Financial Performance - Sky Harbour Group Corporation reported financial results for the three and nine months ended September 30, 2024, with a focus on revenue growth and operational performance[3]. - The financial results and strategic outlook are subject to the risks outlined in the company's Annual Report on Form 10-K for the year ended December 31, 2023[7]. - The company has not disclosed specific numerical performance metrics or guidance in the provided documents[5]. Investor Communication - The company provided an investor presentation detailing key metrics and strategic initiatives during the scheduled investor meeting[4]. - The press release and investor presentation are intended to supplement the company's filings with the SEC and provide a comprehensive overview of its financial condition[5]. - The press release and investor presentation are not considered "filed" under the Exchange Act or the Securities Act[6]. Forward-Looking Statements - Forward-looking statements were included, highlighting expectations and potential risks that may affect future performance[7]. - The company has no obligation to update or revise the information contained in the report unless deemed appropriate by management[5]. Company Classification - The company is classified as an emerging growth company under the Securities Act of 1933[3]. Management Signature - The report was signed by Tal Keinan, the Chief Executive Officer of Sky Harbour Group Corporation[9].

Business Operations and Market Demand - The company operates a nationwide network of home basing hangar campuses for business aircraft, targeting markets with high hangar demand [130]. - The U.S. business aviation fleet's cumulative square footage increased by 50% from 2010 to 2021, with an 81% increase in larger private jets [131]. - The company aims to develop hangar campuses on long-term ground leases at airports serving metropolitan centers across the U.S. [134]. - The projected total project cost for properties in development is estimated between $561 million and $626.8 million, with a total of 60 hangars planned [140]. - The company actively monitors key factors such as fuel prices and hangar rental rates that may impact demand for new leases [144]. Financial Performance - Rental revenue for the three months ended September 30, 2024, was approximately $4.1 million, a 64% increase from approximately $2.5 million in the same period of 2023, primarily due to new operations at SJC and increased occupancy at BNA and OPF campuses [167]. - Total revenue for the nine months ended September 30, 2024, was approximately $10.1 million, a $4.8 million, or 90%, increase compared to the same period in 2023, attributed to the commencement of operations at the SJC hangar campus [174]. - Total expenses for the three months ended September 30, 2024, were $8.96 million, compared to $5.90 million in 2023, reflecting an increase of $3.06 million [166]. - Operating expenses for the nine months ended September 30, 2024, increased by approximately $3.9 million, or 76%, primarily due to increased ground lease expenses [175]. - General and administrative expenses for the three months ended September 30, 2024, were $4.63 million, an increase from $3.56 million in 2023 [166]. Capital and Financing Activities - In October 2024, the company completed a private placement, raising approximately $37.6 million through the sale of 3,955,790 shares [143]. - The company entered into a 2024 Private Placement Purchase Agreement, raising an aggregate of $31.8 million from the initial closing [183]. - The company has access to a $100 million ATM Facility to fund long-term liquidity requirements [181]. - The company completed an issuance of $166.3 million in Senior Special Facility Revenue Bonds, with maturities ranging from 2036 to 2054, to finance various aviation facilities [191]. - The company plans to access the bond market opportunistically and may hedge against rising interest rates through strategies with high-quality counterparties [146]. Cash Flow and Liquidity - Cash and cash equivalents as of September 30, 2024, were $3.5 million, a significant decrease from $60.3 million as of December 31, 2023 [186]. - Restricted cash increased to $70.6 million as of September 30, 2024, compared to $12.0 million as of December 31, 2023 [186]. - Cash and restricted cash increased to $74.2 million as of September 30, 2024, compared to $36.8 million at the same time in 2023 [196]. - Net cash used in operating activities was approximately $6.6 million for the nine months ended September 30, 2024, an increase of $0.4 million compared to the same period in 2023 [198]. - Net cash provided by investing activities was approximately $8.4 million for the nine months ended September 30, 2024, compared to $2.1 million for the same period in 2023, driven by a significant increase in proceeds from available-for-sale investments [200]. Expenses and Cost Management - Ground lease expenses for the nine months ended September 30, 2024, were $6.0 million, up from $2.8 million in 2023, indicating a significant increase in operating lease expenses [145]. - The company expects to incur additional costs of $26 to $28 million for retrofitting hangar buildings due to significant design defects identified in independent peer reviews [151]. - General and administrative expenses for the nine months ended September 30, 2024, were approximately $14.1 million, reflecting a $3.3 million, or 30%, increase compared to the same period in 2023 [177]. - Operating expenses increased by approximately $2.0 million, or 120%, for the three months ended September 30, 2024, compared to the same period in 2023, primarily due to increased ground lease expenses [168]. - General and administrative expenses rose by approximately $1.0 million, or 30%, for the three months ended September 30, 2024, driven by increased salaries and corporate headcount [169]. Debt and Compliance - As of September 30, 2024, the company maintained a debt service coverage ratio of at least 1.25, in compliance with all debt covenants [193]. - Total lease payments due from 2024 to thereafter amount to $444.4 million for operating leases and $49,000 for finance leases [194]. - The company does not maintain any off-balance sheet arrangements, ensuring transparency in its financial obligations [196]. Growth Strategy - The company has funded SHC with over $200 million for initial phases at five airport locations and has the ability to include up to $50 million in new projects [153]. - The company plans to continue investing in its hangar campus development projects as part of its growth strategy [199].

