Traders should monitor AerSale's transition from volatile flight equipment sales to more recurring revenue streams like leasing and MRO services. The significant improvement in profitability despite revenue decline suggests successful execution of their business model shift. However, continued revenue pressure from flight equipment sales remains a concern.
Price Chart
Executive Summary
AerSale reported mixed financial results for Q4 and full year 2025, with revenue declining 4.0% YoY in Q4 and 2.8% for the full year due to lower flight equipment sales. However, profitability improved significantly, with GAAP net income up 99.7% in Q4 and 46.6% for the full year, driven by higher margins in leasing and MRO operations and cost-cutting initiatives. The company emphasized growth in recurring revenue streams like USM sales and leasing.
Key Financial Metrics
Key Facts
- Q4 2025 revenue was $90.9 million, down 4.0% YoY from $94.7 million
- Full year 2025 revenue was $335.3 million, down 2.8% YoY from $345.1 million
- Q4 GAAP net income was $5.4 million, up 99.7% YoY from $2.7 million
- Full year GAAP net income was $8.6 million, up 46.6% YoY from $5.9 million
- Adjusted EBITDA grew 17.1% YoY in Q4 to $15.2 million and 38.2% for the full year to $46.1 million
- Excluding flight equipment sales, full year revenue grew 18.7% YoY
- Gross margin improved to 31.5% for the full year from 30.1% in 2024
- Company ended 2025 with $71.6 million in liquidity
Financial Impact
Revenue declined 2.8% for the full year but profitability improved significantly with net income up 46.6% and adjusted EBITDA up 38.2%
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Asset Management | $211.6M | — |
| Technical Operations | $123.7M | -4.5% |
Risk Factors
- Continued reliance on volatile flight equipment sales which declined from $110.1 million in 2024 to $56.4 million in 2025
- Cash used in operating activities was $23.0 million in 2025, primarily due to feedstock acquisitions
- Future performance depends on successful monetization of $363.8 million inventory position
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (ASLE) — Batch item 1 | 0001104659-26-024101 |
| Document: asle-20260305x8k.htm | press-3250669 |
| Document: 0001104659-26-024101-index-headers.html | 0001104659-26-024101 |
| Document: 0001104659-26-024101-index.html | 0001104659-26-024101 |
| Document: 0001104659-26-024101.txt | 0001104659-26-024101 |
| PRESS-RELEASE Data (Synthetic) | 0001104659-26-024101 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | Press Release | $4.70 | awaiting T+20 | — | $4.72 (+0.43%) |
Sep 25, 2026 4w ago | 8-K | $5.32 $4.71 | ▼ −11.47% | ▼ −11.43% | $4.72 (−11.28%) |
Jul 24, 2026 13w ago | Press Release | $6.18 $5.56 | ▼ −10.03% | ▼ −13.66% | $4.72 (−23.62%) |
Jun 11, 2026 19w ago | Insider Cluster | $6.24 $6.11 | ▼ −2.08% | ▼ −3.97% | $4.72 (−24.36%) |
May 1, 2026 25w ago | DEFA14A | $6.79 $6.52 | ▼ −3.98% | ▼ −9.62% | $4.72 (−30.49%) |
Apr 28, 2026 26w ago | DEFA14A | $6.63 $6.62 | ▼ −0.15% | ▼ −6.20% | $4.72 (−28.81%) |
Apr 23, 2026 26w ago | Press Release | $6.88 $6.15 | ▼ −10.61% | ▼ −14.64% | $4.72 (−31.40%) |
Mar 5, 2026 33w ago | 8-K / PRESS-RELEASE | $6.46 $6.30 | ▼ −2.48% | ▼ −0.43% | $4.72 (−26.93%) |
US Market Status
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