INNOVATIVE SOLUTIONS & SUPPORT INC

Listed Company

ISSCCIK 0000836690NasdaqNon-AcceleratedSmaller ReportingServices-Computer Programming ServicesPennsylvaniaFY ends Sep 30

Period

FY 2025

Revenue

—

Net Income

$15.63M

Total Assets

$103.36M

Equity

$64.60M

Shares Out

17.78M

Op. Cash Flow

$13.30M

Business

INNOVATIVE SOLUTIONS & SUPPORT INC is a vertically integrated provider of flight solutions and avionics equipment for commercial air transport, general aviation, the U.S. Department of Defense and allied militaries. The company designs, develops, manufactures, sells and services avionics products and systems including integrated flight deck displays, navigation and communication systems, sensors/control systems, mission computers and flight actuators, and retrofit integration services. It operates in a single business segment focused on systems integration, product development, manufacturing and lifecycle support. Products are sold through OEM contracts, retrofit channels, MROs, distributors, integrators and direct government procurement across domestic and international markets.

Summary from filing dated 2025-12-23

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Total net sales	84	47	35	28	23
Total cost of sales	44	21	13	11	10
Gross profit	41	26	21	17	13
Research and development	4	4	3	3	3
Selling, general and administrative	16	12	11	7	6
Total operating expenses	20	16	14	9	9
Operating income	20	10	7	7	4
Interest expense	−2	−937,309	−393,281	—	—
Interest income	18,943	127,332	518,188	61,051	1,234
Other income	2	—	151,317	65,232	74,906
Income before income taxes	20	9	8	7	4
Income tax expense	4	2	2	2	−1
Net income	16	7	6	6	5
Basic (in dollars per share)	0.89	0.4	0.35	0.32	0.29
Diluted (in dollars per share)	0.88	0.4	0.35	0.32	0.29
Basic (in shares)	18	17	17	17	17
Diluted(in shares)	18	17	17	17	17

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Cash and cash equivalents	3	538,977	3	17	8
Accounts receivable	13	13	10	4	4
Contract assets	5	2	487,139	162,742	0
Inventories	26	13	6	5	5
Prepaid inventory	3	6	12	—	—
Prepaid expenses and other current assets	1	1	1	1	833,076
Total current assets	51	35	35	28	18
Goodwill	7	5	4	—	—
Intangible assets, net	24	27	16	60,348	—
Property and equipment, net	19	13	8	6	8
Deferred income taxes	3	2	456,392	46,487	1
Other assets	718,466	473,725	191,722	103,980	188,284
Total assets	103	82	63	35	27
Current portion of long-term debt	2	—	2	—	—
Accounts payable	4	2	1	708,845	623,620
Accrued expenses	8	5	3	3	1
Contract liability	2	340,481	143,359	259,183	61,330
Total current liabilities	17	7	6	4	2
Long-term debt	22	28	18	—	—
Other liabilities	396,497	451,350	421,508	15,065	28,680
Total liabilities	39	36	24	4	3
Commitments and contingencies (See Note 16)	—	—	—	—	—
Preferred stock, 10,000,000 shares authorized, $.001 par value, of which 200,000 shares are authorized as Class A Convertible stock. No shares issued and outstanding at September 30, 2025 and September 30, 2024	—	—	—	—	—
Common stock, $.001 par value: 75,000,000 shares authorized, 19,727,260 and 19,599,052 issued at September 30, 2025 and September 30, 2024, respectively	17,631	17,503	19,543	19,413	19,343
Additional paid-in capital	40	37	54	52	52
Retained earnings	28	13	6	−359,042	−6
Treasury stock, at cost, 2,096,451 shares at September 30, 2025 and at September 30, 2024, respectively	−3	−3	−21	−21	−21
Total shareholders' equity	65	47	39	31	25
Total liabilities and shareholders' equity	103	82	63	35	27

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Net income	16	7	6	6	5
Depreciation and amortization	4	2	697,943	368,499	432,176
Share-based compensation	2	1	1	—	—
Amortization of loan fees	40,269	—	—	—	—
Impairment of long-lived assets	—	—	44,400	—	—
Gain on disposal of property and equipment	—	−160,577	—	−1	—
Deferred income taxes	−1	−1	9,503	1	−1
Accounts receivable	−343,994	−3	−5	−251,120	322,774
Contract assets	−4	−1	−324,397	−162,742	—
Inventories	−10	−2	−834,917	−708,859	−153,611
Prepaid expenses and other current assets	−479,118	811,669	69,458	−309,394	−157,967
Other non-current assets	−4,771	−294,969	−101,356	—	—
Accounts payable	1	978,203	628,430	85,224	−167,272
Accrued expenses	3	624,346	203,754	1	−4,655
Income taxes payable	850,938	1	−257,055	269,015	104,640
Contract liabilities	2	197,122	−115,823	−158,321	−242,835
Net cash provided by operating activities	13	6	2	6	5
Purchases of property and equipment	−7	−657,790	−298,373	−161,230	−340,678
Acquisition of assets	—	−4	—	—	—
Acquisition of a business	—	−14	−36	—	—
Proceeds from the sale of property and equipment	—	2	—	3	—
Net cash (used in) investing activities	−7	−17	−36	3	−340,678
Debt proceeds	—	52	20	—	—
Debt payments	−28	−44	−500,000	—	—
Initial Term Loan debt proceeds	25	—	—	—	—
Initial Term Loan principal payments	−625,000	—	—	—	—
Proceeds from exercise of stock options	—	—	408,846	301,154	17,010
Payments of debt issuance costs	−984,592	—	—	—	—
Net cash (used in) provided by financing activities	−5	9	20	301,154	−20
Net increase (decrease) in cash and cash equivalents	2	−3	−14	9	−16
Cash paid for income taxes	5	2	2	531,481	—
Cash paid for interest	2	847,085	260,889	—	—
Transfer from prepaid inventory to inventory	3	4	—	—	—
Transfer from prepaid inventory to purchases of property and equipment	—	3	—	—	—
Transfer from prepaid inventory to goodwill	—	516,580	—	—	—
Transfer from prepaid inventory to intangible assets, net	—	800,000	—	—	—
Transfer from prepaid expenses and other current assets to PP&E	119,647	—	—	—	—
Transfer from intangible assets to goodwill	1	—	—	—	—
Transfer from prepaid expenses to intangible assets	275,995	—	—	—	—
Transfer from other assets to PP&E	318,534	—	—	—	—

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro