FLY on Nasdaq
FLY Leasing
Logo: http://www.flyleasing.com/img/logo_210px.png, Non-free logo, via Wikipedia4
Aircraft leasing company
FLY Leasing (FLY) is an aircraft leasing investment company. Its fleet comprises 110 aircraft, mostly Airbus A320 and Boeing 737 aircraft.3 From Wikipedia, CC BY-SA 4.0
Price unavailable
Last updated Oct 18, 2026.
Overview
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- TickerFLY on Nasdaq1
- Industryfinancial services1
- HeadquartersDublin1
- Websitewww.flyleasing.com
- Incorporated inDE5
- Business address2203 Scottsdale Drive, Leander, Tx 7864163325
- Filer category, Emerging growth company5
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FLY Leasing (FLY) is an aircraft leasing investment company.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
19.2%Gross margin6
-163.1%Operating margin6
-186.6%Net margin6
163.0%Revenue growth, 20256
-25.1%Return on equity6
-$237.8MFree cash flow6
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Spacecraft Solutions Revenue brought in 82% of the revenue FLY Leasing broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Spacecraft Solutions Revenue | $20.9M | $38.2M | $131.2M |
| Launch Revenue | $33.0M | $22.6M | $28.6M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue28¢$129.2M
- Research and development44¢$200.1M
- Selling, general and admin20¢$91.2M
- Income tax8¢$37.1M
Out of $159.9M in revenue.6 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | $159.9M | $60.8M | $55.2M |
| Cost of sales | $129.2M | $72.2M | $28.6M |
| Gross profit | $30.7M | -$11.4M | $26.6M |
| Research and development | $200.1M | $149.5M | $117.9M |
| Selling, general and administrative | $91.2M | $46.8M | $40.6M |
| (Gain) loss on disposal of fixed assets | -$9.0K | $1.7M | -$1.0K |
| Total operating expenses | $291.4M | $198.1M | $158.5M |
| Loss from operations | -$260.7M | -$209.5M | -$131.9M |
| Change in fair value of warrant liability | -$50.3M | -$1.6M | -$147.0K |
| Loss on extinguishment of debt | -$30.4M | $0 | $0 |
| Interest income | $18.2M | $2.6M | $2.9M |
| Interest expense, net | -$21.6M | -$23.0M | -$6.9M |
| Gain from settlement of contingent liabilities | $8.4M | $0 | $0 |
| Other income (expense), net | $894.0K | $342.0K | $528.0K |
| Total other expense, net | -$74.8M | -$21.7M | -$3.6M |
| Loss before income tax benefit | -$335.5M | -$231.1M | -$135.5M |
| Income tax benefit | $37.1M | $0 | -$4.0K |
| Net loss and comprehensive loss | -$298.3M | -$231.1M | -$135.5M |
| Net loss attributable to common shareholders, basic | -$334.0M | -$265.8M | -$156.3M |
| Net loss available to common stockholders, diluted | -$334.0M | -$265.8M | -$156.3M |
| Basic | -$4.83 | -$20.74 | -$13.05 |
| Diluted | -$4.83 | -$20.74 | -$13.05 |
| Basic | 69.2M shares | 12.8M shares | 12.0M shares |
| Diluted | 69.2M shares | 12.8M shares | 12.0M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $793.0M | $123.4M | $81.9M | |
| Short-term investments | $100.0M | $0 | ||
| Restricted cash, current | $0 | $424.0K | $2.4M | |
| Accounts receivable, net | $46.1M | $1.0M | ||
| Advanced payments, current | $12.3M | $52.4M | ||
| Other current assets | $11.7M | $3.5M | ||
| Total current assets | $963.2M | $180.7M | ||
| Advanced payments, less current portion | $60.5M | $41.8M | ||
| Property and equipment, net | $163.7M | $135.6M | ||
| Restricted cash, less current portion | $0 | $13.7M | ||
| Right-of-use assets - operating leases | $13.9M | $14.6M | ||
| Right-of-use assets - finance leases | $3.7M | $3.7M | ||
| Intangible assets, net | $165.7M | $0 | ||
| Goodwill | $450.1M | $17.1M | $17.1M | |
| Other noncurrent assets | $4.0M | $158.0K | ||
| Total assets | $1.8B | $407.3M | ||
