IA on Nasdaq
INNOVATIVE SOLUTIONS & SUPPORT INC
Vertically integrated provider of flight solutions and equipment to commercial air transport1
In its 2025 annual report the company says: “We operate in one business segment that designs, develops, manufactures, sells and services avionics products and systems for retrofit applications and Original Equipment Manufacturers.”3 It is headquartered in Exton, Pennsylvania.1
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Last updated Oct 21, 2026.
Overview
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- TickerIA on Nasdaq1
- IndustryServices-Computer Programming Services1
- HeadquartersExton, Pennsylvania1
- Incorporated inPA2
- Business address720 Pennsylvania Drive, Exton, Pa 193412
- Filer categoryNon-accelerated filer, Smaller reporting company2
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Incorporated in Pennsylvania in 1988, IA is a vertically integrated provider of flight solutions and equipment to commercial air transport, general aviation markets, the United States Department of Defense (“DoD”) and allied foreign militaries.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
48.1%Gross margin4
23.8%Operating margin4
18.5%Net margin4
78.6%Revenue growth, 20254
24.2%Return on equity4
0.34×Debt to equity4
$6.8MFree cash flow4
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Product brought in 64% of the revenue INNOVATIVE SOLUTIONS & SUPPORT INC broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Product | $22.6M | $24.3M | $54.1M |
| Service | $12.2M | $22.9M | $30.2M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue51¢$43.8M
- Research and development5¢$4.0M
- Selling, general and admin19¢$16.4M
- Interest2¢$1.7M
- Income tax5¢$4.3M
- Profit18¢$15.6M
Out of $84.3M in revenue.4
Where each dollar of operating cash went, fiscal 2025
- Capital spending49¢$6.5M
- Kept or used elsewhere51¢$6.8M
Out of $13.3M of cash from operations.4
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Total net sales | $84.3M | $47.2M | $34.8M |
| Total cost of sales | $43.8M | $21.3M | $13.5M |
| Gross profit | $40.5M | $25.9M | $21.3M |
| Research and development | $4.0M | $4.1M | $3.1M |
| Selling, general and administrative | $16.4M | $12.1M | $10.8M |
| Total operating expenses | $20.4M | $16.3M | $14.0M |
| Operating income | $20.1M | $9.7M | $7.4M |
| Interest expense | -$1.7M | -$937.3K | -$393.3K |
| Interest income | $18.9K | $127.3K | $518.2K |
| Other income | $1.6M | $151.3K | |
| Income before income taxes | $20.0M | $8.9M | $7.6M |
| Income tax expense | $4.3M | $1.9M | $1.6M |
| Net income | $15.6M | $7.0M | $6.0M |
| Basic (in dollars per share) | $0.89 | $0.40 | $0.35 |
| Diluted (in dollars per share) | $0.88 | $0.40 | $0.35 |
| Basic (in shares) | 17.6M shares | 17.5M shares | 17.4M shares |
| Diluted(in shares) | 17.8M shares | 17.5M shares | 17.4M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.4
| Period ending | 2025-09-30 | 2024-09-30 | 2024-06-30 | 2023-09-30 |
|---|---|---|---|---|
| Cash and cash equivalents | $2.7M | $539.0K | ||
| Accounts receivable | $13.0M | $12.6M | $9.7M | |
| Contract assets | $5.3M | $1.7M | $487.1K | |
| Inventories | $25.8M | $12.7M | ||
| Prepaid inventory | $2.6M | $6.0M | ||
| Prepaid expenses and other current assets | $1.4M | $1.2M | ||
| Total current assets | $50.7M | $34.7M | ||
| Goodwill | $6.7M | $5.2M | $3.6M | |
| Intangible assets, net | $23.6M | $27.0M | ||
| Property and equipment, net | $18.8M | $13.4M | ||
| Deferred income taxes | $2.8M | $1.6M | ||
| Other assets | $718.5K | $473.7K | ||
| Total assets | $103.4M | $82.4M | ||
| Current portion of long-term debt | $2.4M | |||
| Accounts payable | $3.6M | $2.3M | ||
| Accrued expenses | $8.2M | $4.6M | ||
| Contract liability | $2.5M | $340.5K | ||
| Total current liabilities | $16.7M | $7.3M | ||
| Long-term debt | $21.7M | $28.0M | ||
| Other liabilities | $396.5K | $451.4K | ||
| Total liabilities | $38.8M | $35.7M | ||
