The webinar provided a highly detailed review of a very successful 2022 with GlobalX Chairman and CEO Ed Wegel and CFO Ryan Goepel also detailing an extensive list of 2023 objectives that includes continuous passenger and cargo fleet growth.

The Miami based charter and cargo airline will soon be at 9 passenger and 2 cargo aircraft and is working to grow the fleet to a total of 18 aircraft by year end.  Of note, it’s early in the year and  GlobalX already has secured contracts for almost 60% of its base case $140 million revenue forecast.

2022 Accomplishments (All $USD)

  • Exceeded 2022 revenue forecast of $90 Million by 8% delivering 2022 revenues of $97.1 Million, 592% increase over 2021
  • 2022 year end fleet size – 8 passenger aircraft
  • Operated Revenue flights to 266 airports for 105 Customers
  • Developed strong operational reliability metrics which enabled us to:
  • Establish NCAA core business
  • Dominate Florida to Dominican Republic Charter market
  • Establish leading charter airline to Cuba
  • Establish US Government contracts

Outlook 2023

  • 2023 revenue forecast base case $140+ Million & positive EBITDAR/EBITDA
  • Base case budget is over 58% contracted ($81.5M)
  • An additional $60M or 43% is currently being actively quoted and we anticipate that most of this will become contracted in the next 60 days
  • Assumes current fleet of only 9 Pax & 2 Cargo aircraft
  • 2023 fleet size target @ year end
  • Passenger – 9 to 12 aircraft
  • Cargo – 2 to 6 aircraft

Of importance to market watchers are the 6.8 million warrants that are set to expire in late April as the exercise of those warrants would add more cash to GlobalX’s treasury and remove pressure on the stock. CFO Ryan Goepel informed the webinar audience that 2.1 million warrants have already been exercised and 4.7 million remain.

However, without getting into details, he did say there is institutional interest to acquire the warrants, which would be a positive on all fronts should this come to pass.

The company is also looking at a NASDAQ uplist sometime in 2023 in conjunction with raising capital to expedite growth in the form of debt and or some combination of equity.

To watch the management webinar: Click Here

To review the presentation deck: Click Here

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