Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.24.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 5,873 $ 147,188
Accounts receivable, net of allowance for credit losses of $978 and $1,074 as of December 31, 2023 and December 31, 2022 31,239 28,273
Income tax receivable 1,628  
Inventory:    
Aircraft, airframes, engines, and parts, net 177,770 117,488
Advance vendor payments 28,638 27,585
Deposits, prepaid expenses, and other current assets 19,626 13,022
Total current assets 264,774 333,556
Fixed assets:    
Aircraft and engines held for lease, net 26,475 31,288
Property and equipment, net 27,692 12,638
Inventory:    
Aircraft, airframes, engines, and parts, net 151,398 66,042
Operating lease right-of-use assets 27,519 31,624
Deferred income taxes 12,203 11,287
Deferred financing costs, net 1,506 544
Deferred customer incentives and other assets, net 525 628
Goodwill 19,860 19,860
Other intangible assets, net 21,986 24,112
Total assets 553,938 531,579
Current liabilities:    
Accounts payable 29,899 21,131
Accrued expenses 5,478 8,843
Lessee and customer purchase deposits 1,467 17,085
Current operating lease liabilities 4,593 4,426
Current portion of long-term debt 1,278  
Deferred revenue 2,998 1,355
Total current liabilities 45,713 52,840
Revolving credit facility 29,000  
Long-term debt 7,281  
Long-term lease deposits 102 152
Long-term operating lease liabilities 24,377 28,283
Maintenance deposit payments and other liabilities 64 668
Warrant liability 2,386 4,656
Total liabilities 108,923 86,599
Stockholders' equity:    
Common stock, $0.0001 par value. Authorized 200,000,000 shares; issued and outstanding 52,954,430 and 51,189,461 shares as of December 31, 2023 and December 31, 2022 5 5
Additional paid-in capital 311,739 306,141
Retained earnings 133,271 138,834
Total stockholders' equity 445,015 444,980
Total liabilities and stockholders' equity $ 553,938 $ 531,579