AIRI on NYSE
AIR INDUSTRIES GROUP
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Last updated Oct 16, 2026.
Overview
Compare with EHang, CPI AEROSTRUCTURES INC or Park Electrochemical Corp, or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
17.1%Gross margin3
-0.7%Operating margin3
-2.7%Net margin3
-13.0%Revenue growth, 20253
-6.8%Return on equity3
0.08×Debt to equity3
-$4.7MFree cash flow3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Military brought in 58% of the revenue AIR INDUSTRIES GROUP broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Military | $38.5M | $27.9M |
| Commercial Real Estate | $16.6M | $20.0M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue83¢$39.7M
- Other costs14¢$6.6M
- Interest3¢$1.5M
- Income tax0¢$131.0K
Out of $47.9M in revenue.3 The company lost money this year.
Financial statements
Every line of the income statement in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net Sales | $47.9M | $55.1M |
| Cost of Sales | $39.7M | $46.2M |
| Gross Profit | $8.2M | $8.9M |
| Operating Expenses | $8.5M | $8.5M |
| (Loss)/Income from Operations | -$338.0K | $459.0K |
| Interest Expense | -$1.5M | -$1.4M |
| Interest Expense - Related Parties | -$356.0K | -$472.0K |
| Other Income, Net | $743.0K | $68.0K |
| Loss before Benefit From Income Taxes | -$1.4M | -$1.4M |
| Benefit from Income Taxes | -$131.0K | |
| Net Loss | -$1.3M | -$1.4M |
| Loss per share - Basic and diluted (in Dollars per share) | -$0.31 | -$0.41 |
| Loss per share - Diluted (in Dollars per share) | -$0.31 | -$0.41 |
| Weighted Average Shares Outstanding - Basic and diluted (in Shares) | 4.2M shares | 3.3M shares |
| Weighted Average Shares Outstanding - Diluted (in Shares) | 4.2M shares | 3.3M shares |
Every line of the balance sheet in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $680.0K | $753.0K | |
| Restricted Cash | $3.9M | ||
| Accounts Receivable, Net of Allowance for Credit Losses of $464,000 and $396,000 | $7.1M | $8.9M | |
| Inventory | $34.3M | $28.8M | |
| Prepaid Expenses and Other Current Assets | $766.0K | $371.0K | |
| Contract Costs Receivable | $296.0K | ||
| Prepaid Taxes | $76.0K | $56.0K | |
| Total Current Assets | $46.8M | $39.2M | |
| Property and Equipment, Net | $9.5M | $8.8M | |
| Finance Lease Right-Of-Use-Assets | $916.0K | $1.1M | |
| Operating Lease Right-Of-Use-Assets | $514.0K | $1.2M | |
| Deferred Financing Costs, Net, Deposits and Other Assets | $614.0K | $712.0K | |
| TOTAL ASSETS | $58.3M | $51.0M | |
| Debt | $23.7M | $18.4M | |
| Accounts Payable and Accrued Expenses | $7.9M | $7.0M | |
| Operating Lease Liabilities | $702.0K | $881.0K | |
| Deferred Gain on Sale | $28.0K | $38.0K | |
| Customer Deposits | $391.0K | $1.1M | |
| Total Current Liabilities | $37.6M | $27.4M | |
| Debt | $1.5M | $1.8M | |
| Operating Lease Liabilities | $702.0K | ||
| Deferred Gain on Sale | $29.0K | ||
| TOTAL LIABILITIES | $39.1M | $36.1M | |
| Common Stock - Par Value $.001 - Authorized 6,000,000 shares, 4,776,454 and 3,474,970 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $5.0K | $3.0K | |
| Additional Paid-In Capital | $89.6M | $84.1M | |
| Accumulated Deficit | -$70.4M | -$69.1M | |
| TOTAL STOCKHOLDERS EQUITY | $19.2M | $14.9M | $15.2M |
| TOTAL LIABILITIES AND STOCKHOLDERS EQUITY | $58.3M | $51.0M | |
| Accounts Receivable, Net of Allowance for Credit Losses | $464.0K | $396.0K | $344.0K |
