

328 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 89 major events, 55 insider forms, 19 large holders, 2 private raises, 141 other. The latest 20:

  1. Oct 13, 20264 EDGAR
  2. Oct 13, 20263 EDGAR
  3. Oct 9, 20268-K EDGAR
  4. Sep 28, 20268-K EDGAR
  5. Sep 21, 20268-K EDGAR
  6. Sep 11, 20268-K EDGAR
  7. Sep 4, 20268-K EDGAR
  8. Aug 28, 20268-K EDGAR
  9. Aug 14, 202610-Q EDGAR
  10. Jul 23, 20268-K EDGAR
  11. Jul 6, 20268-K EDGAR
  12. Jul 6, 2026SCHEDULE 13G EDGAR
  13. Jul 6, 2026SCHEDULE 13G EDGAR
  14. Jul 2, 2026EFFECT EDGAR
  15. Jul 2, 2026424B3 EDGAR
  16. Jul 2, 20268-K EDGAR
  17. Jul 1, 20264 EDGAR
  18. Jul 1, 2026424B5 EDGAR
  19. Jun 30, 2026CORRESP EDGAR
  20. Jun 29, 20268-K EDGAR

The 328 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

8 open-market trades by officers, directors and large owners since October 2021: 4 buys and 4 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 30, 2025Cooper Nicholas JamesDirectorSale21,258$1.27$27.0KForm 4
Jun 27, 2025Cooper Nicholas JamesDirectorSale1,800$1.29$2.3KForm 4
Jun 26, 2025Cooper Nicholas JamesDirectorSale3,128$1.38$4.3KForm 4
Dec 30, 2024Cooper Nicholas JamesDirectorSale459,005$0.26$119.3KForm 4
Jun 7, 2024Prachar Michael PatrickChief Operating OfficerBuy1,235$0.80$988Form 4
Jun 6, 2024Liotta MatthewChief Executive OfficerBuy6,000$0.81$4.9KForm 4
Jun 6, 2024Heinen MarkChief Financial OfficerBuy8,500$0.80$6.8KForm 4
Mar 28, 2024Liotta MatthewChief Executive OfficerBuy3,000$3.53$10.6KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024Matthew Liotta47$117.8K$540.8K58
2024Mark Heinen55$266.7K$388.6K58
2024Keith Rabin$218.9K$295.0K58
2024Michael Prachar56$227.9K$285.6K58
2023Former President$252.6K$370.8K58
2023Chair and Chief Executive Officer$215.2K$220.2K58
2023Chief Operating Officer$193.9K$204.7K58
2023Chief Financial Officer$25.9K$52.3K58

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Jun 18, 2026Raised $2.2 million in a private offering of equity Form D: 3 investors so far Form D
  2. Dec 4, 2024Raised $4.5 million in a private offering of debt Form D: $36 million offered in all Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Vanguard Capital Management LLC427,843$69.3K0.0%+418,061
Geode Capital Management, LLC190,927$31.0K0.0%+50,491
UBS Group AG80,458$13.0K0.0%−722
StoneX Group Inc.80,000$13.0K0.0%New
Vanguard Fiduciary Trust Co52,075$8.4K0.0%No change
Northern Trust Corp48,125$7.8K0.0%+32,034
XTX Topco Ltd28,625$4.6K0.0%+2,508
Citigroup Inc28,319$4.6K0.0%+26,166
IFP Advisors, Inc5,000$8110.0%New
PNC Financial Services Group, Inc.200$320.0%No change
SBI Securities Co., Ltd.125$200.0%+124
National Bank Of Canada /fi/3$00.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Volato Group, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARVolato Group, Inc.1
  • CIK0001853070
  • Employer ID (EIN)86-27070403
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)4522 Air Transportation, Nonscheduled1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address8050 Freedom Ave. Nw,, North Canton, OH 447201
  • Phone844-399-89981
  • Shares outstanding53,633,248 as of Aug 3, 20268
  • Public float$4.6M as of Jun 30, 20253
  • AuditorElliott Davis, Charlotte, North Carolina PCAOB ID 149; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceMay 28, 20211
  • Filings330 in all: 8-K (85), 4 (31), 424B3 (24), CORRESP (23), 3 (21), UPLOAD (15), 10-Q (14), S-4/A (9)1
    All 44 form types

