Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.24.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 9,787 $ 5,873
Accounts receivable, net of allowance for credit losses of $1,173 and $978 as of September 30, 2024 and December 31, 2023, respectively 33,745 31,239
Income tax receivable 2,039 1,628
Inventory:    
Aircraft, airframes, engines, and parts, net 263,728 177,770
Advance vendor payments 12,257 35,757
Deposits, prepaid expenses, and other current assets 18,180 12,507
Total current assets 339,736 264,774
Fixed assets:    
Aircraft and engines held for lease, net 40,163 26,475
Property and equipment, net 32,710 27,692
Inventory:    
Aircraft, airframes, engines, and parts, net 109,706 151,398
Operating lease right-of-use assets 24,796 27,519
Deferred income taxes 11,736 12,203
Deferred financing costs, net 1,259 1,506
Other assets 525 525
Goodwill 19,860 19,860
Other intangible assets, net 20,965 21,986
Total assets 601,456 553,938
Current liabilities:    
Accounts payable 34,870 29,899
Accrued expenses 6,221 5,478
Lessee and customer purchase deposits 914 1,467
Current operating lease liabilities 4,062 4,593
Current portion of long-term debt 193 1,278
Deferred revenue 854 2,998
Total current liabilities 47,114 45,713
Revolving credit facility 78,513 29,000
Long-term debt 376 7,281
Long-term lease deposits 1,537 102
Long-term operating lease liabilities 22,297 24,377
Maintenance deposit payments and other liabilities 57 64
Warrant liability 38 2,386
Total liabilities 149,932 108,923
Stockholders' equity:    
Common stock, $0.0001 par value. Authorized 200,000,000 shares; issued and outstanding 53,210,842 and 52,954,430 shares as of September 30, 2024 and December 31, 2023 5 5
Additional paid-in capital 315,099 311,739
Retained earnings 136,420 133,271
Total stockholders' equity 451,524 445,015
Total liabilities and stockholders' equity $ 601,456 $ 553,938