| Accounts payable | $35.6M | $37.6M | ||
| Accounts payable - related parties | $330.0K | $86.0K | ||
| Accrued expenses | $42.8M | $14.4M | ||
| Operating lease liability, current | $1.2M | $1.1M | ||
| Finance lease liability, current | $1.1M | $856.0K | ||
| Deferred revenue, current | $116.1M | $108.1M | ||
| Notes payable, current | $7.1M | $6.3M | ||
| Other current liabilities | $9.4M | $10.8M | ||
| Total current liabilities | $213.6M | $179.4M | ||
| Operating lease liability, less current portion | $15.8M | $16.5M | ||
| Finance lease liability, less current portion | $2.0M | $2.0M | ||
| Deferred revenue, less current portion | $92.6M | $45.9M | ||
| Notes payable, less current portion | $281.4M | $124.1M | ||
| Notes payable, less current portion - related parties | $0 | $17.5M | ||
| Warrant liability | $12.3M | $4.1M | ||
| Other liabilities, less current portion | $17.3M | $26.0M | ||
| Total liabilities | $635.0M | $415.4M | ||
| Redeemable convertible preferred stock, $0.0001 par value; 100,000 and 51,033 shares authorized as of September 30, 2025 and December 31, 2024, respectively; 0 and 41,588 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively; $0 and $1,227,158 liquidation preference as of September 30, 2025 and December 31, 2024, respectively | $0 | $759.6M | ||
| Common stock, $0.0001 par value, 1,000,000 and 154,397 shares authorized as of September 30, 2025 and December 31, 2024, respectively; 148,138 and 13,241 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | $17.0K | $1.0K | ||
| Additional paid-in capital | $2.2B | $0 | ||
| Accumulated deficit | -$1.0B | -$767.6M | ||
| Total stockholders' equity (deficit) | $1.2B | -$767.6M | -$504.5M | -$350.7M |
| Total liabilities, temporary equity, and stockholders' equity (deficit) | $1.8B | $407.3M | ||
| Common stock, par or stated value per share (in USD per share) | $0.00 | $0.00 | ||
| Common Stock, Shares Authorized | 1.0B shares | 154.4M shares | ||
| Common stock, shares, issued (in shares) | 159.3M shares | 13.2M shares | ||
| Common stock, shares, outstanding (in shares) | 159.3M shares | 13.2M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $793.0M | $123.4M | $81.9M | |
| Short-term investments | $100.0M | $0 | ||
| Restricted cash, current | $0 | $424.0K | $2.4M | |
| Accounts receivable, net | $46.1M | $1.0M | ||
| Advanced payments, current | $12.3M | $52.4M | ||
| Other current assets | $11.7M | $3.5M | ||
| Total current assets | $963.2M | $180.7M | ||
| Advanced payments, less current portion | $60.5M | $41.8M | ||
| Property and equipment, net | $163.7M | $135.6M | ||
| Restricted cash, less current portion | $0 | $13.7M | ||
| Right-of-use assets - operating leases | $13.9M | $14.6M | ||
| Right-of-use assets - finance leases | $3.7M | $3.7M | ||
| Intangible assets, net | $165.7M | $0 | ||
| Goodwill | $450.1M | $17.1M | $17.1M | |
| Other noncurrent assets | $4.0M | $158.0K | ||
| Total assets | $1.8B | $407.3M | ||
| Accounts payable | $35.6M | $37.6M | ||
| Accounts payable - related parties | $330.0K | $86.0K | ||
| Accrued expenses | $42.8M | $14.4M | ||
| Operating lease liability, current | $1.2M | $1.1M | ||
| Finance lease liability, current | $1.1M | $856.0K | ||
| Deferred revenue, current | $116.1M | $108.1M | ||
| Notes payable, current | $7.1M | $6.3M | ||
| Other current liabilities | $9.4M | $10.8M | ||
| Total current liabilities | $213.6M | $179.4M | ||
| Operating lease liability, less current portion | $15.8M | $16.5M | ||
| Finance lease liability, less current portion | $2.0M | $2.0M | ||
| Deferred revenue, less current portion | $92.6M | $45.9M | ||
| Notes payable, less current portion | $281.4M | $124.1M | ||
