A
Aeries Technology, Inc.
AERTWCIK 0001853044NasdaqEmerging GrowthServices-Management Consulting ServicesFY ends Mar 31
Period
FY 2025
Revenue
$70.20M
Net Income
$-21.59M
Total Assets
$39.83M
Equity
$-5.80M
Shares Out
47.15M
Op. Cash Flow
$-1.01M
Business
Aeries Technology, Inc. provides professional and technology consulting services specializing in the design, set-up and management of Global Capability Centers (GCCs) for private equity portfolio companies and middle‑market enterprises. It offers GCC set‑up and operation, GCC optimization modules, advisory and consulting, managed services and AI‑powered transformation including RPA, IDP, analytics, cybersecurity, finance & accounting, IT infrastructure and customer service delivery. Key business segments comprise GCC Set‑Up & Operation, GCC Optimization, and GCC Advisory & Consulting alongside AI‑driven managed services. Aeries serves clients primarily in North America and Asia‑Pacific via direct sales, partnerships and private equity channels.
Summary from filing dated 2025-07-02
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-03-31 | FY 2024 2024-03-31 | FY 2023 2023-03-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Revenue, net | 70 | 73 | 53 | — | |
| Cost of revenue | 53 | 51 | 39 | — | |
| Gross profit | 17 | 22 | 14 | — | |
| Selling, general & administrative expenses | 45 | 19 | 11 | — | |
| Total operating expenses | 45 | 19 | 11 | — | |
| (Loss) / income from operations | −29 | 3 | 2 | −4 | |
| Change in fair value forward purchase agreement put option liability | 5 | 15 | — | — | |
| Change in fair value of derivative warrant liabilities | 738,000 | 1 | — | — | |
| Gain on settlement of forward purchase agreement put option liability | 581,000 | — | — | — | |
| Interest income | 326,000 | 275,000 | 191,000 | — | |
| Interest expense | −751,000 | −462,000 | −185,000 | — | |
| Other (expense) / income, net | 624,000 | 160,000 | 429,000 | — | |
| Total other income / (expense), net | 6 | 16 | 435,000 | — | |
| (Loss) / income before income taxes | −23 | 19 | 3 | — | |
| Income tax benefit / (expense) | 1 | −2 | −1 | — | |
| Net (loss) / income | −22 | 17 | 2 | — | |
| Net (loss) / income attributable to noncontrolling interests | −1 | 202,000 | 260,000 | — | |
| Net (loss) / income attributable to redeemable noncontrolling interests | −718,000 | 1 | — | — | |
| Net (loss) / income attributable to Aeries Technology Inc. | −20 | 16 | 1 | — | |
| Weighted average shares outstanding of Class A ordinary shares, basic | 43 | 16 | — | — | |
| Weighted average shares outstanding of Class A ordinary shares diluted | 43 | 16 | — | — | |
| Basic net income per Class A ordinary share | −0.46 | 0.91 | — | — | |
| Diluted net income per Class A ordinary share | −0.46 | 0.91 | — | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-03-31 | FY 2024 2024-03-31 | FY 2023 2023-03-31 | FY 2022 2022-12-31 | FY 2022 2022-03-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 3 | 2 | 1 | — | — | |
| Accounts receivable, net of allowance of $3,574 and $1,263 as of March 31, 2025 and March 31, 2024, respectively | 11 | 24 | 13 | — | — | |
| Prepaid expenses and other current assets, net of allowance of $0 and $1, as of March 31, 2025 and March 31, 2024, respectively | 8 | 7 | 4 | — | — | |
| Total current assets | 21 | 33 | 21 | 360,774 | — | |
| Property and equipment, net | 2 | 4 | — | — | — | |
| Operating right-of-use assets | 10 | 7 | 6 | — | — | |
| Deferred tax assets, net | 4 | 2 | 1 | — | — | |
| Long-term investments, net of allowance of $76 and $126, as of March 31, 2025 and March 31, 2024, respectively | 2 | 2 | 2 | — | — | |
| Other assets, net of allowance of $0 and $1, as of March 31, 2025 and March 31, 2024, respectively | 1 | 2 | 2 | 0 | — | |
| Total assets | 40 | 49 | 34 | 235 | — | |
| Accounts payable | 8 | 7 | 2 | 676,652 | — | |
| Accrued compensation and related benefits, current | 2 | 3 | 3 | — | — | |
| Operating lease liabilities, current | 3 | 2 | 2 | — | — | |
| Short-term borrowings | 7 | 7 | 1 | — | — | |
| Forward purchase agreement put option liability | 5 | 10 | — | — | — | |
| Other current liabilities | 8 | 9 | 4 | — | — | |
| Total current liabilities | 32 | 38 | 13 | 4 | — | |
| Long term debt | 1 | 1 | 969,000 | — | — | |
| Operating lease liabilities, noncurrent | 7 | 6 | 4 | — | — | |
| Derivative warrant liabilities | 629,000 | 1 | — | 614,040 | — | |
| Deferred tax liabilities, net | 139,000 | 92,000 | 168,000 | — | — | |
| Other liabilities | 4 | 4 | 3 | — | — | |
| Total liabilities | 46 | 51 | 21 | 5 | — | |