| Common stock, $.001 par value: 75,000,000 shares authorized, 19,727,260 and 19,599,052 issued at September 30, 2025 and September 30, 2024, respectively | $17.6K | $17.5K | ||
| Additional paid-in capital | $39.8M | $37.4M | ||
| Retained earnings | $28.3M | $12.7M | ||
| Treasury stock, at cost, 2,096,451 shares at September 30, 2025 and at September 30, 2024, respectively | -$3.5M | -$3.5M | ||
| Total shareholders' equity | $64.6M | $46.6M | $38.6M | |
| Total liabilities and shareholders' equity | $103.4M | $82.4M | ||
| Preferred stock, shares authorized (in shares) | 10.0M shares | 10.0M shares | 10.0M shares | |
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 75.0M shares | 75.0M shares | 75.0M shares | |
| Common stock, shares issued (in shares) | 18.0M shares | 17.8M shares | ||
| Treasury stock, shares (in shares) | 339.6K shares | 339.6K shares |
| Period ending | 2025-09-30 | 2024-09-30 | 2024-06-30 | 2023-09-30 |
|---|---|---|---|---|
| Cash and cash equivalents | $2.7M | $539.0K | ||
| Accounts receivable | $13.0M | $12.6M | $9.7M | |
| Contract assets | $5.3M | $1.7M | $487.1K | |
| Inventories | $25.8M | $12.7M | ||
| Prepaid inventory | $2.6M | $6.0M | ||
| Prepaid expenses and other current assets | $1.4M | $1.2M | ||
| Total current assets | $50.7M | $34.7M | ||
| Goodwill | $6.7M | $5.2M | $3.6M | |
| Intangible assets, net | $23.6M | $27.0M | ||
| Property and equipment, net | $18.8M | $13.4M | ||
| Deferred income taxes | $2.8M | $1.6M | ||
| Other assets | $718.5K | $473.7K | ||
| Total assets | $103.4M | $82.4M | ||
| Current portion of long-term debt | $2.4M | |||
| Accounts payable | $3.6M | $2.3M | ||
| Accrued expenses | $8.2M | $4.6M | ||
| Contract liability | $2.5M | $340.5K | ||
| Total current liabilities | $16.7M | $7.3M | ||
| Long-term debt | $21.7M | $28.0M | ||
| Other liabilities | $396.5K | $451.4K | ||
| Total liabilities | $38.8M | $35.7M | ||
| Common stock, $.001 par value: 75,000,000 shares authorized, 19,727,260 and 19,599,052 issued at September 30, 2025 and September 30, 2024, respectively | $17.6K | $17.5K | ||
| Additional paid-in capital | $39.8M | $37.4M | ||
| Retained earnings | $28.3M | $12.7M | ||
| Treasury stock, at cost, 2,096,451 shares at September 30, 2025 and at September 30, 2024, respectively | -$3.5M | -$3.5M | ||
| Total shareholders' equity | $64.6M | $46.6M | $38.6M | |
| Total liabilities and shareholders' equity | $103.4M | $82.4M | ||
| Preferred stock, shares authorized (in shares) | 10.0M shares | 10.0M shares | 10.0M shares | |
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 75.0M shares | 75.0M shares | 75.0M shares | |
| Common stock, shares issued (in shares) | 18.0M shares | 17.8M shares | ||
| Treasury stock, shares (in shares) | 339.6K shares | 339.6K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Net income | $15.6M | $7.0M | $6.0M |
| Depreciation and amortization | $3.7M | $2.1M | $697.9K |
| Share-based compensation | $2.3M | $1.0M | $1.5M |
| Amortization of loan fees | $40.3K | ||
| Impairment of long-lived assets | $44.4K | ||
| Gain on disposal of property and equipment | -$160.6K | ||
| Deferred income taxes | -$1.3M | -$1.1M | $9.5K |
| Accounts receivable | -$344.0K | -$2.9M | -$5.4M |
| Contract assets | -$3.6M | -$1.2M | -$324.4K |
| Inventories | -$9.7M | -$2.3M | -$834.9K |
| Prepaid expenses and other current assets | -$479.1K | $811.7K | $69.5K |
| Other non-current assets | -$4.8K | -$295.0K | -$101.4K |
| Accounts payable | $1.3M | $978.2K | $628.4K |
| Accrued expenses | $2.7M | $624.3K | $203.8K |
| Income taxes payable | $850.9K | $1.1M | -$257.1K |
| Contract liabilities | $2.1M | $197.1K | -$115.8K |
| Net cash provided by operating activities | $13.3M | $5.8M | $2.1M |
| Purchases of property and equipment | -$6.5M | -$657.8K | -$298.4K |
| Acquisition of assets | -$4.2M | ||
| Acquisition of a business | -$14.2M | -$35.9M | |
| Proceeds from the sale of property and equipment | $2.2M | ||
| Net cash (used in) investing activities | -$6.5M | -$16.9M | -$36.2M |
| Debt proceeds | $52.4M | $20.0M | |
| Debt payments | -$28.0M | -$43.8M | -$500.0K |
