Sky Harbour Group Corp (SKYH) SEC Filings & Earnings Calls

Dilution from issuance of 1M new shares.

“sold 1,000,000 shares of its Class A common stock”

Dilution risk from equity issuance.

“1M new shares issued at $10.00”

Insider selling / reduced large holder commitment

“On August 11, 2026, the Reporting Person sold an aggregate of 360,000 shares of Class A Stock at a price of $10.00 per share, for total gross proceeds of $3,600,000” · word for word

Dilution risk from new share issuance

“Issuance of 4,000,000 shares of Class A common stock at $10.00 per share.”

Fuel Price Volatility

“During the first half of 2026, fuel prices increased significantly as a result of ongoing geopolitical events and market disruptions.” · word for word

Tariff Impact on Construction Costs

“The imposition of or increase in tariffs on construction materials such as steel, and other potential changes in U.S. and global trade policy, could substantially increase the cost of and limit the availability of construction materials.” · word for word

Interest Rate Risk

“Interest rates remain relatively high and there can be no certainty with respect to the occurrence, timing, or magnitude any future interest rate decisions by the Federal Reserve, and thus no certainty with respect to the ultimate impact on our borrowing costs.” · word for word

Financing Risk

“Our ability to raise additional equity and/or debt financing will be subject to a number of risks, including our ability to obtain financing upon reasonable terms, if at all.” · word for word

Construction and development risks; reliance on financing for growth.

“Multiple construction projects underway; reliance on JPM Facility and bond proceeds.”

Debt financing for construction project increases leverage; cash contribution requirement may strain liquidity.

“borrowing not to exceed $20 million under the Term Loan Facility; cash contributions of not less than $20 million” · word for word

Construction Cost Overruns and Delays

“Our projections associated with the commencement and completion of construction, estimated total construction cost...are inherently subjective and require judgement to estimate.” · word for word

Interest Rate and Refinancing Risk

“Elevated interest rates would impact our overall economic performance. In addition, we are subject to credit spreads demanded by fixed income investors.” · word for word

Dependence on Future Financing

“Our ability to raise additional equity and/or debt financing will be subject to a number of risks, including our ability to obtain financing upon reasonable terms, if at all.” · word for word

Construction and development risk: multiple projects under construction with schedule dependencies; any delays could impact revenue and occupancy targets.

“ADS Phase 2 is on schedule, expected to open prior to the end of the year.” · word for word

Financing risk: reliance on JPM facility and bond proceeds for construction; any disruption in capital markets could affect project funding.

“access to $180.6 million of the committed JP Morgan drawdown construction bank facility” · word for word

Controlled company governance risk

“Company qualifies as a controlled company; does not have a compensation committee consisting entirely of independent directors.”

Related party transaction risk

“Related party transactions with CEO's entity Echo Echo and director Rozek.”

Construction Cost Overruns

“Inflationary and supply chain pressures have previously led to increased construction materials costs, specifically associated with steel, concrete, and other materials.” · word for word

Tariff Impact on Materials

“The imposition of or increase in tariffs on construction materials such as steel, and other potential changes in U.S. and global trade policy, could substantially increase the cost of and limit the availability of construction materials.” · word for word

Tenant Default Risk

“If a tenant defaults under its lease, we may be forced to pursue alternative arrangements with those tenants in order to recover amounts due under the leases or pursue litigation in order to collect payments from tenants who are unable make their lease payments as they come due.” · word for word

Ground Lease Renewal Risk

“Airport authorities may choose not to renew a lease at all or to only renew the lease on terms that are unfavorable to us.” · word for word

Debt Refinancing Risk

“If interest rates are higher when we refinance our debt, our income and cash flow could be reduced as a result of increased debt service requirements, which may hinder our ability to raise more capital by issuing more stock or by borrowing money.” · word for word

Construction and development risks: delays, cost overruns, and dependency on financing.

“The Company has significantly increased resources dedicated to development and construction in anticipation of the upcoming surge in activity.” · word for word

Occupancy risk at newer campuses: APA at only 35% occupancy.

“the newer campuses at DVT, ADS and APA at 77%, 84%, and 35% respectively as of March 16th, 2026.”

Construction Cost Overruns

“The anticipated retrofitting efforts were also applied to ADS Phase I, and we believe the aggregate additional cost of such retrofits totaled between $26 to $28 million.” · word for word

Interest Rate Sensitivity

“We expect to issue additional debt to finance future site developments and elevated interest rates would impact our overall economic performance.” · word for word

Financing Dependency

“Our ability to raise additional equity and/or debt financing will be subject to a number of risks, including our ability to obtain financing upon reasonable terms, if at all...” · word for word

Occupancy Risk

“Any significant decline in our customer base, or in our rate of growth, could have a material adverse effect on our business and results of operations...” · word for word

Construction and development risks: delays in completion of campuses could impact revenue and cash flow breakeven timeline.

“Miami Opa Locka (OPF) Phase 2 expected completion Q2 2026; Bradley International Airport (BDL) broke ground in October 2025, expected completion Q4 2026.”

Concentration risk: JV partnership at Miami OPF is a single large transaction; closing conditions related to construction completion and operational certification.

“The partnership is subject to closing conditions which relate primarily to construction completion and operational certification. Closing is expected at the time of completion of OPF Phase 2 in early Q2 2026.” · word for word

Liquidity risk: Consolidated net cash used in operating activities still negative, though improving.

“Net cash used in operating activities was approximately $0.9 million for the quarter.” · word for word