| Notes payable, less current portion - related parties | $0 | $17.5M | ||
| Warrant liability | $12.3M | $4.1M | ||
| Other liabilities, less current portion | $17.3M | $26.0M | ||
| Total liabilities | $635.0M | $415.4M | ||
| Redeemable convertible preferred stock, $0.0001 par value; 100,000 and 51,033 shares authorized as of September 30, 2025 and December 31, 2024, respectively; 0 and 41,588 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively; $0 and $1,227,158 liquidation preference as of September 30, 2025 and December 31, 2024, respectively | $0 | $759.6M | ||
| Common stock, $0.0001 par value, 1,000,000 and 154,397 shares authorized as of September 30, 2025 and December 31, 2024, respectively; 148,138 and 13,241 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | $17.0K | $1.0K | ||
| Additional paid-in capital | $2.2B | $0 | ||
| Accumulated deficit | -$1.0B | -$767.6M | ||
| Total stockholders' equity (deficit) | $1.2B | -$767.6M | -$504.5M | -$350.7M |
| Total liabilities, temporary equity, and stockholders' equity (deficit) | $1.8B | $407.3M | ||
| Common stock, par or stated value per share (in USD per share) | $0.00 | $0.00 | ||
| Common Stock, Shares Authorized | 1.0B shares | 154.4M shares | ||
| Common stock, shares, issued (in shares) | 159.3M shares | 13.2M shares | ||
| Common stock, shares, outstanding (in shares) | 159.3M shares | 13.2M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$298.3M | -$231.1M | -$135.5M |
| Depreciation and amortization | $23.2M | $12.5M | $4.7M |
| (Gain) loss on disposal of fixed assets | -$9.0K | $1.7M | -$1.0K |
| Stock-based compensation | $17.8M | $1.8M | $1.6M |
| Change in fair value of warrant liability | $50.3M | $3.1M | $147.0K |
| Loss on extinguishment of debt | $30.4M | $0 | $0 |
| Non-cash interest expense | $6.3M | $8.4M | $2.2M |
| Non-cash interest income | -$1.1M | $0 | $0 |
| Non-cash inventory write-off | $0 | $247.0K | $0 |
| Deferred income taxe | -$37.2M | $0 | $0 |
| Accounts receivable | $644.0K | $1.7M | -$1.0M |
| Advanced payments | $21.3M | -$34.6M | -$39.5M |
| Other assets | -$314.0K | $4.5M | $4.5M |
| Accounts payable | -$17.4M | $8.3M | $9.7M |
| Accounts payable - related parties | $244.0K | -$1.3M | $1.0M |
| Accrued expenses | -$22.6M | -$2.1M | $3.9M |
| Other liabilities | -$26.4M | $36.2M | $452.0K |
| Right-of-use assets | $2.1M | $5.9M | $1.7M |
| Lease liabilities | -$6.9M | -$3.8M | -$578.0K |
| Deferred revenue | $53.0M | $30.8M | $53.2M |
| Net cash used in operating activities | -$204.9M | -$157.7M | -$93.4M |
| Purchases of property and equipment | -$32.8M | -$32.7M | -$77.2M |
| Purchases of time deposits | $100.0M | $0 | $0 |
| Acquisition of business, net of acquired cash | -$277.4M | $0 | $7.3M |
| Proceeds from sale of property and equipment | $280.0K | $0 | $0 |
| Proceeds from sale of short-term investments | $8.4M | $0 | $0 |
| Net cash used in investing activities | -$401.6M | -$32.7M | -$70.0M |
| Proceeds from issuance of common stock | $943.7M | $0 | $0 |
| Costs associated with initial public offering | -$11.6M | $0 | $0 |
| Proceeds from issuance of Preferred Stock | $232.0M | $189.0M | $149.8M |
| Principal payments on finance leases | -$1.4M | -$84.0K | -$1.6M |
| Proceeds from issuance of notes payable | $0 | $49.0M | $101.7M |
| Payment of initial public offering closing Preferred Stock Dividend | -$5.0M | $0 | $0 |
| Proceeds from notes payable - related parties | $0 | $0 | $21.1M |
| Repayment of notes payable - related parties | -$21.1M | $0 | $0 |
| Payments on notes payable | -$133.2M | -$3.7M | -$985.0K |
| Payments on mortgage principal | $0 | $0 | -$188.0K |
| Payments of debt issuance costs | -$4.3M | -$2.3M | -$24.7M |
