$ASLE
AerSale Corp

2024 Q3 Form 10-Q Financial Statement

#000155837024011383 Filed on August 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $82.68M $77.10M
YoY Change -10.6% 11.22%
Cost Of Revenue $59.01M $55.38M
YoY Change -14.49% 12.6%
Gross Profit $23.68M $21.72M
YoY Change 0.86% 7.85%
Gross Profit Margin 28.63% 28.17%
Selling, General & Admin $21.68M $23.57M
YoY Change -14.66% -13.01%
% of Gross Profit 91.57% 108.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.600M $1.200M
YoY Change -36.41% 33.33%
% of Gross Profit 6.76% 5.52%
Operating Expenses $21.68M $23.57M
YoY Change -14.66% -13.01%
Operating Profit $1.996M -$1.852M
YoY Change -203.47% -73.38%
Interest Expense -$1.768M -$1.528M
YoY Change 607.2% -501.05%
% of Operating Profit -88.58%
Other Income/Expense, Net -$1.409M -$1.288M
YoY Change 691.57% -167.36%
Pretax Income $587.0K -$3.140M
YoY Change -127.86% -37.76%
Income Tax $78.00K $497.0K
% Of Pretax Income 13.29%
Net Earnings $509.0K -$3.637M
YoY Change -443.92% 35.31%
Net Earnings / Revenue 0.62% -4.72%
Basic Earnings Per Share $0.01 -$0.07
Diluted Earnings Per Share $0.01 -$0.07
COMMON SHARES
Basic Shares Outstanding 53.21M 53.01M
Diluted Shares Outstanding 53.39M 53.03M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.787M $4.285M
YoY Change 210.3% -87.62%
Cash & Equivalents $9.787M $4.285M
Short-Term Investments
Other Short-Term Assets $30.44M $31.21M
YoY Change -40.47% -34.72%
Inventory $263.7M $378.8M
Prepaid Expenses
Receivables $33.75M $37.27M
Other Receivables $2.039M $1.700M
Total Short-Term Assets $339.7M $295.8M
YoY Change 18.74% -5.29%
LONG-TERM ASSETS
Property, Plant & Equipment $32.71M $32.68M
YoY Change 30.36% 42.77%
Goodwill $19.86M $19.86M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $525.0K $171.3M
YoY Change -99.63% 47.07%
Total Long-Term Assets $261.7M $302.9M
YoY Change -2.26% 27.47%
TOTAL ASSETS
Total Short-Term Assets $339.7M $295.8M
Total Long-Term Assets $261.7M $302.9M
Total Assets $601.5M $598.7M
YoY Change 8.59% 8.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $34.87M $29.39M
YoY Change -10.48% 12.65%
Accrued Expenses $6.221M $6.360M
YoY Change 58.74% 14.68%
Deferred Revenue $854.0K $2.286M
YoY Change -64.31% -25.63%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $193.0K $93.00K
YoY Change -69.46%
Total Short-Term Liabilities $47.11M $43.01M
YoY Change -17.23% -31.63%
LONG-TERM LIABILITIES
Long-Term Debt $78.89M $81.48M
YoY Change 377.33% 847.41%
Other Long-Term Liabilities $57.00K $59.00K
YoY Change -62.25% -13.24%
Total Long-Term Liabilities $78.95M $81.54M
YoY Change 52182.12% 119805.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $47.11M $43.01M
Total Long-Term Liabilities $78.95M $81.54M
Total Liabilities $149.9M $148.9M
YoY Change 46.08% 46.45%
SHAREHOLDERS EQUITY
Retained Earnings $136.4M $135.9M
YoY Change 0.31% -0.18%
Common Stock $5.000K $5.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $451.5M $449.8M
YoY Change
Total Liabilities & Shareholders Equity $601.5M $598.7M
YoY Change 8.59% 8.87%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $509.0K -$3.637M
YoY Change -443.92% 35.31%
Depreciation, Depletion And Amortization $1.600M $1.200M
YoY Change -36.41% 33.33%
Cash From Operating Activities $10.45M -$15.33M
YoY Change -126.89% -77.04%
INVESTING ACTIVITIES
Capital Expenditures $1.578M $3.616M
YoY Change -46.54% 8.59%
Acquisitions
YoY Change
Other Investing Activities -$878.0K -$5.610M
YoY Change -150.17% -168.41%
Cash From Investing Activities -$2.456M -$9.226M
YoY Change 104.33% -289.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.488M 26.20M
YoY Change -129.05% 196.39%
NET CHANGE
Cash From Operating Activities 10.45M -15.33M
Cash From Investing Activities -2.456M -9.226M
Cash From Financing Activities -2.488M 26.20M
Net Change In Cash 5.502M 1.648M
YoY Change -117.47% -103.11%
FREE CASH FLOW
Cash From Operating Activities $10.45M -$15.33M
Capital Expenditures $1.578M $3.616M
Free Cash Flow $8.868M -$18.94M
YoY Change -121.21% -72.97%

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 10pt 0pt;">Revision of Prior Period Financial Statements</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 10pt 0pt;">Certain balances in the condensed consolidated balance sheet as of December 31, 2023, and the condensed consolidated statements of cash flows for the six months ended June 30, 2023, have been reclassified to conform to the presentation in the condensed consolidated financial statements as of and for the three and six months ended June 30, 2024, primarily the reclassification of amounts related to deposits for Flight Equipment purchases from deposits, prepaid expenses, and other current assets to advance vendor payments. Such reclassification did not impact net income (loss), stockholder’s equity or total cash flows from operating activities, and did not have a material impact on the condensed consolidated financial statements.</p>
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CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.5004
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
3.73
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
644550
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
7.02
asle Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageRemainingContractualTerm
P10Y
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
644550
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.02
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P10Y
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
644550
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
7.02
asle Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedWeightedAverageRemainingContractualTerm
P10Y
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
2300000
asle Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Total Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodTotalGrantDateFairValue
2400000
CY2024Q2 asle Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Total Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodTotalGrantDateFairValue
2400000
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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0001558370-24-011383-index-headers.html Edgar Link pending
0001558370-24-011383-index.html Edgar Link pending
0001558370-24-011383.txt Edgar Link pending
0001558370-24-011383-xbrl.zip Edgar Link pending
asle-20240630.xsd Edgar Link pending
asle-20240630x10q.htm Edgar Link pending
asle-20240630xex10d1.htm Edgar Link pending
asle-20240630xex10d2.htm Edgar Link pending
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asle-20240630xex31d1.htm Edgar Link pending
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asle-20240630xex32d1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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asle-20240630_def.xml Edgar Link unprocessable
asle-20240630x10q_htm.xml Edgar Link completed
asle-20240630_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
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report.css Edgar Link pending
Show.js Edgar Link pending
asle-20240630_cal.xml Edgar Link unprocessable
asle-20240630_lab.xml Edgar Link unprocessable