AerSale Q3 loss widens to $15M as revenue rises

Quarterly net loss included a $13.4 million non-cash goodwill impairment; a $35 million Boeing 737 sale is expected to close before year-end.

Available on EDGAR 11/05/2026 - 04:19 PM EST Accepted by SEC EDGAR 11/05/2026 - 04:18 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

AerSale Corporation (ASLE) reported third-quarter 2026 revenue of $91.6 million, up 28.6% from $71.2 million a year earlier and from $70.9 million in Q2 2026. Leasing, used serviceable material sales, heavy MRO and AerSafe demand contributed; Flight Equipment sales were $9.3 million versus $0.4 million. Adjusted EBITDA was $8.6 million, down 9.7% from $9.5 million, and gross margin was 22.5% versus 30.2%. Net loss was $15.0 million, including a $13.4 million non-cash goodwill impairment, compared with a $0.1 million loss.

At September 30, five of seven B757 freighters were on lease, alongside 18 engines. AerSale had $23.1 million of liquidity: $3.9 million in cash and $19.2 million available under its revolving credit facility. Nine-month operating cash use was $42.7 million versus $34.3 million a year earlier. A $35 million Boeing 737 sale to the U.S. Marshals Service and engine transactions were expected to close before year-end; management expected a significantly stronger fourth quarter.

1 point · 0 major

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Positive

• Moderate pointThird-quarter revenue increased 28.6% to $91.6 million.

Negative

• Moderate pointAdjusted EBITDA declined 9.7% to $8.6 million.
• Moderate pointThird-quarter net loss was $15.0 million, including $13.4 million in non-cash goodwill impairment.
• Moderate pointNine-month operating cash use reached $42.7 million, versus $34.3 million a year earlier.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Revenue: $91.6 million Adjusted EBITDA: $8.6 million Net loss: $15.0 million +4 more

7 metrics

Revenue $91.6 million Third quarter 2026; 28.6% increase from the third quarter of 2025

Adjusted EBITDA $8.6 million Third quarter 2026; 9.7% decrease from the third quarter of 2025

Net loss $15.0 million Third quarter 2026; includes a $13.4 million non-cash goodwill impairment

Gross margin 22.5% Third quarter 2026, compared with 30.2% in the third quarter of 2025

Operating cash used $42.7 million Nine months ended September 30, 2026, compared with $34.3 million in the prior-year period

Liquidity $23.1 million At September 30, 2026

Boeing 737 sale $35 million Sale to the U.S. Marshals Service expected to close before year-end

Key Terms

Adjusted EBITDA, goodwill impairment, used serviceable material (USM), feedstock acquisitions, +1 more

5 terms

Adjusted EBITDA financial

"Adjusted EBITDA in the third quarter of 2026 was $8.6 million"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

goodwill impairment financial

"a $13.4 million non-cash goodwill impairment charge"

Goodwill impairment occurs when a company’s valued reputation or brand strength, known as goodwill, is found to be worth less than previously recorded on its financial statements. This usually happens when the company's performance declines or market conditions change, signaling that the expected benefits from acquisitions or brand value are no longer as strong. It matters to investors because it can indicate that a company's assets are less valuable than initially thought, potentially affecting its overall financial health.

used serviceable material (USM) technical

"used serviceable material (USM) sales"

Pre-owned components or materials that have been inspected, tested, and certified as safe and functional for continued use; think of them as certified, recycled parts that pass quality checks before being reinstalled. Investors should care because relying on used serviceable material can lower replacement costs and improve margins, but it also affects regulatory compliance, warranty exposure and perceived reliability—factors that influence operating expenses, risk profile and long-term asset value.

feedstock acquisitions technical

"Feedstock acquisitions were $7.1 million"

Airworthiness Directive regulatory

"fuel tank flammability Airworthiness Directive"

An airworthiness directive is an official safety order issued by aviation regulators requiring specific inspections, repairs, or changes to an aircraft, engine, or component to address a known safety problem. For investors it matters because compliance can force airlines or manufacturers to take planes out of service, incur repair costs, delay deliveries, or face legal risk—similar to a consumer-product recall that affects production, revenue and reputation.

Earnings Snapshot

Revenue: $91.6 million · Guidance included

Third quarter 2026

Revenue $91.6 million 28.6% increase from $71.2 million in the third quarter of 2025

Net loss $15.0 million loss Compared with a $0.1 million loss in the third quarter of 2025

Adjusted EBITDA $8.6 million 9.7% decrease from $9.5 million in the third quarter of 2025

Gross margin 22.5% Compared with 30.2% in the third quarter of 2025

Guidance

Management expected a significantly stronger fourth quarter, with the $35 million Boeing 737 sale and engine transactions expected to close before year-end.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much revenue did ASLE report in the third quarter of 2026?

