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National Post
5 days ago
- Business
- National Post
AIRO Reports Second Quarter 2025 Financial Results
Article content ALBUQUERQUE, N.M. & MONTREAL & STØVRING, Denmark & WASHINGTON — AIRO Group Holdings, Inc. (NASDAQ: AIRO) ('AIRO' or the 'Company'), a global leader in advanced aerospace and defense technologies, today announced financial results for the second quarter ended June 30, 2025. Article content The Company successfully completed its initial public offering ('IPO') of 6,900,000 shares of common stock, including the full exercise of the underwriters' option to purchase 900,000 additional shares, on June 16, 2025, raising $69.0 million in gross proceeds before deducting underwriting discounts and commissions and other offering expenses payable by AIRO. AIRO intends to use the proceeds from the IPO, together with its existing cash and restricted cash, to support growth initiatives across each segment, repay debt and for general corporate purposes. Article content Article content Second Quarter 2025 Financial Highlights Article content Announced U.S. Manufacturing Expansion to Scale Drone Production. Building on global demand for its RQ-35 Heidrun ISR drone, AIRO announced plans to establish a new U.S. manufacturing and engineering facility to support increased demand and accelerate next-generation drone development. The facility is expected to enhance production capacity, foster innovation in autonomous unmanned systems, and meet AS9100 aerospace quality standards to support both defense and commercial markets. Article content Completed Naval Special Warfare Training Mission; Secured $30M+ in Defense Contracts to Date. AIRO successfully concluded a specialized 90-day training mission for Naval Special Warfare and launched new operations under multi-year IDIQ contracts, reinforcing its leadership in military training. The Company supported Joint Terminal Attack Controller (JTAC) programs with ISR aircraft, CAS operations, and live-fire simulations across multiple U.S. states. To date, AIRO has secured over $30 million in contract awards tied to Naval Special Warfare and expanded support for international training exercises. Introduced Middle-Mile Cargo Drone; Expanded into YMX Innovation Zone (Canada). Through its Electric Air Mobility segment, AIRO unveiled a next-generation, medium-lift cargo drone capable of transporting 250–500 lbs. over 200+ miles. Supported by Jaunt Air Mobility's proprietary Slowed-Rotor Compound (SRC) technology, the platform targets middle-mile logistics applications with enhanced performance and safety. Simultaneously, AIRO expanded operations into Quebec's YMX Innovation Zone, accelerating real-world testing, certification, and deployment of electric air mobility solutions. Article content 'We are proud to report our first earnings as a public company and to have successfully completed our IPO during the quarter,' said Joe Burns, Chief Executive Officer of AIRO. 'This milestone positions us to accelerate investments in next-generation aerospace capabilities across all four of our strategic segments. In the second quarter, we saw strong commercial traction and technology milestones across the Drone segment. Our team remains focused on disciplined execution as we scale our business to meet growing global demand for autonomy-driven aerospace solutions.' Article content Dr. Chirinjeev Kathuria, Executive Chairman, added Article content , 'This is a transformative time for AIRO. We have built a platform with the infrastructure, vision, and leadership to address the evolving needs of defense, commercial aviation, and advanced mobility markets. The IPO strengthened our capital base, and we are now focused on unlocking long-term value through innovation and strategic execution.' Article content Second Quarter 2025 Financial Results Article content Revenue for the second quarter of 2025 was $24.6 million, an increase of 151% compared to $9.8 million in the prior-year period. This increase was primarily driven by Drone revenue for the second quarter which increased 216% to $22.0 million, driven by deferred Q1 orders in the Drones segment and increased Training segment revenue of 91% to $1.1 million, primarily driven by increased activity under multiple IDIQ contracts, partially offset by decreased revenue in the Avionics segment. Article content Gross profit for the quarter was $15.0 million, up from $5.8 million in the second quarter of 2024, representing a gross margin of 61.2% compared to 59.0% in the same quarter of the prior year. Gross margin improvement was driven by increases in the Training and Avionics segments, partially offset by a decrease