A
AIR INDUSTRIES GROUP
AIRICIK 0001009891NYSENon-AcceleratedSmaller ReportingAircraft Parts & Auxiliary Equipment, NecNevadaFY ends Dec 31
Period
FY 2025
Revenue
$47.92M
Net Income
$-1.30M
Total Assets
$58.33M
Equity
$19.20M
Shares Out
4.78M
Op. Cash Flow
$-1.35M
Business
AIR INDUSTRIES GROUP manufactures precision components and assemblies for the aerospace and defense industries, serving prime contractors and government end-users. It produces landing gears, flight controls, engine mounts, thrust struts and other high‑precision parts and complete assemblies for jet engines, helicopters, fixed‑wing aircraft and ground turbines. Operations are organized across three legal subsidiaries—Air Industries Machining, Nassau Tool Works and Sterling Engineering—supporting Tier‑1 and Tier‑2 supply relationships. The company sells primarily to U.S. and international governments, global commercial airlines, prime contractors and the Defense Logistics Agency through direct contracts and long‑term agreements.
Summary from filing dated 2025-04-15
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net Sales | 48 | 55 | 52 | 53 | 59 | |
| Cost of Sales | 40 | 46 | 44 | — | 49 | |
| Gross Profit | 8 | 9 | 7 | 7 | 10 | |
| Operating Expenses | 9 | 8 | 8 | 8 | 8 | |
| (Loss)/Income from Operations | −338,000 | 459,000 | −295,000 | −194,000 | 2 | |
| Interest Expense | −1 | −1 | −1 | −851,000 | — | |
| Interest Expense - Related Parties | −356,000 | −472,000 | −472,000 | — | — | |
| Other Income, Net | 743,000 | 68,000 | 84,000 | 139,000 | 405,000 | |
| Loss before Benefit From Income Taxes | −1 | −1 | −2 | −1 | 2 | |
| Benefit from Income Taxes | −131,000 | — | — | — | — | |
| Net Loss | −1 | −1 | −2 | −1 | 2 | |
| Loss per share - Basic and diluted (in Dollars per share) | −0.31 | −0.41 | −0.65 | −0.33 | 0.51 | |
| Loss per share - Diluted (in Dollars per share) | −0.31 | −0.41 | −0.65 | −0.33 | 0.45 | |
| Weighted Average Shares Outstanding - Basic and diluted (in Shares) | 4 | 3 | 3 | 3 | 3 | |
| Weighted Average Shares Outstanding - Diluted (in Shares) | 4 | 3 | 3 | 3 | 4 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash | 680,000 | 753,000 | 346,000 | — | — | |
| Restricted Cash | 4 | — | — | — | — | |
| Accounts Receivable, Net of Allowance for Credit Losses of $464,000 and $396,000 | 7 | 9 | — | — | — | |
| Inventory | 34 | 29 | 30 | 32 | 30 | |
| Prepaid Expenses and Other Current Assets | 766,000 | 371,000 | 297,000 | 307,000 | 226,000 | |
| Contract Costs Receivable | — | 296,000 | 296,000 | 296,000 | — | |
| Prepaid Taxes | 76,000 | 56,000 | 37,000 | 28,000 | 22,000 | |
| Total Current Assets | 47 | 39 | 39 | 42 | 41 | |
| Property and Equipment, Net | 10 | 9 | 8 | 8 | 8 | |
| Finance Lease Right-Of-Use-Assets | 916,000 | 1 | 970,000 | 375,000 | — | |
| Operating Lease Right-Of-Use-Assets | 514,000 | 1 | 2 | 2 | 3 | |
| Deferred Financing Costs, Net, Deposits and Other Assets | 614,000 | 712,000 | 1 | 532,000 | 960,000 | |
| TOTAL ASSETS | 58 | 51 | 51 | 54 | 53 | |
| Debt | 24 | 18 | 16 | — | — | |
| Accounts Payable and Accrued Expenses | 8 | 7 | 6 | 8 | 7 | |
| Operating Lease Liabilities | 702,000 | 881,000 | 880,000 | 778,000 | 686,000 | |
| Deferred Gain on Sale | 28,000 | 38,000 | 38,000 | 38,000 | — | |
| Customer Deposits | 391,000 | 1 | 4 | — | — | |
| Total Current Liabilities | 38 | 27 | 27 | 24 | 23 | |
| Debt | 2 | 2 | 1 | 5 | — | |
| Operating Lease Liabilities | — | 702,000 | 2 | 2 | 3 | |
| Deferred Gain on Sale | — | 29,000 | 67,000 | 105,000 | 38,000 | |
| TOTAL LIABILITIES | 39 | 36 | 36 | 37 | 36 | |