| Preferred stock, par value (in Dollars per share) | $0.00 | $0.00 | |
| Preferred stock, shares authorized (in Shares) | 3.0M shares | 3.0M shares | |
| Preferred stock, shares outstanding (in Shares) | 0 shares | 0 shares | |
| Common stock, par value (in Dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in Shares) | 6.0M shares | 6.0M shares | |
| Common stock, shares issued (in Shares) | 4.8M shares | 3.5M shares | |
| Common stock, shares outstanding (in Shares) | 4.8M shares | 3.5M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net Loss | -$1.3M | -$1.4M |
| Depreciation of property and equipment | $2.5M | $2.1M |
| Stock-based Compensation | $1.0M | $797.0K |
| Amortization of Finance Lease Right-of-Use Assets | $197.0K | $176.0K |
| Amortization of Operating Lease Right-of-Use Assets | $676.0K | $676.0K |
| Deferred gain on sale of real estate | -$39.0K | -$38.0K |
| (Gain)/Loss on sale of equipment | -$68.0K | -$15.0K |
| Allowances for Credit Losses | $68.0K | $52.0K |
| Amortization of deferred financing costs | $69.0K | $68.0K |
| Accounts receivable | $1.8M | -$1.1M |
| Inventory | -$5.5M | $1.0M |
| Prepaid expenses and other current assets | -$395.0K | -$74.0K |
| Contract costs receivable | $296.0K | |
| Prepaid taxes | -$20.0K | -$19.0K |
| Deposits and other assets | $29.0K | $375.0K |
| Accounts payable and accrued expenses | $888.0K | $961.0K |
| Operating lease liabilities | -$881.0K | -$879.0K |
| Customer deposits | -$724.0K | -$2.4M |
| NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES | -$1.4M | $324.0K |
| Purchase of property and equipment | -$3.3M | -$2.3M |
| Proceeds from sale of fixed assets | $200.0K | $16.0K |
| NET CASH USED IN INVESTING ACTIVITIES | -$3.1M | -$2.3M |
| Note payable - revolver - net - Current Credit Facility | $4.7M | $2.1M |
| Proceeds from term loan - Current Credit Facility | $1.6M | $1.0M |
| Proceeds from term loan - Solar Facility | $8.0K | |
| Net proceeds from Common Stock issued for cash | $4.6M | $327.0K |
| Payments for taxes related to net share settlement of equity awards | -$127.0K | |
| Payments of subordinated Notes - Related party | -$1.3M | |
| Payments of term loan - Current Credit Facility | -$1.0M | -$869.0K |
| Payments of finance lease obligations | -$223.0K | -$196.0K |
| Payments of loan payable - financed asset | -$9.0K | -$9.0K |
| NET CASH PROVIDED BY FINANCING ACTIVITIES | $8.3M | $2.4M |
| NET INCREASE IN CASH | $3.9M | $407.0K |
| Cash paid during the year for interest | $1.8M | $1.8M |
| Cash paid during the year for taxes | $21.0K | $20.0K |
| Financing from Solar Credit Facility directly to contractor | $533.0K | |
| Acquisition of financed lease asset | $319.0K |
Former names
Recent filings
- Oct 2, 2026S-4/A REGISTRATION STATEMENT
- Aug 31, 20264
- Aug 24, 20268-K CURRENT REPORT
- Aug 12, 202610-Q QUARTERLY REPORT
- Aug 3, 20268-K CURRENT REPORT
- Jul 22, 2026S-4 REGISTRATION STATEMENT
- Jul 9, 20268-K CURRENT REPORT
- Jun 12, 20268-K CURRENT REPORT
- Jun 1, 2026SD SPECIALIZED DISCLOSURE REPORT
- May 28, 2026SCHEDULE 13D/A
- May 13, 202610-Q QUARTERLY REPORT
- May 5, 2026PREM14A PRELIMINARY PROXY STATEMENT
- Apr 28, 20264
- Apr 13, 20264 OWNERSHIP DOCUMENT
- Mar 27, 202610-K ANNUAL REPORT
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
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