Financial Data and Key Metrics Changes - As of the end of Q1 2025, assets under construction and completed construction reached over $275 million, driven by construction activities in Phoenix, Dallas, and Denver [7] - Revenues increased by 133% year-over-year and 20% sequentially, attributed to the acquisition of the Camarillo Campus [7] - Operating expenses increased moderately, with a notable rise in fuel expenses and startup costs due to increased headcount and full operations at the Camarillo Hangar Campus [10][12] Business Line Data and Key Metrics Changes - The financial results of Sky Harbor Capital, including Houston, Miami, and Nashville campuses, showed flat revenues in recent quarters, with expectations for significant increases in Q2, Q3, and Q4 as new campuses lease up [12] - Operating expenses rose due to onboarding personnel in anticipation of new campus operations [12] Market Data and Key Metrics Changes - The company is expanding its ground lease portfolio, with new leases in Seattle and Portland, and anticipates significant revenue growth from these locations [14][15] - The average rent per square foot has increased from $29.08 to $35.75, representing a 23% increase over the original estimate, with expectations of reaching $40.06 based on recent leases [17][18] Company Strategy and Development Direction - The company is focusing on vertical integration in construction to manage costs, improve build quality, and speed up project timelines [22][24] - The strategy includes a significant ramp-up in development activities, with plans for 23 campuses by the end of 2025 and 16 additional campuses in development [38][47] - The company aims to differentiate itself through a unique bundled real estate and service offering, targeting high-quality construction and operational efficiency [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving cash flow breakeven by the end of 2025 as new campuses ramp up leasing [8] - The company remains optimistic about demand in business aviation, with no significant impacts from macroeconomic uncertainties reported [90] - Management acknowledged concerns about potential competition but emphasized the strength of their site acquisition capabilities and integrated operational model as competitive advantages [60][62] Other Important Information - The company has approximately $97.5 million in cash and U.S. Treasuries, with a focus on short-term investments for future construction [30] - The company is preparing for a debt issuance of $150 million to $175 million to fund new projects, monitoring market conditions closely [56][99] Q&A Session Summary Question: Plans to raise debt this year - The company is preparing for a financing of $150 million to $175 million for upcoming projects, keeping an eye on market conditions [56][57] Question: Competition from operators replicating the model - Management expressed concern about new competition but believes their integrated model and site acquisition expertise provide a sustainable competitive advantage [60][62] Question: Expected interest rate and timing on financing - Interest rates for a bond deal are expected to be around 5.5%, with bank facilities potentially in the SOFR plus 200 area [99][100] Question: Nashville occupancy - Nashville occupancy is reported at 92%, with actual occupancy exceeding 100% due to the nature of semi-private hangars [92][94]

[Form 8-K Current Report](index=1&type=section&id=Form%208-K%20Current%20Report) [Registrant Information](index=1&type=section&id=Registrant%20Information) This section details Sky Harbour Group Corporation's identification, address, jurisdiction, and stock exchange listing - The report was filed by Sky Harbour Group Corporation, a Delaware-incorporated company, on May 13, 2025[1](index=1&type=chunk)[2](index=2&type=chunk) - The registrant is identified as an emerging growth company[4](index=4&type=chunk) Stock Exchange Listing | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | :--- | :--- | :--- | | Class A common stock, par value $0.0001 per share | SKYH | The New York Stock Exchange | | Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share | SKYH WS | The New York Stock Exchange | [Item 2.02. Results of Operations and Financial Condition](index=3&type=section&id=Item%202.02.%20Results%20of%20Operations%20and%20Financial%20Condition) This section details Sky Harbour Group Corporation's Q1 2025 financial results announcement, with furnished but not filed information - The company announced its financial results for the three months ended March 31, 2025, through a press release and an investor presentation on May 13, 2025[5](index=5&type=chunk)[6](index=6&type=chunk) - The information, including Exhibits 99.1 and 99.2, is explicitly stated as not "filed" for the purposes of Section 18 of the Exchange Act, limiting its legal liability under certain securities laws[8](index=8&type=chunk) [Cautionary Statement Regarding Forward-Looking Statements](index=3&type=section&id=Cautionary%20Statement%20Regarding%20Forward-Looking%20Statements) This section provides a standard safe harbor warning for forward-looking statements, highlighting inherent risks and uncertainties - The report includes forward-looking statements and cautions readers against placing undue reliance on them, directing them to the "Risk Factors" section of the company's Annual Report on Form 10-K for more information[9](index=9&type=chunk) [Item 9.01. Financial Statements and Exhibits](index=4&type=section&id=Item%209.01.%20Financial%20Statements%20and%20Exhibits) This section lists the exhibits accompanying the Form 8-K report, including the press release and investor presentation List of Exhibits | Exhibit Number | Exhibit Title | | :--- | :--- | | 99.1 | Press Release dated May 13, 2025 | | 99.2 | Investor Presentation dated May 13, 2025 | | 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | [Signature](index=4&type=section&id=SIGNATURE) The report is formally concluded and authorized by the signature of the company's Chief Executive Officer - The report was signed on May 13, 2025, by Tal Keinan, Chief Executive Officer of Sky Harbour Group Corporation[15](index=15&type=chunk)

