secwatch.observer — SEC 8-K summary
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Issuer:     AIR INDUSTRIES GROUP (AIRI)
CIK:        0001009891
Form:       8-K
Filed at:   2024-11-14T23:59:59+00:00
Accession:  0001213900-24-097786
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Air Industries Q3 net loss narrows 69% to $404K, adj EBITDA turns positive to $845K
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- Q3 revenue $12.6M (+2.1% YoY), gross margin 15.5% vs 10.0%, op income $67K vs loss $796K.
- Net loss narrowed to $404K from $1.3M (69% improvement); adj EBITDA $845K vs loss $53K.
- Backlog $105M as of Sep 30, 2024, up 22% since Jan 2023; book-to-bill 1.40x TTM.
- FY2024 outlook: at least $50M revenue target; adj EBITDA expected to significantly exceed 2023.
- Total debt $24.98M, up 7.1% from Dec 31, 2023; company compliant with loan covenants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1009891/000121390024097786/0001213900-24-097786-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1009891/000121390024097786/ea0221074-8k_airindust.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-097786

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer