AIR T INC
For the period ended Jun 30, 2026. Filed Aug 14, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 14, 2026
AIRT$29.08+1.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets and
CONDENSED CONSOLIDATED BALANCE SHEETS
| (In thousands, except share amounts) | June 30, 2026 | March 31, 2026 |
|---|---|---|
| ASSETS | ||
| Current Assets: | ||
| Cash and cash equivalents | $16,667 | $20,332 |
| Marketable securities | 1,247 | 1,026 |
| Restricted cash | 4,987 | 4,938 |
| Accounts receivable, net of allowance for doubtful accounts of $1,706 and $1,614 | 33,304 | 39,889 |
| Income tax receivable | 676 | 196 |
| Inventories, net | 90,056 | 77,127 |
| Prepaid expenses | 6,710 | 8,851 |
| Other current assets | 4,475 | 7,617 |
| Total Current Assets | 158,122 | 159,976 |
| Notes receivable - Crestone Asset Management, LLC ("CAM") | — | 1,160 |
| Notes receivable - Bloomia Holdings, Inc. ("Bloomia") | — | 3,600 |
| Debt investments (Note 8) | 8,292 | 9,286 |
| Property and equipment, net of accumulated depreciation of $27,446 and $18,571 | 175,185 | 162,024 |
| Intangible assets, net of accumulated amortization of $8,667 and $8,046 | 57,083 | 13,029 |
| Right-of-use ("ROU") assets | 17,380 | 14,594 |
| Equity method investments | 27,858 | 26,068 |
| Deferred income tax assets, net | 266 | 102 |
| Goodwill | 19,592 | 11,818 |
| Other assets | 5,285 | 7,466 |
| Total Assets | 469,063 | 409,123 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current Liabilities: | ||
| Accounts payable | 41,017 | 36,971 |
| Income taxes payable | 977 | 687 |
| Accrued expenses and other (Note 4) | 55,766 | 49,717 |
| Current portion of long-term debt | 9,046 | 3,633 |
| Current portion of long-term debt - related party (Note 12) | — | 915 |
| Current portion of earnout liabilities | — | 198 |
| Short-term lease liabilities | 3,888 | 3,403 |
| Total Current Liabilities | 110,694 | 95,524 |
| Long-term debt | 237,290 | 204,563 |
| Deferred income tax liabilities, net | 9,329 | 3,359 |
| Long-term lease liabilities | 14,553 | 12,189 |
| Long-term earnout liabilities | 12,388 | 244 |
| Other non-current liabilities | 1,651 | 2,023 |
| Total Liabilities | 385,905 | 317,902 |
| Redeemable non-controlling interests | 16,291 | 10,346 |
| Commitments and contingencies (Note 14) | ||
| Equity: | ||
| Air T, Inc. Stockholders' Equity: | ||
| Preferred stock, $1.00 par value, 4,000,000 shares authorized | — | — |
| Common stock, $0.25 par value; 4,000,000 shares authorized, 3,030,245 shares issued, 2,691,664 and 2,701,375 shares outstanding | 758 | 758 |
| Treasury stock, 338,581 shares at $19.63 and 328,870 shares at $19.56 | (6,648) | (6,432) |
| Additional paid-in capital | 1,687 | 1,122 |
| Retained earnings | 64,304 | 80,113 |
| Accumulated other comprehensive income | 5,099 | 4,249 |
| Total Air T, Inc. Stockholders' Equity | 65,200 | 79,810 |
| Non-controlling Interests | 1,667 | 1,065 |
| Total Equity | 66,867 | 80,875 |
| Total Liabilities and Equity | $469,063 | $409,123 |
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