Air Industries Group (AIRI) Financial Statements (2025 and earlier)

Company Profile

Business Address 1460 FIFTH AVENUE
BAY SHORE, NY 11706
State of Incorp. NV
Fiscal Year End December 31
Industry (SIC) 3728 - Aircraft Parts and Auxiliary Equipment, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)
Annual | Quarterly

9/30/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments3462816272,5051,2942,012
Cash and cash equivalent3462816272,5051,2942,012
Receivables7,8929,48311,0679,7628,7177,046
Inventory, net of allowances, customer advances and progress billings29,85131,82129,53232,12028,64629,051
Inventory29,85131,82129,53232,12028,64629,051
Prepaid expense37282215 49
Capitalized contract cost296296    
Other undisclosed current assets297307(368)(791)(412)(110)
Total current assets:38,71942,21640,88043,61138,24538,048
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization970    ✕
Operating lease, right-of-use asset1,8662,4733,018  ✕
Property, plant and equipment8,0488,5938,4049,5817,5788,777
Intangible assets, net (including goodwill)   163163438163
Goodwill   163163163163
Intangible assets, net (excluding goodwill)     275 
Deferred costs1,1125329609121,481768
Other undisclosed noncurrent assets    3,5103,348 
Total noncurrent assets:11,99611,59812,54514,16612,8459,708
TOTAL ASSETS:50,71553,81453,42557,77751,09047,756
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:6,0917,5426,7238,6828,1058,723
Taxes payable✕✕✕  2720
Employee-related liabilities✕✕✕852663  
Accounts payable 5,461 5,4607,2406,5766,782
Accrued liabilities 630 4113371,5291,941
Other undisclosed accounts payable and accrued liabilities 7,542 442(27)(20)
Debt16,20114,47714,11216,47516,379 
Deferred compensation liability    314  
Disposal group, including discontinued operation   59   
Other liabilities  778    
Due to related parties✕✕  4006,8622,552
Other undisclosed current liabilities4,3108192,5081,4561,27617,732
Total current liabilities:26,60223,61623,40227,32732,62229,007
Noncurrent Liabilities
Long-term debt and lease obligation1,83110,7913,2413,9274,235 
Long-term debt, excluding current maturities1,11210,791    
Finance lease, liability719    ✕
Liabilities, other than long-term debt1,6492,4636,412  2,283
Deferred gain on sale of property67     
Due to related parties✕✕ 6,412  2,283
Operating lease, liability1,5822,4633,2413,9274,235✕
Other undisclosed noncurrent liabilities5,4431052,9817,4874,0274,860
Total noncurrent liabilities:8,92313,35912,63415,3418,2627,143
Total liabilities:35,52536,97536,03642,66840,88436,150
Equity
Equity, attributable to parent15,19016,83917,38915,10910,20611,606
Common stock3332322928
Additional paid in capital82,92882,44681,89181,23877,43476,101
Accumulated deficit(67,741)(65,610)(64,534)(66,161)(67,257)(64,523)
Total equity:15,19016,83917,38915,10910,20611,606
TOTAL LIABILITIES AND EQUITY:50,71553,81453,42557,77751,09047,756

Income Statement (P&L) ($ in thousands)
Annual | Quarterly

9/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues51,51653,23858,93950,09754,57346,309
Cost of revenue(44,088)(45,786)(48,686)(43,585)(45,431)(40,895)
Cost of product and service sold(44,088)(45,786)(135)(91)(10)(99)
Gross profit:7,4287,45210,2536,5129,1425,414
Operating expenses(7,723)(7,646)(7,766)(7,951)(8,539)(8,839)
Other undisclosed operating loss     (275)(2,538)
Operating income (loss):(295)(194)2,487(1,439)328(5,963)
Nonoperating income84139405430672278
Investment income, nonoperating      1,430
Other nonoperating income84     
Interest and debt expense(1,448)(487)(460)(526) (212)
Other undisclosed income from continuing operations before equity method investments, income taxes      
Income (loss) from continuing operations before equity method investments, income taxes:(1,659)(542)2,432(1,535)1,000(5,897)
Other undisclosed income (loss) from continuing operations before income taxes(472)(534)(805)1,449(3,561)(3,709)
Income (loss) from continuing operations before income taxes:(2,131)(1,076)1,627(86)(2,561)(9,606)
Income tax expense (benefit)    1,412(37)(3)
Income (loss) from continuing operations:(2,131)(1,076)1,6271,326(2,598)(9,609)
Income (loss) before gain (loss) on sale of properties:✕✕✕1,6271,096(2,732)(10,992)
Loss from discontinued operations    (230)(134)(1,383)
Net income (loss) attributable to parent:(2,131)(1,076)1,6271,096(2,732)(10,992)
Other undisclosed net income available to common stockholders, basic   322878  
Net income (loss) available to common stockholders, basic:(2,131)(1,076)1,9491,974(2,732)(10,992)
Interest on convertible debt   322499  
Net income (loss) available to common stockholders, diluted:(2,131)(1,076)2,2712,473(2,732)(10,992)

Comprehensive Income ($ in thousands)
Annual | Quarterly

9/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):(2,131)(1,076)1,6271,096(2,732)(10,992)
Comprehensive income (loss), net of tax, attributable to parent:(2,131)(1,076)1,6271,096(2,732)(10,992)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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