Company: AIRTP
Filing Date: 2025-08-12
Form Type: 10-K/A
Source: 0000353184-25-000069
Chunk: 119

Company: AIR T INC
Filing Date: 2025-08-12
Form: 10-K/A
Chunk 119
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,597 |     |   |      64 |
| Corporate and other                    |     |                      |   1,713 |     |   |   1,624 |
| Software Services                      |     |                      |         |     |   |         |
| Digital Solutions                      |     |                      |   7,268 |     |   |   5,783 |
| Other                                  |     |                      |         |     |   |         |
| Overnight air cargo                    |     |                      |     129 |     |   |     137 |
| Ground support equipment               |     |                      |     542 |     |   |     459 |
| Commercial aircraft, engines and parts |     |                      |     749 |     |   |     695 |
| Corporate and other                    |     |                      |     991 |     |   |     403 |
| Total                                  |     | $                    | 291,850 |     | $ | 286,834 |

See Note 18 for the Company's disaggregated revenues by geographic region and Note 19 for the Company’s disaggregated revenues by segment. These notes disaggregate revenue recognized from contracts with customers into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors.

Contract Balances and Costs

Contract liabilities relate to deferred revenue, our unconditional right to receive consideration in advance of performance with respect to subscription revenue and advanced customer deposits with respect to product sales. The following table presents outstanding contract liabilities as of April 1, 2024 and March 31, 2025 and the amount of contract liabilities that were recognized as revenue during the year ended March 31, 2025 (in thousands):

| As of March 31, 2025              |     | Outstanding contract liabilities | 4,199 |     | Outstanding contract liabilities as of April 1, 2024 
 Recognized as Revenue                                |        |
|:----------------------------------|:----|:---------------------------------|------:|:----|:-----------------------------------------------------|-------:|
| As of April 1, 2024               |     | $                                | 4,359 |     |                                                      |        |
| For the year ended March 31, 2025 |     |                                  |       |     | $                                                    | -3,705 |

16. EMPLOYEE BENEFITS

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The Company has a 401(k)