AerSale® Reports Fourth Quarter and Full Year 2025 Results

Core Insights - AerSale Corporation reported its fourth quarter and full year 2025 financial results, highlighting a decrease in total revenue but significant improvements in net income and adjusted EBITDA [3][5][17]. Fourth Quarter 2025 Highlights - Total revenue for Q4 2025 was $90.9 million, down 4.0% from $94.7 million in Q4 2024, primarily due to the timing of flight equipment sales [5][7]. - GAAP net income increased by 99.7% to $5.4 million compared to $2.7 million in the prior year [5][14]. - Adjusted net income rose 57.7% to $7.5 million from $4.8 million in Q4 2024 [5][15]. - Adjusted EBITDA for Q4 2025 was $15.2 million, a 17.1% increase from $13.0 million in Q4 2024, representing 16.7% of total revenue [5][17]. - Diluted earnings per share increased to $0.11 from $0.05 in the prior year [5][16]. - Flight equipment sales totaled $20.9 million from four engines, down from $31.0 million from six engines in the prior year [8][9]. Full Year 2025 Highlights - Total revenue for 2025 was $335.3 million, a decrease of 2.8% from $345.1 million in 2024 [17][19]. - Adjusted EBITDA for the full year was $46.1 million, up 38.2% from $33.4 million in 2024, driven by margin expansion and cost management [17][21]. - GAAP net income for 2025 was $8.6 million, compared to $5.9 million in 2024 [23][24]. - Flight equipment sales for the year were $56.4 million, down from $110.1 million in 2024, but excluding these sales, revenue grew 18.7% year-over-year [18][19]. - Asset Management revenue was $211.6 million, slightly down from $215.5 million in 2024, due to lower flight equipment sales [19][20]. Operational Insights - The gross margin for Q4 2025 increased to 34.1% from 31.4% in the same period last year, driven by higher margins from leasing and MRO activities [12][21]. - Selling, general, and administrative expenses decreased to $23.9 million in Q4 2025 from $24.8 million in Q4 2024 [12][21]. - The company ended 2025 with $71.6 million in liquidity, including $4.4 million in cash and $67.2 million available on its revolving credit facility [25].