v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Mar. 31, 2025
Current Assets:    
Cash and cash equivalents $ 20,332 $ 5,932
Marketable securities 1,026 422
Restricted cash 4,938 575
Restricted investments 0 683
Accounts receivable, net of allowance for doubtful accounts of $1,614 and $1,338 39,889 23,917
Income tax receivable 196 681
Inventories, net 77,127 38,516
Prepaid expenses 8,851 3,103
Other current assets 7,617 4,678
Total Current Assets 159,976 78,507
Assets on lease or held for lease, net of accumulated depreciation of $60 and $1,451 0 14,662
Property and equipment, net of accumulated depreciation of $18,571 and $9,240 162,024 20,285
Intangible assets, net of accumulated amortization of $8,046 and $6,330 13,029 10,020
Right-of-use ("ROU") assets 14,594 13,274
Equity method investments 26,068 19,003
Goodwill 11,818 10,542
Other assets 7,568 1,635
Total Assets 409,123 173,778
Current Liabilities:    
Accounts payable 36,971 17,782
Income tax payable 687 0
Accrued expenses and other (Note 11) 49,717 16,691
Current portion of earnout liability 198 430
Short-term lease liability 3,403 2,377
Total Current Liabilities 95,524 47,661
Deferred income tax liabilities, net 3,359 2,249
Long-term lease liability 12,189 11,843
Long-term earnout liability 244 1,109
Other non-current liabilities 2,023 866
Total Liabilities 317,902 168,242
Redeemable non-controlling interests 10,346 7,054
Commitments and contingencies (Note 22)
Air T, Inc. Stockholders' (Deficit) Equity:    
Preferred stock, $1.00 par value, 4,000,000 and 2,000,000 shares authorized 0 0
Common stock, $0.25 par value; 4,000,000 shares authorized, 3,030,245 and 3,030,245 shares issued, 2,701,375 and 2,702,639 shares outstanding 758 758
Treasury stock, 328,870 shares at $19.56 and 327,606 shares at $19.55 (6,432) (6,404)
Additional paid-in capital 1,122 947
Retained earnings 80,113 2,130
Accumulated other comprehensive income (loss) 4,249 (647)
Total Air T, Inc. Stockholders' Equity (Deficit) 79,810 (3,216)
Non-controlling Interests 1,065 1,698
Total Equity (Deficit) 80,875 (1,518)
Total Liabilities and Equity 409,123 173,778
CAM    
Current Assets:    
Equity method investments 10,322 12,428
Bloomia    
Current Assets:    
Equity method investments 0 729
Related party    
Current Liabilities:    
Current portion of long-term debt 915 1,282
Long-term debt 0 3,288
Related party | CAM    
Current Assets:    
Debt investment (Note 9) 1,160 2,500
Related party | Bloomia    
Current Assets:    
Debt investment (Note 9) 3,600 3,350
Nonrelated party    
Current Assets:    
Debt investment (Note 9) 9,286 0
Current Liabilities:    
Current portion of long-term debt 3,633 9,099
Long-term debt $ 204,563 $ 101,226