Company: AIRTP
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0000353184-25-000073
Chunk: 9

Company: AIR T INC
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 9
---
, engines and parts17,760 23,619 Corporate and other167 119 Support ServicesOvernight air cargo17,992 20,658 Ground support equipment419 166 Commercial aircraft, engines and parts2,242 2,199 Corporate and other16 14 Leasing RevenueGround support equipment— 15 Commercial aircraft, engines and parts1,755 39 Corporate and other455 464 Software ServicesDigital Solutions2,096 1,678 OtherOvernight air cargo121 26 Ground support equipment314 45 Commercial aircraft, engines and parts203 393 Corporate and other517 149 Total$70,870 $66,411 See Note 15 for the Company's disaggregated revenues by geographic region and Note 16 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.

17

Contract Balances and CostsContract 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, 2025 and June 30, 2025 and the amount of contract liabilities that were recognized as revenue during the three-month period ended June 30, 2025 (in thousands):Outstanding contract liabilitiesOutstanding contract liabilities as of April 1, 2025Recognized as RevenueAs of June 30, 2025$7,781 As of April 1, 2025$4,199 For the three months ended June 30, 2025$(1,577)

18

4.     Accrued Expenses and Other

(In thousands)June 30, 2025March 31, 2025Salaries, wages and related items$6,477 $6,235 Profit sharing and bonus827 2,980 Other Deposits2,965 513 Deferred Income4,816 3,686 Accrued insurance payable2,949 1,336 Other2,589 1,941 Total$20,623 $16,691 

5.    Income Taxes

During the three-month period ended June 30, 2025, the Company recorded $0.1 million in income tax benefit