    S-1/A (8), EFFECT (7), SC 13G (6), SC 13G/A (6), 10-K (5), 425 (5), DEF 14A (5), 8-K/A (4), DRS (4), PRE 14A (4), S-1 (4), S-3 (4), SCHEDULE 13G (4), 3/A (3), 424B5 (3), PRER14A (3), RW (3), SC 13D (3), 10-K/A (2), 144 (2), 25-NSE (2), 8-A12B (2), CERT (2), D (2), DEFA14A (2), S-4 (2), S-8 (2), 10-Q/A (1), 25 (1), 424B4 (1), DRS/A (1), DRSLTR (1), NT 10-Q (1), S-1MEF (1), S-3/A (1), S-4MEF (1)

  • Latest filingsAnnual report (10-K) Mar 12, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Jun 6, 2025
    Latest 8-K (8-K) Oct 9, 2026

Securities registered for trading

ClassSymbolExchange
Class A Common stock, $0.0001 par value per shareSOARNYSE American LLC
Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $287.50SOARW

From the cover page of the 10-K filed Mar 12, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks Volato Group, Inc. names in Item 1A of its 10-K filed Mar 12, 2026: 39 risks under these headings, as written.3

  • Unless the context otherwise requires, all references in this subsection to “we” and “our” refers to the business of Volato Group and our consolidated subsidiaries. The occurrence of one or more of the events or circumstances described in these risk factors, alone or in combination with other events or circumstances, may have a material adverse effect on the business, financial condition, results of operations, cash flows and future prospects of Volato, in which event the market price of the Common Stock of Volato Group could decline, and you could lose part or all of your investment.
  • Risks Related to Our Limited Operating History, Business and Industry
  • We have a limited operating history and history of net losses, and may continue to experience net losses in the future.
  • The Company may not be able to continue to operate its business if it is not successful in securing additional sources of capital and, as a result, may not be able to continue as a going concern.
  • We may not be able to successfully implement our growth strategies.
  • We are exposed to the risk of a decrease in demand for private aviation services.
  • We may require substantial additional funding to finance our operations, but adequate additional financing may not be available when we need it, on commercially acceptable terms, or at all.
  • The loss of key personnel upon whom we depend on to operate our business or the inability to attract additional qualified personnel could adversely affect our business.
  • Federal, state, and local tax rules can adversely impact our results of operations and financial position.
  • The Company may seek to expand its business operations, including to jurisdictions in which tax laws may not be favorable, its obligations may change or fluctuate, become significantly more complex or become subject to greater risk of examination by taxing authorities, any of which could adversely affect the Company’s after-tax profitability and financial results.
  • The Company’s ability to utilize its net operating loss and tax credit carryforwards to offset future taxable income may be subject to certain limitations.
  • Our aviation business is dependent on third-party operators to provide flights for our customers. If third-party operators’ flights, which are required to serve a substantial portion of our business, are not available or do not perform adequately, our costs may increase and our business, financial condition, and results of operations could be adversely affected.
The other 28 risks
  • If our efforts to continue to build our strong brand identity and achieve high customer satisfaction and loyalty are not successful, we may not be able to attract or retain customers, and our operating results may be adversely affected.
  • A delay or failure to identify and devise, invest in, and implement certain important technology, business, and other initiatives could have a material impact on our business, financial condition and results of operations.
  • Our Parslee platform depends on third-party artificial intelligence services, and our business could be adversely affected by changes in the availability, pricing, or performance of those services.
  • We rely on our information technology systems to manage numerous aspects of our business. A cyber-based attack of these systems could disrupt our ability to deliver services to our customers and could lead to increased overhead costs, decreased revenues, and harm to our reputation.
  • System failures, defects, errors, or vulnerabilities in our website, applications, backend systems, or other technology systems or those of third-party technology providers could harm our reputation and brand and adversely impact our business, financial condition, and results of operations.
  • We rely on third parties maintaining open marketplaces to distribute our mobile and web applications and we rely on third parties to provide the software we use in certain of our products and services, including the provision of our flight management system. If these third parties interfere with the distribution of our products or services, with our use of the software, or with the interoperability of our platform with the software, our business would be adversely affected.
  • If we are unable to adequately protect our intellectual property interests or are found to be infringing on the intellectual property interests of others, we may incur significant expense, and our business may be adversely affected.
