RJET

MKT CAP:$853M

Republic Airways Holdings Inc.

Market Cap

$853M

Industrials·Airlines, Airports & Air Services·🇺🇸 United States·NASDAQ

Industrials·Airlines,·🇺🇸·NASDAQ

Stock Price

$18.63-$0.99 (-5.05%)

Apr 22, 2026

Company Details

Republic Airways Holdings Inc. provides scheduled passenger services. It operates a fleet of approximately 240 aircraft and offers scheduled passenger service with 1,000 daily flights to 80 cities across the U.S., Canada, the Caribbean, and...

CEO

Matthew J. Koscal

IPO Date

Aug 10, 2018

Website

rjet.com

Key Metrics TTM

Revenue

$773M

+62.6% YoY

Net Income

-$146M

EPS (Diluted)

-$49.85

Free Cash Flow

$4M

Revenue / Share

$18.15

Gross Margin

21.2%

Operating Margin

5.2%

Net Margin

-18.9%

FCF Margin

0.5%

P/S

1.1x

P/E

—

Earnings Reports

Q1 2026

May 15, 2026

PENDING

FY 2025

Dec 30, 2025

$1.7B+13.7%EPS $1.87

Q4 2025

Dec 30, 2025

$464M+349.6%EPS $0.12

Q3 2025

Sep 29, 2025

$91M-21.3%EPS -$0.30

FY 2024

Dec 31, 2024

$1.5B+3.1%EPS $1.27

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$131M	-$7M	-$21M
Q4 21	$148M	$9M	-$4M
Q1 22	$123M	$3M	-$5M
Q2 22	$134M	$12M	$213.0K
Q3 22	$126M	$8M	-$9M
Q4 22	$147M	$21M	$6M
Q1 23	$122M	$4M	-$10M
Q2 23	$115M	-$4M	-$16M
Q3 23	$114M	-$6M	-$17M
Q4 23	$119M	$4M	-$11M
Q1 24	$132M	$27M	$14M
Q2 24	$111M	$10M	-$1M
Q3 24	$115M	$19M	$6M
Q4 24	$103M	$12M	$2M
Q3 25	$91M	$10M	-$2M
Q4 25	$464M	$123M	$34M

Valuation

Quarter	P/S	P/E
Q3 21	1.7x	51.4x
Q4 21	1.7x	—
Q1 22	1.6x	—
Q2 22	1.6x	—
Q3 22	1.6x	—
Q4 22	1.6x	—
Q1 23	1.6x	—
Q2 23	1.7x	—
Q3 23	1.7x	—
Q4 23	1.8x	—
Q1 24	1.8x	—
Q2 24	1.8x	—
Q3 24	1.8x	—
Q4 24	1.9x	—
Q3 25	2.0x	—
Q4 25	1.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	$54M	$49M
Q3 21	$2M	-$5M
Q4 21	$5M	-$15M
Q1 22	$5M	$2M
Q2 22	$4M	-$7M
Q3 22	-$222.0K	-$8M
Q4 22	-$6M	-$23M
Q1 23	-$3M	-$10M
Q2 23	-$5M	-$12M
Q3 23	-$10M	-$15M
Q4 23	-$8M	-$15M
Q1 24	$16M	$10M
Q2 24	$11M	$7M
Q3 24	$15M	$11M
Q4 24	-$12M	-$14M
Q3 25	-$661.0K	-$1M

Capital Expenditures

Quarter	CapEx
Q2 21	$5M
Q3 21	$6M
Q4 21	$20M
Q1 22	$3M
Q2 22	$10M
Q3 22	$8M
Q4 22	$17M
Q1 23	$8M
Q2 23	$7M
Q3 23	$5M
Q4 23	$7M
Q1 24	$6M
Q2 24	$4M
Q3 24	$3M
Q4 24	$2M
Q3 25	$716.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	+21.1%	+21.4%
Q4 21	-1.7%	+12.6%
Q1 22	+26.7%	-2.6%
Q2 22	+7.4%	-2.0%
Q3 22	-3.9%	-11.6%
Q4 22	-0.4%	-7.1%
Q1 23	-1.1%	+2.7%
Q2 23	-14.7%	-2.3%
Q3 23	-9.0%	-2.3%
Q4 23	-19.3%	-8.2%
Q1 24	+8.0%	-11.1%
Q2 24	-3.4%	-14.6%
Q3 24	+0.8%	-16.9%
Q4 24	-13.1%	-21.4%
Q3 25	-31.1%	-21.1%
Q4 25	+318.9%	+284.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$0	0.0%
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	SG&A
Q3 21	$14M
Q4 21	$13M
Q1 22	$8M
Q2 22	$11M
Q3 22	$12M
Q4 22	$14M
Q1 23	$14M
Q2 23	$11M
Q3 23	$10M
Q4 23	$12M
Q1 24	$11M
Q2 24	$10M
Q3 24	$11M
Q4 24	$10M
Q3 25	$11M
Q4 25	$89M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$106M	$0	$106M
Q1 22	$79M	$0	$79M
Q2 22	$58M	$0	$58M
Q3 22	$61M	$0	$61M
Q4 22	$59M	$0	$59M
Q1 23	$55M	$0	$55M
Q2 23	$51M	$0	$51M
Q3 23	$36M	$0	$36M
Q4 23	$19M	$0	$19M
Q1 24	$22M	$0	$22M
Q2 24	$19M	$5M	$25M
Q3 24	$19M	$0	$19M
Q4 24	$43M	$0	$43M
Q1 25	$87M	$187M	$274M
Q3 25	$42M	$0	$42M
Q4 25	$297M	$0	$297M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	2M	-9.1%	+1.2%
Q4 21	2M	+0.1%	-1.9%
Q1 22	2M	+0.2%	-8.6%
Q2 22	2M	+0.4%	-8.4%
Q3 22	2M	+0.4%	+1.1%
Q4 22	2M	+0.1%	+1.2%
Q1 23	3M	+9.8%	+10.8%
Q2 23	3M	+1.9%	+12.5%
Q3 23	3M	+0.5%	+12.5%
Q4 23	3M	+0.1%	+12.5%
Q1 24	3M	+0.3%	+2.8%
Q2 24	3M	+0.4%	+1.3%
Q3 24	3M	+0.3%	+1.1%
Q4 24	3M	+0.0%	+1.0%
Q3 25	47M	+1596.6%	+1607.5%
Q4 25	43M	-8.9%	+1450.3%

Shares Outstanding