AerSale reported $91.6 million of revenue, a 28.6% increase from $71.2 million in the third quarter of 2025. Revenue was also up from $70.9 million in the second quarter of 2026. The company attributed growth to leasing, USM sales, heavy MRO, AerSafe demand and Flight Equipment sales.

What was ASLE's third-quarter 2026 net loss?

ASLE reported a $15.0 million net loss in Q3 2026, including a $13.4 million non-cash goodwill impairment, compared with a $0.1 million loss a year earlier. Adjusted net loss was $1.1 million, versus adjusted net income of $1.5 million in Q3 2025.

What was AerSale's liquidity at September 30, 2026?

AerSale reported $23.1 million of liquidity at September 30, 2026, consisting of $3.9 million in cash and cash equivalents and $19.2 million of available capacity on its $180 million revolving credit facility. The facility may expand to $200 million, subject to conditions, lender commitments and borrowing base availability.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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0001754170false00017541702026-11-052026-11-05

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​

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

​

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

​

Date of Report (date of earliest event reported): November 5, 2026

​

AerSale Corporation

(Exact name of registrant as specified in its charter)

​

Texas	001-38801	84-3976002
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

​

9850 NW 41^st Street, Suite 400

Doral, FL 33178

​

(Address of principal executive offices) (Zip Code)

​

Registrant’s telephone number, including area code:

(305) 764-3200

​

Not Applicable

(Former name or former address, if changed since last report)

​

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrants under any of the following provisions:

​

	☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
​	☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
​	☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
​	☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

​

Securities registered pursuant to Section 12(b) of the Act:

​

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.0001 per share	ASLE	The Nasdaq Capital Market
​	​	​

​

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

​

Emerging growth company  ☐

​

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

​

​

​

Item 2.02. Results of Operations and Financial Condition.

​

On November 5, 2026, AerSale Corporation (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended September 30, 2026. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

​

The information furnished in this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, except as expressly set forth by specific reference in such a filing.

​

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

​

Exhibit No.	Description
99.1	Press Release of AerSale Corporation, dated November 5, 2026.
​	​
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

​

​

​

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

​

	​	​
	AERSALE CORPORATION
	​	​
	​	​
	​	​
Date: November 5, 2026	By:	/s/ Paul A. Hechenberger
	Name:	Paul A. Hechenberger
	Title:	SVP, General Counsel & Corporate Secretary

​

​

Exhibit 99.1

​

AerSale Reports Third Quarter 2026 Results

​

Third Quarter 2026 Highlights

● Revenue of $91.6 million versus $71.2 million in the prior year period

● Net loss of $15.0 million, which includes a $13.4 million non-cash goodwill impairment charge, versus a net loss of $0.1 million in the prior year period

● Adjusted net loss¹ of $1.1 million versus adjusted net income¹ of $1.5 million in the prior year period

● Adjusted EBITDA¹ of $8.6 million versus $9.5 million in the prior year period

● Feedstock acquisitions of $7.1 million versus $13.7 million in the prior year period

● Inventory of $334.1 million as of September 30, 2026

● Aircraft and engines held for lease² of $165.9 million

MIAMI, Florida, November 5, 2026 (GLOBE NEWSWIRE) – AerSale Corporation (Nasdaq: ASLE) (“AerSale” or the “Company”) today reported third quarter 2026 financial results.

​

Third Quarter 2026 Financial Results:

​

During the third quarter of 2026, we continued to focus on our strategic initiatives of monetizing our asset base, scaling our Maintenance, Repair, and Overhaul (“MRO”) operations, and growing recurring revenue streams of our business. Revenue and adjusted EBITDA improved sequentially from the second quarter. Flight Equipment sales in the quarter consisted of one whole engine. The sale of a Boeing 737 aircraft and additional engines previously expected to occur in the third quarter are now expected to close in the fourth quarter.  

