AerSale Corp
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 8, 2024
ASLE$5.18+2.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (Unaudited)
Condensed Consolidated Statements of Cash Flows
(in thousands)
| | | | | | | | |
|---|---|---|---|---|---|---|---|
| | Nine Months Ended September 30, | ||||||
| · · 2024 · 2023 · | |||||||
| Cash flows from operating activities: | | | | | | | |
| Net income (loss) | | $3,149 | | $(2,831) | | ||
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | | | | | | | |
| Depreciation and amortization | | 10,945 | | 7,585 | | ||
| Amortization of debt issuance costs | | 248 | | 316 | | ||
| Amortization of operating lease assets | | | 111 | | 286 | | |
| Inventory reserve | | 1,809 | | 1,255 | | ||
| Provision for doubtful accounts | | 195 | | - | | ||
| Deferred income taxes | | 467 | | (2,331) | | ||
| Change in fair value of warrant liability | | | (2,348) | | | (1,004) | |
| Share-based compensation | | | 3,159 | | | 8,939 | |
| Changes in operating assets and liabilities: | | | | | |||
| Deferred financing costs | | | - | | (1,361) | | |
| Accounts receivable | | (2,700) | | (1,447) | | ||
| Income tax receivable | | | (411) | | | (1,313) | |
| Inventory | | (62,587) | | (168,313) | | ||
| Deposits, prepaid expenses, and other current assets | | (5,673) | | (2,313) | | ||
| Other assets | | (575) | | 93 | | ||
| Advance vendor payments | | 23,500 | | (8,212) | | ||
| Accounts payable | | 4,973 | | 17,824 | | ||
| Accrued expenses | | 657 | | (5,015) | | ||
| Deferred revenue | | (2,144) | | 1,038 | | ||
| Lessee and customer purchase deposits | | 882 | | (10,641) | | ||
| Other liabilities | | (11) | | (606) | | ||
| Net cash used in operating activities | | (26,354) | | (168,051) | | ||
| Cash flows from investing activities: | | | | ||||
| Proceeds from sale of assets | | 3,800 | | 14,450 | | ||
| Acquisition of aircraft and engines held for lease, including capitalized cost | | (6,488) | | - | | ||
| Purchase of property and equipment | | (8,768) | | (7,766) | | ||
| Net cash (used in) provided by investing activities | | (11,456) | | 6,684 | | ||
| Cash flows from financing activities: | | | | ||||
| Proceeds from long-term debt | | | 615 | | 8,559 | | |
| Repayments of long-term debt | | (8,605) | | - | | ||
| Proceeds from revolving credit facility | | 132,294 | | 26,100 | | ||
| Repayments of revolving credit facility | | (82,781) | | (17,500) | | ||
| Taxes paid related to net share settlement of equity awards | | | (124) | | | (104) | |
| Proceeds from the issuance of Employee Stock Purchase Plan shares | | | 325 | | | 278 | |
| Net cash provided by financing activities | | 41,724 | | 17,333 | | ||
| | | | | | | | |
| Increase (decrease) in cash and cash equivalents | | 3,914 | | (144,034) | | ||
| Cash and cash equivalents, beginning of period | | 5,873 | | 147,188 | | ||
| Cash and cash equivalents, end of period | | $9,787 | | $3,154 | | ||
| | | | | | | | |
| Supplemental disclosure of cash activities | | | | | | ||
| Income tax payments, net | | $(20) | | $1,306 | | ||
| Interest paid | | $4,173 | | $575 | | ||
| Supplemental disclosure of noncash investing activities | | | | | | | |
| Reclassification of aircraft and aircraft engines inventory to (from) aircraft and engine held for lease, net | | $12,711 | | $9,312 | | ||
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