Revenue: As of FY2025 Q3, the actual value is USD 19.27 M.EPS: As of FY2025 Q3, the actual value is USD 0.09.EBIT: As of FY2025 Q3, the actual value is USD 2.143 M.<h3>Financial Metrics by Segment</h3><h4>Revenue</h4><ul><li>Total Revenue: $19,269,102 for the three months ended September 30, 2025, compared to $19,419,879 for the same period in 2024, a decrease of $150,777 or 0.8%.</li><li>Total Revenue: $49,848,818 for the nine months ended September 30, 2025, compared to $59,311,356 for the same period in 2024, a decrease of $9,462,538 or 16%.</li><li>Government Subcontracts: $15,522,738 for the three months ended September 30, 2025, compared to $16,986,106 for the same period in 2024, a decrease of $1,463,368 or 8.6%.</li><li>Government Subcontracts: $39,115,821 for the nine months ended September 30, 2025, compared to $48,951,748 for the same period in 2024, a decrease of $9,835,927 or 20.1%.</li><li>Prime Government Contracts: $2,560,673 for the three months ended September 30, 2025, compared to $1,673,483 for the same period in 2024, an increase of $887,190 or 53.0%.</li><li>Prime Government Contracts: $6,689,643 for the nine months ended September 30, 2025, compared to $7,056,711 for the same period in 2024, a decrease of $367,068 or 5.2%.</li><li>Commercial Contracts: $1,185,691 for the three months ended September 30, 2025, compared to $760,290 for the same period in 2024, an increase of $425,401 or 56.0%.</li><li>Commercial Contracts: $4,043,354 for the nine months ended September 30, 2025, compared to $3,302,897 for the same period in 2024, an increase of $740,457 or 22.4%.</li></ul><h4>Cost of Sales</h4><ul><li>Total Cost of Sales: $14,962,788 for the three months ended September 30, 2025, compared to $15,200,210 for the same period in 2024, a decrease of $237,422 or 1.6%.</li><li>Total Cost of Sales: $43,229,647 for the nine months ended September 30, 2025, compared to $46,422,514 for the same period in 2024, a decrease of $3,192,867 or 6.9%.</li><li>Procurement: $9,605,276 for the three months ended September 30, 2025, compared to $9,219,097 for the same period in 2024, an increase of $386,179 or 4.2%.</li><li>Procurement: $26,760,166 for the nine months ended September 30, 2025, compared to $28,702,158 for the same period in 2024, a decrease of $1,941,992 or 6.8%.</li><li>Labor Costs: $1,470,358 for the three months ended September 30, 2025, compared to $1,861,505 for the same period in 2024, a decrease of $391,147 or 21.0%.</li><li>Labor Costs: $4,617,419 for the nine months ended September 30, 2025, compared to $5,460,235 for the same period in 2024, a decrease of $842,816 or 15.4%.</li><li>Factory Overhead: $4,101,453 for the three months ended September 30, 2025, compared to $4,021,411 for the same period in 2024, an increase of $80,042 or 2.0%.</li><li>Factory Overhead: $12,172,384 for the nine months ended September 30, 2025, compared to $12,058,902 for the same period in 2024, an increase of $113,482 or 0.9%.</li><li>Other Cost of Sales: -$214,299 for the three months ended September 30, 2025, compared to $98,197 for the same period in 2024, a decrease of $312,496 or 318.2%.</li><li>Other Cost of Sales: -$320,322 for the nine months ended September 30, 2025, compared to $201,219 for the same period in 2024, a decrease of $521,541 or 259.2%.</li></ul><h4>Gross Profit</h4><ul><li>Gross Profit: $4,306,314 for the three months ended September 30, 2025, compared to $4,219,669 for the same period in 2024, an increase of $86,645 or 2.1%.</li><li>Gross Margin: 22.3% for the three months ended September 30, 2025, compared to 21.7% for the same period in 2024, an increase of 60 basis points.</li><li>Gross Profit: $6,619,171 for the nine months ended September 30, 2025, compared to $12,888,842 for the same period in 2024, a decrease of $6,269,671 or 48.6%.</li><li>Gross Margin: 13.3% for the nine months ended September 30, 2025, compared to 21.7% for the same period in 2024, a decrease of 840 basis points.