10-Q
Quarterly Report
AerSale Corporation
ASLE
NASDAQ
CIK: 1754170
File #: 001-38801
Balance Sheet
57 line items · 2 periods
XBRL
| Item | Mar 31, 2025 | Dec 31, 2024 |
|---|---|---|
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS | ||
Assets | ||
Current assets: | ||
Cash and cash equivalents | 4,691,000 | 4,698,000 |
Accounts receivable, net of allowance for credit losses of $1,173 as of March 31, 2025 and December 31, 2024 | 39,867,000 | 34,646,000 |
Income tax receivable | 2,233,000 | 1,994,000 |
Inventory: | ||
Aircraft, airframes, engines, and parts, net | 265,617,000 | 224,832,000 |
Advance vendor payments | 6,696,000 | 6,803,000 |
Deposits, prepaid expenses, and other current assets | 10,184,000 | 11,057,000 |
Total current assets | 329,288,000 | 284,030,000 |
Fixed assets: | ||
Aircraft and engines held for lease, net | 69,490,000 | 67,847,000 |
Property and equipment, net | 37,423,000 | 36,331,000 |
Inventory: | ||
Aircraft, airframes, engines, and parts, net | 125,545,000 | 130,958,000 |
Operating lease right-of-use assets | 31,935,000 | 33,105,000 |
Deferred income taxes | 10,574,000 | 10,171,000 |
Deferred financing costs, net | 1,320,000 | 1,296,000 |
Other assets | 630,000 | 595,000 |
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 | 19,988,000 | 20,530,000 |
Total assets | 646,053,000 | 604,723,000 |
Corporate | 13,940,000 | 15,732,000 |
TechOps | 207,188,000 | 205,655,000 |
Asset Management Solutions | 424,925,000 | 383,336,000 |
Liabilities and Stockholder's Equity | ||
Current liabilities: | ||
Accounts payable | 27,537,000 | 34,184,000 |
Accrued expenses | 7,471,000 | 7,400,000 |
Lessee and customer purchase deposits | 2,735,000 | 1,734,000 |
Current operating lease liabilities | 4,451,000 | 4,356,000 |
Current portion of long-term debt | 825,000 | 605,000 |
Deferred revenue | 924,000 | 1,781,000 |
Deferred insurance proceeds | 28,610,000 | 24,910,000 |
Total current liabilities | 72,553,000 | 74,970,000 |
Revolving credit facility | 133,078,000 | 39,235,000 |
Long-term debt | 1,058,000 | 1,209,000 |
CIBC - Equipment Loan | 1,883,000 | — |
Long-term lease deposits | 3,237,000 | 2,987,000 |
Long-term operating lease liabilities | 29,353,000 | 30,565,000 |
Maintenance deposit payments and other liabilities | 174,000 | 52,000 |
Warrant liability | 142,000 | 85,000 |
Total liabilities | 239,595,000 | 149,103,000 |
Stockholders' equity: | ||
Common stock, $0.0001 par value. Authorized 200,000,000 shares; issued and outstanding 46,860,066 and 53,252,563 shares as of March 31, 2025 and December 31, 2024 | 5,000 | 5,000 |
Additional paid-in capital | 272,608,000 | 316,493,000 |
Retained earnings | 133,845,000 | 139,122,000 |
Total stockholders' equity | 406,458,000 | 455,620,000 |
Retained earnings | 133,845,000 | 139,122,000 |
Additional paid-in capital | 272,608,000 | 316,493,000 |
Common stock | 5,000 | 5,000 |
Total liabilities and stockholders' equity | 646,053,000 | 604,723,000 |