Core Insights - CPI Aerostructures Inc. shares increased by 17.52% in after-hours trading, reaching a price of $3.69 [1] Management Changes - CPI Aerostructures appointed Robert Mannix as Chief Financial Officer and Secretary, effective Tuesday [2] - Mannix has a background as Executive Vice President, Chief Accounting Officer, and Head of Tax and Treasury at West Technology Group LLC, and has held senior finance roles at Verint Systems Inc. and Motorola Inc. [2] - Mannix succeeds Pamela Levesque, who served as Interim CFO and Secretary [3] Compensation Details - Mannix's annual base salary is set at $300,000 [3] - Starting from fiscal 2026, he is eligible for a 40% target bonus and a 40% long-term incentive award, both based on his base salary and payable in restricted stock [3] Trading Performance - CPI Aerostructures' stock is down 27.15% year to date but has increased by 7.53% over the past six months [4] - The company has a market capitalization of $41.40 million, with a stock price range of $2.02 to $5.85 over the past year [4] - Current trading metrics indicate long-term consolidation with medium- and short-term upward movement [4]

Core Insights - CPI Aerostructures, Inc. has appointed Robert Mannix as the new Chief Financial Officer, succeeding Pamela Levesque, who will remain on the Board of Directors [1][5] Company Overview - CPI Aero is a prime contractor to the U.S. Department of Defense and a Tier 1 subcontractor to major aerospace and defense contractors, providing engineering, program management, supply chain management, assembly operations, and MRO services [6] - The company is recognized for its capabilities in aircraft structural assemblies, military advanced tactical pod structures, engine air inlets, and complex welded products, combining large-company capabilities with small-company value and responsiveness [6] Leadership Background - Robert Mannix brings over 30 years of experience in financial operations, including roles in accounting, financial reporting, audit and compliance, treasury, tax, and financial planning [2] - Prior to joining CPI Aero, Mannix held senior positions at West Technology Group and Verint Systems, and began his career at Ernst & Young [3][4]

Core Points - CPI Aerostructures, Inc. announced the appointment of Dorith Hakim to the Executive Committee of the Aerospace Industry Association (AIA), which advocates for the U.S. aerospace and defense industry [1][2] - AIA represents a wide range of member companies and focuses on legislative, policy, and technological issues, as well as developing standards for aerospace products [1] - Dorith Hakim emphasized the importance of small businesses in the aerospace sector, noting that CPI Aero represents 96% of AS9100 Series Certified Small Businesses with fewer than 500 employees [2] Company Overview - CPI Aero is a prime contractor to the U.S. Department of Defense and a Tier 1 subcontractor to major aerospace and defense contractors globally [3] - The company provides a range of services including engineering, program management, supply chain management, assembly operations, and MRO services [3] - CPI Aero is recognized for its capabilities in aircraft structural assemblies, military advanced tactical pod structures, engine air inlets, and complex welded products [3]

Core Insights - CPI Aerostructures, Inc. announced the appointment of Dorith Hakim to the Executive Committee of the Aerospace Industry Association (AIA), which advocates for the U.S. aerospace and defense industry [1][2] Group 1: Company Overview - CPI Aero is a prime contractor to the U.S. Department of Defense and a Tier 1 subcontractor to major aerospace and defense contractors globally [3] - The company provides a range of services including engineering, program management, supply chain management, assembly operations, and MRO services [3] - CPI Aero is recognized for its capabilities in aircraft structural assemblies, military advanced tactical pod structures, engine air inlets, and complex welded products [3] Group 2: Industry Representation - Dorith Hakim emphasized the importance of representing CPI Aero, which is part of 96% of AS9100 Series Certified Small Businesses with fewer than 500 employees, in shaping policy alongside larger Prime/OEM A&D companies [2]

Core Points - CPI Aerostructures, Inc. has received a contract from Raytheon for the manufacturing of Pods and Air Management Systems valued at up to $42.3 million, with initial funding of $21.1 million [1] - The contract is part of the Lot 5 Production phase for the Next Generation Jammer Mid-Band (NGJ-MB) program, with deliveries expected to begin in 2027 [1][2] - The NGJ-MB system is designed to enhance capabilities in disrupting enemy air defense and ground communication systems, replacing the legacy ALQ-99 Tactical Jamming System [2] - CPI Aero is recognized for its performance in delivering the NGJ-MB Pods and Air Management Systems on or ahead of schedule, highlighting the critical need for this capability as communicated by the U.S. Navy and Raytheon [3] - CPI Aero serves as a prime contractor to the U.S. Department of Defense and a Tier 1 subcontractor to major aerospace and defense contractors, providing a range of services including engineering and program management [4]