</li></ul><h4>Selling, General and Administrative Expenses</h4><ul><li>SG&amp;A Expenses: $2,551,355 for the three months ended September 30, 2025, compared to $2,742,036 for the same period in 2024, a decrease of $190,681 or 7.0%.</li><li>SG&amp;A Expenses: $8,041,156 for the nine months ended September 30, 2025, compared to $8,231,875 for the same period in 2024, a decrease of $190,719 or 2.3%.</li></ul><h4>Interest Expense</h4><ul><li>Interest Expense: $387,922 for the three months ended September 30, 2025, compared to $573,366 for the same period in 2024, a decrease of $185,444 or 32.3%.</li><li>Interest Expense: $1,163,559 for the nine months ended September 30, 2025, compared to $1,793,472 for the same period in 2024, a decrease of $629,913 or 35.1%.</li></ul><h4>Income (Loss) Before Provision for Income Taxes</h4><ul><li>Income Before Provision for Income Taxes: $1,367,037 for the three months ended September 30, 2025, compared to $904,267 for the same period in 2024.</li><li>(Loss) Income Before Provision for Income Taxes: -$2,578,564 for the nine months ended September 30, 2025, compared to $2,863,495 for the same period in 2024.</li></ul><h4>(Benefit)/Provision for Income Taxes</h4><ul><li>Provision for Income Taxes: $253,345 for the three months ended September 30, 2025, compared to $154,590 for the same period in 2024, an increase of $98,755 or 63.9%.</li><li>(Benefit)/Provision for Income Taxes: -$1,043,373 for the nine months ended September 30, 2025, compared to $535,634 for the same period in 2024, a benefit increase of $1,579,007 or 294.8%.</li></ul><h4>Net Income/(Loss) and Earnings per Share</h4><ul><li>Net Income: $1,113,692 or $0.09 per basic share for the three months ended September 30, 2025, compared to $749,677 or $0.06 per basic share for the same period in 2024.</li><li>Net (Loss) Income: -$1,535,191 or -$0.12 per basic share for the nine months ended September 30, 2025, compared to $2,327,861 or $0.19 per basic share for the same period in 2024.</li></ul><h4>Cash Flow</h4><ul><li>Net Cash Used in Operating Activities: -$3,105,825 for the nine months ended September 30, 2025, compared to -$837,077 for the same period in 2024.</li><li>Net Cash Used in Investing Activities: -$63,900 for the nine months ended September 30, 2025, compared to -$330,282 for the same period in 2024.</li><li>Net Cash Used in Financing Activities: -$1,774,647 for the nine months ended September 30, 2025, compared to -$2,218,448 for the same period in 2024.</li><li>Net Decrease in Cash: -$4,944,372 for the nine months ended September 30, 2025, compared to -$3,385,807 for the same period in 2024.</li><li>Cash at End of Period: $546,591 as of September 30, 2025, compared to $1,708,987 as of September 30, 2024.</li></ul><h3>Future Outlook and Strategy</h3><h4>Core Business Focus</h4><ul><li>Backlog: Total backlog as of September 30, 2025, was $508,963,000, compared to $510,271,000 as of December 31, 2024.</li><li>Funded Backlog: $100,051,000 as of September 30, 2025, compared to $85,039,000 as of December 31, 2024.</li><li>Unfunded Backlog: $408,912,000 as of September 30, 2025, compared to $425,232,000 as of December 31, 2024.</li></ul><h4>Non-Core Business</h4><ul><li>Credit Agreement Waiver: On November 13, 2025, CPI Aerostructures, Inc. entered into a Sixteenth Amendment to its Credit Agreement with BankUnited, N.A. and the lenders party thereto. The amendment extended the maturity of the revolving credit facility to November 30, 2026, adjusted borrowing limits for future periods, waived a failure to pay principal, and eliminated a prior contingent payment requirement.</li></ul><h4>Priority</h4><ul><li>Liquidity: The company believes that existing resources as of September 30, 2025, will be sufficient to meet current working capital needs for at least the next 12 months.</li><li>Financial Covenants: The company is required to maintain specific financial covenants under the Credit Agreement, including a minimum debt service coverage ratio, maximum leverage ratio, minimum net income after taxes, and minimum adjusted EBITDA.</li></ul>

CPI Aerostructures, Inc. | 10-Q: FY2025 Q3 Revenue: USD 19.27 M