Mr. Saimik Sen, Editor – Herald Global Felicitated Pride of India – Goa Edition, Brand Of The Year at The Great Gather Goa Summit 2025
Mumbai, Maharashtra, Bangalore, Karnataka, New Delhi, Delhi, India: The Great Gather Goa Summit 2025 was held on the 25th May 2025 at the Hilton Hotel, Goa. The event commenced with a recognition ceremony led by Mr. Saimik Sen, Editor-In-Chief, Herald Global, setting a high-spirited tone. The conclave garnered attention due to the presence of notable individuals such as Shri Jivba Dalvi – The Deputy Superintendent of Goa Police, Ms. Asha Arondekar – Chairperson, Women's Wing Of Goa Chamber Of Commerce, Dr. Jennifer Lewis – Chairperson at Indian Concrete Industry, Shri Nitin Raiker – Director of Fire & Emergency Services- Government of Goa, Shri Agnelo Fernandes – Commissioner- Labour & Employment, Government of Goa as Pride of India – Goa Awards. Also, Shri Jivba Dalvi and Ms. Asha Arondekar delivered an uplifting speech, leaving a lasting impression on all the awardees. Shri Nitin Raiker's words of wisdom took the event's beauty to the next level. The Great Gather Goa Summit is a platform to bring together various visionaries, thought leaders, heads of state, policymakers, academicians and corporate heads who play a pivotal role in shaping industries with their inspiring contributions. The event also included the recognition of various individuals from different fields including Mr. Aneesh Gera, Ms. Pooja Bedi and Dr. Sujit Paul who were felicitated as Influential Leaders of India.
Moreover, the award ceremony witnessed the presence of Mr. Keatan Jadhav, Mr. Albino Gomes, Mr. Vincy Barretto, Ms. Cecille Rodrigues, Ms. Sakshi Kurtarkar, Mr. Amit Rajput, Chef Avinash Martins, Ms. Odette Mascarenhas, Dr. Prajal Sakhardande, Mr. Ali Mohammed, Ms. Frederika Menezes, Mr. John Aguiar, Mr. Tsumyoki, Ms. Inika Hadfadkar, Mr. Brahmanand Sankhwalkar, Ms. Yolanda D'Souza, Mr. Shadab Jakati, Ms. Cecille Rodrigues, Ms. Sonia Shirsat. These accomplished individuals were honored with Influential Leaders Of Goa awards in their respective categories.
The Great Gather Goa Summit 2025 included the unveiling of the Brand Of The Year, a listing of remarkable brands that have redefined the benchmarks in their respective fields through their legacy and sustainability in the market. The winners were selected after a rigorous three phases of research conducted by the BARC Asia research team which included secondary research, primary survey and the rating given by independent jury members. Here is the listing of the Brand Of The Year awards: Tata Tiscon, BMW India, Havells, Lifebuoy, Ashok Leyland, AM/NS India, Swiggy, Fenesta, FEVICOL, Pillsbury, Himalaya BabyCare, Renom Energy Services Pvt. Ltd., Saffola, ECE Elevators, Fortis Hospitals, Chitale Bandhu, Hexaware Technologies, Kosol Energie Pvt. Ltd., Forevermark Diamond, Timken India, Wolken Software, EasyBuy, Visionet, DavaIndia, LEO Taps and Fittings, LUX COZI HomeSure, Roswalt Realty and Samsung Galaxy S25 Series. UTL Solar was awarded as Brand Of the Decade 2025 for completing 10 years in the industry.
