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CVU on NYSE

CPI AEROSTRUCTURES INC

CPI AEROSTRUCTURES INC is an American aircraft parts and auxiliary equipment company based in Edgewood.1 Its shares trade on NYSE under the symbol CVU.1

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Last updated Oct 21, 2026.

Overview

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  • TickerCVU on NYSE1
  • IndustryAircraft Parts & Auxiliary Equipment, NEC1
  • HeadquartersEdgewood, New York1
  • Incorporated inNY2
  • Business address200A Executive Dr, Edgewood, Ny 117172
  • Filer categoryNon-accelerated filer, Smaller reporting company2
  • Legal formCorporation

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OEM customers in the defense sector include leading prime defense contractors such as:3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

15.2%Gross margin4
-0.3%Operating margin4
-1.2%Net margin4
-14.6%Revenue growth, 20254
-3.3%Return on equity4
0.39×Debt to equity4
-$5.3MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Government subcontracts brought in 80% of the revenue CPI AEROSTRUCTURES INC broke down this way in fiscal 2025.

  1. Government subcontracts$55.5M480%down 14% from 2024
  2. Prime government contracts$7.4M411%down 36% from 2024
  3. Commercial Contracts$6.3M49%up 34% from 2024
Products and services by year
Products and services20242025
Government subcontracts$64.7M$55.5M
Prime government contracts$11.7M$7.4M
Commercial Contracts$4.7M$6.3M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue83¢$58.7M
  • Selling, general and admin15¢$10.7M
  • Income tax1¢$900.9K

Out of $69.3M in revenue.4 The company lost money this year.

Financial statements

Revenue56784$69.3M in 2025−21% since 2019
0$50.0M$100.0M$150.0M2019: $87.5M$87.5M20192020: $87.6M$87.6M2020+0%2021: $103.4M$103.4M2021+18%2022: $83.3M$83.3M2022−19%2023: $86.5M$86.5M2023+4%2024: $81.1M$81.1M2024−6%2025: $69.3M$69.3M2025−15%
Gross profit56784$10.6M in 2025+55% since 2019
0$5.0M$10.0M$15.0M$20.0M2019: $6.8M$6.8M20192020: $9.8M$9.8M2020+43%2021: $15.0M$15.0M2021+54%2022: $16.3M$16.3M2022+9%2023: $17.1M$17.1M2023+5%2024: $17.2M$17.2M2024+1%2025: $10.6M$10.6M2025−39%
Operating income56784-$176.4K in 2025−96% since 2019
-$5.0M0$5.0M$10.0M2019: -$4.7M-$4.7M20192020: -$2.3M-$2.3M2020−52%2021: $3.2M$3.2M20212022: $4.9M$4.9M2022+54%2023: $6.3M$6.3M2023+29%2024: $6.7M$6.7M2024+7%2025: -$176.4K-$176.4K2025
Net income56784-$843.4K in 2025−88% since 2019
-$10.0M0$10.0M$20.0M2019: -$6.8M-$6.8M20192020: -$3.7M-$3.7M2020−46%2021: $6.8M$6.8M20212022: $9.2M$9.2M2022+35%2023: $17.2M$17.2M2023+87%2024: $3.3M$3.3M2024−81%2025: -$843.4K-$843.4K2025

Every line of the income statement as filed: the last 2 fiscal years, latest first.11

Period ending2025-12-312024-12-31
Revenue$69.3M$81.1M
Cost of sales$58.7M$63.8M
Gross profit$10.6M$17.2M
Selling, general and administrative expenses$10.7M$10.5M
(Loss) income from operations-$176.4K$6.7M
Interest expense-$1.6M-$2.3M
(Loss) income before benefit (provision) for income taxes-$1.7M$4.4M
Benefit (provision) for income taxes$900.9K-$1.1M
Net (loss) income-$843.4K$3.3M
(Loss) income per common share-basic-$0.07$0.26
(Loss) income per common share-diluted-$0.07$0.26
Basic12.8M shares12.6M shares
Diluted12.8M shares12.7M shares

