AIR T INC
For the period ended Mar 31, 2025. Filed Jun 27, 2025.
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FY2025 · Filed Jun 27, 2025
AIRT$29.08+1.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets as of and
| (In thousands, except per share data) | March 31, 2025 | March 31, 2024 |
|---|---|---|
| ASSETS | ||
| Current Assets: | ||
| Cash and cash equivalents | $5,932 | $7,100 |
| Marketable securities | 422 | 531 |
| Restricted cash | 575 | 743 |
| Restricted investments | 683 | 1,392 |
| Accounts receivable, net of allowance for doubtful accounts of $1,338 and $1,420 | 23,917 | 22,911 |
| Income tax receivable | 681 | 561 |
| Inventories, net | 38,516 | 60,720 |
| Prepaid expenses | 3,103 | 2,351 |
| Due from Crestone Asset Management, LLC for expense reimbursements | 180 | 3,093 |
| Other current assets | 4,498 | 3,475 |
| Total Current Assets | 78,507 | 102,877 |
| Notes Receivable - Lendway | 3,350 | — |
| Notes Receivable - CAM | 2,500 | — |
| Assets on lease or held for lease, net of accumulated depreciation of $1,451 and $8 | 14,662 | 252 |
| Property and equipment, net of accumulated depreciation of $9,240 and $7,705 | 20,285 | 20,861 |
| Intangible assets, net of accumulated amortization of $6,330 and $5,119 | 10,020 | 10,978 |
| Right-of-use ("ROU") assets | 13,274 | 11,376 |
| Equity method investments | 19,003 | 16,653 |
| Other assets (includes $0 and $1,909 measured at fair value) | 1,635 | 3,630 |
| Goodwill | 10,542 | 10,540 |
| Total Assets | 173,778 | 177,167 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current Liabilities: | ||
| Accounts payable | $17,782 | $15,072 |
| Accrued expenses and other (Note 10) | 16,691 | 15,650 |
| Current portion of long-term debt | 9,099 | 14,358 |
| Current portion of long-term debt - related party (Note 12) | 1,282 | — |
| Current portion of earnout liability | 430 | — |
| Short-term lease liability | 2,377 | 1,761 |
| Total Current Liabilities | 47,661 | 46,841 |
| Long-term debt | 101,226 | 98,568 |
| Long-term debt - related party (Note 12) | 3,288 | — |
| Deferred income tax liabilities, net | 2,249 | 2,447 |
| Long-term lease liability | 11,843 | 10,515 |
| Long-term earnout liability | 1,109 | — |
| Other non-current liabilities (includes $44 and $0 measured at fair value) | 866 | — |
| Total Liabilities | 168,242 | 158,371 |
| Redeemable non-controlling interest | 7,054 | 12,976 |
| Commitments and contingencies (Note 21) | ||
| Equity: | ||
| Air T, Inc. Stockholders' (Deficit) Equity: | ||
| Preferred stock, $1.00 par value, 2,000,000 shares authorized | — | — |
| Common stock, $0.25 par value; 4,000,000 shares authorized, 3,030,245 and 3,030,245 shares issued, 2,702,639 and 2,775,163 shares outstanding | 758 | 758 |
| Treasury stock, 327,606 shares at $19.55 and 256,850 shares at $19.31 | (6,404) | (4,959) |
| Additional paid-in capital | 947 | 859 |
| Retained earnings | 2,130 | 8,192 |
| Accumulated other comprehensive loss | (647) | (80) |
| Total Air T, Inc. Stockholders' (Deficit) Equity | (3,216) | 4,770 |
| Non-controlling Interests | 1,698 | 1,050 |
| Total (Deficit) Equity | (1,518) | 5,820 |
| Total Liabilities and (Deficit) Equity | $173,778 | $177,167 |
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