Finally, The Great Gather Goa Summit was concluded by the last unique category, known as the 'Marketing Meisters'. This category was specially curated to felicitate various dignitaries who have successfully led their brands to reach unwavering heights. The awardees were Mr. S. Sathish Kumar Pillai, Mr. Mayur Hola, Ar. Shantanoo Vishwanath Rane, The Marketing Team – Visionet, Ms. Anita Dobhal, Mr. Sanjay Koul, Ms. Kalyani Vartak, Ms. Pooja Rawal, Ms. Nidhi Alexander, The Marketing Team – Wolken Software, Ms. Sushmita Nag, Mr. Bhupendra Shivhare, Ms. Ashwini Jagadishchander, Mr. Shiv Kumar Singh. The event wrapped up with the announcement of the next edition of awards is scheduled at ITC Maratha, Mumbai on the 21st August 2025. With this leap of success, Herald Global aspires to create another milestone with its next edition of leadership summit. Please check the below links for further information: www.prestigiousbrands.cowww.herald.globalwww.barc.asia
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Net income benefitted from a gain on the extinguishment of debt and favorable fair value adjustments to the Company's contingent liabilities. EBITDA for the second quarter was $18.9 million, compared to ($1.1) million for the prior year period. Adjusted EBITDA was $4.7 million for the quarter; a significant increase compared to second quarter adjusted EBITDA of $0.6 million in the prior year. Adjusted EBITDA margin was 19.1% for the second quarter of 2025, compared to 5.9% in the prior year quarter. As of June 30, 2025, cash and cash equivalents totaled $40.3 million. EBITDA, Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See 'Non-GAAP Financial Measures' below for the definition of each non-GAAP financial measure and the tables that follow for a reconciliation of each of these non-GAAP measures to net income, the most comparable GAAP measure. Conference Call and Webcast AIRO will host a conference call to discuss its second quarter 2025 results and business outlook on August 14, 2025, at 8:00 AM ET. A live webcast and accompanying presentation will be available on the Company's investor relations website at A webcast replay of the call will be available at for 12 months. About AIRO AIRO is a technologically differentiated aerospace, autonomy, and air mobility platform targeting 21st century aerospace and defense opportunities. AIRO is organized into four operating segments, each of which represents a critical growth vector in the aerospace and defense market: Drones, Avionics, Training, and Electric Air Mobility. Forward-Looking Statements The statements contained in this press release that are not historical facts are forward-looking statements. You can identify forward-looking statements because they contain words such as 'believes,' 'expects,' 'may,' 'will,' 'should,' 'seeks,' 'intends,' 'plans,' 'estimates,' or 'anticipates,' or similar expressions which concern our strategy, plans, projections or intentions. These forward-looking statements may be included throughout this press release, and include, but are not limited to, statements relating to estimates and forecasts of financial and performance metrics, the intended use of proceeds from AIRO's IPO, the development, expected capabilities of the Jaunt cargo drone, AIRO's operational landscapes, demand for AIRO's systems and products, AIRO's plans for a manufacturing and engineering development facility, expectations concerning future products and developments, the market acceptance and opportunity of AIRO's products and services, and other statements that are not historical fact. By their nature, forward-looking statements are not statements of historical fact or guarantees of future performance and are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify, including those described in the section titled 'Risk Factors' in AIRO's Quarterly Report on Form 10-Q for the period ended June 30, 2025 filed with the Securities and Exchange Commission ('SEC') on August 13, 2025 as well as other filings AIRO may make with the SEC in the future. Forward-looking statements represent AIRO's management's beliefs and assumptions only as of the date such statements are made. AIRO undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. Non-GAAP Financial Measures To supplement its condensed consolidated financial statements prepared and presented in accordance with GAAP, AIRO uses EBITDA, Adjusted EBITDA and Adjusted EBITDA margin, as described below, to facilitate analysis of its financial and business trends and for internal planning and forecasting purposes. AIRO defines (1) EBITDA as net income (loss) before interest expense, income tax expense or provision, depreciation and amortization, (2) Adjusted EBITDA as net income (loss) before interest expense, income tax expense, depreciation and amortization, gain