← AIR T INC

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Depreciation and amortization — — $2.4m $7.7m $5.7m $3.1m $1.9m $4.2m $2.8m $4.4m
Income from equity method of investments — — — — — — ($37k) ($1.5m) ($1.7m) ($1.7m)
Operating cash payments for operating leases — $7.6m $278k $0 $1.5m $1.7m $1.8m $1.9m $2.4m $2.3m
Net loss $3.8m ($4.9m) $2.5m $3.2m $11.2m ($8.4m) $12.2m ($11.8m) ($4.7m) ($5.4m)
Inventory write-down — — — — — — $768k $7.3m $1.2m $1.5m
Other — — — ($2.4m) ($4.6m) ($2.3m) $2.7m ($1.5m) ($1.5m) $758k
Accounts receivable ($1.5m) ($5.5m) $2.7m ($2.0m) ($2.2m) $6.1m ($12.7m) ($6.3m) $4.0m ($1.8m)
Inventories ($878k) ($7.8m) ($6.8m) $9.5m ($29.6m) ($129k) ($17.6m) $10.2m $9.1m $20.6m
Accounts payable $606k $4.1m ($1.7m) $4.3m $2.1m ($2.5m) $1.1m $992k $4.6m $2.7m
Accrued expenses $1.2m $1.6m $1.7m $2.0m $2.1m ($341k) ($485k) ($893k) $2.4m $1.1m
Employee retention credit receivable — — — — — $0 ($9.1m) $8.2m $940k $0
Investment in unconsolidated entities — — — ($2.0m) ($2.8m) $0 ($6.8m) ($3.1m) ($4.6m) ($7.0m)
Distribution from unconsolidated entities — — — — — — — $683k $3.2m $6.0m
Disbursements for note receivable - Lendway — — — — — — — — $0 ($3.8m)
Proceeds from lines of credit $14.3m $68.3m $115.5m $107.5m $174.6m $66.4m $99.4m $139.3m $124.2m $136.5m
Payments on lines of credit ($19.3m) ($49.8m) ($119.2m) ($109.9m) ($147.9m) ($105.6m) ($84.6m) ($133.0m) ($142.0m) ($131.4m)
Proceeds from term loan — — $38.4m $27.7m $35.9m $59.3m $34.2m $10.6m $24.9m $24.9m
Payments on term loan — — ($4.8m) ($15.7m) ($47.4m) ($27.3m) ($3.8m) ($27.9m) ($28.3m) ($35.0m)
Proceeds received from issuance of TruPs — — — $0 $8.5m $1.3m $11.3m $0 $8.8m $910k
Assumption of liabilities to acquire assets on lease — — — — — — — — $0 $720k
Non-cash contribution from non-controlling interest — — — — — — — — $0 $475k
Contingent earnout for Contrail Aviation Support, LLC ("Contrail") redeemed interest — — — — — — — — $0 $1.1m
Related-party note payable for Contrail redeemed interest — — — — — — — — $0 $4.6m
Due from CAM expense reimbursements converted into notes receivable - CAM — — — — — — — — $0 $2.5m
Equipment leased or held for lease transferred to inventory — — $2.1m $0 $4.9m $19.6m $12k $12.7m $73k $0
Equipment in inventory transferred to assets on lease — — — — $501k $0 $13.1m $33k $260k $112k
Total adjustments ($543k) ($2.6m) ($2.7m) $17.7m ($28.7m) ($2.5m) ($40.5m) $17.4m $18.3m $22.4m
Net cash provided by operating activities $3.2m ($7.6m) ($278k) $20.9m ($25.1m) ($1.8m) ($33.1m) $16.9m $17.2m $23.5m
Capital expenditures related to property & equipment ($1.2m) ($2.3m) ($20.2m) ($1.3m) ($2.4m) ($3.9m) ($1.5m) ($1.2m) ($1.1m) ($1.1m)
Capital expenditures related to assets on lease or held for lease — — ($18.1m) ($19.1m) ($36.3m) ($2.1m) ($28k) $0 $0 ($14.6m)
Net cash used in investing activities ($5.3m) ($3.7m) ($26.4m) ($23.0m) $8.6m $2.5m ($33.4m) ($6.2m) ($2.5m) ($20.2m)
Repurchase of common stock — ($7.9m) — ($744k) — — — — ($876k) ($1.4m)
Net cash used in financing activities ($6.0m) $8.7m $28.7m $9.5m $19.2m $71k $59.3m ($12.4m) ($13.9m) ($4.8m)
Effect of foreign currency exchange rates on cash and cash equivalents $2k ($16k) ($3k) $96k $260k ($412k) ($341k) $361k ($16k) $408k
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH $1.4m $7.6m $3.0m $356k ($7.6m) ($1.3m) $753k ($1.1m)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD $5.0m $12.5m $15.6m $15.9m $7.1m $7.8m $6.8m
Cash and cash equivalents $5.3m $2.8m $4.8m — — — — — $7.1m $5.9m
Restricted cash, current — — — — — — — — — $575k
Restricted cash, long-term — — — — — — — — — $250k
Cash paid during the year for interest — $298k $1.1m $2.9m $3.3m $2.7m $1.5m $5.9m $3.9m $8.4m
Cash paid during the year for income taxes $2.8m $1.1m $1.7m $527k $1.5m $477k $429k $1.0m $917k $983k

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.