Air T, Inc.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-15.8M | $77.7M | $-2.5M | $4.4M | $-1.6M | $-7.0M | $-1.3M | $2.5M |
| Depreciation & Amortization | $9.9M | $8.6M | $1.6M | $827.0K | $1.3M | $1.3M | $1.3M | $949.0K |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $900.0K | — | — | — | $1.2M | — | — | — |
| Stock-Based Compensation | — | — | — | — | — | — | — | — |
| Net Cash from Operating Activities | $-2.8M | $-44.0K | $-18.5M | $-5.4M | $-1.1M | $4.1M | $16.3M | $2.9M |
| Investing Activities | ||||||||
| Capital Expenditures | $21.3M | $15.3M | $783.0K | $213.0K | $231.0K | $149.0K | $351.0K | $242.0K |
| Business Acquisitions | $19.2M | $336.0K | $5.2M | $-18.0K | $1.2M | $0 | $0 | $0 |
| Net Cash from Investing Activities | $-44.0M | $-28.8M | $-6.9M | $16.7M | $-2.7M | $-3.4M | $-2.6M | $-16.2M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $42.3M | $11.7M | $50.0M | $-8.8M | $12.6M | $-12.8M | $-4.5M | $13.8M |
| Net Change in Cash | $-3.6M | $-16.9M | $24.4M | $2.6M | $8.5M | $-12.0M | $9.6M | $479.0K |
| Free Cash Flow | $-24.2M | $-15.3M | $-19.3M | $-5.6M | $-1.3M | $4.0M | $16.0M | $2.7M |