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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash $ 14,486 $ 5,777
Accounts receivable, net 2,990 1,880
Deposits 25,125 833
Prepaid expenses and other current assets 3,897 2,211
Total current assets 46,498 10,701
Property and equipment, net 846 348
Operating lease, right-of-use assets 1,278 1,574
Equity-method investment 154 1,159
Deposits 15,691 12,123
Forward purchase agreement 2,982 0
Restricted cash 2,237 2,102
Intangibles, net 1,391 1,615
Goodwill 635 635
Total assets 71,712 30,257
Current liabilities:    
Accounts payable and accrued liabilities 9,864 3,663
Convertible notes, net 0 18,844
Operating lease liability 326 283
Merger transaction costs payable in shares 4,250 0
Customer deposits and deferred revenue 12,857 2,163
Total current liabilities 47,637 30,160
Deferred income tax liability 305 305
Operating lease liability, non-current 965 1,291
Credit facility, non-current 8,054 4,170
Total liabilities 56,961 35,926
COMMITMENTS AND CONTINGENCIES (Note 18)
Number of shares authorized (in shares) 80,000,000 80,000,000
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Class A Common Stock outstanding (in shares) 28,043,449 11,268,877
Common stock, shares issued (in shares) 28,043,449 11,268,877
Shareholders' equity (deficit):    
Common Stock Class A, $0.0001 par value; 80,000,000 authorized; 28,043,449 and 11,268,877 shares issued and outstanding as of December 31, 2023 and 2022, respectively $ 3 $ 1
Additional paid-in capital 78,410 5,185
Stock subscriptions receivable 0 (15)
Accumulated deficit (63,662) (10,840)
Total shareholders' equity (deficit) attributable to Volato Group, Inc. 14,751 (5,669)
Total shareholders' equity (deficit) 14,751 (5,669)
Total liabilities and shareholders' equity (deficit) 71,712 30,257
Affiliated Entity    
Current liabilities:    
Credit facility and other loans 1,000 5,150
Nonrelated Party    
Current liabilities:    
Credit facility and other loans $ 19,340 $ 57