Premier Air Charter (PREM) Q1 2026 Earnings Report

Premier Air Charter Holdings Inc (PREM) reported QQ1 2026 results with revenue of $7.43 million, up 26.4% QoQ, but the quarter remained unprofitable on both an EBITDA and net income basis. EBITDA and operating income printed at -$0.824 million, with a net loss of -$0.999 million and an EPS of -$0.004. The improvement in top-line momentum did not translate into margin expansion, as selling, general and administrative expenses plus other operating costs kept total operating expenses at $1.045 million and cost of revenue at $7.206 million, yielding a gross profit of only $0.221 million and a gross margin of 2.98%. Interest expense of $0.308 million further pressured the bottom line, contributing to a negative pre-tax result and nil income tax impact.

Despite the earnings shortfall, the company generated operating cash flow of $1.212 million and reported free cash flow of $1.212 million for the period. Cash on hand stood at $59k at period end, while total assets reached ~$28.65 million against total liabilities of ~$32.43 million, producing a negative stockholders’ equity of approximately -$3.78 million. The balance sheet displays a current-liability heavy structure ($9.65 million current liabilities vs. $0.84 million current assets), signaling liquidity pressure despite positive operating cash flow. Net debt sits at -$59k, reflecting a minor cash cushion but no visible long-term debt in the data provided.

Overall, PREM’s QQ1 2026 results reflect a high-variance, early-stage aviation services business: revenue growth is encouraging in the near term, but profitability and balance-sheet leverage remain pivotal hurdles. The fundaments suggest a lean path to profitability would rely on sustained revenue acceleration, improved margin discipline, and disciplined working capital management. Investors should monitor fleet utilization efficiency, cost structure optimization, and any changes to working capital and capitalization strategy going forward.