| Initial Term Loan debt proceeds | $25.0M | ||
| Initial Term Loan principal payments | -$625.0K | ||
| Proceeds from exercise of stock options | $408.8K | ||
| Payments of debt issuance costs | -$984.6K | ||
| Net cash (used in) provided by financing activities | -$4.6M | $8.5M | $19.9M |
| Net increase (decrease) in cash and cash equivalents | $2.2M | -$2.6M | -$14.2M |
| Cash paid for income taxes | $4.7M | $1.9M | $1.9M |
| Cash paid for interest | $1.5M | $847.1K | $260.9K |
| Transfer from prepaid inventory to inventory | $3.4M | $4.3M | |
| Transfer from prepaid inventory to purchases of property and equipment | $3.3M | ||
| Transfer from prepaid inventory to goodwill | $516.6K | ||
| Transfer from prepaid inventory to intangible assets, net | $800.0K | ||
| Transfer from prepaid expenses and other current assets to PP&E | $119.6K | ||
| Transfer from intangible assets to goodwill | $1.5M | ||
| Transfer from prepaid expenses to intangible assets | $276.0K | ||
| Transfer from other assets to PP&E | $318.5K |
No quarter-by-quarter statement was filed.
Compare INNOVATIVE SOLUTIONS & SUPPORT INC with another company
Corporate structure
INNOVATIVE SOLUTIONS & SUPPORT 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 INNOVATIVE SOLUTIONS & SUPPORT INC
- BlackRock Filed SCHEDULE 13G on INNOVATIVE SOLUTIONS & SUPPORT INC, latest Jul 28, 2026
- Christopher Harborne Filed SCHEDULE 13D/A on INNOVATIVE SOLUTIONS & SUPPORT INC, latest Jul 15, 2025 (11 filings since Sep 13, 2022)
- Kevin P. Gilboy Filed SCHEDULE 13G/A on INNOVATIVE SOLUTIONS & SUPPORT INC, latest Jan 3, 2025 (2 filings since Feb 9, 2024)
- Of Geoffrey S. M. Hedrick Estate Filed SC 13D/A on INNOVATIVE SOLUTIONS & SUPPORT INC, latest Aug 19, 2024 (6 filings since Dec 28, 2022)
- Norman H. Pessin Filed SC 13D/A on INNOVATIVE SOLUTIONS & SUPPORT INC, latest Sep 12, 2022
- WealthTrust Axiom LLC Filed SC 13G/A on INNOVATIVE SOLUTIONS & SUPPORT INC, latest Feb 3, 2022
- INNOVATIVE SOLUTIONS & SUPPORT INC Exton, Pennsylvania
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What INNOVATIVE SOLUTIONS & SUPPORT 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
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $32.7M4 Sep 30, 2025 | $25.8M4 Sep 30, 2024 | +27.0% |
| Accumulated depreciation | $13.9M4 Sep 30, 2025 | $12.4M4 Sep 30, 2024 | +12.2% |
| Property and equipment, net | $18.8M4 Sep 30, 2025 | $13.4M4 Sep 30, 2024 | +40.6% |
| Operating-lease assets (leased space) | $2.1K8 Sep 30, 2024 | $15.1K8 Sep 30, 2023 | −86.1% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $2.7M4 Sep 30, 2025 | $539.0K4 Sep 30, 2024 | +399.8% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $6.7M4 Sep 30, 2025 | $5.2M4 Sep 30, 2024 | +28.6% |
| Intangible assets, net (excluding goodwill) | $23.6M4 Sep 30, 2025 | $27.0M4 Sep 30, 2024 | −12.7% |
| Finite-lived intangibles, gross | $29.2M8 Sep 30, 2024 | $17.1M8 Sep 30, 2023 | +70.1% |
| Accumulated amortization | $4.3M4 Sep 30, 2025 | $2.1M4 Sep 30, 2024 | +105.6% |
| Finite-lived intangibles, net | $27.0M8 Sep 30, 2024 | $16.2M8 Sep 30, 2023 | +66.9% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $25.8M4 Sep 30, 2025 | $12.7M4 Sep 30, 2024 | +102.7% |
| Raw materials | $22.4M4 Sep 30, 2025 | $9.9M4 Sep 30, 2024 | +127.6% |
| Work in process | $2.3M4 Sep 30, 2025 | $1.4M4 Sep 30, 2024 | +69.1% |
| Finished goods | $1.1M4 Sep 30, 2025 | $1.5M4 Sep 30, 2024 | −29.9% |
Properties, in its own words
In the fiscal year ended September 30, 2001, the Company purchased 7.5 acres of land in the Eagleview Corporate Park in Exton, Pennsylvania. Shortly thereafter, the Company constructed a 45,000 square foot design, manufacturing and office facility on this site. During the fiscal year ended September 30, 2025, the Company expanded the facility by approximately an additional 40,000 square feet. Subsequent to October 2025, we operate an 85,000 square foot design, manufacturing, and office facility in Exton, Pennsylvania, which we believe is adequate to meet the needs of the Company for the foreseeable future.
