Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.22.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 171,724 $ 130,188
Accounts receivable, net of allowance for doubtful accounts of $1,267 and $1,692 as of March 31, 2022 and December 31, 2021 42,894 42,571
Inventory:    
Aircraft, airframes, engines, and parts, net 80,295 81,759
Advance vendor payments 16,228 14,287
Deposits, prepaid expenses, and other current assets 3,208 2,724
Total current assets 314,349 271,529
Fixed assets:    
Aircraft and engines held for lease, net 53,579 73,364
Property and equipment, net 8,494 7,350
Inventory:    
Aircraft, airframes, engines, and parts, net 68,816 77,534
Deferred income taxes 10,788 10,013
Deferred financing costs, net 887 999
Deferred customer incentives and other assets, net 470 598
Goodwill 19,860 19,860
Other intangible assets, net 25,713 26,238
Total assets 502,956 487,485
Current liabilities:    
Accounts payable 20,168 19,967
Accrued expenses 6,811 8,424
Income tax payable 8,418 3,443
Lessee and customer purchase deposits 25,849 33,212
Deferred revenue 2,322 2,860
Total current liabilities 63,568 67,906
Long-term lease deposits 605 2,053
Maintenance deposit payments and other liabilities 2,320 3,403
Deferred income taxes, net 1,113 1,113
Warrant liability 5,365 4,131
Total liabilities 72,971 78,606
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.0001 par value. Authorized 200,000,000 shares; issued and outstanding 51,688,057 and 51,673,099 shares as of March 31, 2022 and December 31, 2021, respectively 5 5
Additional paid-in capital 317,781 313,901
Retained earnings 112,199 94,973
Total stockholders' equity 429,985 408,879
Total liabilities and stockholders' equity $ 502,956 $ 487,485