Company: AIRTP
Filing Date: 2025-06-27
Form Type: 10-K
Source: 0000353184-25-000044
Chunk: 210

Company: AIR T INC
Filing Date: 2025-06-27
Form: 10-K
Item: Item 7
Chunk 210
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 the prior year. The increase was primarily attributable to increased sales of component packages with a higher gross profit, which offset the decrease in revenue noted above.

Operating loss for the digital solutions segment increased by $0.4 million year over year, attributable to increased personnel needed to continue to scale operations.

The table below provides Adjusted EBITDA for the Company's four segments and Corporate and other for the fiscal year ended March 31, 2025 and 2024 (in thousands):

Twelve Months EndedChangeMarch 31, 2025March 31, 2024Overnight Air Cargo$6,808 $7,144 (336)Ground Support Equipment(773)(949)176 Commercial Aircraft, Engines and Parts9,832 6,119 3,713 Digital Solutions(272)149 (421)Segments total15,595 12,463 3,132 Corporate and Other(8,232)(6,273)(1,959)Adjusted EBITDA$7,363 $6,190 1,173 

Consolidated Adjusted EBITDA for the fiscal year ended March 31, 2025 was $7.4 million, an increase of $1.2 million compared to the prior fiscal year.

Adjusted EBITDA for the overnight air cargo segment decreased by $0.3 million in the current fiscal year, due primarily to lower segment operating income as described above.

Adjusted EBITDA loss for the ground support equipment segment decreased by $0.2 million in the current fiscal year, primarily due to higher sales as described above.

Adjusted EBITDA of the commercial aircraft, engines and parts segment was $9.8 million, an increase of $3.7 million from the prior fiscal year. The increase was primarily driven by higher profit margins on sales as described above.

Adjusted EBITDA of the digital solutions segment decreased by $0.4 million in the current fiscal year, due primarily to higher personnel costs as described above.

Following is a table detailing consolidated non-operating income (expense), net of intercompany during fiscal 2025 and fiscal 2024 (in thousands):

Year Ended March 31,Change20252024Interest expense, net(8,387)(6,916)(1,471)Income from equity method investments1,700 1,689 11 Other(209)8 (217)Total$(6,896)$(5,219)$(1,677)

The Company