Aeries Technology, Inc. reported its financial results for the quarter ending September 30, 2025, revealing a net revenue of $17.36 million, a 3% increase from $16.87 million in the same period last year. The company achieved a gross profit of $5.02 million, reflecting a 40% increase compared to $3.58 million in the prior year, driven by a reduction in costs and a one-time revenue boost from a customer buyout. Operating expenses significantly decreased by 60% to $3.04 million, primarily due to lower employee compensation and reduced professional fees, resulting in an operating income of $1.99 million, a substantial turnaround from a loss of $4.10 million in the previous year.
In the first half of the fiscal year, Aeries reported total revenues of $32.69 million, down 3% from $33.54 million in the same period of 2024. The decline was attributed to a decrease in revenue from existing client engagements, partially offset by new client acquisitions and one-time fees. The company’s cost of revenue also decreased by 8% to $23.89 million, leading to a gross profit of $8.88 million, a 16% increase year-over-year. The net income for the six months was $2.32 million, a significant improvement from a loss of $17.62 million in the prior year.
Aeries has undergone strategic changes, including a business combination completed in November 2023, which has positioned the company to leverage its capabilities in AI-driven consulting services. The company has expanded its client base to over 30 clients across various sectors, including e-commerce and healthcare. However, it faces challenges, including a working capital deficit of $8.45 million as of September 30, 2025, primarily due to liabilities from Forward Purchase Agreements (FPAs) and short-term borrowings. The company received a notice of non-renewal from a significant customer, which is expected to reduce annual revenues by approximately $4 million.
Operationally, Aeries has implemented cost-cutting measures and is actively pursuing capital-raising alternatives to improve liquidity. The company generated positive operating cash flow of $2.39 million for the six months ended September 30, 2025, and has cash reserves of $1.87 million. Aeries has filed a Form S-3 registration statement to facilitate future capital raises. The company’s outlook remains cautious, with management focusing on organic growth and restructuring current liabilities to ensure operational sustainability.
Despite the positive financial performance, Aeries has identified material weaknesses in its internal controls over financial reporting, which management is addressing. The company is also under scrutiny from Nasdaq for not meeting the minimum bid price requirement for its shares, which could impact its listing status. Aeries Technology continues to navigate these challenges while aiming to enhance its market position and operational efficiency.
About Aeries Technology, Inc.
Aeries Technology, Inc. provides professional and technology consulting services focused on designing, establishing, and managing Global Capability Centers (GCCs) for private equity portfolio companies and mid-market enterprises. Its offerings combine strategic advisory, operational management, and AI-driven digital transformation to enhance operational efficiency, cost savings, and scalability. Serving primarily North American and Asia Pacific markets, Aeries delivers flexible, client-aligned GCC models that integrate talent, technology, and governance for sustained business value.
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