Company: AIRTP
Filing Date: 2025-08-12
Form Type: 10-K/A
Source: 0000353184-25-000069
Chunk: 59

Company: AIR T INC
Filing Date: 2025-08-12
Form: 10-K/A
Chunk 59
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 of $1.6 million in the prior fiscal year. The decrease in operating loss was primarily attributable to reduced headcount, partially offset by increased warranty expense in the current year.

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Operating income of the commercial aircraft, engines and parts segment was $7.1 million compared to operating income of $4.2 million in 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 Ended |        | March 31, 2025 |     |   |        | March 31, 2024 |     |        | Change |
|:---------------------------------------|:----|:--------------------|-------:|:---------------|:----|:--|-------:|:---------------|:----|-------:|:-------|
| Overnight Air Cargo                    |     | $                   |  6,808 |                |     | $ |  7,144 |                |     |   -336 |        |
| Ground Support Equipment               |     |                     |   -773 |                |     |   |   -949 |                |     |    176 |        |
| Commercial Aircraft, Engines and Parts |     |                     |  9,832 |                |     |   |  6,119 |                |     |  3,713 |        |
| Digital Solutions                      |     |                     |   -272 |                |     |   |    149 |                |     |   -421 |        |
| Segments total                         |     |                     | 15,595 |                |     |   | 12,463 |                |     |  3,132 |        |
| Corporate and Other                    |     |                     | -8,232 |                |     |   | -6,273 |                |     | -1,959 |        |
| Adjusted EBITDA                        |     | $                   |  7,363 |                |     | $ |  6,190 |                |     |  1,173 |