Company: AIRTP
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0000353184-25-000073
Chunk: 46

Company: AIR T INC
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 2
Chunk 46
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Cash Flows

Following is a table of changes in cash flow for the three months ended June 30, 2025 and 2024 (in thousands):

Three Months Ended June 30,20252024Net cash (used in) provided by operating activities$(1,095)$113 Net cash (used in) provided by investing activities(2,724)2,008 Net cash provided by (used in) financing activities12,577 (1,291)Effect of foreign currency exchange rates on cash and cash equivalents(292)32 Net Increase in Cash and Cash Equivalents and Restricted Cash$8,466 $862 

Net cash used in operating activities was $1.1 million for the three-month period ended June 30, 2025 compared to net cash provided by operating activities of $0.1 million in the prior year three-month period, representing a decrease of $1.2 million. The decrease was primarily attributable to an unfavorable change in inventory of $3.8 million driven by higher sales within the commercial aircraft, engines and parts segment in the prior period. This is partially offset by a $1.6 million increase in net income after adjustments in the current year period compared to the prior year period, and $1.3 million higher customer deposits received in the current year period compared to prior year period. 

Net cash used in investing activities for the three-month period ended June 30, 2025 was $2.7 million compared to net cash provided by investing activities of $2.0 million in the prior year period. The cash used in investing activities was primarily driven by investments in unconsolidated entities of $2.0 million in the current year period that did not occur in the prior year period, acquisition Royal of $1.2 million in addition to $1.5 million lower distributions received from unconsolidated entities in the current year period compared to the prior year period. 

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Net cash provided by financing activities for the three-month period ended June 30, 2025 was $12.6 million compared to net cash used in financing activities of $1.3 million in the prior year period. The cash provided by financing activities in the current year three-month period was primarily driven by $16.1 million more proceeds on the Company's term loans and revolving lines of credit. These changes were partially offset by $3.1 million more payments made on the Company's revolving lines of credit.

Non-GAAP Financial Measures