| Summary of selected financial information for each segment |
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2021 |
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2020 |
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2021 |
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2020 |
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Revenues |
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Asset Management Solutions |
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Aircraft |
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$ |
15,204 |
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$ |
20,979 |
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$ |
49,925 |
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$ |
45,819 |
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Engine |
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33,672 |
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8,673 |
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88,502 |
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35,515 |
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48,876 |
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29,652 |
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138,427 |
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81,334 |
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Tech Ops |
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MRO services |
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21,683 |
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26,516 |
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78,116 |
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|
74,193 |
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Product sales |
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2,739 |
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|
897 |
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7,111 |
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4,029 |
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24,422 |
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27,413 |
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85,227 |
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|
78,222 |
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Total |
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$ |
73,298 |
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$ |
57,065 |
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$ |
223,654 |
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$ |
159,556 |
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2021 |
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2020 |
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2021 |
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2020 |
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Gross profit |
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Asset Management Solutions |
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Aircraft |
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$ |
6,729 |
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$ |
14,374 |
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$ |
16,370 |
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$ |
9,110 |
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Engine |
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10,084 |
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|
4,343 |
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33,129 |
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13,465 |
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16,813 |
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18,717 |
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|
49,499 |
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|
22,575 |
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Tech Ops |
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MRO services |
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6,407 |
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7,686 |
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22,481 |
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16,823 |
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Product sales |
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1,412 |
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|
102 |
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3,225 |
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|
265 |
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7,819 |
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7,788 |
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25,706 |
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|
17,088 |
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Total |
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$ |
24,632 |
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$ |
26,505 |
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$ |
75,205 |
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$ |
39,663 |
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September 30, 2021 |
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December 31, 2020 |
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Total Assets |
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Asset Management Solutions |
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$ |
325,750 |
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$ |
277,016 |
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Tech Ops |
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113,528 |
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108,622 |
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Corporate |
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|
711 |
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|
3,492 |
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$ |
439,989 |
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$ |
389,130 |
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| Summary of reconciles segment gross profit to net income |
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2021 |
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2020 |
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2021 |
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2020 |
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Segment gross profit |
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$ |
24,632 |
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$ |
26,505 |
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$ |
75,205 |
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$ |
39,663 |
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Selling, general and administrative expenses |
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(22,803) |
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(13,377) |
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(53,079) |
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(40,614) |
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Payroll support program proceeds |
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- |
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6,347 |
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14,768 |
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12,693 |
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Transaction costs |
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- |
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(219) |
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- |
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(434) |
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Interest expense, net |
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(241) |
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(267) |
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(750) |
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(1,307) |
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Other income, net |
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9 |
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|
206 |
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|
258 |
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|
358 |
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Change in fair value of warrant liability |
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(2,104) |
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- |
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(2,735) |
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- |
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Income tax expense |
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(1,129) |
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(4,476) |
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(8,737) |
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(2,519) |
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Net (loss) income |
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$ |
(1,636) |
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$ |
14,719 |
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$ |
24,930 |
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$ |
7,840 |
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| Summary of intersegment revenues |
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2021 |
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2020 |
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2021 |
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2020 |
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Asset Management Solutions |
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$ |
959 |
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$ |
945 |
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$ |
2,942 |
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$ |
2,047 |
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Tech Ops |
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|
6,015 |
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6 |
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14,747 |
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|
1,467 |
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Total intersegment revenues |
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$ |
6,974 |
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$ |
951 |
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$ |
17,689 |
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$ |
3,514 |
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