| Schedule of Certain Financial Data by Reportable Segment |
The following table reflects certain financial data of the Company’s reportable segments:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2023 |
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2022 |
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2023 |
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2022 |
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Segment revenue |
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Passenger |
$ |
37,995 |
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$ |
25,503 |
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$ |
83,089 |
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$ |
57,842 |
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Medical |
33,447 |
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20,219 |
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94,613 |
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50,143 |
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Total revenue |
$ |
71,442 |
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$ |
45,722 |
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$ |
177,702 |
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$ |
107,985 |
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| Segment Flight Profit |
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| Passenger |
$ |
9,410 |
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$ |
6,094 |
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$ |
16,864 |
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$ |
9,261 |
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| Medical |
6,169 |
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3,172 |
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16,248 |
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8,039 |
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| Total Flight Profit |
$ |
15,579 |
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$ |
9,266 |
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$ |
33,112 |
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$ |
17,300 |
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| Reconciling items: |
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| All other operating costs(1) |
(23,027) |
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(19,694) |
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(65,596) |
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(51,151) |
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| Loss from operations |
$ |
(7,448) |
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$ |
(10,428) |
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$ |
(32,484) |
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$ |
(33,851) |
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| Segment net income (loss) |
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| Passenger |
$ |
801 |
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$ |
(416) |
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$ |
(8,154) |
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$ |
(8,258) |
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| Medical |
(85) |
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999 |
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1,055 |
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2,215 |
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Net income (loss) from reportable segments |
716 |
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583 |
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(7,099) |
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(6,043) |
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| Unallocated corporate costs & software development(2) |
(8,164) |
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(11,011) |
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(25,385) |
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(27,808) |
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| Other non-operating income |
7,866 |
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1,239 |
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9,906 |
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22,062 |
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Income (loss) before income taxes |
$ |
418 |
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$ |
(9,189) |
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$ |
(22,578) |
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$ |
(11,789) |
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| Segment Flight Margin |
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| Passenger |
24.8 |
% |
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23.9 |
% |
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20.3 |
% |
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16.0 |
% |
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| Medical |
18.4 |
% |
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15.7 |
% |
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17.2 |
% |
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16.0 |
% |
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| Total Flight Margin |
21.8 |
% |
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20.3 |
% |
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18.6 |
% |
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16.0 |
% |
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September 30,
2023 |
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December 31,
2022 |
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| Goodwill |
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| Passenger |
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$ |
25,901 |
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$ |
26,117 |
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| Medical |
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13,328 |
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13,328 |
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| Total goodwill |
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$ |
39,229 |
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$ |
39,445 |
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________
(1) All other operating costs consists of direct costs of service delivery, staff, selling and marketing as well as allocated staff, general and
administrative expenses.
(2) Unallocated corporate costs & software development includes costs that are not directly attributable to our reportable segments.
Corporate costs also include shared costs such as finance, accounting, tax, human resources, information technology, legal costs and costs of the development of our application.
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| Summary of Financial Data Attributable to Various Geographic Regions |
Summary financial data attributable to various geographic regions for the periods indicated is as follows:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2023 |
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2022 |
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2023 |
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2022 |
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| Revenue |
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United States |
$ |
58,630 |
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$ |
41,923 |
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$ |
148,620 |
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$ |
99,869 |
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Other |
12,812 |
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3,799 |
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29,082 |
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8,116 |
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Total revenue |
$ |
71,442 |
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$ |
45,722 |
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$ |
177,702 |
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$ |
107,985 |
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September 30,
2023 |
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December 31,
2022 |
Long-lived assets |
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United States |
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$ |
14,413 |
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$ |
7,195 |
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Other |
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12,199 |
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12,534 |
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Total long-lived assets |
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$ |
26,612 |
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$ |
19,729 |
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