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, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF Sky Harbour Group Corporation (Exact name of registrant as specified in its Charter) Delaware 85-2732947 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-3964 ...

Sky Harbour Group Corporation (SKYH) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, SKYH's 50-day simple moving average broke out above its 200-day moving average; this is known as a "golden cross." A golden cross is a technical chart pattern that can signify a potential bullish breakout. It's formed from a crossover involving a security's short-term moving average breaking above a longer-term moving average, with the most common moving av ...

Core Insights - Sky Harbour Group Corp. (NYSE: SKYH) has shown strong growth and resilience in FY24, effectively managing economic challenges such as inflation and high interest rates while expanding its aviation infrastructure portfolio [1][7] - The company achieved a significant milestone with consolidated revenues of $14.8 million, marking a 95% year-over-year increase from FY23 [7] - Key developments include the completion of major construction projects, acquisition of existing facilities, and the introduction of the SH-37 hangar product, which is designed for modern business jets, enhancing its competitive edge in premium aviation infrastructure [1][7] Financial Performance - Consolidated revenues reached $14.8 million, reflecting a 95% increase compared to FY23 [7] - Total leasable space expanded to approximately 580,000 square feet, with over 2.1 million square feet currently under construction or in development [7] Strategic Initiatives - The launch of the SH-37 hangar product represents a strategic move to cater to the needs of modern business jets, thereby strengthening the company's market position [1][7] - The company has maintained solid occupancy rates across its operational campuses, indicating effective management and demand for its facilities [1]

Financial Data and Key Metrics Changes - In Q4, consolidated revenues increased by 13% sequentially over Q3, with full-year revenues doubling compared to 2023 [8] - Operating expenses in Q4 rose primarily due to hiring for new campuses and noncash accruals for ground lease payments, which amounted to over $1.4 million [9][10] - The company expects to reach cash flow breakeven on a consolidated basis in Q4 of this year [11] Business Line Data and Key Metrics Changes - Assets under construction and completed construction reached over $250 million by year-end, driven by activities in Phoenix, Dallas, and Denver [8] - Revenues from the wholly owned Sky Harbour Capital subsidiary were flat from Q3 to Q4, but a significant increase in revenues is expected in Q2, Q3, and Q4 of this year as campuses are leased up [14][15] Market Data and Key Metrics Changes - The company reported strong liquidity with approximately $127 million in cash and U.S. Treasury bills, excluding $32 million used for the acquisition of CloudNine and Skyro 5 [27] - The long bond trading has rallied over the past year, and the company is in discussions with rating agencies to secure investment-grade ratings for existing bonds [28][29] Company Strategy and Development Direction - The company aims to accelerate the pace of ground lease signings, with a potential to exceed 50 campuses in the next 3 to 5 years [72][73] - Focus on site acquisition, development, leasing, and operations is increasingly integrated, with a strong emphasis on quality and speed in construction [45][65] - The company is exploring additional revenue streams but prioritizes establishing a strong brand and operational excellence [66][78] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential, citing a robust pipeline of opportunities and a favorable market environment for business aviation [73][74] - The company anticipates that inflation at airports will outstrip CPI significantly, impacting future lease rates positively [90] - Management is cautious about macroeconomic factors but believes they are well-positioned to navigate challenges [140][141] Other Important Information - The introduction of adjusted EBITDA as a key performance metric aims to provide a clearer view of operating performance [17][19] - The company is actively working on cost-saving initiatives in construction, including national procurement strategies [130][134] Q&A Session Summary Question: Potential for 50 campuses in 3 to 5 years - Management indicated that if guidance is met, they would be halfway to this goal by the end of the year, with an exponential growth in site acquisitions [72][73] Question: Expectations on price per square foot for new leases - Management clarified that additional revenue streams are not a priority at the moment, focusing instead on securing marquee airport sites [77][78] Question: Campus development progress in 2026 - Management expects to continue at least at the same pace as 2025, with a potential for significant growth [82][83] Question: Step-up in rents and market rates - Management noted that while initial lease-ups may see significant compromises, subsequent leases are expected to align more closely with market rates [87][88] Question: Funding for construction costs - Management is deliberate in capital raising plans, aiming for positive cash flow by 2026 to support future growth [94][95] Question: Update on $150 million bond issuance - Management reported ongoing interest from institutional investors and is conducting feasibility studies for the bond issuance [100][101] Question: Expansion opportunities for RapidBuilt - Management confirmed interest from third parties for manufacturing opportunities, but the focus remains on internal needs for Sky Harbour [106][110] Question: Impact of tariffs on material costs - Management acknowledged recent increases in steel prices due to tariffs but indicated that preemptive measures helped mitigate impacts [140][141]

