What is Air T's revenue?

Air T (AIRT) generated $327.1M in revenue over the trailing twelve months, up 12.1% year over year.

Air T reported $78.0M in net income over the trailing twelve months, a 23.8% net margin.

What is Air T's earnings per share?

Air T's diluted EPS over the trailing twelve months is $28.84.

Where does Air T's income statement data come from?

Every line is extracted from Air T's SEC filings (10-K and 10-Q) and tagged in XBRL. Switch between quarterly, annual, and trailing-twelve-month views, or open any line for its full history and peer comparisons.

Air T AIRT Income Statement

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q4 '26	Q3 '26	Q2 '26	Q1 '26	Q4 '25
Total revenue	$120.94M+82.4%	$71.13M-8.7%	$64.15M-21.0%	$70.87M+6.7%	$66.32M-8.8%
General and administrative	$31.06M+104%	$16.65M+17.4%	$18.1M+27.4%	$15.03M+2.9%	$15.23M+15.2%
Occupancy and equipment	$1.24M+30.6%	$906K+20.0%	$874K+16.7%	$841K+25.9%	$948K+37.4%
Depreciation and amortization	$8.64M+556%	$1.59M+19.4%	$827K-12.9%	$1.28M+68.9%	$1.32M+85.6%
Total operating expenses	$134.71M+95.5%	$74.91M-2.0%	$65.68M-15.4%	$70.03M+4.5%	$68.89M-3.3%
Operating income	-$13.77M—	-$3.78M-365%	$5.51M+52.2%	$446K+177%	——
Operating margin	-11.4%—	-5.3%-7.1pp	8.6%+4.1pp	0.6%+1.5pp	——
Interest expense	$5.1M+197%	$2.38M-7.1%	$2.25M+4.2%	$2.31M+18.9%	$1.72M-0.6%
Other income (expense), net	$95.24M+2,038%	$1.9M+182%	$1.73M+638%	-$1.25M-284%	-$4.92M-95.4%
Income from equity method investments	-$10.13M—	$4.23M+540%	$4.18M+78.1%	-$19K-101%	——
Income before income taxes	$81.47M+1,187%	-$1.88M-110%	$7.23M+119%	-$807K-883%	-$7.49M-606%
Income tax expense	——	$121K-65.1%	$2.2M+555%	-$136K-292%	——
Net income	$77.72M+1,206%	-$2.45M-89.0%	$4.36M+72.8%	-$1.64M-388%	-$7.03M-313%
Net margin	64.3%+74.9pp	-3.4%-1.8pp	6.8%+3.7pp	-2.3%-1.8pp	-10.6%-8.3pp
Net income attributable to noncontrolling interests	$4.58M—	$450K+733%	$678K+53.0%	$965K+163%	——
Diluted earnings per share	$28.75+1,227%	-$0.91-93.6%	$1.61+76.9%	-$0.61-408%	-$2.55-325%
Basic earnings per share	$28.75+1,227%	-$0.91-93.6%	$1.61+76.9%	-$0.61-408%	-$2.55-325%
Weighted-average shares, diluted	2.7M-1.7%	2.7M-1.9%	2.7M-2.1%	2.7M-2.1%	2.8M-2.3%
Weighted-average shares, basic	2.7M-1.7%	2.7M-1.9%	2.7M-2.1%	2.7M-2.1%	2.8M-2.3%
Other expenses	$1.13M+14.5%	$1.13M+14.5%	$1.13M+14.5%	$1.13M+14.5%	$982.5K—
Interest Income (Expense), Nonoperating	$5.1M+197%	$2.38M-7.1%	$2.25M+4.2%	$2.31M+18.9%	$1.72M-0.6%
Accretion of fair value discount	$332K—	$332K—	$332K—	$332K—	$0—
Adjustments To Additional Paid In Capital, Stock Option Forfeiture	——	——	——	——	——
Accounts Receivable, Allowance for Credit Loss, Recovery	$3.25K-98.5%	$3.25K-98.5%	$3.25K-98.5%	$3.25K-98.5%	$221K+3,057%
Accounts Receivable, Allowance for Credit Loss, Writeoff	$72.25K-64.0%	$72.25K-64.0%	$72.25K-64.0%	$72.25K-64.0%	$200.5K+178%
Stock options excluded as their inclusion would be anti-dilutive (in shares)	——	——	——	0—	0—
Business Combination Bargain Purchase Gain Recognized Amount	$27.8M—	$27.8M—	$27.8M—	$27.8M—	$0—
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1	$0—	$0-100%	-$264K-195%	-$402K-1,910%	——
Increase in acquired value	——	——	——	$1M—	——
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation	——	$24.39M+155%	$2.57M+435%	$8.47M+882%	-$12.01M-552%
Allocation of comprehensive income from unconsolidated investments	$13K—	$7K-12.5%	$204K+10,100%	$5K—	——
