Is JBLU diluting shareholders?

Read three numbers together: shares outstanding over time (377.3M as of 2026-06-30), warrants that can convert into new shares (700,000 reported), and how much cash runway remains (~257.87234042553195 months). A company short on cash with live registrations is structurally likely to issue shares.

Where do these numbers come from?

SEC EDGAR only: the XBRL company-facts API for shares, warrants and cash, and filing metadata for registrations and pricings. Every figure shows its source form, and nothing here is estimated by us beyond the arithmetic stated next to it.

Why might a warrant tranche be missing from the table?

The tranche table is built from the dimensions the company tagged in its own 10-Q or 10-K XBRL. A tranche the filer chose not to dimension does not appear, and its absence proves nothing: the exhibits remain the ground truth. Everything shown carries the filing it came from.

Dilution profile // every instrument, one screen, from SEC filings

JETBLUE AIRWAYS CORP (JBLU)

CIK 1158463 · all EDGAR filings →

Overall dilution risk

HIGHworst of 4 computed signals (offering ability)

= the worst band among the computed sub-ratings, no hidden weighting

Offering ability

HIGHS-3ASR on file 2025-02-27

= is there a registration (S-1/S-3 family) on file without a later withdrawal

no structured fee data on the live registrations, so this is a yes/no, not a size

Overhead supply

LOWwarrants = 0% of O/S

= warrant shares outstanding divided by current shares outstanding (bands: 20% / 50%)

warrants only; converts, ATMs and equity lines are not in free structured data, so the true overhead is AT LEAST this

Historical dilution

LOW+13% O/S in 3y

= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative

Cash need

LOW~257.9 months of runway

= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

Latest: 377.3M shares as of Jun 30, 2026 (10-Q).

Cash runway

Self-funding

generates cash

Full breakdown: cash runway tool · source filing →

Warrants

Warrants outstanding: 700,000 underlying shares, as reported May 6, 2021 (10-Q).

Reported exercise price: $19.9 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $5.0M as of May 6, 2021.

Rough fully diluted estimate: 378.0M = 377.3M O/S + 700,000 warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.

Convertible notes

Note	Principal	Carrying	Conv. price	Rate	If converted
Non Public Convertible Notes Due 2029	not tagged	$460.0M	not tagged	2.5%	—
Non Public Convertible Senior Notes Due 2026	not tagged	$0	not tagged	0.5%	—

Notes exactly as the company dimensioned them in its 10-Q filed Jul 28, 2026 →. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding	377.3M	Jun 30, 2026
+ Warrants (aggregate, as tagged) (if exercised)	700,000	May 6, 2021
Fully diluted estimate	378.0M	+0.2% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

S-3ASRFeb 27, 2025fee exhibit found but no total offering amount (fees deferred, typical for automatic shelves)filing →

Last 12 months: 0 executed · 0 registered.

REGISTEREDFeb 27, 2025Automatic shelf registration — effective immediately (large filers)S-3ASR →

EXECUTEDSep 3, 2024Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDAug 21, 2024Unregistered share sale disclosed (8-K item 3.02)8-K →

REGISTEREDFeb 28, 2022Automatic shelf registration — effective immediately (large filers)S-3ASR →

EXECUTEDMar 26, 2021Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDDec 3, 2020Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

MARKETINGDec 2, 2020Free-writing prospectus — offering being marketedFWP →

MARKETINGDec 1, 2020Free-writing prospectus — offering being marketedFWP →

EXECUTEDDec 1, 2020Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

EXECUTEDAug 14, 2020Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

EXECUTEDAug 13, 2020Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

MARKETINGAug 13, 2020Free-writing prospectus — offering being marketedFWP →

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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