Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 4,698 $ 5,873
Accounts receivable, net of allowance for credit losses of $1,173 and $978 as of December 31, 2024 and December 31, 2023, respectively 34,646 31,239
Income tax receivable 1,994 1,628
Inventory:    
Aircraft, airframes, engines, and parts, net 224,832 177,770
Advance vendor payments 6,803 35,757
Deposits, prepaid expenses, and other current assets 11,057 12,507
Total current assets 284,030 264,774
Fixed assets:    
Aircraft and engines held for lease, net 67,847 26,475
Property and equipment, net 36,331 27,692
Inventory:    
Aircraft, airframes, engines, and parts, net 130,958 151,398
Operating lease right-of-use assets 33,105 27,519
Deferred income taxes 10,171 12,203
Deferred financing costs, net 1,296 1,506
Other assets 595 525
Goodwill 19,860 19,860
Other intangible assets, net 20,530 21,986
Total assets 604,723 553,938
Current liabilities:    
Accounts payable 34,184 29,899
Accrued expenses 7,400 5,478
Lessee and customer purchase deposits 1,734 1,467
Current operating lease liabilities 4,356 4,593
Current portion of long-term debt 605 1,278
Deferred revenue 1,781 2,998
Deferred insurance proceeds 24,910  
Total current liabilities 74,970 45,713
Revolving credit facility 39,235 29,000
Long-term debt 1,209 7,281
Long-term lease deposits 2,987 102
Long-term operating lease liabilities 30,565 24,377
Maintenance deposit payments and other liabilities 52 64
Warrant liability 85 2,386
Total liabilities 149,103 108,923
Stockholders' equity:    
Common stock, $0.0001 par value. Authorized 200,000,000 shares; issued and outstanding 53,252,563 and 52,954,430 shares as of December 31, 2024 and December 31, 2023 5 5
Additional paid-in capital 316,493 311,739
Retained earnings 139,122 133,271
Total stockholders' equity 455,620 445,015
Total liabilities and stockholders' equity $ 604,723 $ 553,938