in gross margin within the Drones segment, primarily reflecting product discounting and the mix of products sold during the period. Article content Net income for the second quarter was $5.9 million, compared to a net loss of $5.6 million in the prior-year period. Net income benefitted from a gain on the extinguishment of debt and favorable fair value adjustments to the Company's contingent liabilities. Article content 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. Article content As of June 30, 2025, cash and cash equivalents totaled $40.3 million. Article content 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. Article content Conference Call and Webcast Article content 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. Article content About AIRO Article content 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. Article content Forward-Looking Statements Article content 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. Article content Non-GAAP Financial Measures Article content 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. Article content 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. Article content 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 Article content 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 % Article content 1 Article content 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. Article content Article content Article content Article content Article content Contacts Article content Investor Relations Contact Article content Article content Dan Johnson Article content Article content Article content Article content
Yahoo
7 days ago
- Business
- Yahoo
AIRO Announces Second Quarter 2025 Earnings Call Details
ALBUQUERQUE, N.M. & MONTREAL & STØVRING, Denmark & WASHINGTON, August 12, 2025--(BUSINESS WIRE)--AIRO Group Holdings, Inc. (Nasdaq: AIRO) ("AIRO" or the "Company"), a global leader in advanced aerospace and defense technologies, today announced that it will host a conference call to report its financial results for the second quarter 2025 at 8:00 a.m., ET, on Thursday, August 14, 2025. Participants can join the call by dialing 1 (800)-715-9871 (US) or 1 (646)-307-1963 (international) and enter the access code 4209950. To listen to the live audio webcast and Q&A, visit the Event & Presentations section of AIRO's investor relations website at AIRO Group Holdings, Inc. - Events & Presentations, or by clicking on the link HERE. To avoid delays, it is recommended that participants dial into the conference call 15 minutes ahead of the scheduled start time. A replay of the webcast will be available on the website within 24 hours after the call. The earnings press release and related materials will also be available on AIRO's investor relations website at 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. View source version on Contacts Investor Relations Contact Dan JohnsonAIRO Group Holdings, media@
Yahoo
11-08-2025
- Business
- Yahoo
AIRO Group Holdings Announce the Development of Its New Middle-Mile Cargo Drone
AIRO Group Holdings, Inc. (NASDAQ:AIRO) is one of the Best Small-Cap Drone Stocks to Invest In. On July 22, AIRO Group Holdings, Inc. (NASDAQ:AIRO) announced the development of its new middle-mile cargo drone. At the EAA AirVenture 2025 in Oshkosh, AIRO Group revealed that it is introducing a new drone that will be a medium-lift cargo drone. Moreover, the company announced the expansion of its operations into the YMX Innovation Zone in Mirabel, Quebec. AIRO Group's electric mobility segment, Jaunt Air Mobility, and its Canadian subsidiary, Jaunt Air Mobility Canada, are leading this initiative. AIRO Group's new cargo drone is designed to carry almost 250 to 500 pounds and cover distances of over 200 miles. This cargo drone is an efficient, low-emission alternative to conventional middle-mile freight options, including box trucks and tractor-trailers. AIRO's new drone will be equipped with a modular Ground Control System that will offer real-time flight monitoring, dynamic mission planning, and secure communications management. 'We're thrilled to unveil our cargo drone—an innovative solution designed to serve both remote and urban communities. Our work on the CORRIDAIR Project with our partner Vertiko Mobilité demonstrated the transformative potential of this technology, especially for First Nation communities in rural Quebec, where access to critical medical supplies and fuel is limited. Building on that success, and integrating advanced drone technologies from across AIRO, we believe that we're uniquely positioned to harness the full capabilities of YMX's infrastructure and ecosystem,' said Martin Peryea, SVP & GM of AIRO's Electric Air Mobility segment and leader of Jaunt. AIRO Group Holdings, Inc. (NASDAQ:AIRO) is an aerospace and defense company involved in manufacturing drones for different industries. The company operates through the following segments: Drones, Avionics, Training, and Electric Air Mobility. While we acknowledge the potential of AIRO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