Comprehensive Income (Loss), Net Of Tax, Attributable To Redeemable Noncontrolling Interests	——	-$3K+99.4%	$7K-96.2%	$248K—	——
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$80.96M+1,166%	-$1.29M+18.5%	$4.66M+60.1%	-$1.45M-230%	-$7.6M-278%
Less: comprehensive income attributable to noncontrolling interest	$4.58M—	$450K+733%	$678K+53.0%	$965K+163%	——
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	$85.54M+1,207%	-$837K+45.2%	$5.34M+59.1%	-$489K-561%	-$7.73M-518%
Revenue recognized that was included in deferred income at the beginning of the period	$7.89M+7.8%	-$1.01M-156%	-$1.3M-5.3%	-$1.58M+20.4%	$7.32M+8,409%
Federal	$38.25K—	$38.25K—	$38.25K—	$38.25K—	$0-100%
Foreign	$404.25K+190%	$404.25K+190%	$404.25K+190%	$404.25K+190%	$139.25K-38.2%
Current State And Local Tax Expense Benefit	$61.75K+48.8%	$61.75K+48.8%	$61.75K+48.8%	$61.75K+48.8%	$41.5K+173%
Federal	-$99.75K-581%	-$99.75K-581%	-$99.75K-581%	-$99.75K-581%	$20.75K-34.1%
Deferred Foreign Income Tax Expense Benefit	-$49K+46.4%	-$49K+46.4%	-$49K+46.4%	-$49K+46.4%	-$91.5K-341%
Deferred Sales Inducement Cost, Amortization Expense	$400K+33.3%	$400K+33.3%	$400K+33.3%	$400K+33.3%	$300K0.0%
State	-$13.25K-212%	-$13.25K-212%	-$13.25K-212%	-$13.25K-212%	-$4.25K-30.8%
Defined Contribution Plan Cost Recognized	$275K+10.0%	$275K+10.0%	$275K+10.0%	$275K+10.0%	$250K+11.1%
Depreciation	$2.55M+500%	$2.55M+500%	$2.55M+500%	$2.55M+500%	$425K—
Effect of exchange rate changes on cash, cash equivalents and restricted cash	——	-$170K-147%	——	-$292K-1,013%	$48K—
Effective tax rates	——	-$0.06+83.5%	$0.3+198%	$0.17-75.5%	-$0.39+52.9%
Income taxes at U.S. statutory rate of 21%	21%0.0%	——	——	——	21%0.0%
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent	——	——	——	——	-25.5%+22.8%
Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate	——	——	——	——	-12.1%-14.6%
Effective Income Tax Rate Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary	——	——	——	——	-2.8%+2.7%
Foreign operations	——	——	——	——	2%+12.1%
Other	-$0—	-$0—	-$0—	-$0—	——
Share-based compensation	-27.1%—	——	——	——	——
State income taxes, net of federal benefit	——	——	——	——	3.3%+0.1%
State income taxes, net of federal benefit	——	——	——	——	-$41.25K-32.0%
airt_EffectiveIncomeTaxRateReconciliationSection831bBenefitPercentage	——	——	——	——	0%+7.7%
State income taxes – net of federal income tax benefit	0.1%—	——	——	——	——
Changes in unrecognized tax benefits	0%—	——	——	——	——
Effective Income Tax Rate Reconciliation, Tax Credit, Foreign, Percent	1%—	——	——	——	——
Fair Value Adjustment Of Warrants	-$11.5K—	-$11.5K—	-$11.5K—	-$11.5K—	——
Number of companies serviced	——	——	——	2+300%	0.5—
Total number of companies serviced	——	——	——	8+300%	2—
Gain on sale of aircraft on lease	——	$0—	$7.03M—	——	$0—
Gain (loss) on sale of derivatives	$500-98.8%	$500-98.8%	$500-98.8%	$500-98.8%	$41.75K+4,075%
Foreign Currency Translation and Other Adjustments	——	——	$100K—	$300K—	——
Income Loss From Continuing Operations Before Income Taxes Domestic	$25.19M+2,203%	$25.19M+2,203%	$25.19M+2,203%	$25.19M+2,203%	-$1.2M-38.1%
Income Loss From Continuing Operations Before Income Taxes Foreign	-$3.68M-7,378%	-$3.68M-7,378%	-$3.68M-7,378%	-$3.68M-7,378%	-$49.25K+59.5%
Federal taxes	$50K—	$50K—	$50K—	$50K—	——
Foreign	$125K—	$125K—	$125K—	$125K—	——
State taxes	$50K—	$50K—	$50K—	$50K—	——
Income Tax Rate Reconciliation, Section 831 Benefit	——	——	——	——	$0-100%