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Corporate structure

CPI AEROSTRUCTURES INC sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of CPI AEROSTRUCTURES INC

  • ROYCE & ASSOCIATES LP Filed SCHEDULE 13G on CPI AEROSTRUCTURES INC, latest Jul 21, 2026 (8 filings since Jan 14, 2022)
  • CALM WATERS PARTNERSHIP Filed SCHEDULE 13G/A on CPI AEROSTRUCTURES INC, latest Jul 16, 2026 (6 filings since Mar 13, 2024)
  • Paul Packer Filed SCHEDULE 13G/A on CPI AEROSTRUCTURES INC, latest Feb 14, 2025 (6 filings since Feb 14, 2022)
  • John C. Rudolf Filed SCHEDULE 13G/A on CPI AEROSTRUCTURES INC, latest Jan 8, 2025 (3 filings since Oct 20, 2022)
  • Russell Investments Group, Ltd. Filed SC 13G/A on CPI AEROSTRUCTURES INC, latest Feb 11, 2022
  • CPI AEROSTRUCTURES INC Edgewood, New York

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What CPI AEROSTRUCTURES INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$12.1M4 Dec 31, 2025$12.1M4 Dec 31, 2024+0.5%
Accumulated depreciation$11.7M4 Dec 31, 2025$11.3M4 Dec 31, 2024+3.7%
Property and equipment, net$412.6K4 Dec 31, 2025$767.9K4 Dec 31, 2024−46.3%
Operating-lease assets (leased space)$9.5M4 Dec 31, 2025$2.9M4 Dec 31, 2024+233.1%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$1.8M4 Dec 31, 2025$1.8M4 Dec 31, 20240%

Inventory

ItemLatestA year beforeChange
Inventory, total$800.8K4 Dec 31, 2025$918.3K4 Dec 31, 2024−12.8%
Raw materials$524.9K4 Dec 31, 2025$414.8K4 Dec 31, 2024+26.5%
Work in process$7.5K4 Dec 31, 2025$60.7K4 Dec 31, 2024−87.6%
Finished goods$268.4K4 Dec 31, 2025$442.8K4 Dec 31, 2024−39.4%

Properties, in its own words

CPI Aero’s executive offices and production facility are located in an approximately 171,000 square foot building at 91 Heartland Boulevard, Edgewood, New York 11717. We use approximately 131,000 square feet of this building for manufacturing and approximately 40,000 square feet for offices and laboratories supporting engineering and design work. CPI Aero occupies this facility under a lease that expires on April 30, 2031.

Item 2 of the 10-K filed Mar 31, 2026.3

Leadership

Who has led CPI AEROSTRUCTURES INC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Edward J. Fred2006–2013
  2. Douglas McCrosson2015–2021
  3. Dorith Hakim2022–now

Chair

  1. Eric Rosenfeld2006–2012

President

  1. Edward J. Fred2006–2013
  2. Douglas McCrosson2015–2021
  3. Dorith Hakim2022–now

Chief financial officer

  1. Vincent Palazzolo2006–2019
  2. Dan Azmon2020
  3. Andrew L. Davis2021–2024
  4. Philip Passarello2024
  5. Pamela Levesque2026
  6. Robert Mannix2026–now

Chief operating officer

  1. Douglas McCrosson2010–2013
2010201520202025
Board members and other officers (14)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerKenneth Hauser named Feb 17, 2022 to Mar 18, 202234
  • DirectorCarey Bond named Feb 17, 2022 to Mar 18, 202234

Timeline

  1. Sep 16, 20268-K Shareholder vote35
  2. Aug 13, 20268-K Results of operations36
  3. Jun 11, 20268-K Executive or director change37
  4. May 18, 20268-K Results of operations38
  5. Mar 31, 20268-K Results of operations39
  6. Dec 12, 20258-K Entered a material agreement; Ended a material agreement; New debt or obligation40
  7. Dec 9, 20258-K Entered a material agreement; Executive or director change41
  8. Nov 14, 20258-K Results of operations42
  9. Oct 30, 20258-K Other events43
  10. Aug 19, 20258-K Results of operations44
  11. Jul 28, 20258-K Executive or director change45
  12. Jun 25, 20258-K Executive or director change; Shareholder vote46
  13. Mar 11, 2022New chief executive Dorith Hakim becomes CEO12
  14. Aug 11, 2015New chief executive Douglas McCrosson becomes CEO13
  15. Dec 21, 2006New chief executive Edward J. Fred becomes CEO14

