Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $66.9M | $49.9M | $44.5M | $54.6M | $50.1M | $58.9M | $53.2M | $51.5M | $55.1M | $47.9M |
| Revenue growth | — | -25.5% | -10.7% | 22.6% | -8.2% | 17.6% | -9.7% | -3.2% | 7.0% | -13.0% |
| Gross profit | $6.72M | $4.87M | $5.45M | $9.14M | $6.51M | $10.3M | $7.45M | $7.43M | $8.93M | $8.19M |
| Gross margin | 10.0% | 9.8% | 12.2% | 16.8% | 13.0% | 17.4% | 14.0% | 14.4% | 16.2% | 17.1% |
| Operating income | -$10.8M | -$12.8M | -$4.91M | $328K | -$1.44M | $2.49M | -$194K | -$295K | $459K | -$338K |
| Operating margin | -16.1% | -25.6% | -11.0% | 0.6% | -2.9% | 4.2% | -0.4% | -0.6% | 0.8% | -0.7% |
| Net income | -$15.6M | -$22.6M | -$11.0M | -$2.73M | $1.10M | $1.63M | -$1.08M | -$2.13M | -$1.37M | -$1.30M |
| Net margin | -23.3% | -45.2% | -24.7% | -5.0% | 2.2% | 2.8% | -2.0% | -4.1% | -2.5% | -2.7% |
| EPS (diluted) | -$2.06 | — | — | — | $0.05 | $0.45 | -$0.33 | -$0.65 | -$0.41 | -$0.31 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$692K | -$3.99M | -$2.34M | -$888K | -$1.52M | $4.06M | $448K | $4.86M | $324K | -$1.35M |
| Capital expenditures | $1.63M | $1.51M | $1.26M | $764K | $3.80M | $1.36M | $2.36M | $2.12M | $2.30M | $3.32M |
| Free cash flow | -$2.32M | -$5.50M | -$3.60M | -$1.65M | -$5.32M | $2.70M | -$1.91M | $2.74M | -$1.98M | -$4.67M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $1.30M | $630K | $2.01M | $1.29M | $2.50M | $627K | $281K | $346K | $753K | $4.61M |
| Total assets | $82.8M | $60.8M | $47.8M | $51.1M | $57.8M | $53.4M | $53.8M | $50.7M | $51.0M | $58.3M |
| Total liabilities | $57.9M | $43.0M | $36.1M | $40.9M | $42.7M | $36.0M | $37.0M | $35.5M | $36.1M | $39.1M |
| Long-term debt | $2.97M | $3.45M | $5.72M | $3.41M | $10.8M | $9.25M | $4.63M | $1.11M | $1.76M | $1.51M |
| Shareholders' equity | $24.9M | $17.8M | $11.6M | $10.2M | $15.1M | $17.4M | $16.8M | $15.2M | $14.9M | $19.2M |
| Retained earnings | -$31.0M | -$53.5M | -$64.5M | -$67.3M | -$66.2M | -$64.5M | -$65.6M | -$67.7M | -$69.1M | -$70.4M |
| Shares (wtd avg diluted) | 7.58M | 13.2M | 26.9M | 28.9M | 36.7M | 3.64M | 3.23M | 3.28M | 3.34M | 4.22M |
Every figure is extracted from AIR INDUSTRIES GROUP’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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