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BUSINESS SEGMENTS (Tables) | 9 Months Ended
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Sep. 30, 2021
BUSINESS SEGMENTS |
Summary of selected financial information for each segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30, | ​
​ | ​ | 2021 |  | 2020 | ​ | 2021 |  | 2020 |
Revenues | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​
Asset Management Solutions | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​
Aircraft | ​ | $ | 15,204 | ​ | $ | 20,979 | ​ | $ | 49,925 | ​ | $ | 45,819 | ​
Engine | ​ |  | 33,672 | ​ |  | 8,673 | ​ |  | 88,502 | ​ |  | 35,515 | ​
​ | ​ |  | 48,876 | ​ |  | 29,652 | ​ |  | 138,427 | ​ |  | 81,334 | ​
Tech Ops | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
MRO services | ​ |  | 21,683 | ​ |  | 26,516 | ​ |  | 78,116 | ​ |  | 74,193 | ​
Product sales | ​ |  | 2,739 | ​ |  | 897 | ​ |  | 7,111 | ​ |  | 4,029 | ​
​ | ​ |  | 24,422 | ​ |  | 27,413 | ​ |  | 85,227 | ​ |  | 78,222 | ​
Total | ​ | $ | 73,298 | ​ | $ | 57,065 | ​ | $ | 223,654 | ​ | $ | 159,556 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30, | ​
​ | ​ | 2021 | ​ | 2020 | ​ | 2021 | ​ | 2020 | ​
Gross profit | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
Asset Management Solutions | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
Aircraft | ​ | $ | 6,729 | ​ | $ | 14,374 | ​ | $ | 16,370 | ​ | $ | 9,110 | ​
Engine | ​ |  | 10,084 | ​ |  | 4,343 | ​ |  | 33,129 | ​ |  | 13,465 | ​
​ | ​ |  | 16,813 | ​ |  | 18,717 | ​ |  | 49,499 | ​ |  | 22,575 | ​
Tech Ops | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
MRO services | ​ |  | 6,407 | ​ |  | 7,686 | ​ |  | 22,481 | ​ |  | 16,823 | ​
Product sales | ​ |  | 1,412 | ​ |  | 102 | ​ |  | 3,225 | ​ |  | 265 | ​
​ | ​ |  | 7,819 | ​ |  | 7,788 | ​ |  | 25,706 | ​ |  | 17,088 | ​
Total | ​ | $ | 24,632 | ​ | $ | 26,505 | ​ | $ | 75,205 | ​ | $ | 39,663 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2021 | ​ | December 31, 2020 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Asset Management Solutions | ​ | $ | 325,750 | ​ | $ | 277,016 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tech Ops | ​ | ​ | 113,528 | ​ | ​ | 108,622 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate | ​ | ​ | 711 | ​ | ​ | 3,492 | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | $ | 439,989 | ​ | $ | 389,130 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Summary of reconciles segment gross profit to net income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months Ended September 30, |  | Nine Months Ended September 30, | ​
​ | ​ | 2021 |  | 2020 | ​ | 2021 |  | 2020 |
Segment gross profit | ​ | $ | 24,632 | ​ | $ | 26,505 | ​ | $ | 75,205 | ​ | $ | 39,663 | ​
Selling, general and administrative expenses | ​ |  | (22,803) | ​ |  | (13,377) | ​ |  | (53,079) | ​ |  | (40,614) | ​
Payroll support program proceeds | ​ |  | - | ​ |  | 6,347 | ​ |  | 14,768 | ​ |  | 12,693 | ​
Transaction costs | ​ |  | - | ​ |  | (219) | ​ |  | - | ​ |  | (434) | ​
Interest expense, net | ​ |  | (241) | ​ |  | (267) | ​ |  | (750) | ​ |  | (1,307) | ​
Other income, net | ​ |  | 9 | ​ |  | 206 | ​ |  | 258 | ​ |  | 358 | ​
Change in fair value of warrant liability | ​ | ​ | (2,104) | ​ | ​ | - | ​ | ​ | (2,735) | ​ | ​ | - | ​
Income tax expense | ​ |  | (1,129) | ​ |  | (4,476) | ​ |  | (8,737) | ​ |  | (2,519) | ​
Net (loss) income | ​ | $ | (1,636) | ​ | $ | 14,719 | ​ | $ | 24,930 | ​ | $ | 7,840 | ​
Summary of intersegment revenues | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
​ | ​ | 2021 |  | 2020 |  | 2021 |  | 2020 |
Asset Management Solutions | ​ | $ | 959 | ​ | $ | 945 | ​ | $ | 2,942 | ​ | $ | 2,047 | ​
Tech Ops | ​ |  | 6,015 | ​ |  | 6 | ​ |  | 14,747 | ​ |  | 1,467 | ​
Total intersegment revenues | ​ | $ | 6,974 | ​ | $ | 951 | ​ | $ | 17,689 | ​ | $ | 3,514 | ​

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