Company Overview - Sky Harbour Group Corporation specializes in providing home basing solutions for private jets, engaging in ground leases at various airports in the United States and constructing hangars using pre-engineered metal buildings [2][3] - The company has a 51% ownership in RapidBuilt, which supplies the pre-engineered buildings for hangars [2] Financial Performance - In the second quarter, Sky Harbour Group's revenues more than doubled to $3.6 million, driven by higher occupancy rates and operational hangars, particularly in San Jose [3] - Operating expenses increased by $2.6 million, primarily due to more ground leases signed and associated costs, with a headcount increase contributing to higher costs as well [3] - Despite the operating loss widening, the company reported positive net income due to unrealized gains on warrants and interest income [3] Growth Potential - The company has added one hangar to its operational portfolio, maintaining a stable occupancy rate of 93.7%, with plans for six more hangars totaling over 260,000 square feet in development [4] - Revenue growth is anticipated as lease terms improve, allowing for higher prices per square foot upon renewal [4] Valuation and Risks - The company aims for $22.9 million in EBITDA for 2024, with the latest quarterly EBITDA reported at $4.99 million, suggesting a potential run rate of $20 million annually [5] - Valuation using the EV/EBITDA method indicates a modest upside of around 3%, with potential for 18% upside if EBITDA reaches $99 million [5][6] - Dilution risk exists, with a potential 70% pressure on shareholders if fully diluted, which could limit upside potential [6]

Sky Harbour Group Corporation (NYSE:SKYH) Q2 2024 Earnings Conference Call August 13, 2024 5:00 PM ET Company Participants Francisco Gonzalez - Chief Financial Officer Tal Keinan - Chairman & Chief Executive Officer Will Whitesell - Chief Accounting Officer Conference Call Participants Operator Good afternoon. My name is Regina, and I will be your conference operator today. At this time, I would like to welcome everyone to the Sky Harbour 2024 Second Quarter Earnings Call and Webinar. All lines have been pl ...

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) August 13, 2024 Sky Harbour Group Corporation (Exact name of registrant as specified in its charter) | --- | --- | |------------------------------------------------------------------|-------------------------| | Delaware 001-39648 | 85-2732947 | | (State or other jurisdiction (Commission | (IRS ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-39648 Sky Harbour Group Corporation (Exact name of registrant as specified in its Charter) Delaware 85-2732947 ...

Sky Harbour Group Corporation (NYSE:SKYH) Q1 2024 Results Conference Call May 14, 2024 5:00 PM ET Company Participants Francisco Gonzalez - Chief Financial Officer Tal Keinan - CEO and Chairman Will Whitesell - COO Operator Good afternoon. My name is John, and I will be your conference operator for today. At this time, I would like to welcome everyone to the Sky Harbour 2024 First Quarter Earnings Call and Webinar. All lines have been placed on mute to prevent any background noise. After the speaker's remar ...

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) May 14, 2024 Sky Harbour Group Corporation (Exact name of registrant as specified in its charter) | Delaware | 001-39648 | 85-2732947 | | --- | --- | --- | | (State or other jurisdiction | (Commission | (IRS Employer | | of incorporation) | File Number) | Identification No.) | 136 Tower Road, Su ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-39648 Sky Harbour Group Corporation (Exact name of registrant as specified in its Charter) Delaware 85-273294 ...

Sky Harbour Group Corporation (NYSE:SKYH) Q4 2023 Earnings Conference Call March 27, 2024 5:00 PM ET Company Participants Francisco Gonzalez - Chief Financial Officer Tal Keinan - CEO and Chairman Mike Schmitt - Chief Accounting Officer Tim Herr - Treasurer Tori Petro - Accounting Manager Will Whitesell - COO Operator Good afternoon. My name is Krista, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Sky Harbour 2023 Year End Earnings Conference Call and Webi ...