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	——	——	——	——	$318K-33.4%
Income Tax Reconciliation Change In Enacted Tax Rate	——	——	——	——	$151.25K+705%
Equity income or loss	——	——	——	——	$35K-35.5%
Income Tax Reconciliation Foreign Income Tax Rate Differential	——	——	——	——	-$25.25K-125%
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	$4.52M+1,824%	$4.52M+1,824%	$4.52M+1,824%	$4.52M+1,824%	-$262K-26.1%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Amount	-$33.75K—	-$33.75K—	-$33.75K—	-$33.75K—	——
Share-based compensation	-$5.84M—	-$5.84M—	-$5.84M—	-$5.84M—	——
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	$28K—	$28K—	$28K—	$28K—	——
Changes in unrecognized tax benefits	$0—	$0—	$0—	$0—	——
Income Tax Reconciliation Tax Credits Foreign	$202.5K—	$202.5K—	$202.5K—	$202.5K—	——
Accounts payable	$18.14M+140%	$228K+104%	-$2.16M-241%	$133K+112%	$7.55M+392%
Increase (Decrease) in Accounts Receivable	$1.26M—	$7.3M—	-$5.86M-171%	$653K+1,406%	——
Accrued liabilities	$7.43M+2,046%	-$6.89M-437%	$1.41M+611%	$3.82M+471%	$346K-90.1%
Increase (Decrease) in Inventories	$11.47M—	$4.58M+137%	$6.69M+205%	$1.36M+155%	$0—
Increase (Decrease) in Other Current Assets	$1.99M—	——	$731K+25.6%	$2.82M+660%	——
Increase (Decrease) in Other Operating Assets and Liabilities, Net	$2.8M+542%	$947K+45.2%	-$2.86M-200%	$1.29M+294%	$436K—
Interest Income, Other	$187K+99.5%	$187K+99.5%	$187K+99.5%	$187K+99.5%	$93.75K+308%
Lease Cost	$2.22M+52.5%	$1.49M+9.3%	$1.36M+6.6%	$1.37M+15.0%	$1.46M+26.4%
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders	——	——	$3M+12,129%	$38K+55.1%	$24.5K—
Minority Interest Decrease From Redemptions	$0—	$0—	$0—	$0+100%	$0—
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation	$11.65M+191%	$50M+1,209%	——	$12.58M+1,074%	-$12.79M—
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation	-$28.8M-750%	-$6.94M-167%	$16.66M+203%	-$2.72M-236%	-$3.39M-24.7%
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation	-$44K-101%	-$18.5M-213%	-$5.41M-285%	-$1.1M-1,069%	$4.12M—
Net Income Loss Attributable To Noncontrolling Interest	$4.58M—	$450K+733%	$678K+53.0%	$965K+163%	——
Net Income Loss Attributable To Redeemable Noncontrolling Interest	——	——	——	——	——
Net loss	$79.78M+1,236%	-$2.45M-91.7%	$4.66M+84.9%	-$1.58M-366%	-$7.02M-311%
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests, Including Retained Earnings	——	——	——	——	——
Number of anniversary has fixed price put option	——	——	——	30.0%	——
Number of installments after exercise	——	——	——	30.0%	——
Number of operating segments	——	1—	——	40.0%	——
Number of reportable segments	——	10.0%	——	——	10.0%
Operating Lease Payments	$916K+62.1%	$916K+62.1%	$916K+62.1%	$916K+62.1%	$565K-3.9%
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax	$3.11M+780%	$1.14M+285%	$159K-77.9%	$413K+926%	$353K+577%
Net gains (losses) deferred	——	$3K—	-$65K—	——	——
Cash flow hedges	——	$3K—	-$65K—	——	$0—
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax	-$13K-102%	-$12K-106%	-$12K-108%	-$12K-106%	$793K+211%
Foreign currency translation gains (losses)	$2.9M+825%	$1.4M+300%	$146K—	$54K+107%	-$400K+50.0%
Other comprehensive income (loss)	$3.25M+672%	$1.16M+511%	$303K-22.3%	$182K+272%	-$568K-82.6%
Other Comprehensive Income Other Net Of Tax	——	$10K-98.1%	$197K+209%	-$243K-24,400%	——
Other Noncash Income (Expense)	-$2.03M-231%	-$2.95M-207%	$606K+138%	-$440K+31.5%	-$613K—