​

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	(in thousands, except per-share amount)
​	​	(Unaudited)
​	​	Three Months Ended September 30,								​	Nine Months Ended September 30,
​	​ ​ ​	2026		​ ​ ​	2025		​ ​ ​	Percent Change		​	2026		​ ​ ​	2025		​ ​ ​	Percent Change
Asset Management Solutions	​	$	50,547	​	$	39,201	​	28.9	%	​	$	130,814	​	$	154,679	​	(15.4)	%
Technical Operations	​	​	41,009	​	​	31,990	​	28.2	%	​	​	102,288	​	​	89,670	​	14.1	%
Total revenue	​	$	91,556	​	$	71,191	​	28.6	%	​	$	233,102	​	$	244,349	​	(4.6)	%
Net (loss) income	​	​	(15,028)	​	​	(120)	​	(12,423.3)	%	​	​	(24,048)	​	​	3,178	​	(856.7)	%
Adjusted net (loss) income (1)	​	​	(1,106)	​	​	1,525	​	(172.5)	%	​	​	(5,292)	​	​	8,297	​	(163.8)	%
Adjusted EBITDA (1)	​	​	8,559	​	​	9,479	​	(9.7)	%	​	​	18,130	​	​	30,924	​	(41.4)	%
Diluted (loss) earnings per share	​	​	(0.31)	​	​	(0.00)	​	NM	​	​	​	(0.51)	​	​	0.06	​	(950.0)	%
Adjusted diluted (loss) earnings per share (1)	​	​	(0.02)	​	​	0.04	​	(150.0)	%	​	​	(0.11)	​	​	0.16	​	(168.8)	%
Feedstock acquisitions	​	$	7,127	​	$	13,670	​	(47.9)	%	​	$	37,766	​	$	84,219	​	(55.2)	%

​

The Company’s revenue for the third quarter of 2026 was $91.6 million, representing a 28.6% increase compared to $71.2 million in the third quarter of 2025 and an increase from $70.9 million in the second quarter of 2026. Growth was driven by leasing, used serviceable material (“USM”) sales, heavy MRO, strong commercial demand for the Company’s AerSafe® product, as well as $9.3 million of Flight Equipment sales, compared with $0.4 million in the prior-year period.

​

Adjusted EBITDA¹ in the third quarter of 2026 was $8.6 million, or 9.3% of total revenue, compared to $9.5 million, or 13.3% of total revenue, in the comparable prior year period. Excluding Flight Equipment sales, revenue grew 16.2% to $82.3 million in the third quarter of 2026 compared to the prior-year period, with gains in leasing, USM, heavy MRO, and Engineered Solutions. We expect continued improvement in adjusted EBITDA as the ramp-up costs of new programs designed to deliver higher profitability and recurring revenue are expected to diminish over time.

​

We encourage investors to evaluate performance across multiple quarters and through the more recurring parts of our business: leasing, USM and MRO.

​

Nicolas Finazzo, Chief Executive Officer at AerSale, stated, “The initiatives we have undertaken since early 2025 to make inventory and Flight Assets ready for sale or lease, optimize our sales force, invest in technology, and complete major facilities expansion projects, are taking hold. As such, our third quarter operational results improved meaningfully

​

over the second quarter. Five of our seven 757 freighters are now on lease. We are using advanced analytics to strengthen USM sales by rapidly identifying the most cost-efficient way to make USM ready for sale. In TechOps, we have similarly created advanced analytics that have identified the factors affecting output and profitability at Millington, Goodyear, and our Component MRO shops, which should improve the efficiency of our workforce and increase utilization of our available capacity.”

​

Mr. Finazzo continued, “We enter the fourth quarter with a well-defined Flight Equipment pipeline expected to close before year end. We have commitments for a $35 million sale of a Boeing 737 aircraft to the U.S. Marshals Service, and other customers for engines now in the final stages of restoration. Together with our expanded lease portfolio and a clear path to monetizing the inventory we have built, we expect a significantly stronger fourth quarter.”

​

Asset Management Solutions Segment (“AMS”) revenue increased 28.9% to $50.5 million in the third quarter of 2026 compared to $39.2 million in the third quarter of 2025. Excluding Flight Equipment sales, AMS revenue grew 6.4% to $41.3 million from $38.8 million in the prior year, driven by higher leasing and USM revenue. Leasing revenue grew on the strength of an expanded B757 freighter lease portfolio. USM revenue also increased with volumes building throughout the quarter as the Company continued to monetize existing inventory. Feedstock acquisitions were $7.1 million for the third quarter and $37.8 million year to date, compared with $84.2 million in the prior year to date period, reflecting our disciplined approach to pricing in a competitive sellers’ market. The Company was awarded seven A330 airframes, which meet our return requirements, with the first airframe anticipated to close in the coming weeks. As of September 30, 2026, the Company had 18 engines and five B757 freighter aircraft on lease, compared with 18 engines and three B757 freighter aircraft on lease as of June 30, 2026. We are advancing identified opportunities for our remaining two B757 freighters and are working closely with our engine MRO partners to finalize engines currently in repair.

​

Technical Operations Segment (“TechOps”) revenue increased 28.2% to $41.0 million in the third quarter of 2026 compared with $32.0 million in the third quarter of 2025. Heavy MRO revenue grew as Millington ramped up, generating revenue from two check lines awarded by a regional carrier, compared with none in the prior year. Goodyear revenue was in line with the prior year, and anticipated incremental maintenance has already begun in the fourth quarter.  Roswell performed ahead of plan on storage and fixed-price check work. Component MRO revenue was flat year over year. We have significantly optimized our management and sales organization to market our diverse service and product offerings with a full-service approach and an emphasis on cross selling, which we expect to improve performance in 2027. Engineered Solutions revenue increased over the prior year, driven by AerSafe® kit deliveries as operators must comply with the fuel tank flammability Airworthiness Directive.      

