Advanced Tactical Flight Pod

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CPI Aerostructures Reports Second Quarter and Six Month 2025 Results
Globenewswireยท 2025-08-19 21:30
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].