Calendar

Coming up

  1. Nov 12, 2026Reports results for the quarter ending Sep/202647

When it reported results

  1. Aug 13, 2026Reported quarterly or annual results36
  2. May 18, 2026Reported quarterly or annual results38
  3. Mar 31, 2026Reported quarterly or annual results39
  4. Nov 14, 2025Reported quarterly or annual results42
  5. Aug 19, 2025Reported quarterly or annual results44
  6. May 15, 2025Reported quarterly or annual results48
  7. Mar 31, 2025Reported quarterly or annual results49
  8. Nov 14, 2024Reported quarterly or annual results50

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

223 filings to the SEC since October 2021: 8 annual reports, 17 quarterly reports, 70 major events, 70 insider forms, 24 large holders, 2 private raises, 32 other. The latest 20:

  1. Sep 18, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  2. Sep 16, 20268-K CURRENT REPORT EDGAR
  3. Aug 13, 20268-K CURRENT REPORT EDGAR
  4. Aug 13, 202610-Q EDGAR
  5. Jul 31, 2026ARS ANNUAL REPORT TO SECURITY HOLDERS EDGAR
  6. Jul 31, 2026DEFA14A ADDITIONAL DEFINITIVE PROXY SOLICITING MATERIALS EDGAR
  7. Jul 31, 2026DEF 14A DEFINITIVE PROXY STATEMENT EDGAR
  8. Jul 21, 2026SCHEDULE 13G EDGAR
  9. Jul 16, 2026SCHEDULE 13G/A EDGAR
  10. Jun 25, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  11. Jun 11, 20268-K CURRENT REPORT EDGAR
  12. Jun 10, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  13. Jun 10, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  14. May 18, 20268-K CURRENT REPORT EDGAR
  15. May 15, 202610-Q QUARTERLY REPORT EDGAR
  16. May 14, 20263 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  17. Apr 29, 202610-K/A AMENDMENT TO FORM 10-K EDGAR
  18. Apr 14, 2026EFFECT EDGAR
  19. Apr 14, 2026424B5 PROSPECTUS FILED PURSUANT TO RULE 424(B)(5) EDGAR
  20. Apr 10, 2026CORRESP EDGAR