11-08-2025
- Business
- Yahoo
Gabelli Funds to Host 31st Annual Aerospace & Defense Symposium at The Harvard Club, New York City Thursday, September 4, 2025
GREENWICH, Conn., Aug. 11, 2025 (GLOBE NEWSWIRE) -- Gabelli Funds, LLC, is hosting our annual Aerospace & Defense Symposium at The Harvard Club in New York City on September 4th. The conference will draw top executives from more than ten companies, with a focus on the themes of strong demand outlook, high barriers to entry, large aftermarket opportunity, growth in excess of GDP, defense spending, and M&A potential for the Aerospace and Defense industry. Attendees will also have the opportunity to meet with management in a one-on-one setting. Prospective attendees can learn more about the symposium on our website. Featured Companies AIRO Group Holdings, Inc. (NASDAQ: AIRO) Elbit Systems Ltd. (NASDAQ: ESLT) Albany International Corp. (NYSE: AIN) Graham Corporation (NYSE: GHM) AstraNav, Inc. (Private) HEICO Corporation (NYSE: HEI) Astronics Corporation (NASDAQ: ATRO) Moog Inc. (NYSE: MOG-A) Avio S.p.A. (Milan: AVIO) New Horizon Aircraft Ltd. (NASDAQ: HOVR) Bridger Aerospace Group Holdings, Inc. (NASDAQ: BAER) Redwire Corporation (NYSE: RDW) Crane Company (NYSE: CR) Rheinmetall AG (XETRA: RHM) Curtiss-Wright Corporation (NYSE: CW) StandardAero, Inc. (NYSE: SARO) DroneShield Limited (ASX: DRO) TAT Technologies Ltd. (NASDAQ: TATT) Ducommun Incorporated (NYSE: DCO) Textron Inc. (NYSE: TXT) The Harvard Club, New York City Thursday, September 4, 2025 starting at 8:30 am Registration link: CLICK HERE Contact General Inquiries Isabella DeLucaClient RelationsP: 914-921-5101E : ideluca@ Sadie KeatingMarketing AssociateP: 914-921-5107E : skeating@ Research Team Tony BancroftPortfolio ManagerP: 914-921-5083E: tbancroft@ Michael BurgioResearch AnalystP: 914-921-7797E: mburgio@ Daniel GleimResearch AnalystP: 914-921-7797E: dgleim@ Gabelli Funds, LLC is a registered investment adviser with the Securities and Exchange Commission and is a wholly owned subsidiary of GAMCO Investors, Inc. Contact:Tony Bancroft, Portfolio Manager(914) 921-5083Error in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
04-08-2025
- Business
- Yahoo
Gabelli Funds to Host 31st Annual Aerospace & Defense Symposium at The Harvard Club, New York City Thursday, September 4, 2025
GREENWICH, Conn., Aug. 04, 2025 (GLOBE NEWSWIRE) -- Gabelli Funds, LLC, is hosting our annual Aerospace & Defense Symposium at The Harvard Club in New York City on September 4th. The conference will draw top executives from more than ten companies, with a focus on the themes of strong demand outlook, high barriers to entry, large aftermarket opportunity, growth in excess of GDP, defense spending, and M&A potential for the Aerospace and Defense industry. Attendees will also have the opportunity to meet with management in a one-on-one setting. Prospective attendees can learn more about the symposium on our website. Featured Companies AIRO Group Holdings, Inc. (NASDAQ: AIRO) Elbit Systems Ltd. (NASDAQ: ESLT) Albany International Corp. (NYSE: AIN) Graham Corporation (NYSE: GHM) AstraNav, Inc. (Private) HEICO Corporation (NYSE: HEI) Astronics Corporation (NASDAQ: ATRO) Moog Inc. (NYSE: MOG-A) Avio S.p.A. (Milan: AVIO) New Horizon Aircraft Ltd. (NASDAQ: HOVR) Bridger Aerospace Group Holdings, Inc. (NASDAQ: BAER) Redwire Corporation (NYSE: RDW) Crane Holdings Co. (NYSE: CR) Rheinmetall AG (XETRA: RHM) Curtiss-Wright Corporation (NYSE: CW) StandardAero, Inc. (NYSE: SARO) DCX Systems Limited (NSE: DCXINDIA) TAT Technologies Ltd. (NASDAQ: TATT) DroneShield Limited (ASX: DRO) Textron Inc. (NYSE: TXT) Ducommun Incorporated (NYSE: DCO) The Harvard Club, New York CityThursday, September 4, 2025, starting at 8:30 am Registration link: CLICK HERE Contact General Inquiries Isabella DeLucaClient RelationsP: 914-921-5101E: ideluca@ Sadie KeatingMarketing AssociateP: 914-921-5107E: skeating@ Team Tony BancroftPortfolio ManagerP: 914-921-5083E: tbancroft@ Michael BurgioResearch AnalystP: 914-921-7797E: mburgio@ Daniel GleimResearch AnalystP: 914-921-7797E: dgleim@ Gabelli Funds, LLC is a registered investment adviser with the Securities and Exchange Commission and is a wholly owned subsidiary of GAMCO Investors, Inc. Contact:Tony Bancroft, Portfolio Manager(914) 921-5083Sign in to access your portfolio
