Stonegate Capital Partners Updates Coverage on Sky Harbour Group Corporation (SKYH) Q2 2025
Sky Harbour Group (NYSE:SKYH) demonstrated strong operational progress in Q2 2025, marked by significant expansion and financial growth. The company reported an 82% year-over-year revenue increase and an 18% sequential growth. Operating cash use improved to $0.9M from $5M in Q1, with robust liquidity of ~$75M.
SKYH expanded operations by opening new campuses at Dallas Addison (ADS) and Seattle Boeing Field (BFI), with Denver Centennial (APA) preparations for early Q3. The company's portfolio now includes nine operational campuses, one nearing completion, and thirteen in pre-development. SKYH is pursuing a $200M five-year tax-exempt bank construction facility to fund 5-6 new airport projects.
Sky Harbour Group (NYSE:SKYH) ha mostrato solidi progressi operativi nel 2° trimestre 2025, caratterizzati da una significativa espansione e crescita finanziaria. La società ha registrato un aumento dei ricavi del 82% su base annua e una crescita sequenziale del 18%. L'utilizzo di cassa operativo è migliorato a $0,9M rispetto a $5M nel Q1, con una solida liquidità di ~$75M.
SKYH ha ampliato le attività aprendo nuovi campus a Dallas Addison (ADS) e Seattle Boeing Field (BFI), con Denver Centennial (APA) in preparazione per l'inizio del 3° trimestre. Il portafoglio comprende ora nove campus operativi, uno in fase di completamento e tredici in pre-sviluppo. SKYH sta perseguendo una facilità bancaria per la costruzione esente da imposte di $200M per cinque anni per finanziare 5-6 nuovi progetti aeroportuali.
Sky Harbour Group (NYSE:SKYH) mostró sólidos avances operativos en el 2T 2025, con una expansión relevante y crecimiento financiero. La compañía informó un aumento interanual de ingresos del 82% y un crecimiento secuencial del 18%. El uso de efectivo operativo mejoró a $0,9M desde $5M en el 1T, con una liquidez robusta de ~$75M.
SKYH amplió sus operaciones abriendo nuevos campus en Dallas Addison (ADS) y Seattle Boeing Field (BFI), y prepara Denver Centennial (APA) para el inicio del 3T. La cartera ahora incluye nueve campus operativos, uno próximo a completarse y trece en predesarrollo. SKYH está buscando una línea bancaria de construcción exenta de impuestos por $200M a cinco años para financiar 5–6 nuevos proyectos aeroportuarios.
Sky Harbour Group (NYSE:SKYH)는 2025년 2분기에 강한 운영 성과를 보이며 눈에 띄는 확장과 재무 성장을 기록했습니다. 회사는 전년 동기 대비 매출 82% 증가와 전분기 대비 18% 성장을 보고했습니다. 영업 현금 사용은 1분기 $5M에서 $0.9M으로 개선되었고, 유동성은 약 $75M으로 탄탄합니다.
SKYH는 댈러스 애디슨(ADS)과 시애틀 보잉 필드(BFI)에 새 캠퍼스를 열어 운영을 확장했으며, 덴버 센테니얼(APA)은 3분기 초 가동을 준비 중입니다. 포트폴리오에는 현재 운영 중인 캠퍼스 9곳, 완공 직전 1곳, 사전 개발 단계 13곳이 포함되어 있습니다. SKYH는 5~6개의 신규 공항 프로젝트 자금 조달을 위해 5년 만기, 세금 면제 은행 건설 대출 $200M을 추진하고 있습니다.
Sky Harbour Group (NYSE:SKYH) a affiché de solides progrès opérationnels au 2T 2025, marqués par une expansion significative et une croissance financière. La société a enregistré une hausse des revenus de 82% en glissement annuel et une croissance séquentielle de 18%. L'utilisation de trésorerie opérationnelle s'est améliorée, passant de $5M au T1 à $0,9M, avec une liquidité robuste d'environ $75M.
