Filing Flows › CPI Aerostructures (CVU) › Q1 2026 › vs Q4 2025
CPI Aerostructures (CVU) Q1 2026 vs Q4 2025 (quarter over quarter)
CPI Aerostructures's revenue fell $2.1M (-11%) from $19.4M in Q4 2025 to $17.4M in Q1 2026. The biggest changes: Government subcontracts −$1.8M (-11%); Commercial contracts −$1.3M (-59%); Prime government contracts +$1.0M (+143%). Gross margin 25.8% against 20.3% (+5.5 pts).
CPI Aerostructures, Q1 2026: revenue $17.4M (+13% year over year), operating margin 10.5%, net earnings $1.2M, operating cash flow −$425K. The chart draws each line against Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Gross margin | 25.8% | 20.3% | +5.5 pts |
| Operating margin | 10.5% | 6.4% | +4.1 pts |
| Net margin | 7.1% | 3.6% | +3.6 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Government subcontracts | $14.7M | $16.4M | −$1.8M | -11% |
| Prime government contracts | $1.8M | $726K | $1.0M | +143% |
| Commercial contracts | $917K | $2.3M | −$1.3M | -59% |
| Revenue | $17.4M | $19.4M | −$2.1M | -11% |
| Gross profit | $4.5M | $3.9M | $543K | +14% |
| Cost of revenue | $12.9M | $15.5M | −$2.6M | -17% |
| Operating profit | $1.8M | $1.2M | $584K | +47% |
| Operating expenses | $2.7M | $2.7M | −$41K | -2% |
| Pre-tax earnings | $1.6M | $834K | $734K | +88% |
| Other expense, net | $262K | $411K | −$150K | -36% |
| Net earnings | $1.2M | $692K | $545K | +79% |
| Income tax | $331K | $143K | $189K | +133% |
| Operating cash sources | $1.9M | $3.2M | −$1.2M | -39% |
| Depreciation & amortization | $40K | $154K | −$114K | -74% |
| Share-based compensation | $235K | $216K | $20K | +9% |
| Cash used in operations | $425K | $2.1M | −$1.7M | -80% |
| Working capital & other | $1.9M | $3.2M | −$1.2M | -39% |
Questions
How much did CPI Aerostructures's revenue grow quarter over quarter in Q1 2026?
CPI Aerostructures's revenue fell $2.1M (-11%) from $19.4M in Q4 2025 to $17.4M in Q1 2026.
What drove CPI Aerostructures's revenue change in Q1 2026?
Government subcontracts −$1.8M (-11%); Commercial contracts −$1.3M (-59%); Prime government contracts +$1.0M (+143%).