Net loss of $24.7 million reported for the quarter.
Agreement to sell Flyover Attractions for $78.4 million.
Repurchased $25.2 million of common stock and increased authorization by $50 million.
Operating expenses rose 20.9% and interest expense increased 81% YoY.
The Q1 2026 filing reveals a company in the midst of a high-stakes transition, balancing aggressive growth and portfolio optimization against a backdrop of significant net losses and debt. The substantial increase in revenue and the successful integration of Tabacón suggest that the core business model is resonating with travelers and that pricing power remains intact. However, the gap between top-line growth and bottom-line profitability persists, with the company reporting a net loss of $24.7 million for the quarter. Investors are essentially betting on a successful liquidity bridge. If the Flyover Attractions sale closes as expected in May 2026 and the company can transition its increased revenue into positive operating cash flow, the current debt levels may be manageable. Conversely, if the cash burn continues to accelerate and the asset sale is delayed, the aggressive share repurchase program may be viewed as a premature use of capital. The overall impact of the filing is a mixture of operational strength and financial fragility.