AEVEX Corp.
For the period ended Jun 30, 2026. Filed Aug 12, 2026.
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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.
Jun 30, 2026 · Filed Aug 12, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Six Months Ended June 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Operating activities | ||
| Net income (loss) | $27,692 | $(39,152) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation and amortization | 10,787 | 10,671 |
| Amortization of debt issuance costs | 292 | 611 |
| Noncash stock compensation expense | 1,809 | 88 |
| Change in contingent consideration | - | 2,435 |
| Deferred income taxes | 1,729 | 67 |
| Noncash operating lease expense | 1,671 | 1,550 |
| Provision for inventory obsolescence | 85 | 662 |
| Change in fair value of derivative liability | 5,695 | — |
| Loss on debt extinguishment | 919 | — |
| Loss on sale of equipment | 9 | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | (13,835) | (47,948) |
| Contract assets | (39,881) | 13,608 |
| Inventories | (8,619) | 1,383 |
| Prepaid expenses and other current assets | 7,917 | 230 |
| Other assets | (122) | 340 |
| Accounts payable | 6,851 | 8,382 |
| Accrued expenses and other current liabilities | 1,623 | 17,164 |
| Deferred revenue | 5,695 | 3,589 |
| Operating lease liabilities | (1,701) | (1,545) |
| Net cash provided by (used in) operating activities | 8,616 | (27,865) |
| Investing activities | ||
| Business acquisition, net of cash acquired | (500) | (2,077) |
| Proceeds from sale of property and equipment | 235 | — |
| Purchases of property and equipment | (3,268) | (4,203) |
| Net cash used in investing activities | (3,533) | (6,280) |
| Financing activities | ||
| Proceeds from Series A preferred units, net of issuance costs | 15,317 | — |
| Repurchase of Class A units | (1,048) | — |
| Distributions to members | (3,000) | — |
| Distributions to noncontrolling interest | (150) | (136) |
| Proceeds from issuance of Class B common stock | 1,000 | — |
| Proceeds from notes payable | 98,120 | — |
| Payments of debt issuance costs | (1,453) | — |
| Repayment of notes payable | (259,135) | (1,360) |
| Payment of debt extinguishment costs | (176) | — |
| Proceeds from IPO, net of underwriting discounts and commissions | 345,920 | — |
| Payments of offering costs | (12,253) | — |
| Proceeds from secondary offering, net of underwriting discounts and commissions | 148,809 | — |
| Purchase of Series B units | (148,809) | — |
| Proceeds from revolving credit facility | — | 10,000 |
| Net cash provided by financing activities | 183,142 | 8,504 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 188,225 | (25,641) |
| Cash, cash equivalents and restricted cash: | ||
| Beginning of period | 27,908 | 45,603 |
| End of period(1) | $216,133 | $19,962 |
(1)As of June 30, 2026, prepaid expenses and other current assets, and other assets, include $0.5 million and $0.4 million, respectively, of restricted cash related to a standby letter of credit as security for a customer contract.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(UNAUDITED) (Continued)
(In thousands)
| Supplemental disclosures of cash flow information: | ||
|---|---|---|
| Cash paid for interest | $9,003 | $14,838 |
| Cash paid for income taxes | 1,128 | 54 |
| Supplemental disclosures of noncash financing and investing activities: | ||
| Purchase of property and equipment in accounts payable | $211 | $77 |
| Series A preferred units accretion | 1,616 | — |
| Deferred offering costs in accrued expenses | 400 | — |
| Deferred financing costs in accrued expenses | 144 | — |
| Equity issued in settlement of contingent consideration | — | 61,650 |
| Right-of-use assets obtained in exchange for new lease liabilities | 2,564 | 573 |
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