AerSale (ASLE) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 was $70.9 million, down 33.9% year-over-year, mainly due to the absence of flight equipment sales and lower USM sales volume.

• Net loss was $5.6 million, compared to net income of $8.6 million in Q2 2025, reflecting lower gross profit and higher costs.

• Adjusted EBITDA was $2.2 million (3.1% margin), down from $18.3 million (17% margin) last year.

• Strategic focus remains on monetizing assets, scaling MRO, and growing recurring revenue streams.

• Strategic investments in labor and MRO capacity ahead of anticipated demand weighed on near-term results.

Financial highlights

• Gross margin was 22.9%, down from 32.9% last year, reflecting the absence of high-margin flight equipment sales and lower USM gross profit.

• SG&A expenses were $21 million, down from $22.8 million, with $1.3 million in share-based compensation.

• Diluted loss per share was $0.12; adjusted diluted loss per share was $0.09.

• Cash used in operating activities was $33.5 million year-to-date, mainly for inventory and make-ready costs.

• Liquidity at quarter-end was $34 million, including $2.2 million in cash and $31.8 million available on the credit facility.

Outlook and guidance

• Management expects significant improvement in earnings and liquidity in the second half of 2026, driven by recent aircraft and engine sales and increased leasing activity.

• Anticipates closing a $35 million 737 sale and several engine transactions in late Q3 or early Q4.

• Margins and profitability projected to improve as utilization rises and investments in new capacity yield returns.

• Recurring revenue base expected to grow with additional leasing and MRO volume.

• Anticipates peak demand for AerSafe® in Q3 2026 ahead of the FAA compliance deadline.