Other income, net (Note 6)	-$718K—	$47K+111%	-$201K+60.2%	$678K-0.7%	——
Passthrough cost	$11.48M+15.0%	$11.48M+15.0%	$11.48M+15.0%	$11.48M+15.0%	$9.98M+9.6%
Payment for (Proceeds from) Other Investing Activity	$482K+690%	——	$281K+621%	$124K+639%	$61K+150%
Loan advances to other unrelated entity	$2.32M—	$2.32M—	$2.32M—	$2.32M—	$0—
Payments Related To Assets On Lease	$0-100%	$0-100%	——	——	$3.65M—
Payments to Acquire Businesses, Net of Cash Acquired	$336K—	$5.21M—	$0—	$1.18M—	$0—
Payments To Acquire Interest In Subsidiaries And Affiliates	$4.45M-6.1%	$4.04M+76.1%	$4.73M—	$2.04M—	$4.74M+33.5%
Payments to Acquire Property, Plant, and Equipment	$15.26M+10,139%	$783K+123%	$213K-12.0%	$231K-31.9%	$149K-62.6%
Payments To Loans Advance from Investing Activities	——	——	——	——	——
Payments to Noncontrolling Interests	$60K-87.7%	$493K+253%	——	——	$489K—
Proceeds From Collection Of Notes Receivable	——	$367K—	——	——	$400K—
Debt issued (Note 13)	$10.05M+37,122%	$55.42M+273%	$0-100%	$10.85M—	$27K-99.9%
Proceeds from revolver	$34.12M+9.4%	$30.62M-15.4%	$44.27M+14.9%	$35.97M+17.5%	$31.18M-21.1%
Financing — other	-$12K-101%	-$406K+51.8%	-$10K-104%	-$286K+4.7%	$2.12M—
Proceeds From Sale Of Flight Equipment	$4.97M—	$4.97M—	$4.97M—	$4.97M—	$0—
Repayments of Lines of Credit	$34.38M-9.9%	$28.28M-16.2%	$40.67M+34.0%	$32.2M+10.7%	$38.16M-10.3%
Revenue From Contract With Customer Excluding Assessed Tax	$120.94M+82.4%	$71.13M-8.7%	$64.15M-21.0%	$70.87M+6.7%	$66.32M-7.5%
Other revenue from third parties	$900K-10.0%	$1.3M+62.5%	——	——	$1M+42.8%
Other revenue	$67K-2.9%	$44K0.0%	$44K+2.3%	$44K+2.3%	$69K-76.1%
Right Of Use Asset Obtained In Exchange For Operating Lease Liability	$300K0.0%	$3.5M—	$0—	$200K—	$300K—
Property, plant, and equipment additions	$15.26M+10,139%	$820K+143%	$176K-98.8%	$231K-31.9%	$149K-44.6%
Expected volatility	53.6%+9.3%	——	——	——	44.3%0.0%
Risk-free rate	4.1%+3.2%	——	——	——	0.9%0.0%
Weighted-average dividend yield	0%—	——	——	——	0%—
Short Term Lease Cost	$565K+205%	$293K-14.6%	$232K-19.7%	$279K-5.1%	$185K-24.5%
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	$46K+15.0%	$48K+60.0%	$41K+36.7%	$40K-4.8%	$40K—
Value of shares repurchased	$7K—	$7K-98.1%	$7K—	$7K-97.7%	——
Variable Lease Cost	$419K+29.3%	$289K+9.9%	$252K+6.8%	$246K+8.8%	$324K+48.6%
ATA 25.1 warrants (Note 18)	——	$7K—	——	——	——
EBIT	-$13.77M-138%	-$3.78M-365%	$5.51M+52.2%	$446K+177%	-$5.78M-498%
EBITDA	-$5.13M-15.0%	-$2.2M-180%	$6.34M+38.7%	$1.73M+845%	-$4.46M-306%
EBITDA	-$5.13M-15.0%	-$2.2M-180%	$6.34M+38.7%	$1.73M+845%	-$4.46M-306%
EBITDA margin	-4.2%+2.5pp	-3.1%-6.6pp	9.9%+4.3pp	2.4%+2.2pp	-6.7%-9.7pp
EBIT	-$13.77M-138%	-$3.78M-365%	$5.51M+52.2%	$446K+177%	-$5.78M-498%

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Questions, answered.

What is Air T's revenue?: Air T (AIRT) generated $327.1M in revenue over the trailing twelve months, up 12.1% year over year.
Is Air T profitable?: Air T reported $78.0M in net income over the trailing twelve months, a 23.8% net margin.
What is Air T's earnings per share?: Air T's diluted EPS over the trailing twelve months is $28.84.
Where does Air T's income statement data come from?: Every line is extracted from Air T's SEC filings (10-K and 10-Q) and tagged in XBRL. Switch between quarterly, annual, and trailing-twelve-month views, or open any line for its full history and peer comparisons.