Air T, Inc. (AIRT)

Air T Income Statement

Financials in millions USD. Fiscal year is April - March.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2025	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Operating Revenue	266.69	281.19	278.25	240.77	174.34	173.72
Other Revenue	12.53	10.66	8.59	6.56	2.74	1.4
Revenue	279.22	291.85	286.83	247.32	177.08	175.12
Revenue Growth (YoY)	-1.72%	1.75%	15.97%	39.67%	1.12%	-26.04%
Cost of Revenue	213.05	226.11	230.46	201.66	136.6	146.75
Gross Profit	66.17	65.74	56.38	45.66	40.47	28.37
Selling, General & Admin	62.54	57.85	51.11	42.84	29.82	34.26
Other Operating Expenses	1.19	1.19	1.2	2.54	-	-
Operating Expenses	68.49	63.4	55.11	49.55	31.68	37.37
Operating Income	-2.32	2.34	1.26	-3.88	8.8	-9
Interest Expense	-9.39	-8.93	-7.01	-8.26	-5.18	-4.64
Interest & Investment Income	0.54	0.54	0.1	0.33	0.23	0.02
Earnings From Equity Investments	1.59	1.7	1.69	1.46	0.04	-0.72
Other Non Operating Income (Expenses)	-1.01	-1.31	-1.89	-0.07	0.82	2.74
EBT Excluding Unusual Items	-10.59	-5.65	-5.86	-10.43	4.71	-11.6
Gain (Loss) on Sale of Investments	1.1	1.1	1.9	-0.4	0.4	-
Gain (Loss) on Sale of Assets	7.03	-	-	-0.01	-0.01	0.01
Asset Writedown	-	-	-	-0.52	-0.04	-0.19
Other Unusual Items	0.49	-0.44	-	-	8.33	-
Pretax Income	-1.96	-4.99	-3.96	-11.35	13.4	-11.78
Income Tax Expense	2.08	0.42	0.73	0.43	1.17	-3.39
Earnings From Continuing Operations	-4.04	-5.41	-4.68	-11.79	12.23	-8.39
Earnings From Discontinued Operations	-	-	-	-	-	0
Net Income to Company	-4.04	-5.41	-4.68	-11.79	12.23	-8.39
Minority Interest in Earnings	-1.56	-0.73	-2.14	-0.51	-1.3	1.11
Net Income	-5.61	-6.14	-6.82	-12.3	10.93	-7.28
Net Income to Common	-5.61	-6.14	-6.82	-12.3	10.93	-7.28
Shares Outstanding (Basic)	3	3	3	3	3	3
Shares Outstanding (Diluted)	3	3	3	3	3	3
Shares Change (YoY)	-2.31%	-2.34%	-1.09%	-1.42%	0.21%	3.00%
EPS (Basic)	-2.06	-2.23	-2.42	-4.32	3.79	-2.52
EPS (Diluted)	-2.06	-2.23	-2.42	-4.32	3.78	-2.53
Free Cash Flow	13	7.82	16.1	15.73	-48.05	-7.82
Free Cash Flow Per Share	4.78	2.84	5.72	5.53	-16.64	-2.71
Gross Margin	23.70%	22.53%	19.66%	18.46%	22.86%	16.20%
Operating Margin	-0.83%	0.80%	0.44%	-1.57%	4.97%	-5.14%
Profit Margin	-2.01%	-2.10%	-2.38%	-4.97%	6.17%	-4.15%
Free Cash Flow Margin	4.66%	2.68%	5.61%	6.36%	-27.13%	-4.47%
EBITDA	2.43	6.7	4.06	0.28	10.66	-5.89
EBITDA Margin	0.87%	2.30%	1.42%	0.11%	6.02%	-3.36%
D&A For EBITDA	4.76	4.36	2.8	4.16	1.86	3.11
EBIT	-2.32	2.34	1.26	-3.88	8.8	-9
EBIT Margin	-0.83%	0.80%	0.44%	-1.57%	4.97%	-5.14%
Effective Tax Rate	-	-	-	-	8.73%	-
Revenue as Reported	279.22	291.85	286.83	247.32	177.08	175.12

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q