Revenue: As of FY2026 Q1, the actual value is USD 17.36 M.EPS: As of FY2026 Q1, the actual value is USD 0.09.EBIT: As of FY2026 Q1, the actual value is USD 2.122 M.CPI Aerostructures, Inc. operates as a single operating and reportable segment, with all financial information presented on a consolidated basis .<h4>Revenue</h4>Total revenue for the three months ended March 31, 2026, increased by 12.7% to $17,359,940, up from $15,400,608 in the prior year period . This increase was primarily driven by favorable adjustments on the NGJ – Mid Band Pods and Advanced Tactical Pods program and NGJ – Low Band Pods program .- Government subcontracts revenue increased by 29.6% to $14,678,977 for the three months ended March 31, 2026, compared to $11,326,608 for the same period in 2025 .- Prime government contracts revenue decreased by 36.9% to $1,764,056 for the three months ended March 31, 2026, from $2,793,612 in the prior year .- Commercial contracts revenue decreased by 28.4% to $916,907 for the three months ended March 31, 2026, from $1,280,388 in 2025 .<h4>Operational Metrics</h4><ul><li>Cost of Sales decreased by 6.3% to $12,880,049 for the three months ended March 31, 2026, from $13,751,133 in 2025 .<ul><li>Procurement costs decreased by 9.5% to $7,509,709 from $8,294,588 .</li><li>Labor costs decreased by 19.9% to $1,316,157 from $1,642,586 .</li><li>Factory overhead decreased by 4.4% to $3,937,186 from $4,118,581 .</li><li>Other cost of sales increased to $116,997 from - $304,622 .</li></ul></li><li>Gross Profit increased by 171.6% to $4,479,891, resulting in a gross profit percentage of 25.8% for the three months ended March 31, 2026, compared to $1,649,475 and 10.7% in the prior year . Net adjustments to gross profit were - $732,189 for the three months ended March 31, 2026, compared to - $3,129,230 in the prior year period .</li><li>Selling, General and Administrative Expenses decreased by 6.5% to $2,650,263 for the three months ended March 31, 2026, from $2,835,777 in 2025 .</li><li>Income from operations was $1,829,628 for the three months ended March 31, 2026, a significant improvement from a loss of - $1,186,302 in the same period of 2025 .</li><li>Interest Expense decreased by 40.2% to - $291,935 for the three months ended March 31, 2026, from - $488,091 in 2025 .</li><li>Income before provision for income taxes was $1,568,066 for the three months ended March 31, 2026, compared to a loss of - $1,672,893 in the prior year .</li><li>Provision for income taxes was $331,348 for the three months ended March 31, 2026, compared to a benefit of - $348,969 in 2025 .</li><li>Net income for the three months ended March 31, 2026, was $1,236,718, compared to a net loss of - $1,323,924 for the same period last year .</li></ul><h4>Cash Flow</h4><ul><li>Net cash used in operating activities was - $424,703 for the three months ended March 31, 2026, an improvement from - $2,721,614 in the prior year period .</li><li>Net cash used in investing activities was - $53,055 for the three months ended March 31, 2026, compared to - $59,403 in the prior year period .</li><li>Net cash provided by financing activities was $581,107 for the three months ended March 31, 2026, compared to net cash used of - $841,366 in the prior year period .</li><li>Cash at end of period was $1,002,548 as of March 31, 2026, an increase from $899,199 at December 31, 2025 .</li></ul><h4>Unique Metrics</h4><ul><li>Total backlog decreased to $494,955,000 as of March 31, 2026, from $504,522,000 at December 31, 2025 .<ul><li>Funded backlog increased to $96,138,000 from $91,818,000 .</li><li>Unfunded backlog decreased to $398,817,000 from $412,704,000 .</li><li>Approximately 96% of the total backlog at March 31, 2026, was attributable to government and military contractor contracts .</li></ul></li><li>Working capital increased by 11.5% to $22,725,875 at March 31, 2026, compared to $20,388,755 at December 31, 2025 .</li><li>Contract assets, net, increased to $37,021,183 at March 31, 2026, from $33,670,354 at December 31, 2025 . Contract liabilities decreased to $1,371,571 at March 31, 2026, from $1,628,382 at December 31, 2025 .</li><li>Total inventory decreased to $725,908 at March 31, 2026, from $800,823 at December 31, 2025 .</li><li>As of March 31, 2026, the company had $19,173,672 outstanding under the Loan and Security Agreement with Western Alliance Bank . This included $9,173,672 under the Revolving Line and $10,000,000 under the Term Loan, both maturing on December 12, 2030 .</li><li>Total stock-based compensation expense was $235,287 for the three months ended March 31, 2026, compared to $320,229 in the prior year period .</li></ul><h4>Future Outlook and Strategy</h4>CPI Aerostructures, Inc. believes its existing liquidity resources as of March 31, 2026, will be sufficient to meet working capital needs for at least the next 12 months . To address potential additional liquidity requirements, the company may utilize cash balances, available borrowings under credit facilities, and other potential sources, including its existing shelf registration statement and at-the-market offering program . The company filed a shelf registration statement on Form S-3 for up to $30 million of securities and entered into an at-the-market offering program for up to $17 million of common stock, which became effective on April 14, 2026 .

CPI Aerostructures, Inc. | 10-Q: FY2026 Q1 Revenue: USD 17.36 M