Item 2 of the 10-K filed Dec 23, 2025.3
Leadership
Who has led INNOVATIVE SOLUTIONS & SUPPORT INC, and when. Pick a name to see everywhere that person has worked.
President
Chief financial officer
2010201520202025
- Chief executive officerShahram Askarpour Jan 13, 2023 to now12
- Chief executive officerRaymond J. Wilson Jan 22, 2008 to Jan 22, 200813
- Chief executive officerGeoffrey S. M. Hedrick Jun 18, 2007 to Feb 4, 201414
- ChairGeoffrey S. M. Hedrick Jan 27, 2009 to Jan 27, 200915
- PresidentShahram Askarpour Apr 10, 2012 to Sep 15, 202016
- Chief financial officerJeffrey Digiovanni Apr 8, 2024 to now17
- Chief financial officerMichael Linacre Jul 26, 2022 to Aug 23, 202318
- Chief financial officerRelland Winand Dec 19, 2014 to Nov 14, 202319
- Chief financial officerRonald Albrecht Aug 27, 2010 to Jan 28, 201320
- Chief financial officerJohn C. Long Jan 29, 2008 to Sep 15, 200821
Board members and other officers (15)
- Board memberDenise L. Devine Jan 29, 2025 to now22
- Board memberRichard A. Silfen Nov 10, 2025 to now23
- Board memberGarry C. Dean May 22, 2024 to now24
- Board memberShahram Askarpour Nov 22, 2024 to now25
- Board memberParizad Olver Jul 13, 2022 to Apr 16, 202426
- Board memberStephen L. Belland Jul 18, 2022 to now27
- Board memberRoger Anthony Carolin Apr 19, 2016 to now28
- Board memberRobert Mionis Jul 29, 2010 to Jan 5, 201529
- Board memberRaymond J. Wilson Feb 16, 2007 to Jan 22, 200830
- Board memberGeoffrey S. M. Hedrick Jun 18, 2007 to Feb 4, 201414
- Board memberGlen R. Bressner Feb 6, 2006 to now31
- Board memberIvan M. Marks Oct 5, 2006 to Oct 5, 200932
- Board memberRobert E. Mittelstaedt Jr. Oct 5, 2006 to Jan 7, 202233
- Board memberRobert H. Rau Oct 5, 2006 to Jan 4, 201934
- Board memberWinston J. Churchill Oct 5, 2006 to Jan 5, 202335
Timeline
- Oct 7, 20268-K Completed an acquisition or sale36
- Sep 4, 20268-K Shareholder vote37
- Aug 13, 20268-K Results of operations38
- Jul 21, 20268-K Entered a material agreement; Completed an acquisition or sale; New debt or obligation39
- May 14, 20268-K Results of operations40
- Apr 17, 20268-K Shareholder vote41
- Apr 2, 20268-K Entered a material agreement; Completed an acquisition or sale; Other events42
- Feb 12, 20268-K Results of operations43
- Dec 18, 20258-K Results of operations44
- Oct 28, 20258-K Executive or director change; Other events45
- Aug 14, 20258-K Results of operations46
- Jul 22, 20258-K Entered a material agreement; New debt or obligation; Other events47
- Jan 13, 2023New chief executive Shahram Askarpour becomes CEO12
- Jan 22, 2008New chief executive Raymond J. Wilson becomes CEO13
- Jun 18, 2007New chief executive Geoffrey S. M. Hedrick becomes CEO14
Calendar
Coming up
- Around Nov 12, 2026Next results, estimated About a quarter after its last report. The company hasn't announced the date.