SKYH a étendu ses activités en ouvrant de nouveaux campus à Dallas Addison (ADS) et Seattle Boeing Field (BFI), tandis que Denver Centennial (APA) est en préparation pour le début du T3. Le portefeuille comprend désormais neuf campus opérationnels, dont un en cours d'achèvement et treize en pré-développement. SKYH recherche une facilité bancaire de construction exonérée d'impôts de $200M sur cinq ans pour financer 5 à 6 nouveaux projets aéroportuaires.
Sky Harbour Group (NYSE:SKYH) zeigte im 2. Quartal 2025 starke operative Fortschritte mit deutlicher Expansion und finanziellem Wachstum. Das Unternehmen meldete einen Umsatzanstieg von 82% im Jahresvergleich und ein sequenzielles Wachstum von 18%. Der operative Cash-Abfluss verbesserte sich von $5M im Q1 auf $0,9M, bei einer robusten Liquidität von ~$75M.
SKYH hat die Aktivitäten durch die Eröffnung neuer Standorte in Dallas Addison (ADS) und Seattle Boeing Field (BFI) ausgeweitet; Denver Centennial (APA) wird für Anfang Q3 vorbereitet. Das Portfolio umfasst nun neun betriebsbereite Standorte, einen kurz vor der Fertigstellung und dreizehn in der Vorentwicklung. SKYH strebt eine steuerbefreite, fünfjährige Bankfinanzierungsfazilität über $200M zur Finanzierung von 5–6 neuen Flughafenprojekten an.
- Revenue growth of 82% year-over-year and 18% quarter-over-quarter
- Improved operating cash use from $5M to $0.9M quarter-over-quarter
- Strong liquidity position of ~$75M
- Successful expansion with two new operational campuses and one nearing completion
- Pursuing $200M construction facility for further expansion
- Still operating with negative cash flow, though improving
Insights
Sky Harbour's 82% YoY revenue growth and expanding airport network signal strong operational momentum with potential path to cash flow breakeven.
Sky Harbour's Q2 results demonstrate impressive operational scaling with
The business model shows strong validation through successful pre-leasing activities at multiple airports, with rates exceeding internal targets at newer locations like Bradley International and Dulles. This validates both market demand and pricing power for Sky Harbour's private aviation infrastructure.
The portfolio expansion to nine operational campuses with more in development demonstrates effective execution of their growth strategy. The upcoming
The
Dallas, Texas--(Newsfile Corp. - August 13, 2025) - Sky Harbour Group Corp. (NYSE: SKYH): Stonegate Capital Partners updates their coverage on Sky Harbour Group Corp. (NYSE: SKYH). Sky Harbour maintained strong operational momentum in 2Q25, underpinned by campus openings, leasing activity, and construction progress across its growing nationwide network. During the quarter, the Company commenced operations at Dallas Addison (ADS) and Seattle Boeing Field (BFI) and prepared for the start of resident flight operations at Denver Centennial (APA) in early 3Q25. Miami Opa-Locka (OPF) Phase 2 broke ground in Q2, with completion targeted for 2Q26. The Company also advanced pre-development at multiple Tier 1 airport sites, including Dulles (IAD), Bradley International (BDL), and Portland-Hillsboro (HIO), and initiated a successful pilot program to pre-lease hangars at airports not yet under construction, securing early commitments at BDL and IAD. As of quarter-end, the portfolio included nine operational campuses, one nearing completion, and thirteen in various pre-development stages.
To view the full announcement, including downloadable images, bios, and more, click here.
Key Takeaways:
- Second quarter revenue rose
82% y/y and18% sequentially, with net operating cash use improving to$0.9M from$5M in Q1, supported by robust liquidity of ~$75M . - First leases executed at new Denver, Dallas, and Phoenix campuses; pre-leasing underway at BDL and IAD with above-target rates; nine airports now in active operations
- Company pursuing a
$200M five-year tax-exempt bank construction facility to fund 5-6 new airport projects, targeting breakeven run-rate operating cash flow by year-end.
Click image above to view full announcement.
About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.
Contacts:
Stonegate Capital Partners
(214) 987-4121
info@stonegateinc.com
Source: Stonegate, Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262418
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