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Air Industries (AIRI) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 12, 2026 · Air Industries (AIRI) Q2 2026 earnings results →
Q2 2026 Revenue down 5% year over year to $12.0M · 7¢ of every $1 of revenue lost · operating margin -3.1%
Air Industries made $12.0M in Q2 2026 (-5% Y/Y): Military $8.2M, Commercial $3.8M. Operating margin -3.1%, net loss $846K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.
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What changed this quarter
Revenue was $12.0M in Q2 2026, down 5% year over year and up 3% from the previous quarter. Military was the largest line at 68% of revenue. Commercial lost $2.0M year over year (down 34%), 301% of the total change.
Gross margin was 20.7%, up 4.7 points from Q2 2025. Operating costs exceeded revenue by $366K, an operating margin of -3.1%. Operating expenses grew 41% against a revenue fall of 5%. The quarter ended with a net loss of $846K, narrower than the previous quarter's $1.0M loss. Net interest and other expense of $462K was the main reason.
Operating cash flow was $1.5M (up 341% year over year). Non-cash charges added back $715K of depreciation and $59K of share-based compensation. Working capital and other items added $1.6M. Capital expenditures of $60K left free cash flow of $1.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 12, 2026 | $12.0M | -5% | -3.1% | −$846K | $1.5M |
| Q1 2026 | 10-Q | May 13, 2026 | $11.6M | -4% | -4.9% | −$1.0M | −$1.3M |
| Q4 2025 | 10-K | Mar 27, 2026 | $12.8M | -14% | 0.7% | $149K | −$598K |
| Q3 2025 | 10-Q | Nov 14, 2025 | $10.3M | -18% | 3.1% | −$44K | −$2.6M |
| Q2 2025 | 10-Q | Aug 14, 2025 | $12.7M | -7% | 0.1% | −$422K | $345K |
| Q1 2025 | 10-Q | May 15, 2025 | $12.1M | -14% | -6.1% | −$988K | $1.5M |
| Q4 2024 | 10-K | Apr 15, 2025 | $14.9M | +11% | -0.7% | −$554K | −$184K |
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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📈Investments: gains and what it boughtinteractive
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Customers and suppliers named in filings
Sells to
- RTX — 36% of its revenue · Stated in 10-K (customer table) · source
- LMT — 32% of its revenue · Stated in 10-K (customer table) · source
- NOC — 7% of its revenue · Stated in 10-K (customer table) · source
About Air Industries
We believe we are one of the leading manufacturers of precision components and assemblies for large aerospace and defense prime contractors. Our products include landing gears, flight controls, engine mounts and components for aircraft jet engines, ground turbines and other complex machines. The ultimate end-user for most of our products is the U.S. Government, international governments, and commercial global airlines. Whether it is a small individual component for assembly by others or complete assemblies we manufacture ourselves, our high quality and extremely reliable products are used in mission critical operations that are essential for safety of military personnel and civilians.
In its own words, from its 10-K, filed Mar 27, 2026.
Air Industries against its Aircraft Parts & Auxiliary Equipment, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -5% against the peers' median +27%. Operating margin: -3.1% against the peers' median 15.7%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| AIRI Air Industries | Q2 2026 | $12.0M | -5% | -3.1% |
| TDG TransDigm Group | Q3 FY26 | $2.7B | +22% | 44.8% |
| ARXS Arxis | Q3 2026 | $564M | +36% | 23.7% |
| ATRO Astronics | Q2 2026 | $260M | +27% | 15.6% |
| DCO Ducommun | Q3 2026 | $227M | +6% | 11.4% |
| KRMN Karman Holdings | Q3 2026 | $202M | +66% | 15.7% |
| LOAR Loar Holdings | Q3 2026 | $176M | +39% | 26.2% |
| AADX Applied Aerospace & Defense | Q2 2026 | $167M | +47% | -57.5% |
| PKE Park Aerospace | Q2 FY27 | $20.8M | +27% | 22.8% |
Source: Air Industries 10-Q on SEC EDGAR · CIK 1009891 · Aircraft Parts & Auxiliary Equipment, NEC
13F: who owns AIRI and who is buying
More on AIRI
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results