When it reported results
- Aug 13, 2026Reported quarterly or annual results38
- May 14, 2026Reported quarterly or annual results40
- Feb 12, 2026Reported quarterly or annual results43
- Dec 18, 2025Reported quarterly or annual results44
- Aug 14, 2025Reported quarterly or annual results46
- May 14, 2025Reported quarterly or annual results48
- Feb 13, 2025Reported quarterly or annual results49
- Dec 19, 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
306 filings to the SEC since October 2021: 9 annual reports, 15 quarterly reports, 63 major events, 165 insider forms, 22 large holders, 32 other. The latest 20:
- Oct 7, 20268-K/A EDGAR
- Oct 2, 20264 OWNERSHIP DOCUMENT EDGAR
- Sep 4, 20268-K/A EDGAR
- Sep 2, 20264 OWNERSHIP DOCUMENT EDGAR
- Sep 2, 20264 OWNERSHIP DOCUMENT EDGAR
- Sep 2, 20264 OWNERSHIP DOCUMENT EDGAR
- Aug 13, 202610-Q EDGAR
- Aug 13, 20268-K EDGAR
- Jul 28, 2026SCHEDULE 13G EDGAR
- Jul 21, 20268-K EDGAR
- Jul 15, 20264 OWNERSHIP DOCUMENT EDGAR
- Jul 15, 20264 OWNERSHIP DOCUMENT EDGAR
- Jul 10, 20264 OWNERSHIP DOCUMENT EDGAR
- Jul 6, 20264 OWNERSHIP DOCUMENT EDGAR
- May 21, 20264 OWNERSHIP DOCUMENT EDGAR
- May 20, 20264 OWNERSHIP DOCUMENT EDGAR
- May 20, 20264 OWNERSHIP DOCUMENT EDGAR
- May 15, 202610-Q EDGAR
- May 14, 20268-K EDGAR
- May 1, 20264/A OWNERSHIP DOCUMENT EDGAR
The 306 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
110 open-market trades by officers, directors and large owners since October 2021: 55 buys and 55 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jun 30, 2025 | Harborne Christopher10% owner | Sale | 145,009 | $13.69 | $2.0M | Form 4 |
| Jun 27, 2025 | Harborne Christopher10% owner | Sale | 72,499 | $13.68 | $991.7K | Form 4 |
| Jun 26, 2025 | Harborne Christopher10% owner | Sale | 59,667 | $13.21 | $788.2K | Form 4 |
| Jun 25, 2025 | Harborne Christopher10% owner | Sale | 90,655 | $12.92 | $1.2M | Form 4 |
| Jun 23, 2025 | Harborne Christopher10% owner | Sale | 89,414 | $12.50 | $1.1M | Form 4 |
| Jun 20, 2025 | Harborne Christopher10% owner | Sale | 31,953 | $12.25 | $391.4K | Form 4 |
| Jun 18, 2025 | Harborne Christopher10% owner | Sale | 17,198 | $12.28 | $211.2K | Form 4 |
| Jun 17, 2025 | Harborne Christopher10% owner | Sale | 21,809 | $12.77 | $278.5K | Form 4 |
| Jun 11, 2025 | Harborne Christopher10% owner | Sale | 5,116 | $11.77 | $60.2K | Form 4 |
| Jun 10, 2025 | Harborne Christopher10% owner | Sale | 438 | $11.75 | $5.1K | Form 4 |
| Jun 9, 2025 | Harborne Christopher10% owner | Sale | 63,592 | $11.78 | $749.1K | Form 4 |
| Jun 6, 2025 | Harborne Christopher10% owner | Sale | 35,437 | $11.76 | $416.7K | Form 4 |
| Jun 5, 2025 | Harborne Christopher10% owner | Sale | 11,944 | $11.79 | $140.8K | Form 4 |
| Jun 4, 2025 | Harborne Christopher10% owner | Sale | 43,997 | $11.67 | $513.4K | Form 4 |
| Jun 3, 2025 | Harborne Christopher10% owner | Sale | 6,766 | $11.50 | $77.8K | Form 4 |
| Jun 2, 2025 | Harborne Christopher10% owner | Sale | 17,740 | $11.51 | $204.2K | Form 4 |
| Feb 6, 2025 | Harborne Christopher10% owner | Sale | 14,970 | $11.59 | $173.5K | Form 4 |
| Feb 4, 2025 | Harborne Christopher10% owner | Sale | 63,368 | $11.21 | $710.4K | Form 4 |
| Jan 31, 2025 | Harborne Christopher10% owner | Sale | 42,788 | $11.84 | $506.6K | Form 4 |
| Jan 30, 2025 | Harborne Christopher10% owner | Sale | 7,086 | $11.17 | $79.2K | Form 4 |
All 110 trades can be filtered by person here when JavaScript is on.
