Air Industries Group reported its financial results for the third quarter and the first nine months of 2025, revealing a decline in both revenue and profitability compared to the same periods in 2024. For the three months ended September 30, 2025, the company generated net sales of $10.3 million, a decrease of 17.9% from $12.6 million in the prior year. The nine-month figures also reflected a decline, with sales totaling $35.1 million, down 12.6% from $40.2 million in 2024. Despite the drop in sales, gross profit for the third quarter increased to $2.3 million, up from $1.9 million, resulting in a gross profit margin of 22.3%, compared to 15.5% in the same quarter last year.
The company's net loss for the third quarter narrowed to $44,000, a significant improvement from a loss of $404,000 in the same period last year. However, for the nine months ended September 30, 2025, the net loss increased to $1.5 million, compared to a loss of $812,000 in 2024. The increase in operating expenses, which rose to $6.8 million for the nine-month period, was attributed to higher stock compensation expenses and professional fees, among other factors.
In terms of operational developments, Air Industries reported a backlog of $131.8 million as of September 30, 2025, which is part of a total unfilled contract value of $269 million. This backlog is expected to support future revenue growth, although the company anticipates that extended lead times for raw material procurement may delay revenue acceleration until early 2026. The company has also been actively engaged in discussions with lenders regarding potential refinancing of its current credit facility, which is set to expire on December 30, 2025.
The financial position of Air Industries showed total assets of $57.9 million as of September 30, 2025, an increase from $51 million at the end of 2024. However, total liabilities also rose to $39.1 million, up from $36.1 million, primarily due to increased debt levels. The company’s stockholders' equity increased to $18.8 million, reflecting a 26.1% rise from the previous year. The company has raised approximately $4.9 million through an At The Market (ATM) offering, although $3.9 million of this amount is restricted for the benefit of its current credit facility lender.
Looking ahead, Air Industries remains focused on enhancing profitability and improving cash flows through cost reductions and margin improvements. The company has initiated cost-saving measures, including workforce reductions, to align operating expenses with anticipated production volumes. Despite the challenges, management is optimistic about future growth supported by its backlog and ongoing negotiations with lenders, although they caution that actual results may differ from expectations due to various market conditions and operational challenges.
About AIR INDUSTRIES GROUP
Air Industries Group is a leading manufacturer of precision components and assemblies for the aerospace and defense sectors, specializing in products like landing gears and flight controls. With a focus on U.S. government contracts and partnerships with major prime contractors, the company targets military and commercial aviation markets. Recent investments in capital equipment and a growing backlog of $117.9 million position Air Industries for future growth and profitability.
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