10-Q
Quarterly Report
AerSale Corporation
ASLE
NASDAQ
CIK: 1754170
File #: 001-38801
Balance Sheet
57 line items · 2 periods
XBRL
| Item | Sep 30, 2024 | Dec 31, 2023 |
|---|---|---|
Condensed Consolidated Balance Sheets | ||
Assets | ||
Current assets: | ||
Cash and cash equivalents | 9,787,000 | 5,873,000 |
Accounts receivable, net of allowance for credit losses of $1,173 and $978 as of September 30, 2024 and December 31, 2023, respectively | 33,745,000 | 31,239,000 |
Income tax receivable | 2,039,000 | 1,628,000 |
Inventory: | ||
Aircraft, airframes, engines, and parts, net | 263,728,000 | 177,770,000 |
Advance vendor payments | 12,257,000 | 35,757,000 |
Deposits, prepaid expenses, and other current assets | 18,180,000 | 12,507,000 |
Total current assets | 339,736,000 | 264,774,000 |
Fixed assets: | ||
Aircraft and engines held for lease, net | 40,163,000 | 26,475,000 |
Property and equipment, net | 32,710,000 | 27,692,000 |
Inventory: | ||
Aircraft, airframes, engines, and parts, net | 109,706,000 | 151,398,000 |
Operating lease right-of-use assets | 24,796,000 | 27,519,000 |
Deferred income taxes | 11,736,000 | 12,203,000 |
Deferred financing costs, net | 1,259,000 | 1,506,000 |
Other assets | 525,000 | 525,000 |
Goodwill | 19,860,000 | 19,860,000 |
Qwest - Asset Management Solutions | 13,416,000 | 13,416,000 |
ALGS - TechOps | 379,000 | 379,000 |
ACT - TechOps | 6,002,000 | 6,002,000 |
ACS - TechOps | 63,000 | 63,000 |
Other intangible assets, net | 20,965,000 | 21,986,000 |
Total assets | 601,456,000 | 553,938,000 |
Corporate | 20,234,000 | 17,729,000 |
TechOps | 180,612,000 | 163,883,000 |
Asset Management Solutions | 400,610,000 | 372,326,000 |
Liabilities and Stockholder's Equity | ||
Current liabilities: | ||
Accounts payable | 34,870,000 | 29,899,000 |
Accrued expenses | 6,221,000 | 5,478,000 |
Lessee and customer purchase deposits | 914,000 | 1,467,000 |
Current operating lease liabilities | 4,062,000 | 4,593,000 |
Current portion of long-term debt | 193,000 | 1,278,000 |
Deferred revenue | 854,000 | 2,998,000 |
Services | — | 2,700,000 |
Total current liabilities | 47,114,000 | 45,713,000 |
Revolving credit facility | 78,513,000 | 29,000,000 |
Long-term debt | 376,000 | 7,281,000 |
Synovus - Equipment Loan | 569,000 | — |
Long-term lease deposits | 1,537,000 | 102,000 |
Long-term operating lease liabilities | 22,297,000 | 24,377,000 |
Maintenance deposit payments and other liabilities | 57,000 | 64,000 |
Warrant liability | 38,000 | 2,386,000 |
Total liabilities | 149,932,000 | 108,923,000 |
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 | 5,000 | 5,000 |
Additional paid-in capital | 315,099,000 | 311,739,000 |
Retained earnings | 136,420,000 | 133,271,000 |
Total stockholders' equity | 451,524,000 | 445,015,000 |
Retained earnings | 136,420,000 | 133,271,000 |
Additional paid-in capital | 315,099,000 | 311,739,000 |
Common stock | 5,000 | 5,000 |
Total liabilities and stockholders' equity | 601,456,000 | 553,938,000 |