Stonegate Capital Partners has updated its coverage on Sky Harbour Group Corporation (NYSE: SKYH), reporting strong financial results for fiscal year 2025. The company achieved consolidated revenue of $27.5 million, an 87% increase year over year, driven by a full year of contribution from CMA, higher occupancy at BNA, OPF, and SJC, and the commencement of operations at DVT, ADS, and APA during 2025. Rental revenue reached $21.6 million, while fuel revenue contributed $6.0 million.
The company's growth strategy emphasizes rapid expansion of its network of home-basing campuses for business aircraft. Management noted that leasing activity at Phoenix and Dallas is progressing faster than expected, while Denver has been slower initially but is showing signs of improvement. Early lease-up activity often involves short-term leases at lower rates to drive occupancy, with plans to transition tenants into longer-term leases at target pricing. For future campuses, Sky Harbour has implemented an active pre-leasing strategy, particularly at Bradley, where pre-leasing rents are running above existing campus averages due to long-term lease agreements.
Sky Harbour continues to invest aggressively in development, with over $328 million invested to date and funding secured for the next six projects, which will add more than 1.0 million rentable square feet. Profitability is also improving meaningfully, with a gross profit margin of 7.6% and adjusted EBITDA reaching run-rate breakeven in December 2025. These results underscore the company's progress toward achieving sustainable profitability as its campus network matures.
Stonegate Capital Partners, a leading capital markets advisory firm, provides investor relations and equity research services for public companies. The full announcement, including downloadable images and additional details, is available at Stonegate's website. For more information, contact Stonegate Capital Partners at (214) 987-4121.
