- Increases Funded Orders under Previously Awarded Multi-year Contract to $61.1 million –EDGEWOOD, N.Y., Oct. 06, 2025 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®” or the “Company”) (NYSE American: CVU) announced that it has received multiple purchase orders totaling $10.2 million under a previously announced Indefinite Delivery/Indefinite Quantity (IDIQ) contract from the U.S. Air Force valued at up to $65.7 million to provide structural modification kits, program management, logistics, and ot ...

Core Viewpoint - CPI Aerostructures, Inc. reported financial results for Q2 and the first half of 2025, highlighting a significant impact from the termination of the A-10 Program, which led to write-offs and losses, but also noted progress in transitioning to new programs and maintaining a strong backlog of orders [3][4][5]. Financial Performance - For Q2 2025, revenue was $15.2 million, down from $20.8 million in Q2 2024, with a gross profit of $0.7 million compared to $5.1 million, resulting in a gross margin of 4.4% (17.1% excluding A-10 impact) [8][17]. - The net loss for Q2 2025 was $(1.3) million, compared to a net income of $1.4 million in Q2 2024, leading to a loss per share of $(0.10) versus earnings per share of $0.11 [8][17]. - For the first half of 2025, revenue was $30.6 million, down from $39.9 million in the same period of 2024, with a net loss of $(2.6) million compared to a net income of $1.6 million in 2024 [8][17]. Debt and Financial Health - The company reduced its total debt to an all-time low of $16.2 million as of June 30, 2025, down from $18.9 million a year earlier, with a Debt-to-Adjusted EBITDA Ratio of 2.7 excluding the A-10 Program impact [4][8]. - Management identified a material weakness in internal control over financial reporting related to debt classification but believes it does not affect the financial results for Q2 [5]. Operational Developments - CPI Aero achieved key development milestones, including the first delivery of the Advanced Tactical Flight Pod to Raytheon, and ended the quarter with a strong backlog of $506 million, including new program awards from major clients [4][5]. - The company is focused on optimizing its portfolio and transitioning from legacy programs to future-oriented programs [5].

