Premier Air Charter Holdings Inc (PREM) reported Q4 2025 results showing modest top-line activity but meaningful profitability headwinds. Revenue of $5.88 million was largely offset by cost of revenue and operating expenses, resulting in an EBITDA of -$0.86 million and a net loss of -$1.22 million for the quarter. The company generated positive operating cash flow of approximately $0.995 million, contributing to free cash flow of the same magnitude, and offsetting a reduction in cash caused by financing activities to end the period with roughly $0.147 million of net cash. Balance sheet remains structurally leveraged with total liabilities (~$30.8 million) exceeding total assets ($28.0 million) and negative stockholders’ equity (~$2.78 million). The firm holds a very tight liquidity position (current and quick ratios of ~0.11) but demonstrates low days sales outstanding (~9.5 days), indicating efficient collection in a small revenue base. Management commentary within the period is not captured in the provided transcript data; as such, forward guidance and qualitative outlook from the earnings call are not embedded in this report. The quarter’s performance underscores ongoing profitability challenges amid a capital-intensive jet charter and aircraft management business, even as cash generation remains a meaningful positive driver amid a negative equity structure.