Annual report [Section 13 and 15(d), not S-K Item 405]

Revenue

v3.25.0.1
Revenue
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue
Note 3 – Revenue
Disaggregated Revenue
Disaggregated revenue by product line and segment was as follows:
For the Years Ended
December 31,
2024		 December 31,
2023
Passenger Segment
Short Distance $ 72,203  $ 70,700 
Jet and Other 29,673  27,876 
Total $ 101,876  $ 98,576 
Medical Segment
MediMobility Organ Transport $ 146,817  $ 126,604 
Total $ 146,817  $ 126,604 
Total Revenue $ 248,693  $ 225,180 

Contract Liabilities
Contract liabilities are defined as entity’s obligation to transfer goods or services to a customer for which the entity has received consideration (or the amount is due) from the customer. As of December 31, 2024 and 2023, the Company’s contract liability balance is $6,656 and $6,845 respectively, and is recorded as deferred revenue on the consolidated balance sheets. This balance consists of payments from customers received in advance of the actual flight, prepaid monthly and annual flight passes, customer credits for flight reservations that were cancelled for good reason by the customer, and prepaid gift card obligations. Customers have one year to use the credit as payment for a future flight with the Company.
The table below presents a roll forward of the contract liability balance:
For the Years Ended
December 31,
2024		 December 31,
2023
Balance, beginning of period $ 6,845  $ 6,709 
Additions 78,201  69,792 
Revenue recognized (78,390) (69,656)
Balance, end of period $ 6,656  $ 6,845 

For the year ended December 31, 2024, the Company recognized $4,871 of revenue that was included in the contract liability balance as of January 1, 2024. For the year ended December 31, 2023, the Company recognized $5,836 of revenue that was included in the contract liability balance as of January 1, 2023.