SkyHarbour(SKYH) - 2024 Q4 - Annual Results

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]