AIR INDUSTRIES GROUP (AIRI) Form 10-Q — Aug 12, 2026
Air Industries Group reported Q2 2026 net sales of $11,995,000, down from $12,659,000 a year earlier, as the net loss widened to $846,000 ($0.18 per share) from $422,000 ($0.11 per share). Gross profit improved to $2,483,000 on better cost of sales, but operating expenses rose to $2,849,000 from $2,020,000. The 10-Q carries explicit going-concern language: the Webster Bank credit facility expires September 30, 2026 and related-party subordinated notes mature October 1, 2026 — together roughly $28,885,000 of debt — and Webster has advised it does not want to renew.
Key figures
- Revenue
- 11995000
- Fccr attained
- 1.36
- Fccr required
- 1.1
- Funded backlog
- 139700000
- Q2 gross profit
- 2483000
- Rtx pct q2 sales
- 25.4
- Six month revenue
- 23601000
- Total liabilities
- 41114000
- Ontic pct q2 sales
- 10.8
- Shares outstanding
- 4850658
- Merger outside date
- 2026-11-30
- Reverse split ratio
- 1:5
- Stockholders equity
- 18102000
- Prior year q2 revenue
- 12659000
- Q2 operating expenses
- 2849000
- Credit facility expiry
- 2026-09-30
- Atm gross proceeds 2025
- 4869000
- Atm proceeds restricted
- 3930000
- Customer advance received
- 1971070
- Merger consideration shares
- 126900000
- Revolver borrowing capacity
- 1317000
- Lockheed martin pct q2 sales
- 28.1
- Related party notes maturity
- 2026-10-01
- Six month revenue prior year
- 24802000
- Debt adjusted air share price
- 3.05
- Operating cash flow prior year
- 1870000
- Operating cash flow six months
- 225000
- Total unfilled contract values
- 279000000
- Closing stock price june 30 2026
- 3.02
- Total atm proceeds since dec2024
- 5375000
- Post merger tenax ownership percent
- 96
- Merger consideration shares post split
- 25380000
- Debt adjusted air share price post split
- 15.25
- Debt credit facility plus related party notes
- 28885000
- Post merger existing holder ownership percent
- 4
Price after filing
Close on the filing date to close N calendar days later (from $2.58). Historical, not a forecast.
AI analysis
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