Sky Harbour Group Corp - 2025年季度报告

(Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedMarch 31, 2025ORTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR Sky Harbour Group Corporation Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany or an emerging growth company. (See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and Large accelerated filerNon-accelerated filerEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of May 8, 2025,33,835,373shares of ClassA common stock, par value $0.0001 per share, and42,046,356shares of ClassB commonstock, par value $0.0001 per share, were issued and outstanding, respectively. PART I. FINANCIAL INFORMATION SKY HARBOUR GROUP CORPORATION AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS SKY HARBOUR GROUP CORPORATION AND SUBSIDIARIESNOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTSMARCH 31, 2025 (in thousands, except share data) 1.Organization and Business Operations Sky Harbour Group Corporation (“SHG”) is a holding company organized under the laws of the State of Delaware and, through its mainoperating subsidiary, Sky Harbour LLC and its subsidiaries (collectively, “Sky”), is an aviation infrastructure development company thatdevelops, leases and manages general aviation hangars for business aircraft across the United States. Sky Harbour Group Corporation and its The Company is organized as an umbrella partnership-C corporation, or “Up-C”, structure in which substantially all of the operatingassets of the Company are held by Sky and SHG’s only substantive assets are its equity interests in Sky (the “Sky Common Units”). As ofMarch 31, 2025, SHG owned approximately44.6% of the Sky Common Unitsand the prior holders of SkyCommon Units (the “LLC 2.Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements and the related notes (the “Financial Statements”) have been prepared inconformity with the U.S. Securities and Exchange Commission (the “SEC”) requirements for quarterly reports on Form10-Q, andconsequently exclude certain disclosures normally included in audited consolidated financial statements prepared in conformity withaccounting principles generally accepted in the United States of America (“GAAP”).These Financial Statements include the accounts ofSHGand its consolidated subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The Financial Certain historical amounts have been reclassified to conform to the current year’s presentation. Amounts previously presented as rentalrevenue are now separately disclosed as rental revenue and fuel revenue within the consolidated statement of operations. Amounts previouslypresented as operating expenses are now separately disclosed as campus operating expenses, fuel expenses, and ground lease expenses withinthe consolidated statement of operations. Amounts previously presented as general and administrative expenses are now separately disclosed Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptionsthat affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financialstatements and the reported amounts of revenues and expenses during the reporting periods. Such estimates include assumptions used withinimpairment analyses, estimated useful lives of depreciable assets and amortizable costs, estimates of inputs utilized in determining the fair Risks and Uncertainties The Company’s operations have been limited to-date. For most of it