AIRI
Air Industries Group2.8600
-0.0200-0.69%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
13.66MP/E (TTM)
-Basic EPS (TTM)
-0.53Dividend Yield
0%Recent Filings
8-K
Loan maturity extended to Sept 2026
Air Industries Group signed its Eleventh Amendment to the Loan and Security Agreement with Webster Bank on February 26, 2026, extending revolving credit and term loan maturities to September 30, 2026. The deal secures seven more months of liquidity. Borrowers pay a $25,000 upfront fee and $150,000 at maturity. No defaults noted.
8-K
2025 prelims: $47.9M sales
Air Industries Group reported preliminary 2025 results on February 17, 2026: sales hit $47.9 million, gross profit reached $8.1 million (17.1%), yet operations lost $334,000 with net loss of $1.3 million. Adjusted EBITDA stood at $4.3 million, reconciled from GAAP net loss by adding back interest, stock comp, depreciation, and amortization. Full 10-K audit follows soon. Risks lurk in government funding shifts.
8-K
AIRI-Tenax merger dilutes to 5%
Air Industries Group signed a merger agreement on February 16, 2026, to acquire Tenax Aerospace via subsidiary merger, issuing ~94.4M shares (potentially 112.5M at $3.44 Debt Adjusted price per preliminary Dec 31 data), diluting existing holders to 5% ownership. Tenax commits to repay Air's Webster Bank and director notes at close. Shareholder vote and HSR clearance required; tender offer and redemption rights protect legacy holders.
8-K
Loan waiver, maturity extended
Air Industries Group signed a Tenth Amendment to its loan agreement with Webster Bank on December 15, 2025, securing waivers for fixed charge coverage ratio and capital expenditure covenant breaches through June 30 and year-to-date 2025. It extends revolver and term loan maturities to March 31, 2026, while tightening covenants to a 1.10x ratio and $3.3M annual capex limit—for a $40,000 fee. Lenders hold leverage.
10-Q
Q3 FY2025 results
Air Industries swung to an operating profit of $316,000 in Q3 ended September 30, 2025, up from $67,000 a year earlier, while gross margin expanded to 22.3% from 15.5% on $10.3M sales (down 17.9% y/y, derived) thanks to favorable product mix and cost cuts. Yet YTD sales fell 12.6% to $35.1M with operating loss widening to $422,000 from $560,000 profit, driven by higher operating expenses including stock compensation. Cash burned $754,000 from operations minus $3.0M capex; equity raised $4.6M net but revolver drew $2.9M net amid covenant defaults and $28.6M total debt due soon. Backlog grew to $131.8M. Lender defaults pose refinancing risk.
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