Financial Data and Key Metrics Changes - In Q4, consolidated revenues increased by 13% sequentially over Q3, with full-year revenues doubling compared to 2023 [8] - Operating expenses in Q4 rose due to hiring for new campuses and noncash accrual of ground lease expenses, which amounted to over $1.4 million [9][10] - The company expects to reach cash flow breakeven on a consolidated basis in Q4 of this year [11] Business Line Data and Key Metrics Changes - Assets under construction and completed construction reached over $250 million by year-end, driven by activities in Phoenix, Dallas, and Denver [8] - Revenues from the wholly owned Sky Harbour Capital subsidiary were flat from Q3 to Q4, but a significant increase in revenues is expected in Q2, Q3, and Q4 of this year as campuses are leased up [14][15] Market Data and Key Metrics Changes - The company reported strong liquidity with approximately $127 million in cash and U.S. Treasury bills, excluding $32 million used for the acquisition of CloudNine and Skyro 5 [27] - The long bond trading has rallied over the past year, and the company is in discussions with rating agencies to secure investment-grade ratings for existing bonds [28][29] Company Strategy and Development Direction - The company aims to accelerate the pace of ground lease signings, with a potential to exceed 50 campuses in the next 3 to 5 years [72][73] - Focus on site acquisition, development, leasing, and operations is increasingly integrated, with a strong emphasis on quality and speed in construction [45][65] - The company is exploring additional revenue streams but prioritizes establishing a strong brand and operational excellence [66][78] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential, citing a robust pipeline of opportunities and the ability to capitalize on past investments [73][80] - The company anticipates that inflation at airports will outstrip CPI significantly, impacting future lease rates positively [90] - Management is cautious about macroeconomic factors but believes they are well-positioned to navigate challenges [140] Other Important Information - The introduction of adjusted EBITDA as a key performance metric aims to provide a clearer view of operating performance [17][19] - The company is focused on maintaining a strong cash management strategy while preparing for future debt financing [29][30] Q&A Session Summary Question: Potential for 50 campuses in 3 to 5 years - Management indicated that if guidance is met, they would be halfway to this goal by the end of the year, with an exponential growth in site acquisitions expected [72][73] Question: Expectations on price per square foot for new leases - Management clarified that additional revenue streams are not a priority at the moment, focusing instead on securing marquee airport sites [77][78] Question: Campus development progress in 2026 - Management did not provide specific guidance for 2026 but suggested that development would continue at least at the pace of 2025 [82] Question: Step-up in rents and market rates - Management noted that while significant step-ups in rents are expected, the third lease may not see as dramatic an increase as the second [85][88] Question: Funding gap for square footage in development - Management emphasized a deliberate capital raising plan, with a focus on maintaining liquidity and exploring partnerships with real estate infrastructure funds [92][96] Question: Update on raising $150 million - Management reported positive interest from institutional investors and is conducting feasibility studies for upcoming bond financing [99][101] Question: Expansion opportunities for RapidBuilt - Management confirmed interest from third parties for manufacturing opportunities but emphasized that the primary focus remains on Sky Harbour's needs [106][110] Question: Impact of tariffs on procurement - Management acknowledged recent hikes in steel prices due to tariffs but noted that preemptive measures were taken to mitigate impacts [140]

分组1 - Sky Harbour Group Corporation reported a quarterly loss of $0.10 per share, which was better than the Zacks Consensus Estimate of a loss of $0.11, and an improvement from a loss of $0.61 per share a year ago, resulting in an earnings surprise of 9.09% [1] - The company posted revenues of $4.64 million for the quarter ended December 2024, exceeding the Zacks Consensus Estimate by 7.13%, and showing significant growth from year-ago revenues of $2.24 million [2] - Sky Harbour Group shares have increased approximately 9.3% since the beginning of the year, contrasting with a decline of -2.9% in the S&P 500 [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is -$0.08 on revenues of $5.87 million, and for the current fiscal year, it is -$0.26 on revenues of $32.03 million [7] - The Aerospace - Defense Equipment industry, to which Sky Harbour Group belongs, is currently ranked in the top 12% of over 250 Zacks industries, indicating a favorable outlook for the sector [8]