on extinguishment of debt, stock-based compensation, contingent consideration and warrant fair value adjustments, and other one-time adjustments related to the IPO, and (3) Adjusted EBITDA margin as Adjusted EBITDA divided by revenue. The above items are excluded from EBITDA and Adjusted EBITDA because these items are either non-cash in nature, or because the amount and timing of these items is unpredictable, or because they are not driven by core results of operations, thereby rendering comparisons with prior periods and competitors less meaningful. AIRO believes EBITDA, Adjusted EBITDA and Adjusted EBITDA margin provide useful information to investors and others in understanding and evaluating its results of operations, as well as provides useful measures for period-to-period comparisons of its business performance. Moreover, Adjusted EBITDA is a key measurement used by AIRO management internally to make operating decisions, including those related to analyzing operating expenses, evaluating performance, and performing strategic planning and annual budgeting. There are limitations associated with the use of non-GAAP financial measures. These non-GAAP financial measures should not be considered as alternatives to performance measures derived in accordance with GAAP. AIRO's presentation of these non-GAAP financial measures should not be construed to imply that its future results will be unaffected by items that are excluded from these metrics. In addition, AIRO's definitions of these non-GAAP financial measures may be different from similarly titled non-GAAP measures used by other companies. These non-GAAP financial measures have limitations as an analytical tool, and you should not consider any of these non-GAAP financial measures in isolation or as a substitute for analysis of our results as reported under GAAP. See the tables that follow for a reconciliation of EBITDA and Adjusted EBITDA to net income (loss), and Adjusted EBITDA Margin to net income (loss) margin, the most directly comparable financial measures stated in accordance with GAAP. AIRO GROUP HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 Revenue $ 24,550,193 $ 9,780,336 $ 36,344,878 $ 23,520,272 Cost of revenue 9,515,626 4,005,251 14,377,786 9,258,106 Gross profit 15,034,567 5,775,085 21,967,092 14,262,166 Operating expenses: Research and development 4,101,005 3,161,395 7,767,469 6,318,255 Sales and marketing 1,758,223 1,409,648 3,191,221 2,660,058 General and administrative 28,864,680 3,897,598 33,778,492 8,440,883 Total operating expenses 34,723,908 8,468,641 44,737,182 17,419,196 Loss from operations (19,689,341 ) (2,693,556 ) (22,770,090 ) (3,157,030 ) Other income (expense): Interest expense, net (8,010,246 ) (953,260 ) (9,277,321 ) (1,241,748 ) Gain on extinguishment of debt 15,559,069 - 15,559,069 - Other income (expense), net 20,068,254 (1,514,016 ) 22,730,295 (1,782,165 ) Total other income (expense) 27,617,077 (2,467,276 ) 29,012,043 (3,023,913 ) Income (loss) before income tax expense 7,927,736 (5,160,832 ) 6,241,953 (6,180,943 ) Income tax expense (2,057,307 ) (439,009 ) (2,344,279 ) (1,428,587 ) Net income (loss) $ 5,870,429 $ (5,599,841 ) $ 3,897,674 $ (7,609,530 ) Net income (loss) per share – basic $ 0.32 $ (0.34 ) $ 0.22 $ (0.46 ) Net income (loss) per share – diluted $ 0.30 $ (0.34 ) $ 0.20 $ (0.46 ) Weighted-average number of shares of common stock used in computing net income (loss) per share, basic 18,490,316 16,387,180 17,444,558 16,387,180 Weighted-average number of shares of common stock used in computing net income (loss) per share, diluted 19,472,648 16,387,180 19,592,255 16,387,180 Expand AIRO GROUP HOLDINGS, INC. Adjusted EBITDA Reconciliation (Unaudited) Three Months Ended Six Months Ended (in thousands, except percentages) June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Net income (loss) $ 5,871 $ (5,600 ) $ 3,898 $ (7,610 ) Depreciation and amortization 2,988 3,108 6,126 6,344 Income tax expense 2,057 439 2,344 1,429 Interest expense, net 8,010 954 9,277 1,242 EBITDA 18,926 (1,099 ) 21,645 1,405 Gain on extinguishment of debt (15,559 ) - (15,559 ) - Stock-based compensation 18,638 179 18,763 471 Contingent consideration fair value adjustments (17,534 ) 1,500 (20,272 ) 1,700 Warrant fair value adjustment (1,843 ) - (1,843 ) - IPO contingencies 1 2,070 - 2,070 - Adjusted EBITDA $ 4,698 $ 580 $ 4,804 $ 3,576 Net income (loss) margin 23.9 % (57.3 )% 10.7 % (32.4 )% Adjusted EBITDA Margin 19.1 % 5.9 % 13.2 % 15.2 % Expand 1 IPO contingencies are made up of $1.2 million related to financial advisory services, $0.8 million related to the legal settlement, $0.5 million legal accrual, $0.3 million bonus, $0.6 million Aspen contingent debt, $0.1 million cash portion of the Aspen carve-out, net of a $1.4 million gain on deferred compensation.
