Company: AIRTP
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0000353184-25-000073
Chunk: 1

Company: AIR T INC
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 1
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 non-controlling interest— 146 Other(243)1 Total Other Comprehensive Gain (Loss)182 (106)Total Comprehensive Loss(489)(74)Comprehensive Income Attributable to Non-controlling Interests(965)(367)Comprehensive Loss Attributable to Air T, Inc. Stockholders$(1,454)$(441)

See notes to condensed consolidated financial statements.

6

AIR T, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED) 

(In thousands, except share amounts)June 30, 2025March 31, 2025ASSETSCurrent Assets:Cash and cash equivalents $14,460 $5,932 Marketable securities485 422 Restricted cash513 575 Restricted investments758 683 Accounts receivable, net of allowance for doubtful accounts of $1,422 and $1,33824,633 23,917 Income tax receivable1,016 681 Inventories, net39,886 38,516 Prepaid expenses3,811 3,103 Other current assets7,371 4,678 Total Current Assets92,933 78,507 Notes Receivable - Lendway, Inc. ("Lendway")3,350 3,350 Notes Receivable - CAM2,500 2,500 Assets on lease or held for lease, net of accumulated depreciation of $2,039 and $1,45114,073 14,662 Property and equipment, net of accumulated depreciation of $9,635 and $9,24020,116 20,285 Intangible assets, net of accumulated amortization of $6,841 and $6,33010,438 10,020 Right-of-use ("ROU") assets 12,898 13,274 Equity method investments19,900 19,003 Other assets1,926 1,635 Goodwill11,903 10,542 Total Assets190,037 173,778 LIABILITIES AND STOCKHOLDERS' DEFICITCurrent Liabilities:Accounts payable17,932 17,782 Accrued expenses and other (Note 4)20,623 16,691 Current portion of long-term debt6,080 9,099 Current portion of long-term debt - related party (Note 13)1,431 1