Air T (AIRT) investor relations material

Executive summary

• Operating revenue rose 63% year-over-year to $115.5 million, driven by the addition of the regional airline segment, primarily from the Rex acquisition, and growth in digital solutions, offset by declines in ground support equipment and commercial aircraft parts.

• Operating loss was $12.8 million versus income of $0.8 million in the prior year, mainly due to higher fuel costs, lower aircraft availability, and acquisition-related expenses.

• Net loss attributable to stockholders was $15.8 million, or $(5.86) per share, compared to a net loss of $1.6 million, or $(0.61) per share, in the prior year.

• Adjusted EBITDA was $0.8 million, down from $1.5 million in the prior year quarter.

Financial highlights

• Revenue: $115.5 million, up from $70.9 million year-over-year.

• Adjusted EBITDA: $0.8 million, down from $1.5 million in the prior year.

• Net loss: $15.8 million, compared to $1.6 million loss year-over-year.

• Cash and equivalents: $21.7 million as of June 30, 2026.

• Working capital: $47.4 million, down $17.0 million from March 31, 2026.

Outlook and guidance

• Management expects continued volatility in regional airline and ground support equipment segments due to fuel prices, aircraft availability, and timing of large orders.

• Sufficient liquidity is expected for at least 12 months, with $42.4 million in available credit lines.

• Ongoing integration of Arena and Rex acquisitions is expected to create further value.

• Shareholders are encouraged to use multiple analytical frameworks due to business seasonality and transaction-based volatility.