Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 147,188 $ 130,188
Accounts receivable, net of allowance for doubtful accounts of $1,074 and $1,692 as of December 31, 2022 and December 31, 2021 28,273 29,350
Inventory:    
Aircraft, airframes, engines, and parts, net 117,488 81,759
Advance vendor payments 27,585 14,287
Deposits, prepaid expenses, and other current assets 13,022 15,945
Total current assets 333,556 271,529
Fixed assets:    
Aircraft and engines held for lease, net 31,288 73,364
Property and equipment, net 12,638 7,350
Inventory:    
Aircraft, airframes, engines, and parts, net 66,042 77,534
Operating lease right-of-use assets 31,624  
Deferred income taxes 11,287 10,013
Deferred financing costs, net 544 999
Deferred customer incentives and other assets, net 628 598
Goodwill 19,860 19,860
Other intangible assets, net 24,112 26,238
Total assets 531,579 487,485
Current liabilities:    
Accounts payable 21,131 19,967
Accrued expenses 8,843 8,424
Income tax payable   3,443
Lessee and customer purchase deposits 17,085 33,212
Current operating lease liabilities 4,426  
Deferred revenue 1,355 2,860
Total current liabilities 52,840 67,906
Long-term lease deposits 152 2,053
Long-term operating lease liabilities 28,283  
Maintenance deposit payments and other liabilities 668 3,403
Deferred income taxes, net   1,113
Warrant liability 4,656 4,131
Total liabilities 86,599 78,606
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.0001 par value. Authorized 200,000,000 shares; issued and outstanding 51,189,461 and 51,673,099 shares as of December 31, 2022 and 2021, respectively 5 5
Additional paid-in capital 306,141 313,901
Retained earnings 138,834 94,973
Total stockholders' equity 444,980 408,879
Total liabilities and stockholders' equity $ 531,579 $ 487,485