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Get filing alertsSky Harbour closes $40M equity raise at $10/share, reports first positive cash flow quarter
Filed August 12, 2026 · Period ending August 12, 2026 · ~1 min read
Key Changes
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high
Closed $40M registered direct offering at $10.00/share with Oasis Management and Bay Area tech investor; proceeds to fund ~400K sq ft of new hangars paired with tax-exempt debt.
Exhibit 99.1 view on EDGAR → -
high
Achieved first positive operating cash flow quarter in company history at ~$0.5M in Q2 2026, vs. ~$3.9M cash used in Q1 2026; Q2 revenues up 50% YoY and 13% sequentially.
Exhibit 99.1 view on EDGAR → -
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Economic occupancy reached 132% at San Jose Phase 1; lease renewals averaged 19% revenue escalation over trailing 12 months (excluding CPI floors), reflecting pricing power at stabilized campuses.
Exhibit 99.1 view on EDGAR → -
high
Quarter-end liquidity of $206.9M in cash/Treasuries plus $130.2M undrawn JP Morgan facility capacity; including the $40M raise, total available liquidity exceeds $377M.
Exhibit 99.1 view on EDGAR → -
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Reaffirmed 2026 year-end guidance: $42-46M annualized revenue run-rate (from $39.4M in Q2) and $4-6M annualized Adjusted EBITDA run-rate.
Exhibit 99.1 view on EDGAR →
Summary
Sky Harbour announced Q2 2026 results alongside a $40 million equity raise that closed the same day. The registered direct offering priced at $10.00 per share—a modest discount to the 30-day VWAP of $10.49—and brought in two new institutional investors: Oasis Management and a California Bay Area tech investor.
Management plans to pair the proceeds with tax-exempt debt to fund approximately 400,000 square feet of new hangar projects, extending the company's development pipeline. The quarter marked a milestone: Sky Harbour generated positive operating cash flow of roughly $0.5 million, its first such quarter. Revenues climbed 50% year-over-year and 13% sequentially, driven by strong leasing performance.
Economic occupancy at the San Jose Phase 1 campus hit 132%, and lease renewals across the portfolio averaged 19% revenue escalation over the trailing twelve months (excluding standard CPI escalators with a 4% floor). Combined with $206.9 million in cash and Treasuries at quarter-end and $130.2 million of undrawn construction facility capacity, the company enters the second half with over $377 million in total liquidity (including the fresh equity). Management reaffirmed 2026 year-end guidance of $42–46 million in annualized revenue run-rate and $4–6 million in annualized Adjusted EBITDA run-rate, up from a $39.4 million revenue run-rate in Q2. For a growth-stage hangar developer, the combination of positive cash flow, pricing power on renewals, and ample capital to fund the pipeline represents meaningful operational progress.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Sky Harbour announced Q2 2026 financial results via press release and investor presentation.
Added in current filing · verify on EDGAR →
On August 12, 2026, Sky Harbour Group Corporation (the “Company”) issued a press release (the “Press Release”) which announced its financial results for the three and six months ended June 30, 2026.
Sky Harbour disclosed its financial results for the second quarter and first half of 2026 through a press release. The 8-K does not include the actual financial figures in the body text; those details are contained in the attached Exhibit 99.1 press release.
Added in current filing · verify on EDGAR →
On August 12, 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.
The company provided an investor presentation at a scheduled meeting with investors, analysts, and shareholders. This presentation is furnished as Exhibit 99.2 and typically contains additional context, guidance, or strategic commentary beyond the earnings press release.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Earlier today, the Company closed a $40 million common stock issuance at $10.00 per share through a registered direct placement with two new long-term investors; funds managed by Oasis Management Company and a prominent member of the California Bay Area tech community. The proceeds of this primary placement are expected to be paired with an expanded tax-exempt bank facility to fund additional hangar projects totaling approximately 400,000 rentable square feet.
Sky Harbour closed a $40 million registered direct common stock offering at $10.00 per share with two new institutional investors: Oasis Management Company and a California Bay Area tech investor. The proceeds will be combined with tax-exempt debt to fund approximately 400,000 square feet of new hangar projects. The CFO noted the $10 price represents a small discount to the 30-day VWAP of $10.49 and was executed with minimal transaction costs.
Added in current filing · view on EDGAR →
Quarter-end liquidity and capital resources are strong, with consolidated cash and US Treasuries totaling $206.9 million and access to an additional $130.2 million of capacity under the committed JP Morgan drawdown construction bank facility (“JPM Facility”). ... These figures exclude $40 million in proceeds from a registered direct common stock issuance that settled earlier today.
As of June 30, 2026, Sky Harbour held $206.9 million in consolidated cash and US Treasuries, with an additional $130.2 million of undrawn capacity under its JP Morgan construction facility. Including the $40 million equity raise that settled on August 12, total available liquidity exceeds $377 million. The company has drawn nearly $70 million from the JPM Facility for capital expenditures at BDL, SLC, and OPF Phase 2 projects.
Added in current filing · view on EDGAR → · paraphrased
The Company continues to enjoy higher-than-forecast revenue per square foot at its stabilized campuses, with economic occupancy reaching as high as 132% at one campus. Revenue per square foot continues to grow as original hangar leases turn over, with an average revenue escalation of 19% upon re-lease for the trailing 12 months as of 8/1/2026 (excluding typical annual escalations of CPI with a floor of 4%). ... SJC Phase 1 has reached 132% economic occupancy.
Sky Harbour reported strong leasing momentum with economic occupancy reaching 132% at San Jose Mineta International Airport Phase 1. Upon lease renewals, the company achieved an average 19% revenue escalation over the trailing 12 months ending August 1, 2026, excluding standard CPI escalations with a 4% floor. Combined occupancy at OPF reached 80%, while ADS Phase 1, DVT Phase 1, and APA achieved 98%, 76%, and 44% occupancy respectively.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 13, 2026 · How we verify