Sky Harbour Posts First Positive Operating Cash Flow, Reaffirms 2026 Guidance
SKYH sits 36% above its 52-week low of $8.22.
Summary
Sky Harbour reported Q2 2026 results with 50% revenue growth, first-ever positive operating cash flow, and reaffirmed 2026 guidance. The company also closed a $40M direct placement at $10.00/share with two new strategic investors.
Key Events · Earnings and Guidance · SKYH
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First Positive Operating Cash Flow
Q2 2026 net cash provided by operating activities was $0.5 million, versus a $3.9 million use in Q1 2026 — the first quarter of recurrent positive operating cash flow in company history.
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Revenue Growth Accelerates
Consolidated revenues increased approximately 50% year-over-year and 13% sequentially. Obligated Group revenues grew 79% year-over-year and 22% sequentially.
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Liquidity and Covenant Compliance
Consolidated cash and US Treasuries totaled $206.9 million with an additional $130.2 million undrawn under the JPM facility. Debt service coverage tests are compliant with all applicable covenant ratios.
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2026 Guidance Reaffirmed
Company expects consolidated revenues of $42-46 million on an annualized run-rate basis and Adjusted EBITDA of $4-6 million on an annualized run-rate basis by year-end 2026.
Analysis · SKYH · Real Estate & Construction
Sky Harbour delivered its first quarter of positive operating cash flow in company history, with Q2 2026 net cash from operations of $0.5 million versus a $3.9 million use in Q1. Consolidated revenues grew 50% year-over-year, and the company reaffirmed its 2026 year-end guidance of $42-46 million in annualized revenue run-rate and $4-6 million in Adjusted EBITDA run-rate. The company also disclosed a fortress liquidity position of $206.9 million in cash and Treasuries plus $130.2 million in undrawn JPM facility capacity, and confirmed debt service covenant compliance. The $40 million registered direct placement at $10.00 per share, closed earlier today, brings in two new long-term strategic investors and will fund approximately 400,000 rentable square feet of additional hangar projects when paired with expanded tax-exempt debt.
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In the 30 days to Oct 1, 2026, 36.1% of the 1052 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.56%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, SKYH was trading at $11.15 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $879.3M. The 52-week trading range was $8.22 to $11.70. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.