CVU on NYSE
CPI AEROSTRUCTURES INC
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
15.2%Gross margin3
-0.3%Operating margin3
-1.2%Net margin3
-14.6%Revenue growth, 20253
-3.3%Return on equity3
0.39×Debt to equity3
-$5.3MFree cash flow3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Government subcontracts brought in 80% of the revenue CPI AEROSTRUCTURES INC broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Government subcontracts | $64.7M | $55.5M |
| Prime government contracts | $11.7M | $7.4M |
| Commercial Contracts | $4.7M | $6.3M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue83¢$58.7M
- Selling, general and admin15¢$10.7M
- Income tax1¢$900.9K
Out of $69.3M in revenue.3 The company lost money this year.
Financial statements
Every line of the income statement in the latest annual report, as filed.10
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Revenue | $69.3M | $81.1M |
| Cost of sales | $58.7M | $63.8M |
| Gross profit | $10.6M | $17.2M |
| Selling, general and administrative expenses | $10.7M | $10.5M |
| (Loss) income from operations | -$176.4K | $6.7M |
| Interest expense | -$1.6M | -$2.3M |
| (Loss) income before benefit (provision) for income taxes | -$1.7M | $4.4M |
| Benefit (provision) for income taxes | $900.9K | -$1.1M |
| Net (loss) income | -$843.4K | $3.3M |
| (Loss) income per common share-basic | -$0.07 | $0.26 |
| (Loss) income per common share-diluted | -$0.07 | $0.26 |
| Basic | 12.8M shares | 12.6M shares |
| Diluted | 12.8M shares | 12.7M shares |
Every line of the balance sheet in the latest annual report, as filed.10
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $899.2K | $5.5M | |
| Accounts receivable, net | $5.8M | $3.7M | $4.4M |
| Contract assets, net | $33.7M | $32.8M | |
| Inventory | $800.8K | $918.3K | |
| Prepaid expenses and other current assets | $2.3M | $634.5K | |
| Total Current Assets | $43.4M | $43.6M | |
| Operating lease right-of-use assets | $9.5M | $2.9M | |
| Property and equipment, net | $412.6K | $767.9K | |
| Deferred tax asset, net | $19.9M | $18.8M | |
| Goodwill | $1.8M | $1.8M | |
| Other assets | $229.7K | $143.6K | |
| Total Assets | $75.2M | $68.0M | |
| Accounts payable | $14.7M | $11.1M | |
| Accrued expenses | $4.8M | $7.9M | |
| Contract liabilities | $1.6M | $2.4M | |
| Loss reserve | $138.4K | $22.8K | |
| Current portion of line of credit | $2.8M | ||
| Current portion of long-term debt | $187.5K | $26.5K | |
| Operating lease liabilities | $1.4M | $2.2M | |
| Income taxes payable | $142.5K | $58.2K | |
| Total Current Liabilities | $23.0M | $26.5M | |
| Line of credit, net of current portion | $8.4M | $14.6M | |
| Long-term operating lease liabilities | $8.4M | $938.4K | |
| Long-term debt, net of current portion | $9.7M | ||
| Total Liabilities | $49.4M | $42.0M | |
| Common stock - $.001 par value; authorized 50,000,000 shares, 13,155,061 and 12,978,741 shares, respectively, issued and outstanding | $13.2K | $13.0K | |
| Additional paid-in capital | $75.1M | $74.4M | |
| Accumulated deficit | -$49.3M | -$48.5M | |
| Total Shareholders Equity | $25.8M | $25.9M | $22.1M |
| Total Liabilities and Shareholders Equity | $75.2M | $68.0M | |
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Preferred stock, authorized | 5.0M shares | 5.0M shares | |
| Preferred stock, issued | 0 shares | 0 shares | |
| Preferred stock, outstanding | 0 shares | 0 shares | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, authorized | 50.0M shares | 50.0M shares | |
| Common stock, issued | 13.2M shares | 13.0M shares | |
| Common stock, outstanding | 13.2M shares | 13.0M 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.10
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net (loss) income | -$843.4K | $3.3M |
| Depreciation and amortization | $420.4K | $430.0K |
| Amortization of debt issuance costs | $75.3K | $46.2K |
| Stock-based compensation expense | $806.6K | $604.7K |
| Deferred income taxes | -$1.1M | $1.1M |
| Provision for credit losses | -$69.4K | $144.6K |
| (Increase) decrease in accounts receivable | -$2.0M | $491.3K |
| (Increase) decrease in contract assets | -$838.1K | $2.5M |
| Decrease in inventory | $117.5K | $518.4K |
| (Increase) decrease in prepaid expenses and other current assets | -$1.6M | $83.5K |
| Decrease in operating right-of-use assets | $1.5M | $1.9M |
| (Decrease) increase in accounts payable and accrued expenses | $380.0K | -$1.7M |
| (Decrease) in contract liabilities | -$802.3K | -$3.5M |
| (Decrease) in lease liabilities | -$1.5M | -$2.0M |
| Increase (decrease) in loss reserve | $115.6K | -$314.5K |
| Increase in income taxes payable | $84.3K | $28.1K |
| Net cash (used in) provided by operating activities | -$5.2M | $3.6M |
| Purchase of property and equipment | -$65.0K | -$403.9K |
| Net cash used in investing activities | -$65.0K | -$403.9K |
| Repayments on line of credit | -$17.4M | -$2.6M |
| Repayments on long-term debt | -$26.5K | -$44.5K |
| Proceeds from line of credit | $8.4M | |
| Proceeds from long-term debt | $10.0M | |
| Proceeds from insurance financing obligation | $369.5K | $326.1K |
| Repayments of insurance financing obligation | -$281.5K | -$338.0K |
| Taxes paid related to net share settlement of equity awards | -$88.9K | -$52.5K |
| Debt issuance costs | -$282.9K | |
| Net cash provided by (used in) financing activities | $673.3K | -$2.8M |
| Net (decrease) increase in cash | -$4.6M | $396.2K |
| Cash paid during the year for interest | $1.9M | $2.4M |
| Cash paid for income taxes | $71.5K | $5.5K |
| Increase to operating right-of-use asset and operating lease liability from lease amendment | $8.2M |
Recent filings
- Sep 18, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
- Sep 16, 20268-K CURRENT REPORT
- Aug 13, 202610-Q
- Aug 13, 20268-K CURRENT REPORT
- Jul 31, 2026DEF 14A DEFINITIVE PROXY STATEMENT
- Jul 31, 2026DEFA14A ADDITIONAL DEFINITIVE PROXY SOLICITING MATERIALS
- Jul 31, 2026ARS ANNUAL REPORT TO SECURITY HOLDERS
- Jul 21, 2026SCHEDULE 13G
- Jul 16, 2026SCHEDULE 13G/A
- Jun 25, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
- Jun 11, 20268-K CURRENT REPORT
- Jun 10, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
- Jun 10, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
- May 18, 20268-K CURRENT REPORT
- May 15, 202610-Q QUARTERLY REPORT
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
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