Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 15 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Cash flows from operating activities:      
Net (loss) income $ (5,277) $ 6,277  
Adjustments to reconcile net (loss) income to net cash used in operating activities      
Depreciation and amortization 4,943 2,779  
Amortization of debt issuance costs 90 82 $ 100
Amortization of operating lease assets 53 40  
Inventory reserve 829 504  
Deferred income taxes (403) (703)  
Change in fair value of warrant liability 57 (1,979)  
Share-based compensation 1,160 799  
Changes in operating assets and liabilities:      
Accounts receivable (5,221) 1,182  
Income tax receivable (239)    
Inventory (39,709) (23,961)  
Deposits, prepaid expenses, and other current assets 873 (332)  
Other assets (35)    
Advance vendor payments 107 (1,803)  
Accounts payable (6,647) (3,619)  
Accrued expenses (18) 914  
Deferred revenue (857) (989)  
Lessee and customer purchase deposits 1,251 (662)  
Deferred insurance proceeds 3,700    
Other liabilities 122 (2)  
Net cash used in operating activities (45,221) (21,473)  
Cash flows from investing activities:      
Proceeds from sale of assets   3,800  
Acquisition of aircraft and engines held for lease, including capitalized cost (1,128)    
Purchase of property and equipment (2,411) (3,574)  
Net cash (used in) provided by investing activities (3,539) 226  
Cash flows from financing activities:      
Proceeds from long-term debt 220    
Repayments of long-term debt (151) (4,000)  
Proceeds from revolving credit facility 148,943 61,600  
Repayments of revolving credit facility (55,100) (39,481)  
Payments of debt issuance costs (114)    
Purchase of treasury stock (45,000)    
Taxes paid related to net share settlement of equity awards (45) (108)  
Net cash provided by financing activities 48,753 18,011  
Decrease in cash and cash equivalents (7) (3,236)  
Cash and cash equivalents, beginning of period 4,698 5,873 5,873
Cash and cash equivalents, end of period 4,691 2,637 $ 4,691
Supplemental disclosure of cash activities      
Income tax (refunds) payments, net (191) 3  
Interest paid 1,063 925  
Supplemental disclosure of noncash investing activities      
Reclassification of aircraft and aircraft engines inventory to (from) aircraft and engine held for lease, net $ 3,509 $ (2,020)