Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.20.4
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Net revenue:      
Leasing $ 55,649,323 $ 64,245,884 $ 73,372,413
Revenues 208,938,247 304,201,203 290,732,049
Costs of sales and operating expenses:      
Cost of leasing 24,243,806 29,217,035 29,077,463
Total cost of sales 156,149,102 219,152,444 218,563,244
Gross profit 52,789,145 85,048,759 72,168,805
Selling, general, and administrative expenses 55,634,855 59,813,607 46,611,982
CARES Act proceeds (12,692,702)    
Transaction costs (recovered) incurred (1,435,705) 3,176,797 51,360
Income from operation 11,282,697 22,058,355 25,505,463
Other income (expenses):      
Interest expense, net (1,644,969) (3,006,663) (2,374,881)
Other income, net 494,465 611,109 367,806
Total other expenses (1,150,504) (2,395,554) (2,007,075)
Income from continuing operations before income tax provision 10,132,193 19,662,801 23,498,388
Income tax (expense) benefit (1,649,680) (4,163,663) 3,227,061
Net income from continuing operations 8,482,513 15,499,138 26,725,449
Discontinued operations:      
Gain from discontinued operations     22,640,442
Loss on deconsolidation of discontinued operations 0   (1,380,102)
Total discontinued operations     21,260,340
Net income 8,482,513 15,499,138 47,985,789
Net income attributable to non-controlling interests     39,132,578
Net income attributable to AerSale Corporation 8,482,513 15,499,138 8,853,211
Dividends attributable to preferred stockholders   34,632,836 33,577,536
Net (loss) from continuing operations attributable to AerSale Corporation common shareholders $ 8,482,513 $ (19,133,698) $ (24,724,325)
Earnings (loss) per share - basic:      
Earnings (loss) from continuing operations $ 8.09 $ (516.98) $ (185.14)
Earnings (loss) from continuing operations     (482.90)
Earnings (loss) per share - basic 8.09 (516.98) (668.04)
Earnings (loss) per share - diluted:      
Earnings (loss) from continuing operations 7.61 (516.98) (185.14)
Loss from discontinued operations     (482.90)
Earnings (loss) per share - diluted $ 7.61 $ (516.98) $ (668.04)
Product      
Net revenue:      
Revenues $ 49,390,126 $ 170,566,047 $ 178,580,286
Costs of sales and operating expenses:      
Cost of products 49,889,691 131,671,553 157,524,530
Services      
Net revenue:      
Revenues 103,898,798 69,389,272 38,779,350
Costs of sales and operating expenses:      
Total cost of sales $ 82,015,605 $ 58,263,856 $ 31,961,251