| Payments of debt issuance costs - related parties | $0 | $0 | -$5.4M |
| Proceeds from repayment of employee note | $601.0K | $247.0K | $307.0K |
| Proceeds from Revolving Credit Facility | $260.0M | $0 | $0 |
| Proceeds from exercise of stock options | $2.2M | $585.0K | $559.0K |
| Net cash provided by financing activities | $1.3B | $232.8M | $240.7M |
| Net increase in cash and cash equivalents and restricted cash | $655.4M | $42.4M | $77.3M |
| Cash paid for interest | $16.5M | $21.1M | $12.6M |
| Property and equipment additions in accounts payable | $4.3M | $3.1M | $5.9M |
| Capitalized interest (paid-in-kind) | $683.0K | $0 | $0 |
| Equity issued for business combination | $269.6M | $0 | $9.8M |
| Issuance of debt in exchange of software licenses | $663.0K | $0 | $0 |
| Acquisition of internal-use software licenses and obligations | $18.5M | $0 | $0 |
| Right-of-use asset acquired in exchange for operating lease liabilities | $0 | $0 | $2.9M |
| Right-of-use asset acquired in exchange for finance lease liabilities | $1.6M | $109.0K | $3.9M |
| Initial fair value of warrants at issuance | $0 | $107.0K | $844.0K |
| Property and equipment acquired through loans | $0 | $0 | $630.0K |
| Property and equipment acquired through finance leases | $0 | $0 | $3.9M |
| Net exercise of Common Warrants into common stock | $46.1M | $0 | $0 |
| Issuance of Preferred Stock Dividend | $86.1M | $0 | $0 |
| Conversion of Preferred Stock to common stock upon initial public offering | $937.1M | $0 | $0 |
No quarter-by-quarter statement was filed.
Leadership
Who has led FLY Leasing, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
- Chief executive officerJesung Kim Aug 6, 2025 to now9
- Chief financial officerDarren Ma Aug 6, 2025 to now10
- Chief operating officerDaniel Frank Fermon Aug 6, 2025 to Dec 23, 202511
- Chief operating officerRamon Gilbert Sanchez Dec 23, 2025 to now12
Board members and other officers (12)
- Chief Accounting OfficerRemington Wu Aug 6, 2025 to now13
- Chief Technology OfficerRussell Shea Ferring Aug 6, 2025 to now14
- Board memberChristopher Plummer Emerson Iv. Aug 6, 2025 to now15
- Board memberJesung Kim Aug 6, 2025 to now9
- Board memberJonathan Donald Lusczakoski Aug 6, 2025 to now16
- Board memberKirk Michael Konert Aug 6, 2025 to now17
- Board memberMarc Allen Weiser Aug 6, 2025 to now18
- Board memberPamela Joyce Braden Aug 6, 2025 to now19
- Board memberRyan Michael Boland Aug 6, 2025 to now20
- Board memberThomas Hansueli Zurbuchen Aug 6, 2025 to now21
- General counselNathan O'Konek Jun 23, 2026 to now22
- General counselDavid Leigh Wheeler Aug 6, 2025 to now23
Products and brands
- aircraft lease
Listed on Wikidata.1
Timeline
Filings
150 filings to the SEC since October 2021: 1 annual reports, 4 quarterly reports, 17 major events, 68 insider forms, 6 large holders, 6 private raises, 48 other. The latest 20:
- Oct 7, 20264 EDGAR
- Oct 7, 20263 EDGAR
- Oct 6, 2026424B3 EDGAR
- Oct 6, 20268-K EDGAR
- Oct 2, 20264 EDGAR
- Sep 23, 20264 EDGAR
- Sep 18, 20264 EDGAR
- Sep 18, 20264 EDGAR
- Sep 18, 20264 EDGAR
- Sep 18, 20264 EDGAR
- Aug 18, 20264 EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 11, 2026424B3 EDGAR
- Aug 11, 202610-Q EDGAR
- Aug 11, 20268-K EDGAR
- Aug 11, 2026SCHEDULE 13G/A EDGAR
- Aug 6, 20264 EDGAR
- Jul 8, 2026D EDGAR
- Jun 23, 20263 EDGAR
The 150 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 6 such filings since October 2021:
- Aug 14, 2026SCHEDULE 13G/A
- Aug 14, 2026SCHEDULE 13G/A
- Aug 11, 2026SCHEDULE 13G/A
- Feb 2, 2026SCHEDULE 13G/A
- Nov 14, 2025SCHEDULE 13G
- Nov 10, 2025SCHEDULE 13G
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Money raised
Private offerings the company reported to the SEC on Form D.