Financial Data and Key Metrics Changes - In Q4, consolidated revenues increased by 13% sequentially over Q3, with full-year revenues doubling compared to 2023 [8] - Operating expenses in Q4 rose due to hiring for new campuses and non-cash accruals for ground lease expenses, which amounted to over $1.4 million [9][11] - The company expects to reach cash flow break-even on a consolidated basis in Q4 of this year [12] Business Line Data and Key Metrics Changes - The wholly-owned Scarborough Capital subsidiary's revenues were flat from Q3 to Q4, but a significant increase in revenues is expected in Q2, Q3, and Q4 of this year as new campuses ramp up [15] - Adjusted EBITDA is now being reported as a key business metric, providing insights into operating performance and debt service capabilities [19][20] Market Data and Key Metrics Changes - The company reported strong liquidity with approximately $127 million in cash and U.S. Treasury bills, excluding $32 million used for acquisitions [27] - The long bond trading has shown positive trends, with ongoing interest from bondholders [28] Company Strategy and Development Direction - The company aims to secure investment-grade ratings for existing bonds and expects future debt service coverage ratios to exceed previous forecasts [29] - The focus for 2025 is on acquiring the best revenue-producing airfields in the country, with a strong emphasis on quality and speed in construction [62][64] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential for significant acceleration in ground lease signings, with the pace of site acquisitions growing exponentially [70] - The company is not rushing to implement additional revenue streams, focusing instead on securing marquee airport sites and optimizing offerings for residents [74] Other Important Information - The company has begun the process of seeking investment-grade ratings for its existing bonds, which is expected to positively impact future financing [29][92] - The introduction of RapidBuilt is aimed at increasing the quality and speed of development, with potential opportunities to expand to clients outside of Sky Harbor in the future [95][96] Q&A Session Summary Question: Potential for 50 campuses in three to five years - Management indicated that if guidance is met, they would be halfway to this goal by the end of the year, with an exponential growth in site acquisition wins [70] Question: Expectations on price per square foot for new locations - Most new locations are expected to be greenfields, with additional revenue streams not prioritized at this time [75] Question: Campus development progress in 2026 - Management anticipates continuing at least the same pace as 2025, with a potential range of six or more airports [78] Question: Step-up in rents and existing tenant leases - Management noted that the step-up from the second lease to the third is expected to be less dramatic, with inflation being a guiding factor for future leases [80][82] Question: Funding gap for square footage in development - The company is deliberate in its capital raising plan, aiming to maintain a 12 to 18-month capital cushion ahead of deployment [86] Question: Update on raising $150 million - The company is in the process of a feasibility study and has received interest from institutional investors regarding potential debt financing [92] Question: Interest rate expectations for upcoming bond issuance - Current market conditions suggest new issuances may come at a slightly higher yield than existing bonds, with efforts to secure investment-grade ratings expected to positively influence this [102] Question: Impact of tariffs on procurement - Management confirmed that while there have been increases in steel prices due to tariffs, they had preemptively placed large orders to mitigate impacts [120]

Financial Performance - Full-year consolidated revenues increased by 95% in 2024 compared to 2023[4] - Full-year Obligated Group revenues increased by 51% in 2024 compared to 2023[4] - Net cash provided by operating activities reached positive $6.5 million in 2024, up from a net cash used of $1.4 million in 2023[4] Assets and Acquisitions - Constructed assets or in-construction exceeded $250 million at year-end 2024[4] - Cash and US Treasuries totaled $127 million as of December 31, 2024, after using $32 million for the Camarillo Acquisition[4] - The company completed the acquisition of CloudNine and Sky 805, with occupancy currently at 68%[8] Future Plans and Developments - The company expects to reach run rate breakeven operating cash flow/adjusted EBITDA by year-end 2025, driven by new campuses opening in Phoenix, Denver, and Addison[4] - A new ground lease was executed at Seattle's King County International Airport, with approximately 90,000 rentable square feet[8] - The company plans to support phase 1 development projects at approximately 6-7 new airport campuses, aiming for around 800,000 additional rentable square feet[11] Financing Activities - The company executed a PIPE issuance of 7,911,580 shares for net proceeds of approximately $75 million at a net purchase price of $9.50 per share[10]