Company: AIRTP
Filing Date: 2025-06-27
Form Type: 10-K
Source: 0000353184-25-000044
Chunk: 351

Company: AIR T INC
Filing Date: 2025-06-27
Form: 10-K
Item: Item 8
Chunk 351
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 lag for the twelve months ended December 31, 2024 and December 31, 2023 are as follows (in thousands):Twelve Months Ended December 31,20242023Revenue$174,810 $143,208 Gross Profit20,942 19,137 Operating (loss) income(1,150)4,843 Net (loss) income(3,347)8,765 Net (loss) income attributable to Air T, Inc. stockholders$(1,286)$1,862 Summarized balance sheet financial information for the Company's equity method investees accounted for on a three month lag as of December 31, 2024 and December 31, 2023 are as follows (in thousands):December 31,20242023Current assets$48,327 $49,101 Noncurrent assets119,881 40,971 Total assets168,208 90,072 Current liabilities34,594 28,656 Noncurrent liabilities101,151 19,262 Total liabilities135,745 47,918 Noncontrolling interests2,841 689 The summarized income statement financial information for the Company's equity method investees accounted for without a reporting lag for the fiscal years ended March 31, 2025 and 2024 are as follows (in thousands):

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Year Ended March 31,20252024Revenue$31,516 $27,306 Gross Profit11,949 8,356 Operating (loss) income(228)1,311 Net income (loss)6,374 (1,552)Net income (loss) attributable to Air T, Inc. stockholders$3,054 $(80)Summarized balance sheet financial information for the Company's equity method investees accounted for on a three month lag as of March 31, 2025 and 2024 are as follows (in thousands):March 31,20252024Current assets$41,947 $37,275 Noncurrent assets26,856 28,460 Total assets68,803 65,735 Current liabilities6,194 5,959 Noncurrent liabilities1,090 1,399 Total liabilities7,284 7,358 Noncontrolling interests— — Net income (loss) attributable to Air T, Inc. stockholders for the Company's equity method investees, included in non-operating