Filing Flows › Sky Harbour Group (SKYH) › Q4 2025
Sky Harbour Group (SKYH) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 19, 2026
Sky Harbour Group (SKYH) reported revenue of $8.1M for the fourth quarter 2025 (Q4 2025), +74% from a year earlier and +10% from the quarter before. Operating margin was -74.4%, net earnings $6.7M (83.7% of revenue).
Sky Harbour Group, Q4 2025: revenue $8.1M (+74% year over year), operating margin -74.4%, net earnings $6.7M, operating cash flow $4.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.1M | +10% | +74% |
| Operating profit | −$6.0M | — | — |
| Net earnings | $6.7M | — | — |
| Operating cash flow | $4.6M | — | — |
| Free cash flow | $2.7M | — | — |
What changed
Revenue was $8.1M in Q4 2025, up 74% year over year and up 10% from the previous quarter.
Operating costs exceeded revenue by $6.0M, an operating margin of -74.4%. Total costs grew 40% against revenue growth of 74%. The fastest-growing cost line was Other operating costs (+43%). Net earnings were $9.6M ($6.7M including minority interests, which bore $2.9M of losses). The effective tax rate was 0.0%. Non-operating items added $12.7M, 189% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $4.6M, 68% of net income including minority interests. Non-cash charges added back $2.0M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items used $5.4M. Capital expenditures of $1.8M left free cash flow of $2.7M.
Questions
What was Sky Harbour Group's revenue in the fourth quarter 2025?
Sky Harbour Group (SKYH) reported revenue of $8.1M for the fourth quarter 2025 (Q4 2025), +74% from a year earlier and +10% from the quarter before.
Was Sky Harbour Group profitable in the fourth quarter 2025?
Operating loss was $6.0M (-74.4% of revenue) and net earnings $6.7M.
Source: Sky Harbour Group 10-K on SEC EDGAR.