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Sky Harbour Group Corporation filed an 8-K reporting two items: it furnished a press release and an investor presentation announcing financial results for the three and six months ended June 30, 2025, and it disclosed the departure of its Chief Operating Officer, Willard Whitesell. The company says the press release and presentation are furnished as Exhibits 99.1 and 99.2 and are summary information to be read with its SEC filings.
In connection with Mr. Whitesell's departure effective August 8, 2025, the company entered a Separation Agreement providing that all unvested restricted stock units (RSUs) will become fully vested as of the Separation Date and will be delivered in shares on a pro rata monthly basis under the original four-year vesting schedule. The filing states the departure was mutual and not due to any disagreement with the company.
Sky Harbour Group Corporation reported notable revenue growth in the quarter: $6.59 million for the three months ended June 30, 2025 versus $3.62 million a year earlier, and $12.18 million for the six months ended June 30, 2025 versus $6.02 million in 2024, driven by higher rental and fuel revenue. Despite rising revenues, operating losses persist: an operating loss of $7.53 million for the quarter and $14.35 million year-to-date, reflecting development costs, campus operating and personnel expenses.
Net income of $14.36 million for the quarter largely reflects a $21.80 million unrealized gain on warrant fair-value remeasurement rather than operating profitability. Balance sheet highlights include $568.1 million of total assets, $167.0 million total equity, $162.7 million of net bonds payable, and $175.4 million of operating lease liabilities. Cash and restricted cash totaled $32.11 million at June 30, 2025 after a $62.25 million decrease driven by construction and investment activity. Portfolio occupancy across operating campuses was 68.9% with 892,318 rentable square feet in operation.
Sky Harbour Group Corporation (NYSE American: SKYH) convened its 2025 Annual Meeting on 19 June 2025. Shareholders voted on two routine governance items:
- Election of Directors: All seven nominees—Tal Keinan, Walter Jackson, Alethia Nancoo, Alex B. Rozek, Lysa Leiponis, Nick Wellmon and Jordan Moelis—were re-elected to serve until the 2026 meeting. Support ranged from roughly 97.7 % to 99.9 % of votes cast, with broker non-votes totaling 4.14 million shares.
- Auditor Ratification: EisnerAmper LLP was ratified as independent registered public accounting firm for FY 2025 with 64.89 million “For” votes (≈99.99 %), only 5,115 “Against,” and 2,881 abstentions.
No additional business, financial results or strategic actions were disclosed. The filing confirms continuity in board composition and external audit oversight, signalling governance stability but does not introduce material financial impacts.
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