0001193125-26-216705
SEC filingRevenue grew 9.3% to $96.4M and gross margin surged to 19.8% from fleet modernization benefits, but net loss widened 19.3% on higher SG&A and lower other income.
Net loss widened 19.3% to -$6.5 million from -$5.4 million, despite the improvement in operating results. The deterioration was driven by lower gains on aircraft sales and higher interest expense, which more than offset the narrower operating loss. Diluted loss per share improved to -$0.17 from -$0.30, reflecting the lower net loss on a similar share count.
Management expects the fleet modernization to continue through fiscal 2026 and does not anticipate a material decline in revenue as older aircraft are replaced with newer models that offer increased availability and operating efficiency. Key factors that could affect liquidity include revenue growth rates, changes in demand, competitive pricing pressures, and the ability to keep operating expense growth in line with revenue growth. The company continues to monitor the fair value of assets held for sale, which is subject to inherent uncertainty.