Innovative Aerosystems Q2 sales up 2% to $22.4 million, net income falls to $3.4 million
Innovative Aerosystems reported fiscal second-quarter 2026 results for the three months ended March 31, 2026, with net sales up 2% to $22.4 million. Net income fell to $3.4 million, or $0.19 per diluted share, from $5.3 million, or $0.30, a year earlier, as operating expenses rose to $6.5 million and one-time acquisition costs were incurred. Net debt rose to $48.3 million and the leverage ratio to 1.7x from 1.4x, as the company spent over $30 million on acquisitions in the first half.
Key points
- Net sales were $22.4 million, up from $21.9 million a year earlier, while F-16 revenue declined by $7 million.
- Net income was $3.4 million, or $0.19 per diluted share, versus $5.3 million, or $0.30, in the prior-year quarter.
- Adjusted EBITDA was $6.8 million, down from $7.7 million; net debt was $48.3 million, and the leverage ratio was 1.7x at March 31, 2026.
- Backlog was approximately $87.0 million as of March 31, 2026, up $7.4 million from the prior-year period.
The filing
Written by AI on Nov 9, 2026, 8:28 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 14, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.