Air Industries (US:AIRI)2025-11-17 14:02Financial Data and Key Metrics Changes - Net sales for Q3 2025 were $10.3 million, showing improvement compared to both the first two quarters of 2025 and Q3 2024 [5] - Gross profit was $2.3 million, representing 22.3% of sales, indicating strong improvement due to cost reduction initiatives [5] - Operating income was $316,000, and net loss for the quarter was $44,000, or $0.01 per share, compared to a loss of $404,000 in Q3 2024 [5] - Adjusted EBITDA for the nine months ended September 30th was $2.7 million, up nearly 5% from the prior year [5] - Total debt increased by approximately $2.4 million [6] Business Line Data and Key Metrics Changes - Inventory increased by $5.6 million, reflecting investment in work in process inventory and materials for future deliveries [6] - Accounts receivable decreased by $2.1 million, while accounts payable increased by approximately $2 million [6] Market Data and Key Metrics Changes - The company continues to benefit from strong backlog levels and healthy demand from both existing and new customers [7] Company Strategy and Development Direction - The company is focused on execution, cost control, and driving shareholder value [7] - Ongoing discussions with lenders regarding potential refinancing or extension of obligations are in progress [3][5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the core business and anticipates a strong finish to fiscal 2025 with continued momentum into 2026 [7][8] Other Important Information - The consolidated balance sheet reflects all credit facility and subordinated debt as current, with the credit facility maturing at the end of December 2025 and related party subordinate notes maturing on July 1, 2026 [3][4] Q&A Session Summary - No questions were posed during the Q&A session, and the call concluded with management thanking participants for their interest [9][10]