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.
- BlackRockSCHEDULE 13G, 1 filing Jul 28, 202651
- Christopher HarborneSCHEDULE 13D/A, 11 filings Sep 13, 2022 to Jul 15, 202552
- Kevin P. GilboySCHEDULE 13G/A, 2 filings Feb 9, 2024 to Jan 3, 202553
- Of Geoffrey S. M. Hedrick EstateSC 13D/A, 6 filings Dec 28, 2022 to Aug 19, 202454
- Norman H. PessinSC 13D/A, 1 filing Sep 12, 202255
- WealthTrust Axiom LLCSC 13G/A, 1 filing Feb 3, 202256
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Shahram AskarpourChief Executive Officer | 68 | $525.0K | $2.5M57 |
| 2025 | Jeffrey DiGiovanniChief Financial Officer | 49 | $350.0K | $881.7K57 |
| 2024 | Shahram AskarpourChief Executive Officer | 68 | $500.0K | $3.0M57 |
| 2024 | Relland WinandInterim Chief Financial Officer | $147.7K | $277.0K57 | |
| 2024 | Michael LinacreFormer Chief Financial Officer | $116.6K | $117.6K57 | |
| 2023 | Shahram AskarpourChief Executive Officer | 68 | $400.0K | $2.4M57 |
| 2023 | Michael LinacreFormer Chief Financial Officer | $233.8K | $676.1K57 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 1,066,911 | $19.2M | 0.0% | +779,333 |
| Marshall Wace, Llp | 691,799 | $12.5M | 0.0% | −61,578 |
| Vanguard Capital Management LLC | 629,425 | $11.3M | 0.0% | +3,650 |
| Punch & Associates Investment Management, Inc. | 569,963 | $10.3M | 0.5% | +51,345 |
| Morgan Stanley | 503,365 | $9.1M | 0.0% | −99,882 |
| Renaissance Technologies LLC | 490,155 | $8.8M | 0.0% | +187,262 |
| Dimensional Fund Advisors LP | 411,427 | $7.4M | 0.0% | +43,160 |
| Geode Capital Management, LLC | 354,083 | $6.4M | 0.0% | +208,027 |
| Citadel Advisors LLC | 299,281 | $5.4M | 0.0% | +193,102 |
| CenterBook Partners LP | 264,954 | $4.8M | 0.2% | New |
| Roubaix Capital, LLC | 264,509 | $4.8M | 1.7% | New |
| Qube Research & Technologies Ltd | 261,417 | $4.7M | 0.0% | +49,280 |
| Gabelli Funds LLC | 221,219 | $4.0M | 0.0% | +103,449 |
| WealthTrust Axiom LLC | 220,268 | $4.0M | 0.9% | +13,936 |
| State Street Corp | 189,261 | $3.4M | 0.0% | +130,668 |
| Hennion & Walsh Asset Management, Inc. | 186,853 | $3.4M | 0.1% | +43,553 |
| Connor, Clark & Lunn Investment Management Ltd. | 168,061 | $3.0M | 0.0% | −2,792 |
| Isthmus Partners, LLC | 166,991 | $3.0M | 0.3% | +1,818 |
| Man Group plc | 142,100 | $2.6M | 0.0% | +61,511 |
| Bank of New York Mellon Corp | 140,640 | $2.5M | 0.0% | +84,869 |
| Gamco Investors, Inc. Et Al | 127,000 | $2.3M | 0.0% | +500 |
| Algert Global LLC | 121,591 | $2.2M | 0.0% | −109,243 |
| UBS Group AG | 117,442 | $2.1M | 0.0% | +10,732 |
| Teton Advisors, LLC | 116,000 | $2.1M | 1.2% | +5,000 |
| Northern Trust Corp | 114,979 | $2.1M | 0.0% | +73,807 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How INNOVATIVE SOLUTIONS & SUPPORT INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARINNOVATIVE SOLUTIONS & SUPPORT INC1
- CIK0000836690
- Employer ID (EIN)23-25074023
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company3
- Incorporated inPennsylvania3
- Fiscal year endsSeptember 301
- Industry code (SIC)7371 Services-Computer Programming Services1
- SEC reviewing officeOffice of Technology, Division of Corporation Finance1
- Business address720 Pennsylvania Drive, Exton, PA 193411
- Phone610 646 98001
- Shares outstanding17,899,173 as of Jul 31, 202610
- Public float$81.8M as of Mar 31, 20253
- AuditorGRANT THORNTON LLP, Philadelphia, Pennsylvania PCAOB ID 248; no auditor attestation of internal control over financial reporting3
- On EDGAR sinceMay 9, 20001
- Filings948 in all: 4 (371), 8-K (188), 10-Q (79), SC 13G/A (64), DEF 14A (26), SC 13G (26), 10-K (24), 3 (19)1
