CPI Aerostructures Files 10-Q for Q2 2025

TL;DR

CPI Aero's Q2 2025 10-Q is in. Financials and operations detailed.

AI Summary

CPI Aerostructures Inc. filed its 10-Q for the period ending June 30, 2025. The filing details financial performance and operational updates for the second quarter of 2025. Key financial figures and business segments are presented, reflecting the company's ongoing activities in the aerospace manufacturing sector.

Why It Matters

This filing provides investors and analysts with the latest financial health and operational performance of CPI Aerostructures, crucial for understanding its market position and future prospects in the aerospace industry.

Risk Assessment

Risk Level: medium — As a publicly traded company in the manufacturing sector, CPI Aerostructures faces inherent market, operational, and financial risks detailed in its SEC filings.

Key Players & Entities

• CPI AEROSTRUCTURES INC (company) — Filer
• 20250630 (date) — Period of Report
• 20250819 (date) — Filing Date
• 112520310 (company) — EIN
• NY (location) — State of Incorporation
• 1231 (date) — Fiscal Year End
• 001-11398 (company) — SEC File Number

FAQ

Key Financial Figures

• $0.001 — ge on which registered Common stock, $0.001 par value per share CVU NYSE American
• $4.0 million — $ ( 1,358,178 ) The net adjustment of $4.0 million for the three months ended June 30,2025
• $2.3 million — imarily by an unfavorable adjustment of $2.3 million associated with the termination of our
• $1.7 million — ditional net unfavorable adjustments of $1.7 million were driven primarily by the Next Gener
• $7.1 million — material costs. The net adjustment of $7.1 million for the six months ended June 30, 2025
• $4.5 million — imarily by an unfavorable adjustment of $4.5 million associated with the termination of our
• $2.6 million — ditional net unfavorable adjustments of $2.6 million were driven primarily by the NGJ Mid-Ba

Filing Documents

• cpi-10q_063025.htm (10-Q) — 775KB
• ex10-1.htm (EX-10.1) — 19KB
• ex10-2.htm (EX-10.2) — 44KB
• ex31-1.htm (EX-31.1) — 9KB
• ex31-2.htm (EX-31.2) — 8KB
• ex32-1.htm (EX-32.1) — 5KB
• cpi10q001.jpg (GRAPHIC) — 5KB
• 0001999371-25-011679.txt ( ) — 4097KB
• cvu-20250630.xsd (EX-101.SCH) — 34KB
• cvu-20250630_cal.xml (EX-101.CAL) — 52KB
• cvu-20250630_def.xml (EX-101.DEF) — 100KB
• cvu-20250630_lab.xml (EX-101.LAB) — 245KB
• cvu-20250630_pre.xml (EX-101.PRE) — 201KB
• cpi-10q_063025_htm.xml (XML) — 580KB

- Financial Information

Part I - Financial Information 1

– Consolidated Financial Statements (Unaudited)

Item 1 – Consolidated Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets as of June 30, 2025 (Unaudited) and December 31, 2024 1 Condensed Consolidated Statements of Operations for the Three and Six months ended June 30, 2025 and 2024 (Unaudited) 2 Condensed Consolidated Statements of Shareholders' Equity for the Three and Six months ended June 30, 2025 and 2024 (Unaudited) 3 Condensed Consolidated Statements of Cash Flows for the Six months ended June 30, 2025 and 2024 (Unaudited) 4 Notes to Condensed Consolidated Financial Statements (Unaudited) 5

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

Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations 14

– Quantitative and Qualitative Disclosures About Market Risk

Item 3 – Quantitative and Qualitative Disclosures About Market Risk 20

– Controls and Procedures

Item 4 – Controls and Procedures 20

- Other Information

Part II - Other Information 21

– Legal Proceedings

Item 1 – Legal Proceedings 21

– Risk Factors

Item 1A – Risk Factors 21

– Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 21

– Defaults Upon Senior Securities

Item 3 – Defaults Upon Senior Securities 21

– Mine Safety Disclosures

Item 4 – Mine Safety Disclosures 21

– Other Information

Item 5 – Other Information 21

– Exhibits

Item 6 – Exhibits 21

Signatures

Signatures 22 Part I - Financial Information Item 1 - Consolidated Financial CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2025 (Unaudited) December 31, 2024 ASSETS Current Assets: Cash $ 674,481 $ 5,490,963 Accounts receivable, net 6,054,015 3,716,378 Contract assets, net 31,027,022 32,832,290 Inventory 1,025,172 918,288 Prepaid expenses and other current assets 541,084 634,534 Total Current Assets 39,321,774 43,592,453 Operating lease right-of-use assets 10,220,405 2,856,200 Property and equipment, net 643,476 767,904 Deferred tax asset, net 20,153,104 18,837,576 Goodwill 1,784,254 1,784,254 Other assets 132,954 143,615 Total Assets $ 72,255,967 $ 67,982,002 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $ 15,179,687 $ 11,097,685 Accrued expenses 4,727,857 7,922,316 Contract liabilities 1,896,936 2,430,663 Loss reserve 70,137 22,832 Current portion of line of credit 3,000,000 2,750,000 Current portion of long-term debt 10,822 26,483 Operating lease liabilities, current 1,367,604 2,162,154 Income taxes payable 2,348 58,209 Total Current Liabilities 26,255,391 26,470,342 Line of credit, net of current portion 13,140,000 14,640,000 Long-term operating lease liabilities 9,087,405 938,418 Total Liabilities 48,482,796 42,048,760 Commitments and Contingencies (see note 11) — Shareholders' Equity: Common stock - $ .001 par value; authorized 50,000,000 shares, 12,978,259 and 12,978,741 shares, respectively, issued and outstanding 12,978 12,979 Additional paid-in capital 74,913,464 74,424,651 Accumulated deficit ( 51,153,271 ) ( 48,504,388 ) Total Shareholders' Equity 23,773,171 25,933,242 Total Liabilities and Shareholders' Equity $ 72,255,967 $ 67,982,002 See Notes to Condensed Consolidated Financial Statements 1 CONDENSED CONS

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