Sky Harbour Group Corporation (NYSE: SKYH) reported consolidated revenue of $27.5 million for fiscal year 2025, an 87% increase year over year, according to an update from Stonegate Capital Partners. The growth was driven by a full year of contribution from CMA, increased occupancy at BNA, OPF, and SJC, and the commencement of operations at DVT, ADS, and APA during 2025. Rental revenue accounted for $21.6 million, while fuel revenue contributed $6.0 million.
Management noted that leasing activity at Phoenix and Dallas campuses is progressing faster than anticipated, while Denver initially lagged but is now improving. Early lease-up activity often involves short-term leases at lower rates to boost occupancy, followed by transitioning tenants to longer-term leases at target pricing. For future campuses, the company highlighted an active pre-leasing strategy, particularly at Bradley, where pre-leasing rents are exceeding existing campus averages due to long-term lease commitments.
The company continues its aggressive development pipeline, 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 improved meaningfully, with a gross profit margin of 7.6% and adjusted EBITDA reaching run-rate breakeven in December 2025.
Stonegate Capital Partners, a capital markets advisory firm, provided the update. The full announcement, including downloadable images and additional details, is available at Stonegate Inc. and distributed by Reportable, Inc.
The results underscore Sky Harbour's ability to scale its aviation hangar and campus model, capitalizing on demand for private aviation infrastructure. With revenue growth accelerating and a clear path to profitability, the company is positioned to benefit from increasing aircraft ownership and hangar demand. The pre-leasing success at Bradley and other sites suggests strong market appetite, while the secured funding for future projects provides visibility into sustained expansion.
