May. 14 at 11:43 AM
$AIRO
🚨🚨🚨
Revenue was
$8.9 million, down from
$11.8 million a year earlier, mainly due to product mix, shipment timing and more full drone system deliveries.
Gross profit fell to
$2.4 million, with gross margin compressing to 26.6% from 58.8%.
Operating loss widened sharply to $(17.2) million from $(3.1) million, and net loss increased to $(15.5) million.
EBITDA swung from a
$2.7 million gain to $(14.3) million, and Adjusted EBITDA moved from roughly breakeven to $(12.8) million.
Despite these losses, AIRO ended March 31, 2026 with
$54.2 million in cash and about
$1.2 million of total debt.
Drone backlog exceeded
$150 million as of April 30, 2026, and management expects most of this to convert to revenue over the next 12 months.
The company reiterated its 2026 revenue growth guidance of 15% to 25% and introduced 2026 Adjusted EBITDA guidance in the negative mid- to high-teens dollar range as it invests in scaling its drone platform for U.S. and allied defense customers.