  • As part of our growth strategy, we may engage in future acquisitions that could disrupt our business and have an adverse impact on our financial condition.
  • We may never realize the full value of our intangible assets or our long-lived assets, causing us to record impairments that may materially adversely affect our financial conditions and results of operations.
  • Risks Related to Legal and Regulatory Matters
  • Because our software could be used to collect and store personal information, privacy concerns in the territories in which we operate could result in additional costs and liabilities to us or inhibit sales of our software.
  • We are subject to the Telephone Consumer Protection Act and similar state laws in connection with our marketing activities, and noncompliance could result in significant financial exposure.
  • Risks Related to Our Contractual Obligations
  • Our obligations in connection with our contractual obligations, including debt financing obligations, could impair our liquidity and thereby harm our business, results of operations, and financial condition.
  • Agreements governing our debt obligations include financial and other covenants that provide limitations on our business and operations under certain circumstances, and failure to comply with any of the covenants in such agreements could adversely impact us.
  • Stockholders may experience dilution of their ownership interest due to the issuance of additional shares of Common Stock upon the conversion of certain convertible notes, especially since the notes have fluctuating conversion rates that are set at a discount to market prices of our shares of Common Stock during the period immediately following conversion.
  • Risks Related to Ownership of Our Securities and Being a Public Company
  • If we are unable to comply with the continued listing requirements of the NYSE American, then our Common Stock will be delisted from the NYSE American.
  • If our Common Stock is delisted from the NYSE American, then we could face significant and material adverse consequences as a result and our investors will experience limitations upon their ability to effect transactions in our Common Stock.
  • The Company has identified material weaknesses in its internal control over financial reporting, which could, if not remediated, adversely affect its ability to report its financial condition and results of operations in a timely and accurate manner. If the Company fails to comply with requirements relating to internal control over financial reporting under Section 404 of the Sarbanes-Oxley Act, the business could be harmed and its stock price could decline.
  • Issuances of our Common Stock in the future could dilute existing stockholders and adversely affect the market price of our Common Stock.
  • Sales of Common Stock, or the perception of such sales, by us in the public market or otherwise, could cause the market price for our Common Stock to decline.
  • Anti-takeover provisions contained in the Company’s Certificate of Incorporation and applicable laws could impair a takeover attempt.
  • Claims for indemnification by our directors and officers may reduce our available funds to satisfy successful third-party claims against us and may reduce the amount of money available to us.
  • Our Certificate of Incorporation designates specific courts as the exclusive forum for substantially all stockholder litigation matters, which could limit the ability of our stockholders to obtain a favorable forum for disputes with us or our directors, officers or employees.
  • Our management team has limited experience managing a public company.
  • The requirements of being a public company may strain our resources, divert our management’s attention, and affect our ability to attract and retain qualified board members.
  • We may be subject to securities litigation, which is expensive and could divert our management’s attention.
  • Because we became a publicly traded company by means other than a traditional underwritten initial public offering, our stockholders may face additional risks and uncertainties.
  • If securities or industry analysts do not publish research or reports about our business, if they change their recommendations regarding our Common Stock, or if our operating results do not meet their expectations, our Common Stock price and trading volume could decline.
  • The JOBS Act permits “emerging growth companies” like us to take advantage of certain exemptions from various reporting requirements applicable to other public companies that are not emerging growth companies.

Legal proceedings

From time to time, we are a defendant or plaintiff in various legal proceedings which arise in the normal course of business. As such, we are required to assess the likelihood of any adverse outcomes to these proceedings as well as potential ranges of probable losses. If one or more legal matters were resolved against us in a reporting period for amounts above management’s expectations, our financial condition and operating results for that reporting period could be materially adversely affected.

The opening of Item 3, Legal Proceedings.3

Sources

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