AerSale (ASLE) investor relations material

Executive summary

• Q3 2025 revenue was $71.2 million, down from $82.7 million year-over-year, mainly due to the absence of engine or aircraft sales, but core business excluding whole asset sales grew 18.5%.

• Adjusted EBITDA improved to $9.5 million (13.3% of sales) from $8.2 million (10.0% of sales) year-over-year, reflecting higher leasing, USM activity, and cost reductions.

• Gross margin increased to 30.2% from 28.6% year-over-year, driven by improved sales mix, higher leasing revenue, and cost controls.

• Net loss for Q3 2025 was $0.1 million versus net income of $0.5 million in Q3 2024; adjusted net income was $1.5 million compared to $1.8 million.

• Placed a second 757 freighter on lease, with strong customer interest and active discussions for remaining converted aircraft.

Financial highlights

• Q3 2025 revenue: $71.2 million (down 13.9% year-over-year); nine-month revenue: $244.3 million (down 2.4%).

• Adjusted EBITDA rose to $9.5 million, up from $8.2 million year-over-year.

• Operating income was $2.9 million, up from $2.0 million year-over-year.

• SG&A expenses fell to $18.6 million from $21.7 million, reflecting cost reduction efforts.

• Cash and cash equivalents at quarter end were $5.3 million, with total liquidity of $58.9 million.

Outlook and guidance

• Excluding flight equipment sales, full-year revenue is expected to exceed 2024 levels, with a greater increase in EBITDA year-over-year.

• Expansion projects at air structures and pneumatics facilities are complete, expected to drive significant revenue growth in 2026 and beyond.

• Strong customer interest in remaining 757 converted aircraft and AerSafe™ products, with regulatory deadlines supporting demand through 2026.

• Management believes current liquidity and credit facilities are sufficient for operations over the next twelve months.

• Growing pipeline at Goodyear MRO facility expected to extend through 2026 with longer-term contracts.