← AIR T INC
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net loss | $3.8m | ($4.9m) | $2.5m | $3.2m | $11.2m | ($8.4m) | $12.2m | ($11.8m) | ($4.7m) | ($5.4m) | — | |
| Depreciation and amortization | — | — | $2.4m | $7.7m | $5.7m | $3.1m | $1.9m | $4.2m | $2.8m | $4.4m | $12.3m | |
| Income from equity method of investments | — | — | — | — | — | — | ($37k) | ($1.5m) | ($1.7m) | ($1.7m) | — | |
| Accounts receivable | ($1.5m) | ($5.5m) | $2.7m | ($2.0m) | ($2.2m) | $6.1m | ($12.7m) | ($6.3m) | $4.0m | ($1.8m) | ($3.3m) | |
| Inventory write-down | — | — | — | — | — | — | $768k | $7.3m | $1.2m | $1.5m | — | |
| Inventories | ($878k) | ($7.8m) | ($6.8m) | $9.5m | ($29.6m) | ($129k) | ($17.6m) | $10.2m | $9.1m | $20.6m | ($24.1m) | |
| Equipment leased or held for lease transferred to inventory | — | — | $2.1m | $0 | $4.9m | $19.6m | $12k | $12.7m | $73k | $0 | — | |
| Equipment in inventory transferred to assets on lease | — | — | — | — | $501k | $0 | $13.1m | $33k | $260k | $112k | — | |
| Accounts payable | $606k | $4.1m | ($1.7m) | $4.3m | $2.1m | ($2.5m) | $1.1m | $992k | $4.6m | $2.7m | $16.3m | |
| Accrued expenses | $1.2m | $1.6m | $1.7m | $2.0m | $2.1m | ($341k) | ($485k) | ($893k) | $2.4m | $1.1m | $5.8m | |
| Other | — | — | — | ($2.4m) | ($4.6m) | ($2.3m) | $2.7m | ($1.5m) | ($1.5m) | $758k | — | |
| Net cash provided by operating activities | $3.2m |
($7.6m)
-335.00%
|
($278k)
+96.32%
|
$20.9m
+7635.48%
|
($25.1m)
-219.76%
|
($1.8m)
+92.75%
|
($33.1m)
-1718.80%
|
$16.9m
+151.11%
|
$17.2m
+1.59%
|
$23.5m
+36.78%
|
($25.0m)
-206.59%
|
|
| Capital expenditures related to property & equipment | ($1.2m) | ($2.3m) | ($20.2m) | ($1.3m) | ($2.4m) | ($3.9m) | ($1.5m) | ($1.2m) | ($1.1m) | ($1.1m) | ($16.5m) | |
| Capital expenditures related to assets on lease or held for lease | — | — | ($18.1m) | ($19.1m) | ($36.3m) | ($2.1m) | ($28k) | $0 | $0 | ($14.6m) | ($16.5m) | |
| Net cash used in investing activities | ($5.3m) | ($3.7m) | ($26.4m) | ($23.0m) | $8.6m | $2.5m | ($33.4m) | ($6.2m) | ($2.5m) | ($20.2m) | ($21.8m) | |
| Repurchase of common stock | — | ($7.9m) | — | ($744k) | — | — | — | — | ($876k) | ($1.4m) | — | |
| Net cash used in financing activities | ($6.0m) |
$8.7m
+244.96%
|
$28.7m
+230.75%
|
$9.5m
-66.78%
|
$19.2m
+101.54%
|
$71k
-99.63%
|
$59.3m
+83356.34%
|
($12.4m)
-120.89%
|
($13.9m)
-12.36%
|
($4.8m)
+65.49%
|
$65.4m
+1462.20%
|
|
| NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH | $1.4m | $7.6m | $3.0m | $356k | ($7.6m) | ($1.3m) | $753k | ($1.1m) | ||||
| CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD | $5.0m | $12.5m | $15.6m | $15.9m | $7.1m | $7.8m | $6.8m | |||||
| Restricted cash, current | — | — | — | — | — | — | — | — | — | $575k | — | |
| Restricted cash, long-term | — | — | — | — | — | — | — | — | — | $250k | — | |
| Effect of foreign currency exchange rates on cash and cash equivalents | $2k | ($16k) | ($3k) | $96k | $260k | ($412k) | ($341k) | $361k | ($16k) | $408k | — | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Employee retention credit receivable | — | — | — | — | — | $0 | ($9.1m) | $8.2m | $940k | $0 | — | |
| Total adjustments | ($543k) | ($2.6m) | ($2.7m) | $17.7m | ($28.7m) | ($2.5m) | ($40.5m) | $17.4m | $18.3m | $22.4m | — | |
| Investment in unconsolidated entities | — | — | — | ($2.0m) | ($2.8m) | $0 | ($6.8m) | ($3.1m) | ($4.6m) | ($7.0m) | — | |
| Distribution from unconsolidated entities | — | — | — | — | — | — | — | $683k | $3.2m | $6.0m | — | |
| Disbursements for note receivable - Lendway | — | — | — | — | — | — | — | — | $0 | ($3.8m) | — | |
| Proceeds from lines of credit | $14.3m | $68.3m | $115.5m | $107.5m | $174.6m | $66.4m | $99.4m | $139.3m | $124.2m | $136.5m | — | |
| Payments on lines of credit | ($19.3m) | ($49.8m) | ($119.2m) | ($109.9m) | ($147.9m) | ($105.6m) | ($84.6m) | ($133.0m) | ($142.0m) | ($131.4m) | — | |
| Proceeds from term loan | — | — | $38.4m | $27.7m | $35.9m | $59.3m | $34.2m | $10.6m | $24.9m | $24.9m | — | |
| Payments on term loan | — | — | ($4.8m) | ($15.7m) | ($47.4m) | ($27.3m) | ($3.8m) | ($27.9m) | ($28.3m) | ($35.0m) | — | |
| Proceeds received from issuance of TruPs | — | — | — | $0 | $8.5m | $1.3m | $11.3m | $0 | $8.8m | $910k | — | |
| Assumption of liabilities to acquire assets on lease | — | — | — | — | — | — | — | — | $0 | $720k | — | |
| Non-cash contribution from non-controlling interest | — | — | — | — | — | — | — | — | $0 | $475k | — | |
| Contingent earnout for Contrail Aviation Support, LLC ("Contrail") redeemed interest | — | — | — | — | — | — | — | — | $0 | $1.1m | — | |
| Related-party note payable for Contrail redeemed interest | — | — | — | — | — | — | — | — | $0 | $4.6m | — | |
| Due from CAM expense reimbursements converted into notes receivable - CAM | — | — | — | — | — | — | — | — | $0 | $2.5m | — | |
| Operating cash payments for operating leases | — | $7.6m | $278k | $0 | $1.5m | $1.7m | $1.8m | $1.9m | $2.4m | $2.3m | ($25.0m) | |
| Cash paid during the year for interest | — | $298k | $1.1m | $2.9m | $3.3m | $2.7m | $1.5m | $5.9m | $3.9m | $8.4m | — | |
| Cash paid during the year for income taxes | $2.8m | $1.1m | $1.7m | $527k | $1.5m | $477k | $429k | $1.0m | $917k | $983k | — | |
| Cash and cash equivalents | $5.3m | $2.8m | $4.8m | — | — | — | — | — | $7.1m | $5.9m | $6.8m |