Latest news with #AIROGroupHoldings
Yahoo
2 days ago
- Business
- Yahoo
AIRO Reports 151% Surge in Revenue in First Public Company Quarterly Results
By Daniella Parra Recent IPO AIRO Group Holdings, Inc. (Nasdaq: AIRO) posted its first results as a public company, with second quarter revenue surging 151% to $24.6 million and adjusted EBITDA reaching $4.7 million, up 710%. Gross margin expanded to 61.2% and net income was $5.9 million, up from a $5.6 million loss in the prior year quarter. 'We are proud to report our first earnings as a public company and to have successfully completed our IPO during the quarter,' Joe Burns, Chief Executive Officer of AIRO, said. '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.' READ MORE Benihana Deal Fires Up Growth at The ONE Group Hospitality – Quarterly Update Report Never Miss our Weekly Highlights Contact: Exec Edge Editor@ Click to follow us on LinkedIn Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
2 days ago
- Business
- Business Wire
AIRO Reports Second Quarter 2025 Financial Results
ALBUQUERQUE, N.M. & MONTREAL & STØVRING, Denmark & WASHINGTON--(BUSINESS WIRE)--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. 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 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. Second Quarter 2025 Financial Highlights Revenue of $24.6 million, up 151% year-over-year Gross margin expanded to 61.2% compared to 59.0% in the prior year quarter Record net income of $5.9 million, up from a $5.6 million loss in the prior year quarter Record EBITDA of $18.9 million, up from a loss of $1.1 million in the prior year quarter, resulting from a gain on extinguishment of debt and favorable fair value adjustments to contingent liabilities Adjusted EBITDA of $4.7 million, up 710% year-over-year Second Quarter 2025 Operational Highlights 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. 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. '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.' Dr. Chirinjeev Kathuria, Executive Chairman, added, '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.' Second Quarter 2025 Financial Results 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. 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. 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. 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.
Business Wire
4 days ago
- Business
- Business Wire
AIRO Announces Second Quarter 2025 Earnings Call Details
ALBUQUERQUE, N.M. & MONTREAL & STØVRING, Denmark & WASHINGTON--(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. AIRO to report its financial results for the second quarter 2025 at 8:00 a.m., ET, on Thursday, August 14, 2025 Share 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.
National Post
4 days ago
- Business
- National Post
AIRO Announces Second Quarter 2025 Earnings Call Details
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 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. Article content 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. Article content Article content 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 Article content Article content Article content Article content Article content Article content
Business Wire
17-06-2025
- Business
- Business Wire
AIRO Group Holdings, Inc. to Attend Paris Air Show 2025
ALBUQUERQUE, N.M. & MONTREAL & STØVRING, Denmark & WASHINGTON--(BUSINESS WIRE)--AIRO Group Holdings, Inc. (Nasdaq: AIRO)('AIRO' or the 'Company'), a company specializing in advanced aerospace and defense technologies, announced today that Company executives, including Executive Chairman and Co-Founder Dr. Chirinjeev Kathuria and CEO and Co-Founder Joe Burns, will attend the 55 th edition of the Paris Air Show, taking place from June 16 to June 22, 2025, in Paris, France. Experiencing triple-digit percentage year-over-year revenue growth, commanding global enterprise backlog and accelerating military training momentum Share Shares of AIRO common stock began trading on the Nasdaq Global Market under the ticker symbol 'AIRO' on June 13, 2025. AIRO's market debut comes amid strong historical financial performance for the Company and underscores its commitment to an integrated portfolio of cutting-edge technologies, including the development of fully autonomous AI-enabled surveillance drones, eVTOL hybrid and electric cargo aircraft, advanced avionics systems and comprehensive flight operations training solutions. In 2024, AIRO achieved over $86 million in revenue, reflecting growth of more than 100% from the previous year. This increase is attributed to an increase in drone shipments and support revenue driven by market entry strategies to target NATO member countries. 'The strength of AIRO lies in its diversified yet complementary portfolio of products and services, all centered around a unified aerospace and defense ecosystem,' said Executive Chairman, Dr. Chirinjeev Kathuria. 'AIRO's complementary business segments, with strategic locations in the US, Canada, and Europe, provide unparalleled access for our global client base. With significant year-over-year revenue and EBITDA growth, we believe our offerings are essential for both current and future operational landscapes.' Segment Overview AIRO's Drones (Uncrewed Air Systems) segment, the largest segment, experienced unprecedented revenue growth over the past two years, generating over $75 million in 2024. This success is largely due to the global demand for its military drone equipment and services, led by AIRO's branded RQ-35 Heidrun. 'The demand for our systems continues to rise globally, serving warfighters in challenging operational environments,' said CEO, Joe Burns. 'Our surveillance drone solutions have proven themselves in harsh battlefield conditions, offering precision, accuracy, and AI-enabled operational, communication and data analysis capabilities.' The Electric Air Mobility segment also saw significant progress into 2025, with a backlog of over 300 eVTOL aircraft orders from notable operators worldwide. AIRO's focus on cargo transportation, certification, and manufacturing in Canada, along with its patented Slowed Rotor Compound technology, positions it uniquely for certification in as early as 2027. 'Our eVTOL family has attracted attention due to its size, mission profiles, minimal noise footprint and cargo capacity,' said CEO, Joe Burns. AIRO's Training segment, renowned for delivering specialized military training solutions to the US Department of Defense (DoD) for over a decade, has recently secured a second-phase five-year Indefinite Delivery Indefinite Quantity (IDIQ) contract valued at over $5.7 billion. This contract focuses on providing Close Air Support (CAS) and Adversary Air pilot training. Under multiple IDIQ contracts—including the Combat Air Force/Commercial Air Service (CAF CAS II) and Terminal Air Attack Controller Trainer (TAACT) Contracts—AIRO's elite training teams deliver initial qualification and follow-on training for DoD clients on an ongoing basis. To enable it to provide a wide variety of specialized training operations, AIRO is expanding its aircraft fleet of L-39 and S-211 fighter jets and Twin-Cessnas equipped for these missions. 'We are proud to deliver high-caliber training support to our military partners,' said CEO, Joe Burns. 'Our expert aircrews and specialized aircraft aim to ensure our warfighters receive realistic and effective training. I am extremely proud of this dedicated team of specialized trainers operating AIRO's military training business.' This press release shall not constitute an offer to sell or the solicitation of an offer to buy AIRO securities, nor shall there be any sale of AIRO securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. 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 AIRO's operational landscapes, demand for AIRO's systems, timing and expectations regarding certification of its Slowed Rotor Compound technology, the expected value of its IDIQ contract and expansion of its aircraft fleet. 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. AIRO's expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and projections will result or be achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. Any forward-looking statement in this press release speaks only as of the date of this release. AIRO undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
