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	Dec 31, 2025	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Operating Revenue	258.94	281.19	278.25	240.77	174.34	173.72
Other Revenue	13.53	10.66	8.59	6.56	2.74	1.4
Revenue	272.47	291.85	286.83	247.32	177.08	175.12
Revenue Growth (YoY)	-8.63%	1.75%	15.97%	39.67%	1.12%	-26.04%
Cost of Revenue	209.17	226.11	230.46	201.66	136.6	146.75
Gross Profit	63.3	65.74	56.38	45.66	40.47	28.37
Selling, General & Admin	65.01	57.85	51.11	42.84	29.82	34.26
Other Operating Expenses	1.19	1.19	1.2	2.54	-	-
Operating Expenses	71.22	63.4	55.11	49.55	31.68	37.37
Operating Income	-7.92	2.34	1.26	-3.88	8.8	-9
Interest Expense	-9.2	-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	5.16	1.7	1.69	1.46	0.04	-0.72
Other Non Operating Income (Expenses)	-0.54	-1.31	-1.89	-0.07	0.82	2.74
EBT Excluding Unusual Items	-11.96	-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	0.88	-0.44	-	-	8.33	-
Pretax Income	-2.95	-4.99	-3.96	-11.35	13.4	-11.78
Income Tax Expense	1.86	0.42	0.73	0.43	1.17	-3.39
Earnings From Continuing Operations	-4.8	-5.41	-4.68	-11.79	12.23	-8.39
Earnings From Discontinued Operations	-	-	-	-	-	0
Net Income to Company	-4.8	-5.41	-4.68	-11.79	12.23	-8.39
Minority Interest in Earnings	-1.96	-0.73	-2.14	-0.51	-1.3	1.11
Net Income	-6.76	-6.14	-6.82	-12.3	10.93	-7.28
Net Income to Common	-6.76	-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)	-2.03%	-2.34%	-1.09%	-1.42%	0.21%	3.00%
EPS (Basic)	-2.49	-2.23	-2.42	-4.32	3.79	-2.52
EPS (Diluted)	-2.49	-2.23	-2.42	-4.32	3.78	-2.53
Free Cash Flow	-22.26	7.82	16.1	15.73	-48.05	-7.82
Free Cash Flow Per Share	-8.21	2.84	5.72	5.53	-16.64	-2.71
Gross Margin	23.23%	22.53%	19.66%	18.46%	22.86%	16.20%
Operating Margin	-2.91%	0.80%	0.44%	-1.57%	4.97%	-5.14%
Profit Margin	-2.48%	-2.10%	-2.38%	-4.97%	6.17%	-4.15%
Free Cash Flow Margin	-8.17%	2.68%	5.61%	6.36%	-27.13%	-4.47%
EBITDA	-2.91	6.7	4.06	0.28	10.66	-5.89
EBITDA Margin	-1.07%	2.30%	1.42%	0.11%	6.02%	-3.36%
D&A For EBITDA	5.01	4.36	2.8	4.16	1.86	3.11
EBIT	-7.92	2.34	1.26	-3.88	8.8	-9
EBIT Margin	-2.91%	0.80%	0.44%	-1.57%	4.97%	-5.14%
Effective Tax Rate	-	-	-	-	8.73%	-
Revenue as Reported	272.47	291.85	286.83	247.32	177.08	175.12

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q