Revenue: As of FY2026 Q2, the actual value is USD 43.18 M, beating the estimate of USD 29.4 M.

EPS: As of FY2026 Q2, the actual value is USD -0.06, beating the estimate of USD -0.32.

EBIT: As of FY2026 Q2, the actual value is USD 1.86 M.

Financial Highlights for Q2 2026 and Six Months Ended June 30, 2026

Revenue

AIRO Group Holdings, Inc. reported revenue of $43.2 million for the second quarter ended June 30, 2026, marking a 76% increase compared to $24.6 million in the second quarter of 2025. This growth was primarily driven by stronger performance in the Drones segment, partially offset by underperformance in Avionics and Training businesses. For the six months ended June 30, 2026, revenue was $52.081 million, up from $36.345 million in the prior-year period.

Gross Profit and Margin

Gross profit for Q2 2026 was $27.7 million, an 84% increase from $15.0 million in Q2 2025. The gross margin improved to 64% in Q2 2026, up from 61% in the prior-year period and 27% in Q1 2026, mainly due to a favorable product mix shift towards higher-margin drone products. For the six months ended June 30, 2026, gross profit was $30.052 million, compared to $21.967 million in the prior-year period.

Operating Income/Loss

Operating income for Q2 2026 was $1.7 million, a significant improvement compared to an operating loss of - $19.7 million in Q2 2025. The income from operations margin was 4% in Q2 2026, compared to not meaningful in Q2 2025, attributed to higher revenue, improved gross margins, and the absence of IPO-related costs. For the six months ended June 30, 2026, the company reported an operating loss of - $15.504 million, an improvement from - $22.770 million in the prior-year period.

Net Loss/Income

Net loss for Q2 2026 was - $2 million, down from a net income of $5.9 million in Q2 2025. The net income margin was not meaningful in Q2 2026, compared to 24% in Q2 2025. For the six months ended June 30, 2026, net loss was - $17.447 million, compared to a net income of $3.898 million in the prior-year period.

Adjusted EBITDA

Adjusted EBITDA was $6.8 million in Q2 2026, an increase from $4.7 million in Q2 2025, representing a 45% year-over-year increase. The Adjusted EBITDA Margin was 15.8% in Q2 2026, compared to 19.1% in Q2 2025. For the six months ended June 30, 2026, Adjusted EBITDA was - $6.038 million, compared to $4.804 million in the prior-year period.

Drone Backlog

Drone backlog totaled $163 million as of June 30, 2026, representing a 9% increase compared to the first quarter of 2026.

Balance Sheet and Cash Flow

Cash Position

As of June 30, 2026, cash totaled $25.9 million, with minimal debt. Following the quarter-end, payment for drone deliveries was collected, leading to a preliminary estimated cash balance of approximately $56 million as of July 31, 2026.

Accounts Receivable

Accounts receivable increased during Q2 2026, primarily due to multiple drone deliveries late in the period.

Total Assets and Liabilities

Total assets were $757.047 million as of June 30, 2026, compared to $774.139 million as of December 31, 2025. Total liabilities were $36.907 million as of June 30, 2026, compared to $34.947 million as of December 31, 2025.

Stockholders’ Equity

Total stockholders’ equity was $720.140 million as of June 30, 2026, compared to $739.192 million as of December 31, 2025.

Outlook

AIRO Group Holdings, Inc. reiterates its full-year 2026 revenue growth guidance of 15% to 25% year-over-year and its full-year 2026 Adjusted EBITDA guidance in the negative mid- to high-teens dollar range. The company expects the majority of its $163 million Drone backlog as of June 30, 2026, to convert to revenue over the next 12 months, providing strong visibility into future growth. This figure excludes the U.S. backlog, which is anticipated to significantly increase the overall backlog once included.