Company: AIRTP
Filing Date: 2025-06-27
Form Type: 10-K
Source: 0000353184-25-000044
Chunk: 126

Company: AIR T INC
Filing Date: 2025-06-27
Form: 10-K
Item: Item 1A
Chunk 126
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531 Reconciliation of revenueOther revenue13,570 Elimination of intersegment revenue2(2,251)Total consolidated revenue$291,850 Cost of sales:Cost of sales from external sources$104,760 $84,896 $33,994 $2,462 Intersegment cost of sales911 1,323 — — 105,671 86,219 33,994 2,462 Less:3General and administrative$12,531 $24,113 $5,888 $5,078 Other segment items4489 2,583 268 792 Segment profit (loss)6,220 6,497 (1,210)(1,064)$10,443 Reconciliation of profit (loss)Other revenue13,570 Other cost of sales1(1,191)Other expenses1(3,930)Interest expense(8,387)Income from equity method investments1,700 Other non-operating expense(209)Other corporate expenses5(7,878)Elimination of intersegment profits894 Loss before income taxes$(4,988)

1 Revenue, cost of sales, and expenses from segments below the quantitative thresholds or that do not constitute a business segment are attributable to an investment advisory business, a laser printer manufacturer, and a commercial property owned by the Company.

2 Elimination of intersegment revenue includes eliminations related to Other revenue in the tables above totaling $174 thousand for the fiscal year ended March 31, 2025. After eliminations, Other revenue from third parties is $3,396 thousand for the fiscal year ended March 31, 2025.

3 The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. Intersegment expenses are included within the amounts shown.

4 Other segment items consist of depreciation and amortization and remeasurement of the earnout liability.

5 Other corporate expenses consist of unallocated expenses that are related to the activities of Corporate and other in support of the overall business. Unallocated expenses include, but are not limited to: shared services that are not allocated, costs associated with the corporate headquarters and, expenses related to identifying and pursuing new corporate business initiatives.

86

Year ended March 31, 2024Overnight Air CargoCommercial Aircraft, Engines and PartsGround Support EquipmentDigital SolutionsTotalRevenue from external customers$115,546 $125,535 $37,168 $