AIR T INC (AIRT) Form 10-Q — Aug 14, 2026

$AIRTForm 10-QFiled Aug 14, 2026, 4:33 PM ET0000353184-26-000077Original filing

Air T's fiscal first quarter revenue jumped 63% year over year to $115.5 million, driven almost entirely by acquisitions — the Rex regional airline in Australia contributed $55.9 million in its first full quarter and the new aviation leasing and asset management segment added $1.4 million following the June 10 Arena acquisition. Profitability moved sharply the other way: the company posted a $15.7 million net loss, or $5.86 per share, versus a $0.7 million loss a year ago, as Rex lost $7.7 million at the operating level on $11.8 million of fuel expense and unscheduled engine removals, and interest expense more than doubled to $5.7 million.

Key figures

Revenue: 115461000
Revenue Yoy: 63%
Total Assets: 469063000
Cash Position: 16667000
Shares Outstanding: 2681748
Ocas Put Note: 3500000
Ceo Base Salary: 350000
Adjusted EBITDA: 804000
Rex Fuel Expense: 11800000
Working Capital: 47400000
Gse Order Backlog: 9000000
Interest Expense: 5673000
Tru Ps Outstanding: 52500000
Cam Redemption Gain: 1800000
Rex Adjusted EBITDA: 1922000
Alerus Overline Note: 2800000
Arena Purchase Price: 33900000
Cash Plus Restricted: 21654000
Ceo One Time Incentive: 36986
Cap Class BUnits Issued: 10000000
Buyback Shares Remaining: 741253
Available Credit Capacity: 42400000
Multiple Advance Note Rate: 8.5%
Multiple Advance Note Drawn: 75000000
Rex Measurement Period Ends: December 18, 2026
Shares Repurchased In Quarter: 9711
Multiple Advance Note Facility: 100000000
Multiple Advance Note Maturity: May 31, 2035
Rex Acquisition Consideration: 10200000
Rex Bargain Purchase Gain FY2026: 111200000
Ground Support Revenue Change Yo Y: -76%
Regional Airline Segment Revenue: 55909000
Cam Servicing Agreements Fair Value: 15500000
Arena Contingent Consideration Fair Value: 12200000

Price after filing

1 day: 0.0%7 days: -2.3%30 days: +4.3%

Close on the filing date to close N calendar days later (from $29.43). Historical, not a forecast.

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