The Florida rail operator reported 2025 revenue of $214m, up from $188m, but still posted a $127m loss and listed total debt of $2.26bn.
Nearly $199m came from fares and onboard purchases, yet management said it lacks liquid funds to meet obligations and has already deferred $117m in interest payments.
Ridership has been rising as higher petrol prices push demand, but limits on fare increases and mounting debt continue to cloud the Orlando-to-South Florida service's outlook.
Can ambitious expansion plans to Tampa and Las Vegas save Brightline from its crushing debt?
Beyond its financial crisis, what is the unaddressed human cost of Brightline's deadly safety record?
With record ridership, why is America's only private passenger train speeding toward bankruptcy?