Vaunt Reaches $1 Million of Annual Recurring Revenue in 2024
June 18 2024 - 8:30AM
Business Wire
Modern service offering uses technology to fill
“empty” legs with new customers, tackling an industry issue of
empty planes being repositioned for the next flight
Vaunt, a platform for connecting travelers to private flights,
powered by Volato (NYSE American: SOAR), a leading private aviation
company and the largest HondaJet operator in the United States,
today announced that it has achieved $1 million of annual recurring
revenue (ARR) from paid subscriptions.
“We are pleased with the enthusiastic customer response to
Vaunt, with nearly 45,000 registered users to date, helping us
achieve the significant milestone of over $1 million in ARR, annual
recurring revenue, in less than 8 months since our commercial
launch,” said Nicholas Cooper, President of Vaunt. “Our growing
user base gives us a pipeline to acquire new subscribers as well as
a critical mass of users for Vaunt to continue to share their
Volato experiences with friends, family, and their networks. Vaunt
is an example of how we can take a modern approach and leverage
technology to turn an industry challenge into an opportunity.”
To date, Volato has filled over 450 empty leg flights with Vaunt
members and their passengers, reducing the number of planes flying
empty to be repositioned for their next flight. The platform
invites more travelers to experience the benefits of private air
travel, often for the first time.
Vaunt's subscription model currently charges an annual fee of
$995, allowing users to apply for unlimited empty-leg flights
offered through the Vaunt app. Selected passengers are notified of
the upcoming flight and gain an opportunity to experience the full
benefits of a one-way private flight for zero cost outside of the
membership fee.
Vaunt is currently available for download through the Apple App
Store and Google Play. Members have a rewarding referral system to
share Vaunt with their friends. More information on Vaunt is
available at https://flyvaunt.com/faq/. Terms and conditions
apply.
About Vaunt
Vaunt, wholly owned by Volato, Inc., is a new platform tackling
one of private aviation’s biggest challenges: empty-leg flights.
Leveraging propriety software and a mobile consumer app, Vaunt
makes it easy and affordable for spontaneous and frequent travelers
to fly private while addressing this empty-leg issue. All Vaunt
flights are operated by its DOT/FAA-authorized air carrier
affiliate or by an approved vendor air carrier.
About Volato
Volato (NYSE American: SOAR) is a leader in private aviation,
redefining air travel through modern, efficient, and
customer-designed solutions. Volato provides a fresh approach to
fractional ownership, aircraft management, jet card, deposit and
charter programs, all powered by advanced, proprietary mission
control technology. Volato's fractional programs uniquely offer
flexible hours and a revenue share for owners across the world’s
largest fleet of HondaJets, which are optimized for missions of up
to four passengers. For more information visit
www.flyvolato.com.
All Volato Part 135 charter flights are operated by its
DOT/FAA-authorized air carrier subsidiary (G C Aviation, Inc. d/b/a
Volato) or by an approved vendor air carrier.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240618626697/en/
For Media: media@flyvolato.com For Investors:
investors@flyvolato.com
Volato (AMEX:SOAR)
Historical Stock Chart
From Jul 2024 to Aug 2024
Volato (AMEX:SOAR)
Historical Stock Chart
From Aug 2023 to Aug 2024