​

Gross margin was 22.5% for the third quarter of 2026, compared with 30.2% in the same period last year. TechOps gross margin was 12.5%, compared with 25.3% in the prior-year period. AMS gross margin was 30.5%, compared with 34.1% in the same period last year. As recently deployed B757 freighters continue to be integrated into operations, the Company expects leasing margins to improve as 757 utilization increases and additional engines are placed on lease.

​

Selling, general, and administrative expenses were $18.8 million in the third quarter of 2026, compared to $18.6 million in the third quarter of 2025. SG&A included $0.5 million of share-based compensation expense versus $1.3 million in the prior-year period.

​

Loss from operations was $11.6 million in the third quarter of 2026, which includes a $13.4 million non-cash goodwill impairment charge, compared with income from operations of $2.9 million in the third quarter of 2025.

​

Income tax expense was $0.7 million in both the third quarter of 2026 and 2025. The Company’s effective tax rate was negative 4.8% in the third quarter of 2026.

​

Net loss for the third quarter of 2026 was $15.0 million, which includes a non-cash goodwill impairment charge of $13.4 million, compared to a net loss of $0.1 million in the prior-year period. Excluding the goodwill impairment charge, share-based compensation expense, and other adjusting items³, adjusted net loss¹ was $1.1 million compared with adjusted net income¹ of $1.5 million in the third quarter of 2025.

​

​

​

Diluted loss per share was $0.31 for the third quarter of 2026 compared to $0.00 in the third quarter of 2025. Adjusted for the items noted above, adjusted diluted loss per share¹ was $0.02 for the third quarter of 2026, compared to adjusted diluted earnings per share¹ of $0.04 in the prior-year period.

​

AerSale ended the quarter with liquidity of $23.1 million consisting of $3.9 million in cash and cash equivalents and $19.2 million of available capacity on its $180 million revolving credit facility, expandable to $200 million, subject to conditions and the availability of lender commitments and borrowing base availability. Year-to-date cash used in operating activities of $42.7 million primarily reflects continued investment in inventory through feedstock acquisitions and capitalized repair costs to ready Flight Equipment for lease or sale. The Flight Equipment transactions scheduled for the fourth quarter are expected to improve available liquidity.

​

Conference Call Information

​

The Company will host a conference call with Nicolas Finazzo, Chief Executive Officer, and Martin Garmendia, Chief Financial Officer, on Thursday, November 5, 2026, at 4:30 pm Eastern Time to discuss its third quarter financial results. A live audio webcast will be available to the public on a listen-only basis at https://ir.aersale.com/news-events/events. An archived replay of the webcast will also be available on the Investors portion of the AerSale website at https://ir.aersale.com/ for one year.

​

Non-GAAP Financial Measures

​

This press release includes non-GAAP financial measures, including adjusted EBITDA, adjusted net income (loss), and adjusted diluted earnings (loss) per share. Adjusted net income (loss) is defined as net income (loss) excluding mark-to-market adjustments relating to our private warrants, share-based compensation expense, inventory write-offs, goodwill impairment, and other non-cash, non-recurring, or unusual items. AerSale defines adjusted EBITDA as adjusted net income (loss) excluding interest expense, net, depreciation and amortization, income tax (expense) benefit, and other non-cash, non-recurring, or unusual items. Adjusted diluted earnings (loss) per share is adjusted net income (loss) divided by the diluted weighted average number of shares outstanding during the measurement period.

​

AerSale believes these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to AerSale’s financial condition and results of operations. AerSale’s management uses certain of these non-GAAP measures to compare AerSale’s performance to that of prior periods for trend analyses and for budgeting and planning purposes. These non-GAAP measures should not be construed as an alternative to net income (loss), net income (loss) per diluted share or net income (loss) margin as an indicator of operating performance or as an alternative to cash flow provided by operating activities as a measure of liquidity (each as determined in accordance with GAAP).

​

You should review AerSale’s financial statements and not rely on any single financial measure to evaluate AerSale’s business. Other companies may calculate adjusted EBITDA, adjusted net income (loss), or adjusted diluted earnings (loss) per share differently, and therefore AerSale’s adjusted EBITDA, adjusted net income (loss), and adjusted diluted earnings (loss) per share measures may not be directly comparable to similarly titled measures of other companies.

​

Reconciliations of net income (loss) and diluted earnings (loss) per share, the Company’s closest GAAP measures, to adjusted EBITDA, adjusted net income (loss), and adjusted diluted earnings (loss) per share, are outlined in the tables below following the Company’s condensed consolidated financial statements.