Revenue Performance - Third quarter 2025 revenue was $19.3 million, slightly down from $19.4 million in Q3 2024, while nine-month revenue decreased to $49.8 million from $59.3 million[8]. - Net income for Q3 2025 increased by 49% to $1.1 million compared to $0.7 million in Q3 2024, while the nine-month period showed a net loss of $1.5 million compared to a net income of $2.3 million in the same period last year[4][8]. - The company reported a basic earnings per share of $0.09 for Q3 2025, compared to $0.06 in Q3 2024, while the nine-month period showed a loss per share of $(0.12) compared to earnings of $0.19[8][16]. Profitability Metrics - Gross profit for Q3 2025 was $4.3 million, with a gross margin of 22.3%, up from 21.7% in Q3 2024; however, nine-month gross profit fell to $6.6 million, with a gross margin of 13.3%[8]. - Adjusted EBITDA for Q3 2025 was $1.9 million, a 17% increase from $1.7 million in Q3 2024; however, nine-month adjusted EBITDA was $(0.6) million, significantly down from $5.5 million[4][8]. - The termination of the Boeing A-10 Program significantly impacted financial results, with a nine-month adjusted EBITDA of $3.9 million when excluding this impact[8][22]. Financial Position - Total debt as of September 30, 2025, decreased to $15.9 million from $18.2 million a year earlier, achieving a Debt-to-Adjusted EBITDA ratio of 2.6[5][8]. - Cash and cash equivalents decreased to $546,591 from $5.49 million as of September 30, 2024[14]. - Accounts receivable increased to $6.4 million from $3.7 million year-over-year, indicating improved collection efforts[14]. Business Developments - The company secured a new contract from Raytheon to manufacture structural missile wing assemblies, contributing to a backlog of $509 million as of September 30, 2025[6].

Core Insights - CPI Aerostructures, Inc. reported stronger performance in Q3 2025 compared to Q3 2024, with a 60 basis points increase in gross profit margin and a 49% increase in net income [4] - The company achieved an adjusted EBITDA of $1.9 million, which is 17% higher than the same period last year [4] - The nine-month results were impacted by the termination of the Boeing A-10 Program, affecting overall revenue and profitability [4] Financial Performance - For Q3 2025, revenue was $19.3 million, slightly down from $19.4 million in Q3 2024 [9] - Gross profit for Q3 2025 was $4.3 million, compared to $4.2 million in Q3 2024, resulting in a gross margin of 22.3% versus 21.7% [9] - Net income for Q3 2025 was $1.1 million, up from $0.7 million in Q3 2024, with earnings per share increasing to $0.09 from $0.06 [9] - For the nine months ended September 30, 2025, revenue was $49.8 million, down from $59.3 million in the same period of 2024 [9] - The nine-month gross profit was $6.6 million, significantly lower than $12.9 million in 2024, leading to a gross margin of 13.3% [9] Balance Sheet and Debt Management - The company reduced its total debt to an all-time low of $15.9 million as of September 30, 2025, down from $18.2 million a year earlier [5][9] - The Debt-to-Adjusted EBITDA Ratio stood at 2.6, excluding the impact of the A-10 Program termination [5] Strategic Developments - CPI Aero received a significant award from Raytheon to manufacture structural missile wing assemblies, which will start deliveries in 2026, contributing to a backlog of $509 million as of September 30, 2025 [6] - This award reflects the company's ongoing success in securing new development programs and the confidence placed in it by leading aerospace and defense firms [6] Company Overview - CPI Aerostructures is a prime contractor to the U.S. Department of Defense and a Tier 1 subcontractor to major aerospace and defense contractors, providing a range of services including engineering and program management [7]

