Highest-materiality recent filing
CPI Aerostructures Q1 2026 revenue $17.4M, net income $1.2M vs loss of $1.3M prior year
Revenue $17.4M (+13% YoY); gross profit $4.5M (25.8% margin vs 10.7%)
CPI Aero Q4 net income $0.7M, FY2025 net loss $0.8M on A-10 termination
Q4 revenue $19.4M (down 11% YoY), net income $0.7M ($0.05 EPS) vs $1.0M ($0.08 EPS) prior year.
CPI Aerostructures enters $20M credit facilities with Western Alliance, repays BankUnited
New $10M revolving line and $10M term loan from Western Alliance Bank, maturing Dec 12, 2030.
CPI Aerostructures appoints Robert Mannix as CFO and Secretary effective Dec 8, 2025
Robert Mannix named CFO and Secretary; succeeds interim CFO Pamela Levesque.
CPI Aerostructures Q3 net income up 49% to $1.1M; debt at all-time low
Q3 revenue $19.3M (flat YoY); gross margin improved to 22.3% from 21.7%.
CPI Aero issues statement on unusual trading activity; no material undisclosed developments
Responding to NYSE American request after unusual trading in CVU common stock on Oct. 30, 2025.
CPI Aerostructures Q2 2025 revenue $15.2M, net loss $1.3M, A-10 write-off $2.3M
Revenue $15.2M vs $20.8M YoY; net loss $1.3M vs profit $1.4M; EPS loss $0.10 vs $0.11 profit.
CPI Aerostructures appoints Pamela Levesque as interim CFO; Philip Passarello resigns
Philip Passarello resigned as CFO/Secretary July 22, 2025; remains VP of Finance for transition.
Shareholders approved 2025 Long-Term Incentive Plan authorizing up to 800,000 shares of common stock for equity awards.
CPI Aero Q1 net loss $1.3M after $2.1M A-10 program charge; revenue falls to $15.4M
Revenue $15.4M vs $19.1M in Q1 2024; net loss of $1.3M vs net income of $0.2M.
CPI Aerostructures raises CEO base salary to $405,000 effective May 1, 2025
CEO Dorith Hakim's base salary increased 4.9% to $405,000.
CPI Aerostructures replaces auditor Marcum with CBIZ CPAs after Marcum's attest-asset sale
Marcum LLP resigned April 24, 2025, effective immediately, due to CBIZ CPAs acquiring Marcum's attest business.
CPI Aerostructures extends headquarters lease to April 30, 2031 with escalating rent
Monthly base rent ranges from $181,782 (May 2026-Apr 2027) to $204,597 (May 2030-Apr 2031).
CPI Aero Q4 revenue $21.8M, adj net income up 22% YoY; FY backlog $510M
Q4 revenue $21.8M (down 7% YoY); gross margin improved to 20.0% from 17.4%.
CPI Aerostructures amends Code of Ethics and Business Conduct effective Nov 12, 2024
Expanded conflict of interest guidelines; directors and executive officers must seek Audit and Finance Committee authorizations.
CPI Aerostructures Q3 net income up 149% to $0.7M; gross margin 21.7%
Revenue $19.4M (down 5% YoY); gross profit $4.2M; net income $0.7M ($0.06 EPS) vs $0.3M ($0.02 EPS).
CPI Aerostructures extends credit revolver to Aug 2026; reduces interest margin to 2.0%
Maturity extended to August 31, 2026; Base Rate Margin reduced to 2.0% from 3.50%.
CPI Aerostructures appoints Philip Passarello as CFO, replacing Andrew Davis
Philip Passarello appointed CFO effective August 20, 2024; succeeds Andrew Davis.
Philip Passarello, 45, appointed CFO and Secretary effective August 19, 2024; replaces Andrew Davis whose employment was terminated without cause.
CPI Aerostructures Q2 net income up 21.9% to $1.4M, EPS $0.11, adjusted EBITDA $2.6M
Q2 revenue $20.8M (flat YoY), gross margin 24.6% (+220 bps), net income $1.4M (+21.9%).
Settlement with SEC via cease-and-desist order; company neither admits nor denies findings.
CPI Aerostructures increases CEO base salary 4.8% to $385,000
CEO Dorith Hakim annual base salary raised 4.8% to $385,000, effective May 1, 2024.
Pamela Levesque re-elected as Class II director: 7,132,758 for, 327,822 withheld.
CPI Aerostructures dismisses RSM US LLP, appoints Marcum LLP as auditor
Audit committee dismissed RSM US LLP and engaged Marcum LLP effective June 17, 2024.
CPI Aero Q1 2024 revenue $19.1M, down 13% YoY; net income $0.2M, EPS $0.01
Revenue $19.1M, down from $22.0M in Q1 2023, driven by completion of NGJ Mid Band Pod LRIP 2 deliveries.
Q4 revenue $23.5M vs $24.1M; net income $14.8M ($1.20 EPS) includes $13.8M tax benefit.
CPI Aerostructures restates 2022 deferred tax balances; files late 10-K notice
Deferred tax asset and liability each overstated by $2.6M due to inadequate review of temporary differences.
Effective August 19, 2024, Philip Passarello, 45, was appointed by the board of directors of CPI Aerostructures, Inc. (the “Company) to the positions of Chief Financial Officer and Secretary.
Max materiality 0.80 · Median 0.60 · Most common event earnings