Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 2,637 $ 5,873
Accounts receivable, net of allowance for credit losses of $978 as of March 31, 2024 and December 31, 2023 30,057 31,239
Income tax receivable 1,628 1,628
Inventory:    
Aircraft, airframes, engines, and parts, net 203,652 177,770
Advance vendor payments 37,560 35,757
Deposits, prepaid expenses, and other current assets 12,840 12,507
Total current assets 288,374 264,774
Fixed assets:    
Aircraft and engines held for lease, net 23,262 26,475
Property and equipment, net 30,387 27,692
Inventory:    
Aircraft, airframes, engines, and parts, net 147,193 151,398
Operating lease right-of-use assets 26,307 27,519
Deferred income taxes 12,906 12,203
Deferred financing costs, net 1,424 1,506
Deferred customer incentives and other assets, net 525 525
Goodwill 19,860 19,860
Other intangible assets, net 21,456 21,986
Total assets 571,694 553,938
Current liabilities:    
Accounts payable 26,278 29,899
Accrued expenses 5,720 5,478
Lessee and customer purchase deposits 805 1,467
Current operating lease liabilities 4,401 4,593
Current portion of long-term debt 1,033 1,278
Deferred revenue 2,009 2,998
Total current liabilities 40,246 45,713
Revolving credit facility 51,969 29,000
Long-term debt 3,527 7,281
Long-term lease deposits 102 102
Long-term operating lease liabilities 23,398 24,377
Maintenance deposit payments and other liabilities 62 64
Warrant liability 407 2,386
Total liabilities 119,711 108,923
Stockholders' equity:    
Common stock, $0.0001 par value. Authorized 200,000,000 shares; issued and outstanding 53,009,026 and 52,954,430 shares as of March 31, 2024 and December 31, 2023 5 5
Additional paid-in capital 312,430 311,739
Retained earnings 139,548 133,271
Total stockholders' equity 451,983 445,015
Total liabilities and stockholders' equity $ 571,694 $ 553,938