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​

End Notes

​

⁽¹⁾ Adjusted net income (loss), adjusted EBITDA and adjusted diluted (loss) earnings per share are non-GAAP measures. See “Non-GAAP Financial Measures” above and “Adjusted EBITDA, Adjusted Net (Loss) Income and Adjusted Diluted (Loss) Earnings Per Share Reconciliation Table” at the end of this press release for a discussion of why we believe these non-GAAP measures are useful together with a detailed reconciliation of these measures to their most directly comparable GAAP (Generally Accepted Accounting Principles) measures.

​

​

​

⁽²⁾ Aircraft and engines held for lease refers to the financial statement line item Aircraft and engines held for lease, net within the Condensed Consolidated Balance Sheet, which is comprised of the cost of the assets net of accumulated depreciation.

​

⁽³⁾ During the prior year period there were also adjustments for change in warrant liability, payroll taxes related to share-based compensation, facility relocation costs, and restructuring costs.

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​

​

​

Third Quarter 2026 Financial Results

​

AERSALE CORPORATION AND SUBSIDIARIES

Condensed Consolidated Statements of Operations

(in thousands, except share and per share data)

(Unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended September 30,

​

Nine Months Ended September 30,

​

​ ​ ​

2026

​ ​ ​

2025

​

2026

​ ​ ​

2025

Revenue:

​

​

​

​

​

​

​

​

​

​

​

​

Products

​

$

54,545

​

$

36,968

​

$

121,932

​

$

148,679

Leasing

​

10,420

​

9,403

​

34,628

​

25,135

Services

​

26,591

​

24,820

​

76,542

​

70,535

Total revenue

​

91,556

​

71,191

​

233,102

​

244,349

Cost of sales and operating expenses:

​

​

​

​

​

​

​

​

​

​

​

​

Cost of products

​

39,330

​

27,295

​

87,826

​

105,564

Cost of leasing

​

4,248

​

2,849

​

12,941

​

8,508

Cost of services

​

27,420

​

19,561

​

76,622

​

55,489

Total cost of sales

​

70,998

​

49,705

​

177,389

​

169,561

Gross profit

​

20,558

​

21,486

​

55,713

​

74,788

Selling, general and administrative expenses

​

18,778

​

18,613

​

62,015

​

66,048

Goodwill impairment

​

​

13,416

​

-

​

13,416

​

-

(Loss) income from operations

​

(11,636)

​

2,873

​

(19,718)

​

8,740

Other (expense) income:

​

​

​

​

​

​

​

​

Interest expense, net

​

(2,766)

​

(2,367)

​

(7,347)

​

(6,000)

Other income, net

​

​

62

​

​

128

​

​

1,071

​

​

2,150

Change in fair value of warrant liability

​

​

-

​

​

(21)

​

​

-

​

​

53

Total other expense, net

​

(2,704)

​

(2,260)

​

(6,276)

​

(3,797)

(Loss) income before income tax provision

​

(14,340)

​

613

​

(25,994)

​

4,943

Income tax (expense) benefit

​

(688)

​

(733)

​

1,946

​

(1,765)

Net (loss) income

​

$

(15,028)

​

$

(120)

​

$

(24,048)

​

$

3,178

​

​

​

​

​

​

​

​

​

​

​

​

​

(Loss) earnings per share:

​

​

​

​

​

​

​

​

​

​

​

​

Basic

​

$

(0.31)

​

$

(0.00)

​

$

(0.51)

​

$

0.07

Diluted

​

$

(0.31)

​

$

(0.00)

​

$

(0.51)

​

$

0.06

Weighted average shares outstanding:

​

​

​

​

​

​

​

​

​

​

​

​

Basic

​

​

47,725,030

​

​

47,180,634

​

​

47,440,357

​

​

48,779,067

Diluted

​

​

47,725,030

​

​

47,180,634

​

​

47,440,357

​

​

49,056,561

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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​

​

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​

AERSALE CORPORATION AND SUBSIDIARIES

Condensed Consolidated Balance Sheet

(in thousands, except share data)

(Unaudited)