[Executive Summary](index=1&type=section&id=Executive%20Summary) This section provides a high-level overview of CPI Aerostructures' Q2 and six-month 2025 financial performance, strategic outlook, and key operational highlights [Second Quarter and Six Months 2025 Financial Highlights](index=1&type=section&id=Second%20Quarter%20and%20Six%20Months%202025%20Financial%20Highlights) CPI Aerostructures reported significant Q2 and H1 2025 revenue and gross profit declines, primarily due to the A-10 Program termination impact Q2 2025 vs Q2 2024 Financial Performance | Metric | Q2 2025 | Q2 2024 | Change | | :-------------------------- | :---------- | :---------- | :----- | | Revenue | $15.2 million | $20.8 million | -26.9% | | Gross Profit | $0.7 million | $5.1 million | -86.3% | | Gross Margin | 4.4% | 24.6% | -20.2 pp | | Net (Loss) Income | $(1.3) million | $1.4 million | N/A | | (Loss) Earnings per share | $(0.10) | $0.11 | N/A | | Adjusted EBITDA | $(1.7) million | $2.6 million | N/A | | Adjusted EBITDA (excl. A-10) | $0.6 million | $2.6 million | N/A | Six Months 2025 vs Six Months 2024 Financial Performance | Metric | 6M 2025 | 6M 2024 | Change | | :-------------------------- | :---------- | :---------- | :----- | | Revenue | $30.6 million | $39.9 million | -23.3% | | Gross Profit | $2.3 million | $8.7 million | -73.5% | | Gross Margin | 7.6% | 21.7% | -14.1 pp | | Net (Loss) Income | $(2.6) million | $1.6 million | N/A | | (Loss) Earnings per share | $(0.21) | $0.13 | N/A | | Adjusted EBITDA | $(2.5) million | $3.8 million | N/A | | Adjusted EBITDA (excl. A-10) | $2.0 million | $3.8 million | N/A | - The A-10 Program termination resulted in a **$2.3 million** write-off in Q2 2025 and a **$4.5 million** impact for the six months ended June 30, 2025[4](index=4&type=chunk)[6](index=6&type=chunk) - Excluding this impact, Q2 2025 gross margin was **17.1%** and six-month gross margin was **19.3%**[4](index=4&type=chunk)[6](index=6&type=chunk) [CEO Commentary and Strategic Outlook](index=1&type=section&id=CEO%20Commentary%20and%20Strategic%20Outlook) CEO commentary highlighted A-10 impact, new program milestones, reduced debt, a strong backlog, and remediation of a material weakness in financial reporting - The company continued its transition to new programs, achieving key development milestones like the first Advanced Tactical Flight Pod delivery to Raytheon[5](index=5&type=chunk) - Total debt was reduced to an all-time low of **$16.2 million** as of June 30, 2025, and the Debt-to-Adjusted EBITDA Ratio (excluding A-10 impact) improved to **2.7**[5](index=5&type=chunk)[6](index=6&type=chunk) - CPI Aero ended the quarter with a strong backlog of **$506 million**, including multiple new program awards from Raytheon, Sikorsky, Lockheed, the US Air Force, and Embraer[7](index=7&type=chunk) - Management identified a material weakness in internal control over financial reporting related to the classification of debt, which is currently being remediated[7](index=7&type=chunk) [Company Information](index=2&type=section&id=Company%20Information) This section details CPI Aerostructures' business, forward-looking statement disclaimers, and investor relations contact information [About CPI Aerostructures](index=2&type=section&id=About%20CPI%20Aero) CPI Aero manufactures structural assemblies for fixed-wing aircraft, helicopters, and ISR pod systems, serving commercial and national security markets - CPI Aero is a U.S. manufacturer of structural assemblies for fixed-wing aircraft, helicopters, and airborne Intelligence Surveillance and Reconnaissance (ISR) pod systems[8](index=8&type=chunk) - The company serves both the commercial aerospace and national security markets[8](index=8&type=chunk) - CPI Aero acts as a Tier 1 supplier to aircraft OEMs, a Tier 2 subcontractor to major Tier 1 manufacturers, and a prime contractor to the U.S. Department of Defense (primarily the Air Force)[8](index=8&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward-Looking%20Statements) This disclaimer indicates forward-looking statements involve risks and uncertainties, with no guarantee of future performance or obligation to update - The press release contains forward-looking statements, which are not guarantees of future performance and involve risks and uncertainties[9](index=9&type=chunk)[10](index=10&type=chunk) - Actual results could vary materially from forward-looking statements due to important factors, including those outlined in the Company's Annual Report on Form 10-K[10](index=10&type=chunk) - The Company disclaims any intention or obligation to update or revise any forward-looking statement[10](index=10&type=chunk) [Investor Relations](index=2&type=section&id=Investor%20Relations) This