Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 4,285 $ 5,873
Accounts receivable, net of allowance for credit losses of $978 as of June 30, 2024 and December 31, 2023 37,266 31,239
Income tax receivable 1,700 1,628
Inventory:    
Aircraft, airframes, engines, and parts, net 221,371 177,770
Advance vendor payments 13,589 35,757
Deposits, prepaid expenses, and other current assets 17,617 12,507
Total current assets 295,828 264,774
Fixed assets:    
Aircraft and engines held for lease, net 31,491 26,475
Property and equipment, net 32,683 27,692
Inventory:    
Aircraft, airframes, engines, and parts, net 157,442 151,398
Operating lease right-of-use assets 26,022 27,519
Deferred income taxes 12,032 12,203
Deferred financing costs, net 1,342 1,506
Deferred customer incentives and other assets, net 525 525
Goodwill 19,860 19,860
Other intangible assets, net 21,469 21,986
Total assets 598,694 553,938
Current liabilities:    
Accounts payable 29,388 29,899
Accrued expenses 6,360 5,478
Lessee and customer purchase deposits 644 1,467
Current operating lease liabilities 4,237 4,593
Current portion of long-term debt 93 1,278
Deferred revenue 2,286 2,998
Total current liabilities 43,008 45,713
Revolving credit facility 80,955 29,000
Long-term debt 522 7,281
Long-term lease deposits 767 102
Long-term operating lease liabilities 23,315 24,377
Maintenance deposit payments and other liabilities 59 64
Warrant liability 269 2,386
Total liabilities 148,895 108,923
Stockholders' equity:    
Common stock, $0.0001 par value. Authorized 200,000,000 shares; issued and outstanding 53,084,214 and 52,954,430 shares as of June 30, 2024 and December 31, 2023 5 5
Additional paid-in capital 313,883 311,739
Retained earnings 135,911 133,271
Total stockholders' equity 449,799 445,015
Total liabilities and stockholders' equity $ 598,694 $ 553,938