The 223 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

13 open-market trades by officers, directors and large owners since October 2021: 12 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 12, 2025Carey Bond EDirectorBuy10,000$2.88$28.8KForm 4
Nov 19, 2024Rosenjack Richard CDirectorBuy5,000$3.37$16.9KForm 4
Nov 18, 2024Levesque PamelaDirector and former CFOBuy10,000$3.13$31.3KForm 4
Aug 26, 2024Caswell Richard SDirectorBuy10,000$2.88$28.8KForm 4
Aug 22, 2024Carey Bond EDirectorBuy10,000$2.70$27.0KForm 4
Aug 22, 2024Caswell Richard SDirectorBuy5,000$2.69$13.4KForm 4
May 30, 2023PACKER PAUL10% ownerSale48,901$3.69$180.4KForm 4
Nov 29, 2022Caswell Richard SDirectorBuy2,000$3.10$6.2KForm 4
Nov 28, 2022Caswell Richard SDirectorBuy500$3.12$1.6KForm 4
Nov 28, 2022STINSON TERRY DEANDirectorBuy30,000$3.10$93.0KForm 4
Oct 3, 2022PACKER PAUL10% ownerBuy6,300$1.60$10.1KForm 4
Sep 22, 2022PACKER PAUL10% ownerBuy20,541$1.00$20.5KForm 4
Sep 21, 2022PACKER PAUL10% ownerBuy237$1.00$237Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$160.8M 2008–2026
Money received by yearMoney received by year, 2008–2026: $160.8M in all. Private raises (Form D) $569.0K; PPP loans $4.8M; Federal contracts $155.4M.$0$10M$20M$30M2008 · Federal contracts: $24.6M20082009 · Federal contracts: $10.0M2010 · Federal contracts: $8.6M20102011 · Federal contracts: $10.3M2012 · Federal contracts: $63.7K20122014 · Federal contracts: $93.5K20142015 · Federal contracts: $12.9M2016 · Federal contracts: $248.8K20162017 · Federal contracts: $8.1M2018 · Federal contracts: $5.2M20182019 · Federal contracts: $9.5M2020 · PPP loans: $4.8M2020 · Federal contracts: $12.0M20202021 · Federal contracts: $16.4M2022 · Private raises (Form D): $569.0K2022 · Federal contracts: $2.5M20222023 · Federal contracts: $14.3M2024 · Federal contracts: $384.7K20242025 · Federal contracts: $12.4M2026 · Federal contracts: $7.9M2026
Without federal contracts$5.4M 2020–2022
Without federal contractsWithout federal contracts, 2020–2022: $5.4M in all. Private raises (Form D) $569.0K; PPP loans $4.8M.$0$2M$4M$6M2020 · PPP loans: $4.8M202020212022 · Private raises (Form D): $569.0K2022
Figures by year
YearPrivate raises (Form D)PPP loansFederal contractsTotal
2026––$7.9M$7.9M
2025––$12.4M$12.4M
2024––$384.7K$384.7K
2023––$14.3M$14.3M
2022$569.0K–$2.5M$3.0M
2021––$16.4M$16.4M
2020–$4.8M$12.0M$16.8M
2019––$9.5M$9.5M
2018––$5.2M$5.2M
2017––$8.1M$8.1M
2016––$248.8K$248.8K
2015––$12.9M$12.9M
2014––$93.5K$93.5K
2012––$63.7K$63.7K
2011––$10.3M$10.3M
2010––$8.6M$8.6M
2009––$10.0M$10.0M
2008––$24.6M$24.6M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Mar 10, 2022Raised $50,000 in a private offering of equity34 Form D: named in the filing: Dorith Hakim, Walter Paulick, Richard Caswell, Eric Rosenfeld, Michael Faber, Kenneth Hauser Form D
  2. Feb 7, 2022Raised $519,000 in a private offering of securities56 Form D: named in the filing: Walter Paulick, Douglas McCrosson, Carey Bond, Richard Caswell, Michael Faber, Eric Rosenfeld Form D

Federal awards

Obligated amounts from USAspending.gov57, by calendar year, 2008–2026, for its registration. Obligations are what agencies committed, not always what was paid out. Contracts pay for goods and services; grants, loans and direct payments are assistance. Loans are charted at the face value of the loans listed here. An award’s amount below is its lifetime total, and some began before the years charted.

Largest contracts

  1. May 8, 2001$56.6M from Department of the Air Force: Asc/ytk cpi aerostructures, inc executive drive edgewood ny edgewood suffolk new york airframe structural components airframes and spares no58 To CPI AEROSTRUCTURES INC Award F3365701C2064
  2. Sep 5, 2027$10.7M from Department of the Air Force: T-38 structural improvement modification kits59 To CPI AEROSTRUCTURES INC Award FA822025FB020
  3. Feb 12, 2021$8.7M from Department of the Air Force: T-38a/b/c pacer classic iii - phase iii/talon repair inspection and maintenance (trim) contract for structural and fastener kits.60 To CPI AEROSTRUCTURES INC Award FA822021F0006
  4. Sep 18, 2023$7.9M from Department of the Air Force: T-38a/b/c pacer classic iii - phase iii/talon repair inspection and maintenance (trim) contract for structural and fastener kits61 To CPI AEROSTRUCTURES INC Award FA822023F0018
  5. Sep 18, 2025$7.9M from Department of the Air Force: T-38 structural improvement modification kits62 To CPI AEROSTRUCTURES INC Award FA822025FB019

PPP loans

Paycheck Protection Program loans of $150,000 and up, approved April 2020 to July 2021, from the SBA63. Matched to this company by name and state.

