Filing Flows › Air T (AIRT) › Q4 FY26
Air T (AIRT) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed Jun 29, 2026
Air T (AIRT) reported revenue of $121M for the fourth quarter fiscal 2026 (Q4 FY26), +82% from a year earlier and +70% from the quarter before. Operating margin was -11.4%, net earnings $82.3M (68.0% of revenue).
Air T, Q4 FY26: revenue $121M (+82% year over year), operating margin -11.4%, net earnings $82.3M, operating cash flow −$44K. The chart follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $121M | +70% | +82% |
| Operating profit | −$13.8M | — | — |
| Net earnings | $82.3M | — | — |
| Operating cash flow | −$44K | — | -101% |
What changed
Revenue was $120.9M in Q4 FY26, up 82% year over year and up 70% from the previous quarter.
Operating costs exceeded revenue by $13.8M, an operating margin of -11.4%. Total costs grew 96% against revenue growth of 82%. The fastest-growing cost line was General & admin (+104%). Net earnings were $77.7M. The effective tax rate was -1.0%. Non-operating items added $95.2M, 117% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$44K. Non-cash charges added back $8.6M of depreciation and amortization. Working capital and other items used $91.0M. Capital expenditures of $15.3M exceeded it, leaving free cash flow of −$15.3M.
Questions
What was Air T's revenue in the fourth quarter fiscal 2026?
Air T (AIRT) reported revenue of $121M for the fourth quarter fiscal 2026 (Q4 FY26), +82% from a year earlier and +70% from the quarter before.
Was Air T profitable in the fourth quarter fiscal 2026?
Operating loss was $13.8M (-11.4% of revenue) and net earnings $82.3M.
Source: Air T 10-K on SEC EDGAR.