Revenue Performance - Revenue for the three months ended September 30, 2025, was $19,269,102, a decrease of 0.77% compared to $19,419,879 for the same period in 2024[8] - For the three months ended September 30, 2025, total revenue was $19,269,102, a decrease of 0.8% compared to $19,419,879 for the same period in 2024[20] - For the nine months ended September 30, 2025, total revenue was $49,848,818, down 15.9% from $59,311,356 in 2024[20] - For the nine months ended September 30, 2025, revenue was $49,848,818, down 16% from $59,311,356 in 2024[8] Profitability - Gross profit for the nine months ended September 30, 2025, was $6,619,171, down 48.6% from $12,888,842 in 2024[8] - Gross profit for the three months ended September 30, 2025, was $4,306,314, compared to $4,219,669 in 2024, reflecting a slight increase[8] - The net loss for the nine months ended September 30, 2025, was $(1,535,191), compared to a net income of $2,327,861 for the same period in 2024[10] - The Company’s income (loss) from operations for the three months ended September 30, 2025, was $1,754,959, compared to $1,477,633 in 2024[8] Cash Flow and Liquidity - Cash at the end of the period on September 30, 2025, was $546,591, a decrease from $1,708,987 at the end of September 30, 2024[10] - The company experienced a decrease in cash, with a net decrease of $4,944,372 for the nine months ended September 30, 2025, compared to a decrease of $3,385,807 in 2024[10] - Operating cash flow for the nine months ended September 30, 2025, was $(3,105,825), compared to $(837,077) for the same period in 2024[10] Shareholders' Equity - Total shareholders' equity as of September 30, 2025, was $24,989,069, compared to $24,939,360 as of September 30, 2024[9] - The balance of shareholders' equity as of September 30, 2025, was $24,989,069, a decrease from $25,933,242 at the beginning of the year[9] Stock-Based Compensation - Stock-based compensation expense for the nine months ended September 30, 2025, was $591,018, compared to $529,771 in 2024[10] - Stock-based compensation for the nine months ended September 30, 2025, was $591,018, an increase from $529,771 in the same period of 2024[10] - Stock-based compensation expense for the three months ended September 30, 2025, was $102,206, compared to $72,713 in the same period of 2024, reflecting an increase of approximately 40.4%[32] Debt and Credit Facilities - As of September 30, 2025, the Company had $15,890,000 outstanding under the Revolving Credit Loans, with a maturity date extended to November 30, 2026[52] - The Company was not in compliance with the Credit Agreement's financial covenants as of June 30, 2025, and obtained waivers from lenders[45] - The Company entered into a Sixteenth Amendment to its Credit Agreement on November 13, 2025, extending the maturity of the revolving credit facility to November 30, 2026[71] Customer Concentration - The Company’s four largest customers accounted for 37%, 19%, 13%, and 13% of revenue for the nine months ended September 30, 2025[54] - The Company’s three largest customers accounted for 46%, 13%, and 12% of revenue for the three months ended September 30, 2025[54] Taxation - The effective income tax rate for the nine months ended September 30, 2025, was 40.5%, primarily due to estimated R&D credits and state income taxes[61] - The Company recognized a provision for income tax of $(1,043,373) for the nine months ended September 30, 2025, compared to a provision of $535,634 in 2024[60] Contracts and Obligations - As of September 30, 2025, the aggregate amount of transaction price allocated to remaining performance obligations was approximately $100.1 million[25] - Contract assets as of September 30, 2025, were $33,695,994, compared to $32,832,290 as of December 31, 2024[27] - Contract liabilities as of September 30, 2025, were $1,992,910, down from $2,430,663 as of December 31, 2024[27] Inventory and Accounts Receivable - Total inventory as of September 30, 2025, was $593,605, a decrease from $918,288 as of December 31, 2024, representing a decline of about 35.4%[28] - The company reported a decrease in accounts receivable by $(2,596,402) for the nine months ended September 30, 2025[10] - The company had an increase in accounts receivable of $2,596,402 for the nine months ended September 30, 2025[10] Economic and Regulatory Environment - Economic and trade sanctions, including tariffs, may adversely affect the cost of raw materials and profitability, despite a predominantly US-based supply chain[67] - The federal government shutdown on October 1, 2025, could impact the defense industry, including the Company, due to potential slowdowns in funding and delays in contract payments[68] - The Company received a Termination Notice from Boeing regarding the A-10 program, requiring the scrapping and return of materials by August 15, 2025[69] - An adjustment was recognized in the quarter ended June 30, 2025, to address risks associated with the Boeing A-10 program termination, with further evaluations ongoing[70] Lease Obligations - The Company’s operating lease expense for the nine months ended September 30, 2025, was $1,784,937, compared to $1,611,487 for the same period in 2024[57] - The total undiscounted operating lease payments as of September 30, 2025, amounted to $13,127,968, with a present value of $10,125,234[58] - The Company’s weighted average remaining lease term for its operating leases is 5.5 years, with a weighted average discount rate of 9.5% as of September 30, 2025[58]

Core Points - CPI Aerostructures, Inc. confirmed that it is not aware of any material, undisclosed corporate developments that would explain the unusual trading activity in its common stock [1] - The company received an order from Raytheon to manufacture structural missile wing assemblies for an undisclosed platform, consistent with previous orders [2] - CPI Aero will continue to monitor trading activity and comply with disclosure obligations under applicable law and NYSE American listing standards [3] Company Overview - CPI Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters, and airborne Intelligence Surveillance and Reconnaissance pod systems, serving both commercial aerospace and national security markets [4] - Within the global aerostructure supply chain, CPI Aero operates as either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers [4] - The company is also a prime contractor to the U.S. Department of Defense, primarily the Air Force, and provides engineering, program management, supply chain management, and MRO services [4]

Core Insights - CPI Aerostructures, Inc. has received a firm fixed price order from Raytheon to manufacture structural missile wing assemblies, with deliveries set to begin in 2026 [1][2] - The order signifies a strategic win for CPI Aero, highlighting its role as a key supplier in the growing sectors of missiles, drones, and autonomous systems [2] - CPI Aero operates as a Tier 1 supplier to aircraft OEMs and a prime contractor to the U.S. Department of Defense, providing a range of services including engineering and program management [3] Company Overview - CPI Aero specializes in manufacturing structural assemblies for fixed wing aircraft, helicopters, and airborne Intelligence Surveillance and Reconnaissance pod systems [3] - The company is positioned within the global aerostructure supply chain, either as a Tier 1 supplier or a Tier 2 subcontractor [3] - CPI Aero's services extend beyond manufacturing to include supply chain management and maintenance, repair, and overhaul (MRO) services [3]