All 40 form types
CORRESP (18), DEFA14A (15), 4/A (12), SC 13D/A (12), UPLOAD (11), 144 (10), SD (10), 10-K/A (9), SCHEDULE 13D/A (7), 8-K/A (6), S-8 (5), S-3/A (4), EFFECT (3), S-3 (3), SC 13D (3), 10-K405 (2), 3/A (2), DEFR14A (2), NT 10-K (2), PRE 14A (2), S-1/A (2), 424B3 (1), 424B4 (1), 424B5 (1), 5 (1), 8-A12B (1), 8-A12G (1), ARS (1), NT 10-Q (1), S-1 (1), SCHEDULE 13G (1), SCHEDULE 13G/A (1)
- Latest filingsAnnual report (10-K) Dec 23, 2025
Quarterly report (10-Q) Aug 13, 2026
Proxy statement (DEF 14A) Mar 13, 2026
Latest 8-K (8-K) Aug 13, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock par value $.001 per share | ISSC | Nasdaq Stock Market, LLC |
From the cover page of the 10-K filed Dec 23, 2025 (Section 12(b) of the Exchange Act).3
Risk factors and legal proceedings
The risks INNOVATIVE SOLUTIONS & SUPPORT INC names in Item 1A of its 10-K filed Dec 23, 2025: 38 risks under these headings, as written.3
- 1A Risk Factors
- Risks Related to Our Business and Industry
- If the Company fails to enhance existing products, or to develop and achieve market acceptance for flat panel displays, flight control computers, display generators, flight management systems, autothrottle technology and other new products that meet customer requirements, its business, financial condition and results of operation may be affected adversely.
- Growth of the Company’s customer base could be limited by delays or difficulties in completing development and introduction of planned products or product enhancements.
- If the Company fails to modify or improve its products in response to evolving industry standards and government regulations, its products could become obsolete rapidly.
- We design, manufacture and service products that incorporate advanced technologies; the introduction of new products and technologies involves risks, and we may not realize the degree or timing of benefits initially anticipated.
- We may pursue strategic acquisitions, investments, strategic partnerships, product line acquisitions or other ventures, and our business could be materially harmed if we fail to successfully identify, evaluate, complete, and integrate such transactions. Acquisitions involve inherent risks that may adversely affect our operating results and financial condition. The Company may be unable to successfully integrate and realize the anticipated benefits of recent acquisitions.
- The Company’s revenue and operating results may vary significantly from quarter to quarter, which may cause its stock price to decline.
- Our sales in the commercial aircraft market are subject to downturns affecting the aerospace industry generally.
- The F-16 program comprises a material portion of our revenue and reductions or delays in funding for this program and risks related to performance, schedule, cost and requirements of the program could adversely affect our performance.
- Public health events and conditions could adversely affect our business, financial condition and operating results.
- Due to the inherent nature of our products and the industry in which we operate, a product safety failure or quality issue could seriously harm our business.
The other 28 risks
- We serve a limited number of customers and face customer concentration risk.
- Our customers may terminate their contracts with us at any time which would adversely affect our business.
- Changes in U.S. government priorities, spending levels and response to world events could adversely affect the Company’s ability to maintain or grow the revenue the Company receives through government contracting.