​

​	​	​	​	​	​	​
​	​ ​ ​	September 30,		​ ​ ​	December 31,
​	​	2026		​	2025
Current assets:	​	​	​	​	​	​
Cash and cash equivalents	​	$	3,866	​	$	4,379
Accounts receivable, net of allowance for credit losses of $1,098 and $1,173 as of September 30, 2026 and December 31, 2025, respectively	​		50,970	​		42,654
Income tax receivable	​	​	1,302	​	​	1,728
Inventory:	​	​	​	​	​	​
Aircraft, airframes, engines, and parts	​		222,938	​		205,379
Advance vendor payments	​		10,885	​		5,679
Deposits, prepaid expenses, and other current assets	​		14,834	​		9,170
Total current assets	​		304,795	​		268,989
Fixed assets:	​	​	​	​		​
Aircraft and engines held for lease, net	​		165,912	​		102,361
Property and equipment, net	​		32,086	​		32,006
Inventory:	​	​	​	​		​
Aircraft, airframes, engines, and parts	​		111,210	​		158,385
Operating lease right-of-use assets	​	​	26,499	​		30,130
Deferred income taxes	​		9,713	​		8,784
Deferred financing costs, net	​		724	​		1,024
Other assets	​		587	​		586
Goodwill	​		6,444	​		19,860
Other intangible assets, net	​		16,721	​		18,347
Total assets	​	$	674,691	​	$	640,472
​	​	​	​	​	​	​
Current liabilities:	​	​	​	​		​
Accounts payable	​	$	32,149	​	$	29,645
Accrued expenses	​		9,372	​		7,233
Income tax payable	​		-	​		329
Lessee and customer purchase deposits	​		1,735	​		780
Current operating lease liabilities	​	​	3,759	​	​	4,313
Current portion of long-term debt	​	​	2,260	​	​	993
Deferred revenue	​		2,348	​		530
Deferred insurance proceeds	​	​	28,610	​	​	28,610
Total current liabilities	​		80,233	​		72,433
Revolving credit facility	​	​	158,675	​		110,053
Long-term debt	​	​	590	​		1,284
Long-term lease deposits	​	​	4,447	​	​	3,492
Long-term operating lease liabilities	​	​	25,145	​	​	28,190
Maintenance deposit payments and other liabilities	​		1,460	​		589
Total liabilities	​	​	270,550	​	​	216,041
Stockholders’ equity:	​	​	​	​		​
Common stock, $0.0001 par value. Authorized 200,000,000 shares; issued and outstanding 47,730,257 and 47,221,513 shares as of September 30, 2026 and December 31, 2025, respectively	​		5	​		5
Additional paid-in capital	​		280,487	​		276,729
Retained earnings	​		123,649	​		147,697
Total stockholders' equity	​		404,141	​		424,431
Total liabilities and stockholders’ equity	​	$	674,691	​	$	640,472

​

​

​

​

​

​

​

​

AERSALE CORPORATION AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows

(in thousands)

(Unaudited)

​

​

​	​	​	​	​	​	​
​	​ ​ ​	Nine Months Ended September 30,
​	​	2026		​ ​ ​	2025
Cash flows from operating activities:	​	​	​	​	​	​
Net (loss) income	​	$	(24,048)	​	$	3,178
Adjustments to reconcile net (loss) income to net cash used in operating activities	​	​	​	​	​	​
Depreciation and amortization	​		17,990	​		14,237
Amortization of debt issuance costs	​		300	​		292
Amortization of operating lease assets	​	​	32	​		215
Inventory reserve	​		4,216	​		2,580
Deferred income taxes	​		(929)	​		1,738
Change in fair value of warrant liability	​	​	-	​	​	(53)
Share-based compensation	​	​	3,626	​	​	3,125
Goodwill impairment	​	​	13,416	​	​	-
Changes in operating assets and liabilities:	​		​	​		​
Accounts receivable	​		(8,316)	​		(8,968)
Income tax receivable	​	​	426	​	​	951
Inventory	​		(47,369)	​		(50,291)
Deposits, prepaid expenses, and other current assets	​		(5,664)	​		(305)
Other assets	​		(1)	​		8
Advance vendor payments	​		(5,206)	​		615
Accounts payable	​		2,504	​		(3,050)
Income tax payable	​	​	(329)	​		-
Accrued expenses	​		2,071	​		(694)
Deferred revenue	​		1,818	​		(874)
Lessee and customer purchase deposits	​		1,910	​		(1,029)
Deferred insurance proceeds	​	​	-	​	​	3,700
Other liabilities	​		859	​		292
Net cash used in operating activities	​		(42,694)	​		(34,333)
Cash flows from investing activities:	​		​	​		​
Proceeds from sale of assets	​		-	​		1,750
Acquisition of aircraft and engines held for lease, including capitalized costs	​		(3,441)	​		(2,678)
Purchase of property and equipment	​		(3,705)	​		(4,494)
Net cash used in investing activities	​		(7,146)	​		(5,422)
Cash flows from financing activities:	​		​	​		​
Proceeds from long-term debt	​	​	1,267	​		1,174
Repayments of long-term debt	​		(694)	​		(462)
Proceeds from revolving credit facility	​		153,322	​		256,469
Repayments of revolving credit facility	​		(104,700)	​		(171,900)
Payments of debt issuance costs	​	​	-	​	​	(115)
Purchase of treasury stock	​	​	-	​		(45,000)
Proceeds from the issuance of Employee Stock Purchase Plan shares	​	​	137	​	​	195
Taxes paid related to net share settlement of equity awards	​	​	(5)	​	​	(37)
Net cash provided by financing activities	​		49,327	​		40,324
​	​	​	​	​	​	​
(Decrease) increase in cash and cash equivalents	​		(513)	​		569
Cash and cash equivalents, beginning of period	​		4,379	​		4,698
Cash and cash equivalents, end of period	​	$	3,866	​	$	5,267
​	​	​	​	​	​	​
Supplemental disclosure of cash activities	​		​	​		​
Income tax refunds, net	​	$	(356)	​	$	(725)
Interest paid	​	$	7,209	​	$	5,762
Supplemental disclosure of noncash investing activities	​	​	​	​	​	​
Reclassification of inventory to equipment held for lease, net	​	$	72,769	​	$	27,189
Reclassification of inventory to property and equipment, net	​	$	-	​	$	3,417
Reclassification of equipment held for lease, net from property and equipment, net	​	$	-	​	$	(8,773)
​	​	​	​	​	​	​