| Commitments and Contingencies (see Note 12) | — | — | — | — | — | |
| Preferred Stock, par value $.001 - Authorized 3,000,000 shares, 0 shares outstanding, at both December 31, 2025 and December 31, 2024. | — | — | — | — | — | |
| Common Stock - Par Value $.001 - Authorized 6,000,000 shares, 4,776,454 and 3,474,970 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 5,000 | 3,000 | 3,000 | 3,000 | 3,000 | |
| Additional Paid-In Capital | 90 | 84 | 83 | 82 | 82 | |
| Accumulated Deficit | −70 | −69 | −68 | −66 | −65 | |
| TOTAL STOCKHOLDERS EQUITY | 19 | 15 | 15 | 17 | 17 | |
| TOTAL LIABILITIES AND STOCKHOLDERS EQUITY | 58 | 51 | 51 | 54 | 53 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation of property and equipment | 2 | 2 | 2 | 3 | 3 | |
| Stock-based Compensation | 1 | 797,000 | 482,000 | 526,000 | 443,000 | |
| Amortization of Finance Lease Right-of-Use Assets | 197,000 | 176,000 | 84,000 | — | 492,000 | |
| Amortization of Operating Lease Right-of-Use Assets | 676,000 | 676,000 | 607,000 | 545,000 | — | |
| Deferred gain on sale of real estate | −39,000 | −38,000 | −38,000 | — | — | |
| (Gain)/Loss on sale of equipment | −68,000 | −15,000 | 14,000 | — | — | |
| Allowances for Credit Losses | 68,000 | 52,000 | — | −313,000 | −86,000 | |
| Amortization of deferred financing costs | 69,000 | 68,000 | 68,000 | 65,000 | 150,000 | |
| Accounts receivable | 2 | −1 | 2 | 1 | −2 | |
| Inventory | −5 | 1 | 2 | −2 | 3 | |
| Prepaid expenses and other current assets | −395,000 | −74,000 | 10,000 | −81,000 | −53,000 | |
| Contract costs receivable | 296,000 | — | — | — | — | |
| Prepaid taxes | −20,000 | −19,000 | −9,000 | −6,000 | −7,000 | |
| Deposits and other assets | 29,000 | 375,000 | −600,000 | −194,000 | −193,000 | |
| Accounts payable and accrued expenses | 888,000 | 961,000 | −1 | 1 | −2 | |
| Operating lease liabilities | −881,000 | −879,000 | −779,000 | −686,000 | — | |
| Customer deposits | −724,000 | −2 | 3 | — | — | |
| NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES | −1 | 324,000 | 5 | 448,000 | 4 | |
| Purchase of property and equipment | −3 | −2 | −2 | −2 | −1 | |
| Proceeds from sale of fixed assets | 200,000 | 16,000 | 7,000 | — | — | |
| NET CASH USED IN INVESTING ACTIVITIES | −3 | −2 | −2 | −2 | −1 | |
| Note payable - revolver - net - Current Credit Facility | 5 | 2 | −3 | 916,000 | — | |
| Proceeds from term loan - Current Credit Facility | 2 | 1 | 740,000 | — | — | |
| Proceeds from term loan - Solar Facility | — | 8,000 | 393,000 | — | — | |
| Net proceeds from Common Stock issued for cash | 5 | 327,000 | — | — | — | |
| Payments for taxes related to net share settlement of equity awards | −127,000 | — | — | — | — | |
| Payments of subordinated Notes - Related party | −1 | — | — | — | — | |
| Payments of term loan - Current Credit Facility | −1 | −869,000 | −1 | — | — | |
| Payments of finance lease obligations | −223,000 | −196,000 | −123,000 | −284,000 | — | |
| Payments of loan payable - financed asset | −9,000 | −9,000 | −9,000 | — | — | |
| NET CASH PROVIDED BY FINANCING ACTIVITIES | 8 | 2 | −3 | 2 | −5 | |
| NET INCREASE IN CASH | 4 | 407,000 | 65,000 | −346,000 | — | |
| Cash paid during the year for interest | 2 | 2 | 2 | 6,000 | 7,000 | |
| Cash paid during the year for taxes | 21,000 | 20,000 | 6,100 | — | — | |
| Financing from Solar Credit Facility directly to contractor | — | 533,000 | — | — | — | |
| Acquisition of financed lease asset | — | 319,000 | — | — | — |
Filings
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