section provides investor relations contact details for Alliance Advisors IR and CPI Aerostructures' Interim Chief Financial Officer - Investor Relations Counsel: Alliance Advisors IR, (212) 838-3777, cpiaero@allianceadvisors.com[12](index=12&type=chunk) - Company Contact: Pamela Levesque, Interim Chief Financial Officer, (631) 586-5200, plevesque@cpiaero.com[12](index=12&type=chunk) - Company website: www.cpiaero.com[11](index=11&type=chunk) [Consolidated Financial Statements](index=3&type=section&id=Consolidated%20Financial%20Statements) This section presents CPI Aerostructures' balance sheets and statements of operations for the periods ended June 30, 2025 [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) The balance sheet shows total assets increased to **$72.3 million** and total liabilities to **$48.5 million** by June 30, 2025, with shareholders' equity decreasing Consolidated Balance Sheet Highlights | Metric | June 30, 2025 | December 31, 2024 | Change | | :-------------------------------- | :-------------- | :---------------- | :----- | | **ASSETS** | | | | | Total Current Assets | $39,321,774 | $43,592,453 | -9.9% | | Operating lease right-of-use assets | $10,220,405 | $2,856,200 | +257.8% | | Deferred tax asset, net | $20,153,104 | $18,837,576 | +6.9% | | Total Assets | $72,255,967 | $67,982,002 | +6.3% | | **LIABILITIES** | | | | | Total Current Liabilities | $26,255,391 | $26,470,342 | -0.8% | | Line of credit, net of current portion | $13,140,000 | $14,640,000 | -10.3% | | Long-term operating lease liabilities | $9,087,405 | $938,418 | +868.4% | | Total Liabilities | $48,482,796 | $42,048,760 | +15.3% | | **SHAREHOLDERS' EQUITY** | | | | | Total Shareholders' Equity | $23,773,171 | $25,933,242 | -8.3% | [Consolidated Statements of Operations](index=4&type=section&id=Consolidated%20Statements%20of%20Operations) Q2 2025 reported a net loss of **$(1.3) million** and **26.9%** revenue decline, while H1 2025 saw a net loss of **$(2.6) million** and **23.3%** revenue decrease Consolidated Statements of Operations (Three Months Ended June 30) | Metric | 2025 | 2024 | Change | | :-------------------------------- | :----------- | :----------- | :----- | | Revenue | $15,179,108 | $20,810,334 | -26.9% | | Cost of sales | $14,515,726 | $15,694,910 | -7.5% | | Gross profit | $663,382 | $5,115,424 | -86.3% | | (Loss) income from operations | $(1,990,642) | $2,339,489 | N/A | | Net (Loss) income | $(1,324,959) | $1,409,946 | N/A | | Income per common share, basic | $(0.10) | $0.11 | N/A | Consolidated Statements of Operations (Six Months Ended June 30) | Metric | 2025 | 2024 | Change | | :-------------------------------- | :----------- | :----------- | :----- | | Revenue | $30,579,716 | $39,891,477 | -23.3% | | Cost of sales | $28,266,859 | $31,222,304 | -9.5% | | Gross profit | $2,312,857 | $8,669,173 | -73.5% | | (Loss) income from operations | $(3,176,944) | $3,179,334 | N/A | | Net (Loss) income | $(2,648,883) | $1,578,184 | N/A | | Income per common share, basic | $(0.21) | $0.13 | N/A | [Non-GAAP Financial Measures](index=5&type=section&id=Non-GAAP%20Financial%20Measures) This section provides a reconciliation of non-GAAP Adjusted EBITDA, highlighting its calculation and purpose for financial analysis [Adjusted EBITDA Reconciliation](index=5&type=section&id=Adjusted%20EBITDA%20Reconciliation) This section reconciles Adjusted EBITDA, a non-GAAP measure, showing Q2 2025 at **$(1.7) million** (or **$0.6 million** excluding A-10) and H1 2025 at **$(2.5) million** (or **$2.0 million** excluding A-10) - Adjusted EBITDA is a non-GAAP measure defined as GAAP income from operations plus depreciation, amortization, and stock-compensation expense[17](index=17&type=chunk) - The company provides Adjusted EBITDA to help investors evaluate financial performance on a consistent basis and enhance understanding of operating results, but it should not be construed as an alternative to GAAP measures[18](index=18&type=chunk)[21](index=21&type=chunk) Reconciliation of Income From Operations to Adjusted EBITDA | Metric | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :------------------------------------ | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Income From Operations | $(1,990,642) | $2,339,489 | $(3,176,944) | $3,179,334 | | Depreciation | $88,598 | $102,846 | $187,365 | $202,413 | | Stock Based Compensation | $168,583 | $175,535 | $488,812 | $457,058 | | **Adjusted EBITDA** | **$(1,733,461)** | **$2,617,870** | **$(2,500,767)** | **$3,838,805** | | A-10 Termination Adjustment | $2,322,831 | - | $4,468,528 | - | | **Adjusted EBITDA Excluding A-10 adjustment** | **$589,370** | **$2,617,870** | **$1,967,761** | **$3,838,805** |

