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Get filing alertsSky Harbour reports 56% revenue growth, issues first guidance targeting profitability by year-end
Filed May 14, 2026 · Period ending May 14, 2026 · ~1 min read
Key Changes
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Q1 2026 revenues up 56% year-over-year to $34.9M annualized run rate; operating cash use improved to $3.9M from $5.1M prior year; ended quarter with $187.6M cash plus $180.6M construction facility access
Item 2.02 verify on EDGAR → -
high
Introduced first formal guidance: targeting $42-46M annualized revenue run rate and $4-6M positive adjusted EBITDA by year-end 2026, up from negative $6.0M in Q1
Exhibit 99.1 view on EDGAR → -
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Stabilized campuses reached 103% economic occupancy with revenue per square foot exceeding forecasts; newly opened Miami OPF Phase 2 achieved 68% occupancy within two days at premium rates
Exhibit 99.1 view on EDGAR → -
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Subsidiary issued $150M subordinated municipal bonds in February 2026 to fund ADS Phase 2 completion and seven Portfolio II expansion projects
Exhibit 99.1 view on EDGAR → -
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Six projects on schedule: OPF Phase 2 operational May 2026, ADS Phase 2 expected before year-end, four additional campuses (BDL, SLC, POU, ORL) tracking to 2026-2027 completion dates
Exhibit 99.1 view on EDGAR →
Summary
Sky Harbour reported strong Q1 2026 results with 56% year-over-year revenue growth and improved operating cash flow, while introducing its first formal guidance targeting profitability by year-end. The company projects annualized revenues of $42-46 million and positive adjusted EBITDA of $4-6 million by December 2026, representing a significant inflection from the negative $6.0 million adjusted EBITDA run rate in Q1.
This guidance signals management's confidence in the business model as stabilized campuses demonstrate pricing power with 103% economic occupancy and above-forecast revenue per square foot. The operational momentum is supported by strong leasing activity, with the newly opened Miami OPF Phase 2 achieving 68% occupancy within two days at premium rates exceeding existing tenants.
Sky Harbour maintains substantial liquidity with $187.6 million in cash and treasuries plus access to $180.6 million in committed construction financing, supplemented by the $150 million municipal bond issuance completed in February. The company's expansion pipeline remains on track with six projects progressing toward completion through 2027, positioning Sky Harbour to scale revenues while moving toward sustained profitability. For investors, the key watch item is whether the company can execute on its year-end guidance targets, particularly the transition to positive adjusted EBITDA, as new campuses ramp occupancy and contribute to the revenue base.
Section-by-Section Diff
Event · Exhibit 99.1
Sky Harbour announced Q1 2026 results, introduced 2026 year-end guidance, and provided updates on leasing, construction, and financing activities.
Added in current filing · view on EDGAR →
Stabilized campuses: The Company continues to enjoy higher-than-forecast revenue per square foot at its stabilized campuses, with economic occupancy reaching 103% for campuses open for more than 6 months. ... Miami–Opa Locka Executive Airport (“OPF”) Phase 2 opened May 11 with 68% occupancy as of May 13th, at average contracted revenue per square foot higher than the highest revenue tenant at OPF Phase 1. ... As of May 13th, Dallas Addison Airport (“ADS”) Phase 1, Phoenix Deer Valley Airport (“DVT”) Phase 1 and Denver Centennial Airport (“APA”) have achieved 91%, 76% and 44% occupancy respectively.
Sky Harbour reported strong leasing momentum with stabilized campuses reaching 103% economic occupancy and revenue per square foot exceeding forecasts. The newly opened OPF Phase 2 achieved 68% occupancy within two days at higher rates than existing tenants. Other campuses showed occupancy ranging from 44% to 91%.
Added in current filing · view on EDGAR →
As previously reported, Sky Harbour Capital III LLC, a wholly owned, indirect subsidiary of the Company, issued $150 million of subordinated bonds through the Public Finance Authority of Wisconsin municipal conduit on February 12th. Proceeds are earmarked to completing projects at ADS 2 and partially funding the new Portfolio II projects: BDL, SLC, POU, Orlando Executive Airport (“ORL”), Trenton-Mercer Airport (“TTN”), Chicago Executive Airport (“PWK”), and Dulles International Airport (“IAD”) along with proceeds from the JPM Facility.
Sky Harbour disclosed that its subsidiary issued $150 million of subordinated municipal bonds in February 2026. The proceeds are designated for completing the ADS Phase 2 project and partially funding seven Portfolio II projects. This financing, combined with the JP Morgan construction facility, supports the company's expansion pipeline.
Event · Item 2.02 — Results of Operations and Financial Condition
Sky Harbour announced Q1 2026 financial results via press release and investor presentation.
Added in current filing · verify on EDGAR →
On May 14, 2026, Sky Harbour Group Corporation (the “Company”) issued a press release (the “Press Release”) which announced its financial results for the three months ended March 31, 2026.
The company disclosed its first quarter 2026 financial results through a press release. The actual financial figures are contained in the attached press release exhibit, which is not included in this 8-K body text.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
On May 14, 2026, the Company furnished information in the form of an investor presentation (the “Investor Presentation”) to its investors, analysts, shareholders, and other parties at a scheduled investor meeting.
Sky Harbour provided an investor presentation at a scheduled meeting with investors, analysts, and shareholders. The presentation materials are attached as an exhibit to provide additional context beyond the earnings press release.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 25, 2026 · How we verify