Filing Flows › Air Industries (AIRI) › Q3 2025
Air Industries (AIRI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 14, 2025
Air Industries (AIRI) reported revenue of $10.3M for the third quarter 2025 (Q3 2025), -18% from a year earlier and -19% from the quarter before. Operating margin was 3.1%, net loss $44K (0.4% of revenue).
Air Industries, Q3 2025: revenue $10.3M (-18% year over year), operating margin 3.1%, net loss $44K, operating cash flow −$2.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.3M | -19% | -18% |
| Operating profit | $316K | 40× | — |
| Net earnings | −$44K | — | — |
| Operating cash flow | −$2.6M | -861% | — |
What changed
Revenue was $10.3M in Q3 2025, down 18% year over year and down 19% from the previous quarter. Military was the largest line at 52% of revenue. Military lost $2.6M year over year (down 33%), 115% of the total change.
Gross margin was 22.3%, up 6.8 points from a year earlier. Operating profit was $316K, a 3.1% margin (up 2.5 points year over year). Operating expenses grew 6% against a revenue fall of 18%. The quarter ended with a net loss of $44K, narrower than the previous quarter's $422K loss. Net interest and other expense of $360K was the main reason.
Operating cash flow was −$2.6M. Non-cash charges added back $627K of depreciation and $166K of share-based compensation. Working capital and other items used $3.4M. Capital expenditures of $905K exceeded it, leaving free cash flow of −$3.5M.
Questions
What was Air Industries' revenue in the third quarter 2025?
Air Industries (AIRI) reported revenue of $10.3M for the third quarter 2025 (Q3 2025), -18% from a year earlier and -19% from the quarter before.
Was Air Industries profitable in the third quarter 2025?
Operating profit was $316K (3.1% of revenue) and net loss $44K.
Source: Air Industries 10-Q on SEC EDGAR.