- Geopolitical factors and changes in policies and regulations could adversely affect our business.
- Government contracts are subject to special risks as a result of the U.S. government’s audit practices.
- The Company could be subjected to unanticipated losses in the event that the Company suffers cost overruns or contractual penalties in connection with fixed-price contracts or service arrangements to perform specified design and EDC services.
- The Company relies on third-party suppliers for components of its products, including several sole source suppliers, and any interruption in the supply of these components could hinder its ability to deliver products on a timely basis.
- The impacts of global supply chain and labor market disruptions on our supply chain have negatively affected and will continue to negatively affect our business.
- Our subcontractors and third-party suppliers may fail to deliver high quality materials, products or services, which may result in a failure of our products or services and a violation of applicable law.
- Our competitors have greater resources and experience than us, and if we are not able to compete, our business, financial condition and results of operations will be substantially adversely affected.
- The Company depends on key personnel to manage its business effectively, and an inability to attract and retain key employees and plan for management succession could adversely impact the Company’s ability to compete.
- We self-insure a significant portion of our employee medical insurance program, which may expose us to unpredictable costs and negatively affect our financial performance.
- The Company has limited experience in marketing and distributing its products internationally, which may limit the Company’s ability to penetrate international markets and increase international sales.
- Risks Related to Intellectual Property, Privacy, Cybersecurity, and Technical Infrastructure
- Our intellectual property rights are important to our operations, and we could suffer loss if they infringe upon others’ rights or are infringed upon by others.
- Certain of our products incorporate and rely upon licensed third-party technology.
- A cyber security incident or other technology disruption could have a negative impact on our business.
- Legal and Regulatory Risks
- The Company is subject to various laws and regulations. Changes to, or failure by the Company to comply with, these laws and regulations could have a significant negative impact on the Company’s business and operations.
- Exports and imports of certain of our products are subject to various export control, sanctions and import regulations and may require authorization from regulatory agencies of the U.S. or other countries.
- Litigation with customers, employees and others could harm our reputation and impact operating results.
- Tax changes could affect the Company’s effective tax rate and future profitability.
- Tariffs and other trade policies could have a substantial impact on our business.
- If the Company fails to maintain an effective system of internal control over financial reporting, it may not be able to accurately report its financial condition, results of operations or cash flows, which may adversely affect investor confidence in the Company and, as a result, the value of the Company’s common stock.
- Risks Related to Our Common Stock, Capital Markets and Indebtedness
- Our common stock may be affected by limited trading volume and may fluctuate significantly.
- Our common stock has experienced and may continue to experience significant price fluctuations, which could cause you to lose a significant portion of your investment and interfere with our efforts to grow our business.
- Because we do not intend to declare cash dividends on our shares of common stock in the foreseeable future, shareholders must rely on appreciation of the value of our common stock for any return on their investment.
- Volatility and weakness in capital markets may adversely affect credit availability and related financing costs, which could adversely affect the Company.
- There are risks associated with our outstanding and future indebtedness.
Legal proceedings
In the ordinary course of business, the Company is at times subject to various legal proceedings and claims. The Company does not believe any such matters that are currently pending will, individually or in the aggregate, have a material effect on the results of operations or financial position.
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.
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- 15SEC EDGARGeoffrey S. M. Hedrick, Chair
- 16SEC EDGARShahram Askarpour, President
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- 22SEC EDGARDenise L. Devine, Board member
- 23SEC EDGARRichard A. Silfen, Board member
- 24SEC EDGARGarry C. Dean, Board member
- 25SEC EDGARShahram Askarpour, Board member
- 26SEC EDGARParizad Olver, Board member
- 27SEC EDGARStephen L. Belland, Board member
- 28SEC EDGARRoger Anthony Carolin, Board member
- 29SEC EDGARRobert Mionis, Board member
- 30SEC EDGARRaymond J. Wilson, Board member
- 31SEC EDGARGlen R. Bressner, Board member
- 32SEC EDGARIvan M. Marks, Board member
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- 34SEC EDGARRobert H. Rau, Board member
- 35SEC EDGARWinston J. Churchill, Board member
- 36SEC EDGARCompleted an acquisition or sale
- 37SEC EDGARShareholder vote
- 38SEC EDGARResults of operations
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- 40SEC EDGARResults of operations
- 41SEC EDGARShareholder vote
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- 43SEC EDGARResults of operations
- 44SEC EDGARResults of operations
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- 46SEC EDGARResults of operations
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