- Jun 23, 2026Raised $22 million in a private offering of equity Form D: 18 investors so far Form D
- Oct 31, 2024Raised $175.5 million in a private offering of equity Form D: 10 investors so far Form D
- Jul 17, 2023Raised $12.3 million in a private offering of equity Form D: 2 investors so far Form D
- Feb 2, 2023Raised $179.3 million in a private offering of equity Form D: 9 investors so far Form D
- Mar 22, 2022Raised $50 million in a private offering of equity Form D: $75 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, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Ae Industrial Partners, LP | 34,530,582 | $1.0B | 74.2% | −697,172 |
| BlackRock, Inc. | 5,903,830 | $173.6M | 0.0% | +3,865,915 |
| State Street Corp | 4,179,095 | $122.9M | 0.0% | +3,688,226 |
| Vanguard Portfolio Management LLC | 3,591,198 | $105.6M | 0.0% | +1,163,997 |
| Vanguard Capital Management LLC | 3,071,164 | $90.3M | 0.0% | +737,275 |
| Van Eck Associates Corp | 3,048,335 | $89.6M | 0.1% | +927,804 |
| Jpmorgan Chase & Co | 2,792,070 | $81.2M | 0.0% | +2,159,291 |
| Two Sigma Investments, LP | 2,714,411 | $79.8M | 0.1% | +2,696,140 |
| Tema ETFs LLC | 2,280,867 | $67.1M | 2.2% | +2,279,159 |
| Tidal Investments LLC | 2,167,135 | $63.7M | 0.2% | New |
| Phoenix Financial Ltd. | 1,812,863 | $53.3M | 0.4% | +1,152,803 |
| UBS Group AG | 1,625,890 | $47.8M | 0.0% | +557,055 |
| Geode Capital Management, LLC | 1,550,013 | $45.6M | 0.0% | +898,084 |
| Capital World Investors | 1,239,010 | $36.4M | 0.0% | +33,801 |
| Morgan Stanley | 1,154,194 | $33.9M | 0.0% | +724,143 |
| Mirae Asset Global Investments Co., Ltd. | 1,053,718 | $31.0M | 0.1% | New |
| Marex Group Ltd | 964,348 | $28.4M | 0.2% | +502,140 |
| Invesco Ltd. | 808,987 | $23.8M | 0.0% | +251,947 |
| Lbp Am Sa | 759,041 | $22.3M | 0.2% | +19,015 |
| Goldman Sachs Group Inc | 627,832 | $18.5M | 0.0% | +131,011 |
| Renaissance Technologies LLC | 617,700 | $18.2M | 0.0% | +288,400 |
| Northern Trust Corp | 575,582 | $16.9M | 0.0% | +400,596 |
| Nuveen, LLC | 513,032 | $15.1M | 0.0% | +413,204 |
| Tudor Investment Corp Et Al | 504,659 | $14.8M | 0.1% | −34,039 |
| Ghisallo Capital Management LLC | 500,000 | $14.7M | 0.3% | +340,000 |
13F reports cover disclosed long positions in U.S. stocks only.
Links
- Websitewww.flyleasing.com1
- WikipediaFLY Leasing
- WikidataQ5426582
- SEC EDGARCIK 1860160
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataFLY Leasing on Wikidata
- 2SEC EDGARFLY Leasing filings on SEC EDGAR
- 3WikipediaFLY Leasing on Wikipedia
- 4
- 5SEC EDGARFLY Leasing filings on SEC EDGAR
- 6SEC EDGARFLY Leasing 10-K for fiscal 2025
- 7SEC EDGARFLY Leasing 10-Q for fiscal 2026
- 8SEC EDGARFLY Leasing 10-Q for fiscal 2026
- 9SEC EDGARJesung Kim, Chief executive officer
- 10SEC EDGARDarren Ma, Chief financial officer
- 11
- 12
- 13
- 14
- 15
- 16
- 17SEC EDGARKirk Michael Konert, Board member
- 18SEC EDGARMarc Allen Weiser, Board member
- 19SEC EDGARPamela Joyce Braden, Board member
- 20SEC EDGARRyan Michael Boland, Board member
- 21
- 22SEC EDGARNathan O'Konek, General counsel
- 23SEC EDGARDavid Leigh Wheeler, General counsel
- 24