CPI Aero(US:CVU)2025-11-14 13:00Revenue 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].