Bridger Aerospace Group Holdings Inc
For the period ended Mar 31, 2024. Filed May 14, 2024.
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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, 2024 · Filed May 14, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations
($s in thousands, except per share amounts)
| For the Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Revenues1 | $5,507 | $365 |
| Cost of revenues: | ||
| Flight operations | 5,009 | 3,733 |
| Maintenance | 4,197 | 3,515 |
| Total cost of revenues | 9,206 | 7,248 |
| Gross loss | (3,699) | (6,883) |
| Selling, general and administrative expense2 | 11,610 | 33,229 |
| Operating loss | (15,309) | (40,112) |
| Interest expense3 | (5,923) | (5,665) |
| Other income | 1,159 | 1,092 |
| Loss before income taxes | (20,073) | (44,685) |
| Income tax expense | (14) | — |
| Net loss | $(20,087) | $(44,685) |
| Series A Preferred Stock – adjustment for deemed dividend upon Closing | — | (48,300) |
| Series A Preferred Stock – adjustment to eliminate 50% multiplier | — | 156,362 |
| Series A Preferred Stock – adjustment to maximum redemptions value | (6,189) | (4,274) |
| (Loss) earnings attributable to Common Stockholders - Basic and Diluted | $(26,276) | $59,103 |
| (Loss) earnings per share - Basic | $(0.55) | $1.36 |
| (Loss) earnings per share - Diluted | $(0.55) | $0.79 |
| Weighted average Common Stock outstanding – Basic | 47,602,241 | 43,488,468 |
| Weighted average Common Stock outstanding – Diluted | 47,602,241 | 74,986,752 |
1 Includes related party revenues of $0.1 million and $0.3 million for the three months ended March 31, 2024 and 2023, respectively.
2 Includes related party cost of revenues of $1.0 million and $0.1 million for the three months ended March 31, 2024 and 2023, respectively.
3 Includes related party interest expense of $0.3 million for the three months ended March 31, 2024 and 2023.
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