Aeries Technology Files Q3 FY25 10-Q

TL;DR

Aeries Tech 10-Q filed for Q3 FY25. Check financials.

AI Summary

Aeries Technology, Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter of fiscal year 2025. Key financial data and business operations for this period are detailed within the report.

Why It Matters

This filing provides investors with an update on Aeries Technology's financial performance and operational status for the most recent quarter, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal performance trends or risks, requiring careful analysis.

Key Numbers

• 0.0001 — Par Value (Per share for Class Ordinary Shares)
• 11.50 — Exercise Price (For Redeemable Warrants)

Key Players & Entities

• Aeries Technology, Inc. (company) — Filer of the 10-Q
• Worldwide Webb Acquisition Corp. (company) — Former name of Aeries Technology, Inc.
• 20240930 (date) — End of the reporting period
• 20241119 (date) — Date of filing

FAQ

Key Financial Figures

• $0.0001 — ed Class A ordinary shares, par value $0.0001 per share AERT The Nasdaq Stock Mar
• $11.50 — ordinary share at an exercise price of $11.50 AERTW The Nasdaq Stock Market Ind
• $10.69 — d at a price per share of approximately $10.69. AARK incurred approximately $ 3,697 i

Filing Documents

• aeriestech_10q.htm (10-Q) — 1439KB
• aeriestech_ex31-1.htm (EX-31.1) — 14KB
• aeriestech_ex31-2.htm (EX-31.2) — 14KB
• aeriestech_ex32-1.htm (EX-32.1) — 6KB
• aeriestech_ex32-2.htm (EX-32.2) — 6KB
• 0001829126-24-007681.txt ( ) — 7289KB
• aert-20240930.xsd (EX-101.SCH) — 65KB
• aert-20240930_cal.xml (EX-101.CAL) — 70KB
• aert-20240930_def.xml (EX-101.DEF) — 259KB
• aert-20240930_lab.xml (EX-101.LAB) — 419KB
• aert-20240930_pre.xml (EX-101.PRE) — 383KB
• aeriestech_10q_htm.xml (XML) — 1151KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 39 Item 4.

Controls and Procedures

Controls and Procedures 39

OTHER INFORMATION

PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 41 Item 1A.

Risk Factors

Risk Factors 41 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42 Item 3. Defaults Upon Senior Securities 42 Item 4. Mine Safety Disclosures 42 Item 5. Other Information 42 Item 6. Exhibits 43

SIGNATURES

SIGNATURES 44 i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Some of the statements contained in this report may constitute "forward-looking statements" for purposes of the federal securities laws. Our forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "will," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this report are based on current expectations and beliefs concerning future developments and their potential effects on us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. The following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: our market opportunity; our ability to maintain the listing of the Class A ordinary shares and the warrants on the Nasdaq Stock Market, and the potential liquidity and trading of such securities; our ability to recognize the anticipated benefits of our de-SPAC transaction completed in November 2023, wh

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements AERIES TECHNOLOGY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS As of September 30, 2024 and March 31, 2024 (in thousands of United States dollars, except share and per share amounts) SEPTEMBER 30, 2024 MARCH 31, 2024 (Unaudited) (Audited) ASSETS Current assets: Cash and cash equivalents $ 3,627 $ 2,084 Accounts receivable, net of allowance of $ 4,844 and $ 1,263 as of September 30, 2024 and March 31, 2024, respectively 18,477 23,757 Prepaid expenses and other current assets, net of allowance of $ 1 and $ 1 , as of September 30, 2024 and March 31, 2024, respectively 7,343 6,995 Total current assets $ 29,447 $ 32,836 Property and equipment, net 3,728 3,579 Operating right-of-use assets 8,486 7,318 Deferred tax assets 3,899 1,933 Long-term investments, net of allowance of $ 117 and $ 126 , as of September 30, 2024 and March 31, 2024, respectively 1,717 1,612 Other assets, net of allowance of $ 1 and $ 1 , as of September 30, 2024 and March 31, 2024, respectively 4,683 2,129 Total assets $ 51,960 $ 49,407 LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND SHAREHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable $ 7,330 $ 6,616 Accrued compensation and related benefits, current 2,603 3,119 Operating lease liabilities, current 1,654 2,080 Short-term borrowings 4,482 6,778 Forward purchase agreement put option liability 9,563 10,244 Other current liabilities 13,591 9,288 Total current liabilities $ 39,223 $ 38,125 Long term debt 1,514 1,440 Operating lease liabilities, noncurrent 7,209 5,615 Derivative warrant liabilities 736 1,367 Deferred tax liabilities 130 92 Other liabilities 4,462 3,948 Total liabilities $ 53,274 $ 50,587 Commitments and contingencies (Note 10) Redeemable noncontrolling interest 685 734 S

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