GMR Solutions Inc.

For the period ended Mar 31, 2026. Filed Jun 2, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed Jun 2, 2026

GMRS$10.99-2.5%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Cash Flows

(Amounts in thousands, unaudited)


· · Three Months Ended March 31,
· · 2026 · · 2025
Cash flows from operating activities:
Net income (loss)	$106,336	$38,024
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Depreciation and amortization	75,367	75,127
Amortization of deferred financing costs and debt discount	2,389	4,094
Paid-in-kind interest on long-term debt	—	7,757
Impairment of assets held for sale and other investments	—	14,100
(Gain) loss on divestiture of businesses	—	(1,422)
Stock-based compensation expense	(91)	520
Liability classified stock awards	—	2,085
Loss (gain) on disposal of property and equipment	1,076	4,105
Unrealized loss (gain) on marketable equity securities	1,227	1,235
Deferred income taxes	(4)	(1)
Other, net	(7,364)	(2,302)
Changes in assets and liabilities, net of effects of acquisitions
Accounts receivable, net	(64,847)	(61,631)
Accounts payable	5,775	3,050
Accrued wages, benefits and taxes	(73,169)	(34,704)
Accrued interest	15,849	65,712
Accrued liabilities	54,375	47,643
Other assets and liabilities, net	11,824	25,951
Net cash provided by (used in) operating activities	128,743	189,343

Cash flows from investing activities:
Proceeds from divestiture of businesses	—	6,422
Proceeds from asset disposals related to sales and insurance recoveries	1,199	265
Purchases of property and equipment	(64,138)	(52,458)
Net change in investments held as insurance collateral	(660)	(734)
Purchases of marketable securities	(25,878)	(10,150)
Sales and maturities of marketable securities	24,819	12,852
Other investing activities, net	13,200	(4,613)
Net cash provided by (used in) investing activities	(51,458)	(48,416)

Cash flows from financing activities:
Payments on finance lease obligations	(3,016)	(3,493)
Principal payments on long-term debt	(39,491)	(36,084)
Proceeds from issuance of long-term debt	27,681	10,000
(Redemption) issuance of redeemable preferred stock	(249,994)	—
Proceeds from issuance of shares under stock award plan, net of cash taxes paid	—	498
Net cash provided by (used in) financing activities	(264,820)	(29,079)
(Decrease) increase in cash, cash equivalents, restricted cash and restricted cash equivalents	(187,535)	111,848
Cash and cash equivalents, beginning of period (including restricted cash and restricted cash equivalents of $14.8 million and $16.6 million, respectively)	624,229	368,902
Cash and cash equivalents, end of period (including restricted cash and restricted cash equivalents of $10.6 million and $15.6 million, respectively)	$436,694	$480,750

Supplemental disclosure of cash flow information
Equipment (primarily aircraft) additions financed with the issuance of debt	$—	$4,131
Cash paid (received) during the period for:
Interest	$76,324	$36,126
Income taxes, net of refunds received	$(878)	$1,099

GMR SOLUTIONS INC.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.