  1. Apr 7, 2020$4.8M PPP loan (first draw) from Dime Community Bank63To CPI AEROSTRUCTURES, INC., Brentwood NY; $4.9M forgiven Jul 2, 2021

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 37. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Royce & Associates LP835,632$4.3M0.0%+233,430
Vanguard Capital Management LLC424,990$2.2M0.0%+5,101
LPL Financial LLC197,174$1.0M0.0%−5,765
Geode Capital Management, LLC123,637$641.8K0.0%+5,976
Kornitzer Capital Management Inc /ks109,500$568.3K0.0%−22,000
Jane Street Group, LLC97,877$508.0K0.0%+38,140
Dimensional Fund Advisors LP91,201$473.3K0.0%+23,052
State Street Corp74,970$389.1K0.0%−500
Vanguard Fiduciary Trust Co69,353$359.9K0.0%+442
NewEdge Advisors, LLC64,799$336.3K0.0%+29,951
Marex Group Ltd58,939$305.9K0.0%No change
Fortis Capital Management LLC58,500$303.6K0.0%No change
Susquehanna International Group, Llp53,748$279.0K0.0%+575
XTX Topco Ltd53,356$276.9K0.0%+37,969
Citadel Advisors LLC53,250$276.4K0.0%−1,141
Penn Capital Management Company, LLC52,992$275.0K0.0%+17,425
Apollon Wealth Management, LLC37,000$192.0K0.0%New
BlackRock, Inc.36,542$189.7K0.0%+6,965
James Investment Research, Inc.34,848$180.9K0.0%No change
Northern Trust Corp26,086$135.4K0.0%+810
Bridgeway Capital Management, LLC21,200$110.0K0.0%No change
Centiva Capital, LP20,233$105.0K0.0%New
Murchinson Ltd.14,178$73.6K0.0%No change
Simplex Trading, LLC13,107$68.0K0.0%−8,762
Granite Investment Partners, LLC12,204$63.3K0.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How CPI AEROSTRUCTURES INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARCPI AEROSTRUCTURES INC1
  • CIK0000889348
  • Employer ID (EIN)11-25203103
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inNew York3
  • Fiscal year endsDecember 311
  • Industry code (SIC)3728 Aircraft Parts & Auxiliary Equipment, NEC1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business address200A Executive Dr, Edgewood, NY 117171
  • Mailing address91 Heartland Blvd, Edgewood, NY 117171
  • Phone51658652001
  • Shares outstanding13,249,734 as of Aug 10, 202610
  • Public float$41.2M as of Jun 30, 20253
  • AuditorCBIZ CPAs P.C, Melville, New York PCAOB ID 199; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceMay 13, 19961
  • Filings1,105 in all: 4 (364), 8-K (268), SC 13G/A (75), 10-Q (66), DEF 14A (32), 3 (29), 10QSB (26), 10-K (21)1
    All 49 form types

    SC 13G (21), ARS (13), SC 13D/A (13), DEFA14A (12), NT 10-K (10), NT 10-Q (10), S-8 (9), UPLOAD (9), CORRESP (8), S-3 (8), SCHEDULE 13G/A (8), SD (8), 10KSB (7), 4/A (7), 8-K/A (7), EFFECT (7), 424B5 (6), 10-K/A (5), 10-Q/A (5), 5 (5), POS AM (4), PRE 14A (4), SC 13D (4), SCHEDULE 13G (4), 10KSB/A (3), 10QSB/A (3), S-3/A (3), SB-2/A (3), 10KSB40 (2), 424B1 (2), 424B3 (2), D (2), SC 13E4/A (2), 10-C (1), 3/A (1), 5/A (1), 8-A12B (1), DEFR14A (1), S-8 POS (1), SB-2 (1), SC 13E4 (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Jul 31, 2026
    Latest 8-K (8-K) Sep 16, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $.001 par valueCVUNYSE American

From the cover page of the 10-K filed Mar 31, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks CPI AEROSTRUCTURES INC names in Item 1A of its 10-K filed Mar 31, 2026: 32 risks under these headings, as written.3

