| Summary of selected financial information for each segment |
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2021 |
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2020 |
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2021 |
|
2020 |
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Revenues |
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Asset Management Solutions |
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Aircraft |
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$ |
24,269 |
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$ |
10,602 |
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$ |
34,721 |
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$ |
24,840 |
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Engine |
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|
36,030 |
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|
10,249 |
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|
54,830 |
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|
26,842 |
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|
60,299 |
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|
20,851 |
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|
89,551 |
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|
51,682 |
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Tech Ops |
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|
|
|
|
|
|
|
|
|
|
|
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MRO services |
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|
29,380 |
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|
24,355 |
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|
56,433 |
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|
47,677 |
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Product sales |
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|
2,242 |
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|
150 |
|
|
4,372 |
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|
3,132 |
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|
|
|
31,622 |
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|
24,505 |
|
|
60,805 |
|
|
50,809 |
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Total |
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$ |
91,921 |
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$ |
45,356 |
|
$ |
150,356 |
|
$ |
102,491 |
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|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
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|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
|
Gross profit (loss) |
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Asset Management Solutions |
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Aircraft |
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$ |
5,178 |
|
$ |
(9,924) |
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$ |
9,641 |
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$ |
(6,262) |
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Engine |
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|
13,921 |
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|
1,017 |
|
|
23,045 |
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|
9,122 |
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|
|
|
19,099 |
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(8,907) |
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|
32,686 |
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|
2,860 |
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Tech Ops |
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|
|
|
|
|
|
|
|
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MRO services |
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|
11,048 |
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|
6,793 |
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|
16,074 |
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|
9,137 |
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Product sales |
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|
591 |
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(14) |
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|
1,813 |
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|
1,161 |
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|
11,639 |
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|
6,779 |
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|
17,887 |
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|
10,298 |
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Total |
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$ |
30,738 |
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$ |
(2,128) |
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$ |
50,573 |
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$ |
13,158 |
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| Summary of reconciles segment gross profit to net income |
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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|
|
2021 |
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2020 |
|
2021 |
|
2020 |
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Segment gross profit (loss) |
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$ |
30,738 |
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$ |
(2,128) |
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$ |
50,573 |
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$ |
13,158 |
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Selling, general and administrative expenses |
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|
(16,966) |
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(14,036) |
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(30,276) |
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|
(27,237) |
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Payroll support program proceeds |
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|
8,405 |
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|
6,346 |
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|
14,768 |
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|
6,346 |
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Transaction costs |
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|
- |
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|
16 |
|
|
- |
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(215) |
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Interest expense, net |
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|
(251) |
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|
(504) |
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|
(509) |
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|
(1,040) |
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Other income, net |
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|
155 |
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|
95 |
|
|
249 |
|
|
152 |
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Change in fair value of warrant liability |
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|
(407) |
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|
- |
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(631) |
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|
- |
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Income tax (expense) benefit |
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|
(5,126) |
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|
2,273 |
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(7,608) |
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|
1,957 |
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Net income (loss) |
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$ |
16,548 |
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$ |
(7,938) |
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$ |
26,566 |
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$ |
(6,879) |
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| Summary of intersegment revenues |
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
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Asset Management Solutions |
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$ |
536 |
|
$ |
832 |
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$ |
1,983 |
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$ |
1,102 |
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Tech Ops |
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|
1,328 |
|
|
542 |
|
|
3,486 |
|
|
1,461 |
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Total intersegment revenues |
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$ |
1,864 |
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$ |
1,374 |
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$ |
5,469 |
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$ |
2,563 |
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