For the quarter ending 2026-03-31, AIRO had -$20,135,000 decrease in cash & cash equivalents over the period. -$19,477,000 in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Non-cash interest | 0 | -102 | 47,972 | 1,064,130 |
| Non-cash gain on debt extinguishment | - | - | - | 15,559,069 |
| Non-cash gain on ipo transactions | - | 279 | 4,543,551 | 932,170 |
| Non-cash gain on debt extinguishment | - | - | 15,559,069 | - |
| Change in investor notes at fair value | - | 0 | 0 | 186,000 |
| Change in fair value of warranty liability | - | 0 | 0 | 1,843,000 |
| Change in deferred taxes | - | 522,463 | -243,463 | 0 |
| Non-cash charge for libertas warrants | - | -175 | 1,152,175 | - |
| Non-cash (gain) loss on debt extinguishment | - | -15,559,000 | - | - |
| Non-cash investor note interest | 0 | -103 | 0 | 6,731,103 |
| Change in fair value of contingent consideration | 0 | 174 | 0 | 20,271,826 |
| Note issuance for legal settlement | - | 0 | 0 | 750,000 |
| Deferred compensation | 0 | -365,438 | -597,692 | 325,130 |
| Net loss | -15,453,000 | -39,658 | -7,962,016 | 3,897,674 |
| Stock-based compensation | 1,502,000 | 50,689 | 1,092,753 | 18,762,558 |
| Provision for credit losses | 15,000 | 1,571 | 9,413 | 7,016 |
| Depreciation and amortization | 3,130,000 | 2,973,600 | 2,909,512 | 6,125,888 |
| Amortization of right-of-use lease assets | 289,000 | 299,715 | 195,064 | 86,221 |
| Accounts receivable | -4,064,000 | 11,036,148 | -21,347,847 | 12,612,699 |
| Related party receivables | -319,000 | 8,803 | -406,803 | 0 |
| Prepaid expenses and other assets | 2,073,000 | 2,206,604 | 1,346,360 | 119,036 |
| Inventory | 11,110,000 | -4,587,068 | 5,666,050 | 633,018 |
| Accounts payable, accrued expenses and other long-term liabilities | 5,141,000 | 598,619 | -10,394,156 | -9,404,463 |
| Related party payables | -2,064,000 | 7,080,413 | -393,968 | 4,555 |
| Lease liabilities | -314,000 | -338,878 | -109,547 | -103,575 |
| Deferred revenue | -850,000 | 1,970,757 | -1,670,392 | -7,216,365 |
| Net cash used in operating activities | -17,404,000 | 4,088,602 | -5,765,656 | -30,754,946 |
| Purchase of property and equipment and investment in intangible assets | 2,073,000 | 1,066,829 | 940,237 | 1,066,934 |
| Net cash used in investing activities | -2,073,000 | -1,066,829 | -940,237 | -1,066,934 |
| Proceeds from sale of common stock, net | - | -762,395 | 80,199,145 | 61,471,250 |
| Change in lines of credit | - | - | - | 127,396 |
| Repurchase of common stock | - | -598,133 | 20,011,133 | - |
| Proceeds from the exercise of warrants | - | -132 | 1,044 | 2,088 |
| Change in lines of credit | 0 | -396 | 127,396 | - |
| Proceeds from borrowings | 0 | 0 | 0 | 8,500,000 |
| Proceeds from related party borrowings | 0 | 100 | 0 | 230,900 |
| Debt issuance costs paid | 0 | 0 | 0 | 170,000 |
| Taxes paid related to net share settlements of common stock | - | -1,233,000 | - | - |
| Payment of contingent consideration | - | 390 | 5,267,988 | 3,266,622 |
| Repayments on borrowings | 464,000 | 5,211,122 | 6,072,152 | 14,071,726 |
| Cash paid to seller | - | 231 | 1,000,000 | 2,245,769 |
| Repayments on related party borrowings | 176,000 | 4,441,101 | 0 | 708,899 |
| Net cash (used in) provided by financing activities | -640,000 | -11,049,742 | 47,848,916 | 49,613,826 |
| Effect of exchange rate changes | -18,000 | -1,100,098 | 2,000,387 | 1,832,711 |
| Net decrease in cash and restricted cash | -20,135,000 | -9,128,067 | 43,143,410 | 19,624,657 |
| Cash and restricted cash as of beginning of period | 74,551,000 | 83,678,745 | 20,910,678 | - |
| Cash and restricted cash as of end of period | 54,416,000 | 74,551,000 | 83,678,745 | - |
AIRO Group Holdings, Inc. (AIRO)
AIRO Group Holdings, Inc. (AIRO)