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​

​

​

​

​

​

​

AERSALE CORPORATION AND SUBSIDIARIES

Adjusted EBITDA, Adjusted Net (Loss) Income and Adjusted Diluted (Loss) Earnings Per Share Reconciliation Table

(in thousands, except per and percentage share data)

(Unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended September 30,

​

​

Nine Months Ended September 30,

​

​ ​ ​

​

​

​ ​ ​

% of Total

​ ​ ​

​

​

​

% of Total

​

​ ​ ​

​

​

​ ​ ​

% of Total

​ ​ ​

​

​

​ ​ ​

% of Total

​

​ ​ ​

2026

​ ​ ​

Revenue

​ ​ ​

2025

​ ​ ​

Revenue

​

​ ​ ​

2026

​ ​ ​

Revenue

​ ​ ​

2025

​ ​ ​

Revenue

Reported net (loss) income

​

$

(15,028)

​

(16.4)

%

​

$

(120)

​

(0.2)

%

​

​

$

(24,048)

​

(10.3)

%

​

$

3,178

​

1.3

%

Addbacks:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Change in fair value of warrant liability

​

​

-

​

-

%

​

​

21

​

0.0

%

​

​

​

-

​

-

%

​

​

(53)

​

(0.0)

%

Share-based compensation

​

​

506

​

0.6

%

​

​

1,297

​

1.8

%

​

​

​

3,626

​

1.6

%

​

​

3,125

​

1.3

%

Payroll taxes related to share-based compensation

​

​

-

​

-

%

​

​

48

​

0.1

%

​

​

​

-

​

-

%

​

​

66

​

0.0

%

Inventory write-off

​

​

-

​

-

%

​

​

-

​

-

%

​

​

​

1,615

​

0.7

%

​

​

-

​

-

%

Goodwill impairment (2)

​

​

13,416

​

14.7

%

​

​

-

​

-

%

​

​

​

13,416

​

5.8

%

​

​

-

​

-

%

Facility relocation costs

​

​

-

​

-

%

​

​

367

​

0.5

%

​

​

​

130

​

0.1

%

​

​

1,134

​

0.5

%

Restructuring costs

​

​

-

​

-

%

​

​

-

​

-

%

​

​

​

-

​

-

%

​

​

1,072

​

0.4

%

Legal settlement

​

​

-

​

-

%

​

​

-

​

-

%

​

​

​

-

​

-

%

​

​

400

​

0.2

%

Income tax effect of adjusting items (1)

​

​

-

​

-

%

​

​

(88)

​

(0.1)

%

​

​

​

(31)

​

(0.0)

%

​

​

(625)

​

(0.3)

%

Adjusted net (loss) income

​

$

(1,106)

​

(1.2)

%

​

$

1,525

​

2.1

%

​

​

$

(5,292)

​

(2.3)

%

​

$

8,297

​

3.4

%

Interest expense, net

​

​

2,766

​

3.0

%

​

​

2,367

​

3.3

%

​

​

​

7,347

​

3.2

%

​

​

6,000

​

2.5

%

Income tax expense (benefit)

​

​

688

​

0.8

%

​

​

733

​

1.0

%

​

​

​

(1,946)

​

(0.8)

%

​

​

1,765

​

0.7

%

Depreciation and amortization

​

​

6,211

​

6.8

%

​

​

4,766

​

6.7

%

​

​

​

17,990

​

7.7

%

​

​

14,237

​

5.8

%

Reversal of income tax effect of adjusting items (1)

