Air Industries Group (AIRI) Financial Statements (2024 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)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments  1,125281192930364
Cash and cash equivalents  1,125281192930364
Receivables  9,483   
Inventory, net of allowances, customer advances and progress billings32,76732,44431,82133,40832,98831,999
Inventory32,76732,44431,82133,40832,98831,999
Prepaid expense292928252722
Capitalized contract cost296296296   
Other undisclosed current assets9,2017,5613078,9089,3047,816
Total current assets:42,29341,45542,21642,53343,24940,201
Noncurrent Assets
Operating lease, right-of-use asset2,1782,3272,4732,6152,7532,887
Property, plant and equipment9,4208,9488,5938,4788,4238,169
Intangible assets, net (including goodwill)    163163163
Goodwill    163163163
Deferred costs4936275329891,0201,026
Total noncurrent assets:12,09111,90211,59812,24512,35912,245
TOTAL ASSETS:54,38453,35753,81454,77855,60852,446
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:8,2697,6897,5426,9797,7817,042
Other undisclosed accounts payable and accrued liabilities8,2697,6897,5426,9797,7817,042
Debt14,95114,45014,47714,82014,06613,278
Disposal group, including discontinued operation      5
Other liabilities828803778754  
Other undisclosed current liabilities5055468191,6432,5002,475
Total current liabilities:24,55323,48823,61624,19624,34722,800
Noncurrent Liabilities
Long-term debt and lease obligation11,54311,20210,7916,6707,0563,055
Long-term debt, excluding current maturities11,54311,20210,7914,0014,191 
Liabilities, other than long-term debt2,0362,2522,4636,1626,4126,412
Due to related parties 6,1626,4126,412
Operating lease, liability2,0362,2522,4632,6692,8653,055
Other undisclosed noncurrent liabilities86951051141242,698
Total noncurrent liabilities:13,66513,54913,35912,94613,59212,165
Total liabilities:38,21837,03736,97537,14237,93934,965
Equity
Equity, attributable to parent16,16616,32016,83917,63617,66917,481
Common stock33333232
Additional paid in capital82,78682,54582,44682,34482,20682,011
Accumulated deficit(66,623)(66,228)(65,610)(64,711)(64,569)(64,562)
Total equity:16,16616,32016,83917,63617,66917,481
TOTAL LIABILITIES AND EQUITY:54,38453,35753,81454,77855,60852,446

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues13,20512,54913,89013,27814,00812,062
Cost of revenue(11,035)(10,669)(13,180)(11,036)(11,586)(9,984)
Cost of goods and services sold(11,035)(10,669)    
Gross profit:2,1701,8807102,2422,4222,078
Operating expenses(2,098)(2,038)(1,530)(2,073)(2,172)(1,871)
Operating income (loss):72(158)(820)169250207
Nonoperating income   7123288
Interest and debt expense(118)(118)(118)(118)(125)(125)
Income (loss) from continuing operations before equity method investments, income taxes:(46)(276)(931)63157170
Other undisclosed income (loss) from continuing operations before income taxes(349)(342)32(205)(164)(198)
Loss from continuing operations:(395)(618)(899)(142)(7)(28)
Loss before gain (loss) on sale of properties:(142)(7)(28)
Net loss available to common stockholders, diluted:(395)(618)(899)(142)(7)(28)

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net loss:(395)(618)(899)(142)(7)(28)
Comprehensive loss, net of tax, attributable to parent:(395)(618)(899)(142)(7)(28)

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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