| Redeemable noncontrolling interest | −42,000 | 734,000 | — | — | — | |
| Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued or outstanding | — | — | — | 0 | — | |
| Net shareholders investment and additional paid-in capital | 27 | — | 7 | 0 | — | |
| Less: Common Stock held in treasury at cost; 1,285,392 shares as on March 31, 2025 and 0 shares as on March 31, 2024 | −724,000 | — | — | — | — | |
| Accumulated other comprehensive loss | −908,000 | −574,000 | −1 | — | — | |
| Accumulated deficit | −31 | −12 | 6 | −5 | — | |
| Total Aeries Technology, Inc. shareholders deficit | −6 | −12 | 12 | −5 | — | |
| Noncontrolling interest | −258,000 | 10 | 1 | — | — | |
| Total shareholders deficit | −6 | −2 | 13 | — | 9 | |
| Total liabilities, redeemable noncontrolling interest and shareholders deficit | 40 | 49 | 34 | 235 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-03-31 | FY 2024 2024-03-31 | FY 2023 2023-03-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Depreciation and amortization expense | 1 | 1 | 1 | — | |
| Impairment Loss | 2 | 0 | — | — | |
| Stock-based compensation expense | 13 | 2 | 4 | — | |
| Deferred tax benefit | −2 | −718,000 | −161,000 | — | |
| Accrued income from long-term investments | −216,000 | −196,000 | −130,000 | — | |
| Provision for expected credit loss | 2 | 1 | — | — | |
| Gain on lease termination | −29,000 | −13,000 | −25,000 | — | |
| Profit on sale of property and equipment | 90,000 | 12,000 | 54,000 | — | |
| Sundry balances written back | −699,000 | −48,000 | −36,000 | — | |
| Change in fair value of forward purchase agreement put option liability | −5 | −15 | — | — | |
| Loss on issuance of shares against accounts payable | 342,000 | 48,000 | — | — | |
| Unrealized exchange gain | 44,000 | −26,000 | — | — | |
| Sundry balances written off | 9 | — | — | — | |
| Accounts receivable | 261,000 | −12 | −6 | — | |
| Prepaid expenses and other current assets | −1 | −340,000 | −1 | 390,272 | |
| Operating right-of-use assets | −3 | −2 | −6 | — | |
| Other assets | −89,000 | 312,000 | −801,000 | — | |
| Accounts payable | 4 | −568,000 | 1 | 673,842 | |
| Accrued compensation and related benefits, current | −581,000 | 323,000 | 898,000 | — | |
| Other current liabilities | −842,000 | 2 | 838,000 | — | |
| Operating lease liabilities | 4 | 2 | 6 | — | |
| Other liabilities | 425,000 | 999,000 | 751,000 | — | |
| Net cash used in operating activities | −1 | −4 | 2 | −446,617 | |
| Acquisition of property and equipment | −1 | −2 | −2 | — | |
| Sale of property and equipment | 217,000 | 11,000 | 12,000 | — | |
| Issuance of loans to affiliates | −1 | −2 | −813,000 | — | |
| Payments received for loans to affiliates | 2 | 2 | 844,000 | — | |
| Net cash used in investing activities | −858,000 | −2 | −2 | 0 | |
| Net proceeds from short term borrowings | −405,000 | 3 | 1 | — | |
| Payment of promissory note liability | — | −2 | — | — | |
| Payment of insurance financing liability | −491,000 | −448,000 | — | — | |
| Proceeds from long-term debt | 2 | 882,000 | 368,000 | — | |
| Repayment of long-term debt | −2 | −391,000 | −229,000 | — | |
| Payment of finance lease obligations | −335,000 | −391,000 | −390,000 | — | |
| Payment of deferred transaction costs | −20,000 | −2 | −769,000 | — | |
| Net changes in net shareholders investment | — | −10,000 | 88,000 | — | |
| Proceeds from issuance of Class A ordinary shares and forward purchase agreements in connection with Business Combination, net | — | 9 | — | 0 | |
| Proceeds from issuance of Class A ordinary shares, net of issuance cost | 5 | — | — | — | |
| Payment for purchase of treasury shares | −724,000 | — | — | — | |
| Net cash provided by financing activities | 2 | 7 | 252,000 | −8,461 | |
| Effect of exchange rate changes on cash and cash equivalents | 115,000 | −64,000 | −26,000 | — | |
| Net increase in cash and cash equivalents | 680,000 | 953,000 | 780,000 | −455,078 | |
| Cash paid for interest | 910,000 | 465,000 | 273,000 | — | |
| Cash paid for income taxes, net of refunds | 3 | 1 | 1 | — | |
| Unpaid deferred transaction costs included in accounts payable and other current liabilities | — | 4 | 1 | — | |
| Equipment acquired under finance lease obligations | 117,000 | 313,000 | 164,000 | — | |
| Property and equipment purchase included in accounts payable | 1,000 | 162,000 | 25,000 | — | |
| Settlement of accounts payable through issuance of Class A ordinary shares to vendors | 342,000 | 855,000 | — | — | |
| Assumption of net liabilities from Business Combination | — | 39 | — | — |
Filings
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