Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

v3.25.1
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 4,691 $ 4,698
Accounts receivable, net of allowance for credit losses of $1,173 as of March 31, 2025 and December 31, 2024 39,867 34,646
Income tax receivable 2,233 1,994
Inventory:    
Aircraft, airframes, engines, and parts, net 265,617 224,832
Advance vendor payments 6,696 6,803
Deposits, prepaid expenses, and other current assets 10,184 11,057
Total current assets 329,288 284,030
Fixed assets:    
Aircraft and engines held for lease, net 69,490 67,847
Property and equipment, net 37,423 36,331
Inventory:    
Aircraft, airframes, engines, and parts, net 125,545 130,958
Operating lease right-of-use assets 31,935 33,105
Deferred income taxes 10,574 10,171
Deferred financing costs, net 1,320 1,296
Other assets 630 595
Goodwill 19,860 19,860
Other intangible assets, net 19,988 20,530
Total assets 646,053 604,723
Current liabilities:    
Accounts payable 27,537 34,184
Accrued expenses 7,471 7,400
Lessee and customer purchase deposits 2,735 1,734
Current operating lease liabilities 4,451 4,356
Current portion of long-term debt 825 605
Deferred revenue 924 1,781
Deferred insurance proceeds 28,610 24,910
Total current liabilities 72,553 74,970
Revolving credit facility 133,078 39,235
Long-term debt 1,058 1,209
Long-term lease deposits 3,237 2,987
Long-term operating lease liabilities 29,353 30,565
Maintenance deposit payments and other liabilities 174 52
Warrant liability 142 85
Total liabilities 239,595 149,103
Stockholders' equity:    
Common stock, $0.0001 par value. Authorized 200,000,000 shares; issued and outstanding 46,860,066 and 53,252,563 shares as of March 31, 2025 and December 31, 2024 5 5
Additional paid-in capital 272,608 316,493
Retained earnings 133,845 139,122
Total stockholders' equity 406,458 455,620
Total liabilities and stockholders' equity $ 646,053 $ 604,723