Q4 2024 Earnings Summary
| Metric | YoY Change | Reason |
|---|---|---|
Total Revenue | +109% (from $2.24M to $4.68M) | Total Revenue more than doubled YoY, driven by strong operational expansion including new tenant leases, increased aircraft fuel deliveries, and broader occupancy at key hangar campuses. These initiatives built on the momentum from prior periods’ expansion efforts contributing to sustained revenue growth. |
Rental Revenue | N/A (Q4 2024 = $2.58M; prior period unavailable) | Rental Revenue reached $2.58M in Q4 2024 with no prior period figures available, although similar growth drivers as seen in previous quarters—including additional tenant leases and higher occupancy—likely played a role. |
Total Assets | +38% (from $402.2M to $556.6M) | Total Assets expanded significantly due to increased investments in construction and development activities, as well as reallocation of cash into restricted cash and enhanced right-of-use assets. These investments build on earlier period initiatives that had begun to reshape the balance sheet structure. |
Stockholders’ Equity | +50% (from $69.2M to $104.1M) | A sharp boost in equity reflects improved capital structure from additional paid-in capital and reduced net losses, which builds on previous periods’ efforts to strengthen financial fundamentals through strategic growth and operational performance improvements. |
Operating Lease Liabilities |
| Operating lease liabilities surged due primarily to aggressive expansion of ground lease agreements at multiple airports, further emphasizing the company’s operational scale-up. This builds upon earlier period trends that were already indicating increased leasing commitments as part of the broader infrastructure expansion strategy. |
Total Liabilities | +47% (from $269.95M to $396.7M) | Total Liabilities rose markedly mainly driven by the steep increase in operating lease liabilities, coupled with higher warrants liabilities and accrued construction expenses. These liabilities reflect both new financing measures and ongoing operational investments that had been evolving from previous periods. |
Research analysts covering Sky Harbour Group.