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________ Commission File Number: 1-11398 CPI AEROSTRUCTURES, INC. (Exact name of registrant as specified in its charter) of incorporation or organization) ...

EDGEWOOD, N.Y., Aug. 04, 2025 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. ("CPI Aero®" or the "Company") (NYSE American: CVU) announced that it has received multiple purchase orders totaling $2.5 million under a previously announced contract from the U.S. Air Force valued at up to $65.7 million to provide structural modification kits, program management, logistics, and other sustainment services in support of Phase 3 of the T-38C Pacer Classic III Fuselage Structural Modification Kit Integration program (" ...

EDGEWOOD, N.Y., July 30, 2025 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. ("CPI Aero®" or the "Company") (NYSE American: CVU) today announced that it has received follow-on orders from multiple existing customers totaling $2.4 million to weld complex structural assemblies used on a U.S. military helicopter. Deliveries are expected to occur through mid-2026. "CPI Aero's world-class fusion welding capability is highly regarded throughout the industry. NADCAP certified to numerous OEM welding specifications, ...

EDGEWOOD, N.Y., July 01, 2025 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®” or the “Company”) (NYSE American: CVU) today announced that it has appointed Paula Castellano to the position of Senior Vice President, Operations. Ms. Castellano, 59, has extensive experience in Operations leadership and management, Lean and Six Sigma, production control, engineering, planning and customer service. Most recently, she served as Site Director at GKN Aerospace responsible for operational performance, conti ...

Core Points - CPI Aerostructures, Inc. has signed a Long-Term Agreement with MST Manufacturing for component supply until the end of 2028 [1] - The agreement reflects the strong relationship and performance of MST as a critical supplier [2] - CPI Aero is a manufacturer of structural assemblies for various aircraft and is a prime contractor to the U.S. Department of Defense [3] Company Overview - CPI Aero specializes in structural assemblies for fixed wing aircraft, helicopters, and airborne systems in both commercial and national security markets [3] - The company operates as a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers [3] - CPI Aero provides engineering, program management, supply chain management, and MRO services alongside its assembly operations [3] MST Manufacturing Overview - MST Manufacturing is located in Claremore, Oklahoma, with over 75,000 square feet of manufacturing space and more than 110 employees [4] - The company holds AS9100, ISO9001, and ITAR certifications, positioning itself as a leading CNC machining and fabrication company in Oklahoma [4] - MST operates over 60 CNC machines and offers complex machining services, including 5-axis milling and multi-axis turning [4]

CPI Aerostructures, Inc. 8-K Exhibit 99.1 CPI AEROSTRUCTURES REPORTS FIRST QUARTER 2025 RESULTS First Quarter 2025 vs. First Quarter 2024 EDGEWOOD, N.Y. – May 15, 2025 – CPI Aerostructures, Inc. ("CPI Aero" or the "Company") (NYSE American: CVU) today announced financial results for the three month period ended March 31, 2025. "Our first quarter 2025 results were significantly impacted by the recognition of a pre-tax loss of $2.1 million on our A-10 Program, a challenging Program with higher manufacturing c ...

Core Viewpoint - CPI Aerostructures, Inc. reported a significant financial impact in Q1 2025 due to a pre-tax loss of $2.1 million on the A-10 Program, which has higher manufacturing costs under a fixed-price contract from 2019. The company is taking steps to mitigate further financial degradation from this program [3]. Financial Performance - Revenue for Q1 2025 was $15.4 million, down from $19.1 million in Q1 2024 [9]. - Gross profit decreased to $1.6 million, compared to $3.6 million in the same period last year, resulting in a gross margin of 10.7%, down from 18.6% [9]. - The company reported a net loss of $1.3 million in Q1 2025, compared to a net income of $0.2 million in Q1 2024 [9]. - Adjusted EBITDA was $(0.8) million, a decline from $1.2 million in Q1 2024 [9]. Balance Sheet and Debt Management - The total debt was reduced to an all-time low of $16.7 million, with a Debt-to-Adjusted EBITDA Ratio of 2.9, marking the ninth consecutive quarter below 3.0 [4]. - Total assets as of March 31, 2025, were $65.36 million, down from $67.98 million at the end of 2024 [12][13]. Operational Outlook - The company ended the quarter with a strong backlog of $516 million, including new program awards from major clients such as L3Harris, Raytheon, Lockheed, and Embraer [5]. - CPI Aero is focused on operational improvements and transitioning from legacy programs to future-oriented programs [5].