  • Risks Related to Our Business
  • We depend on government contracts for a significant portion of our revenues.
  • We depend on a limited number of prime contractors and government customers for a significant portion of our revenue.
  • A significant portion of our revenue is derived from a limited number of aerospace and defense programs.
  • Our backlog may not be indicative of future revenue and may not result in realized revenue.
  • We may experience liquidity constraints if we are unable to finance working capital requirements associated with our contracts.
  • Our contracts with the U.S. Government and prime contractors are subject to audit and oversight, which could adversely affect our business.
  • We face risks relating to government contracts.
  • We face risks associated with competing for and performing under competitively awarded contracts.
  • Further consolidation in the aerospace industry could adversely affect our business and financial results.
  • Due to fixed contract pricing, increasing contract costs exposes us to reduced profitability and the potential loss of future business.
  • We use estimates when accounting for contracts. Changes in estimates may affect our profitability and our overall financial position.
The other 21 risks
  • We incur risks associated with new programs.
  • We depend on suppliers for materials, and services, and disruptions in our supply chain could adversely affect our ability to fulfill our contracts.
  • If our subcontractors or suppliers fail to perform their contractual obligations, our contract performance, and our ability to obtain future business and our profitability could be materially and adversely impacted.
  • We are subject to intense competition for the skilled technicians necessary to manufacture our products.
  • We may be unable to attract and retain personnel who are key to our operations.
  • Cybersecurity incidents, system failures and technological changes, including developments in machine learning and generative artificial intelligence, could adversely affect our business and operations.
  • Product liability claims in excess of insurance could adversely affect our financial results and financial condition.
  • We are subject to strict governmental regulations relating to the environment, which could result in fines and remediation expenses in the event of non-compliance.
  • We must maintain certain approvals, qualifications and certifications to manufacture products for our customers.
  • We may be subject to fines and disqualification for non-compliance with Federal Aviation Administration regulations.
  • We are presently classified as a small business and the loss of our small business status may adversely affect our ability to compete for government contracts.
  • We are subject to the cyclical nature of the commercial aerospace industry, and any future downturn in the commercial aerospace industry or general economic conditions, including inflation could adversely impact the demand for our products.
  • Increased scrutiny from investors, regulators, customers and other stakeholders regarding environmental practices, sustainability initiatives and climate-related matters could expose us to additional costs and adversely affect our reputation, operations and stock price.
  • Any lawsuit to which we are a party, regardless of merit, may result in an unfavorable judgment. We also may decide to settle lawsuits on unfavorable terms. Any such negative outcome could result in payments of substantial damages or fines, damage to our reputation or adverse changes to our business practices.
  • Risks Related to Global Events
  • Geopolitical conflicts, including the current escalation involving Iran, Israel and the United States, as well as terrorism and other global security threats, could adversely affect our business, financial condition and results of operations.
  • Risks Related to Our Internal Controls and Financial Reporting
  • If we fail to maintain effective internal control over financial reporting, our ability to accurately report our financial results could be adversely affected.
  • Risks Related to Our Tax Attributes
  • Our ability to utilize our net operating loss carryforwards may be limited, which could reduce the value of these tax attributes and adversely affect our financial condition and results of operations.
  • Risks Related to Our Indebtedness
  • We are subject to financial covenants under the Loan and Security Agreement with Western Alliance Bank and a failure to comply with those covenants could result in a default that could materially adversely affect our liquidity and operations.
  • Our obligations under the Loan and Security Agreement are secured by a first priority security interest in substantially all of our assets, which could limit our financing flexibility and expose our assets to foreclosure in the event of a default.
  • The Loan and Security Agreement contains restrictions on our operations that may limit our business flexibility.
  • Our cost of borrowing under the Loan and Security Agreement is based on a variable interest rate and increases in interest rates could negatively impact our profitability.

Legal proceedings

From time to time, the Company may be involved in legal proceedings arising in the ordinary course of business. As of the date of this Annual Report on Form 10-K, the Company is not a party to any material legal proceedings.

The opening of Item 3, Legal Proceedings.3

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
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    SEC EDGAROther events
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