Revenue Performance - Revenue for Q2 2024 was 20.5 million in Q2 2023[1] - For the first six months of 2024, revenue decreased to 42.6 million in the same period of 2023[2] Profitability Metrics - Gross profit for Q2 2024 was 4.6 million in Q2 2023, resulting in a gross margin of 24.6%, compared to 22.4%[1] - Gross profit for the first six months of 2024 was 9.3 million in the same period of 2023, with a gross margin of 21.7%[2] - Net income for Q2 2024 increased by 21.9% to 1.2 million in Q2 2023[1] - Earnings per diluted share for Q2 2024 was 0.09 in Q2 2023[1] EBITDA Analysis - Adjusted EBITDA for Q2 2024 was 2.1 million in Q2 2023[1] - Adjusted EBITDA for the six months ended June 30, 2024, was 4,343,207 for the same period in 2023, indicating a decrease of about 11.6%[13] - Adjusted EBITDA for the three months ended June 30, 2024, was 2,094,281 for the same period in 2023, representing a growth of approximately 25%[13] Operational Efficiency - Cash flow used in operations for the first six months of 2024 was 0.9 million generated in the same period of 2023[2] - Income from operations for the three months ended June 30, 2024, was 1,797,520 for the same period in 2023, representing a growth of approximately 30.2%[13] - Depreciation expense for the three months ended June 30, 2024, was 116,545 in the same period last year, reflecting a reduction of approximately 11.7%[13] - Stock-based compensation for the six months ended June 30, 2024, totaled 519,139 for the same period in 2023, showing a decrease of about 12%[13] Debt and Financial Position - The company reduced its debt by 512 million, indicating a strong competitive position[4]
CPI Aero(CVU) - 2024 Q2 - Quarterly Results