​

​

-

​

-

%

​

​

88

​

0.1

%

​

​

​

31

​

0.0

%

​

​

625

​

0.3

%

Adjusted EBITDA

​

$

8,559

​

9.3

%

​

$

9,479

​

13.3

%

​

​

$

18,130

​

7.8

%

​

$

30,924

​

12.7

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Reported diluted (loss) earnings per share

​

$

(0.31)

​

​

​

​

$

(0.00)

​

​

​

​

​

$

(0.51)

​

​

​

​

$

0.06

​

​

​

Addbacks:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Change in fair value of warrant liability

​

​

-

​

​

​

​

​

0.00

​

​

​

​

​

​

-

​

​

​

​

​

(0.00)

​

​

​

Share-based compensation

​

​

0.01

​

​

​

​

​

0.03

​

​

​

​

​

​

0.08

​

​

​

​

​

0.06

​

​

​

Payroll taxes related to share-based compensation

​

​

-

​

​

​

​

​

0.00

​

​

​

​

​

​

-

​

​

​

​

​

0.00

​

​

​

Inventory write-off

​

​

-

​

​

​

​

​

-

​

​

​

​

​

​

0.03

​

​

​

​

​

-

​

​

​

Goodwill impairment (2)

​

​

0.28

​

​

​

​

​

-

​

​

​

​

​

​

0.28

​

​

​

​

​

-

​

​

​

Facility relocation costs

​

​

-

​

​

​

​

​

0.01

​

​

​

​

​

​

0.00

​

​

​

​

​

0.02

​

​

​

Restructuring costs

​

​

-

​

​

​

​

​

-

​

​

​

​

​

​

-

​

​

​

​

​

0.02

​

​

​

Legal settlement

​

​

-

​

​

​

​

​

-

​

​

​

​

​

​

-

​

​

​

​

​

0.01

​

​

​

Income tax effect of adjusting items

​

​

-

​

​

​

​

​

(0.00)

​

​

​

​

​

​

(0.00)

​

​

​

​

​

(0.01)

​

​

​

Adjusted diluted (loss) earnings per share

​

$

(0.02)

​

​

​

​

$

0.04

​

​

​

​

​

$

(0.11)

​

​

​

​

$

0.16

​

​

​

⁽¹⁾ The income tax effect of current period adjusting items is calculated at the Company's applicable statutory rate of 24% after considering federal and state tax rates.

⁽²⁾ Represents a noncash goodwill impairment charge recognized in the third quarter of 2026. See Note E – Intangible Assets, Net; included in our quarterly report on Form 10-Q for the quarter ended September 30, 2026.

​

​

​

​

​

​

​

​

​

​

​

Forward Looking Statements

This press release includes “forward-looking statements”. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of historical facts contained in this press release may constitute forward-looking statements, and include, but are not limited to, statements regarding our strategic initiatives and the expected results and benefits thereto; our anticipated financial and operating performance; the expected operating capacity of our MRO facilities and demand for such services; the timing of the expected Boeing 737 sale; and changes to our liquidity. AerSale’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” or the negative of these or other similar expressions are intended to identify such forward-looking statements. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. You should carefully consider the foregoing factors and the other risks and uncertainties described in the Risk Factors, Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC"), and its other filings with the SEC, including its subsequent quarterly reports on Form 10-Q. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Moreover, we operate in an evolving environment. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties.

Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we qualify all of our forward-looking statements by these cautionary statements. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.

About AerSale

​

AerSale is a global provider of integrated aviation aftermarket services and solutions, serving operators of Boeing, Airbus, and legacy McDonnell Douglas aircraft. The Company helps aircraft owners and operators optimize the value, safety, and operational efficiency of their fleets across the entire aircraft lifecycle.

​

AerSale’s comprehensive capabilities include aircraft and engine sales and leasing, used serviceable material (USM) sales, component and airframe MRO services, and FAA-certified engineered solutions. Through internally developed products such as AerSafe®, AerTrak®, and the AerAware™ Enhanced Flight Vision System, AerSale delivers innovative technologies that enhance aircraft performance, improve safety, and reduce operating costs.

With deep technical expertise and a fully integrated business model, AerSale provides everything customers need—through a single, trusted partner.

​

Media:

For more information about AerSale, please visit our website: www.AerSale.com.

Follow us on: LinkedIn | X | Facebook | Instagram

​

AerSale: Jackie Carlon

Telephone: (305) 764-3200

Email: media.relations@aersale.com

​

Investor:

AerSale: investorrelations@aersale.com

​

Source: AerSale Corporation

​

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EX-99.1 683.7 KB

Other Documents

• EX-101 EX-101.SCH 3.4 KB
• EX-101 EX-101.DEF 2.8 KB
• EX-101 EX-101.LAB 16.9 KB
• EX-101 EX-101.PRE 9.8 KB