Fourth Quarter 2025 vs. Fourth Quarter 2024

   -- Revenue of $19.4 million compared to $21.8 million; 
 
   -- Gross profit of $3.9 million compared to $4.3 million; 
 
   -- Gross margin of 20.3% compared to 20.0%; 
 
   -- Net income of $0.7 million compared to net income of $1.0 million; 
 
   -- Earnings per share of $0.05 compared to earnings per share of $0.08; 
 
   -- EBITDA(1) of $1.6 million compared to $2.3 million; 

Full Year 2025 vs. Full Year 2024

   -- Revenue of $69.3 million compared to $81.1 million; 
 
   -- Gross profit of $10.6 million compared to $17.2 million; 
 
   -- Gross margin of 15.2% (21.1% excluding A-10 Program impact) compared to 
      21.3%; 
 
   -- Net (loss) income of ($0.8) million compared to net income of $3.3 
      million; 
 
   -- (Loss) earnings per share of ($0.07) compared to earnings per share of 
      $0.26; 
 
   -- Adjusted EBITDA(1) of $1.0 million ($5.5 million excluding A-10 Program 
      impact) compared to $7.8 million; 
 
   -- Debt as of December 31, 2025 of $18.4 million compared to $17.4 million 
      as of December 31, 2024. 

EDGEWOOD, N.Y., March 31, 2026 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. ("CPI Aero" or the "Company") (NYSE American: CVU) today announced financial results for the three and twelve months ended December 31, 2025.

"2025 was a challenging year due to the impact of the A-10 Program termination. Nevertheless, we took decisive actions to adapt and transition to new programs in the second half of the year. In addition, we reported significant contract wins aligned with our Aerospace & Defense Programs strategy including new awards from Raytheon, Lockheed Martin, the U.S. Air Force and Sikorsky Aircraft, across multiple aerospace and defense programs," said Dorith Hakim, President and CEO.

Added Ms. Hakim, "In 2025, we also achieved significant milestones across multiple programs in support of critical defense priorities, including platforms currently in active use. And in December 2025, we refinanced our debt with Western Alliance Bank extending the maturity to December 2030, lowering our interest rate and improving other key terms of the facility. This transaction enhances our financial flexibility as we continue to execute on our backlog and transition to new programs."

Concluded Ms. Hakim, "As we move forward, we remain committed to optimizing our portfolio and delivering sustainable value to our customers and shareholders, ending the year with a strong backlog of $505 million. Looking ahead we will continue to focus on executing our backlog and building on our long-standing customer relationships."

About CPI Aero

CPI Aero is a prime contractor to the U.S. Department of Defense as well as a Tier 1 subcontractor to some of the largest aerospace and defense contractors in the world. CPI Aero provides engineering, program management, supply chain management, assembly operations and MRO services to this global network of customers. CPI Aero is recognized as a leader within the international aerospace market in such areas as aircraft structural assemblies, military advanced tactical pod structures, engine air inlets, and complex welded products.

Our OEM customers in the defense sector include Lockheed Martin Corporation/Sikorsky Aircraft, RTX Corporation, Collins Aerospace, L3Harris, Northrop Grumman Corporation and the US Air Force, for a range of military aircraft, pod structures, radar and reconnaissance systems, and other aerospace components, and in the civil aviation market include Embraer S.A. for business jet platforms.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this press release are forward-looking statements. Words such as "remain committed," "continue," and similar expressions are intended to identify these forward-looking statements. These forward-looking statements include statements regarding the Company's backlog, future opportunities and ongoing customer relationships. The Company does not guarantee that it will actually achieve the plans, intentions or expectations disclosed in its forward-looking statements and you should not place undue reliance on the Company's forward-looking statements.

Forward-looking statements involve risks and uncertainties, and actual results could vary materially from these forward-looking statements. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated or implied by its forward-looking statements, including those important factors set forth under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission. Although the Company may elect to do so at some point in the future, the Company does not assume any obligation to update any forward-looking statements and it disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

CPI Aero$(R)$ is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO.

Contacts:

 
Investor Relations Counsel    CPI Aerostructures, Inc. 
Alliance Advisors IR          Robert Mannix 
Jody Burfening                Chief Financial Officer 
(212) 838-3777                (631) 586-5200 
cpiaero@allianceadvisors.com  rmannix@cpiaero.com 
                              www.cpiaero.com 
 
 
 
             CPI AEROSTRUCTURES, INC. AND SUBSIDIARIES 
                     CONSOLIDATED BALANCE SHEETS 
 
                                      December 31,   December 31, 
                                           2025           2024 
                                      -------------  ------------- 
ASSETS 
Current Assets: 
   Cash                               $    899,199   $  5,490,963 
   Accounts receivable, net              5,764,928      3,716,378 
   Contract assets, net                 33,670,354     32,832,290 
   Inventory                               800,823        918,288 
   Prepaid expenses and other 
    current assets                       2,272,696        634,534 
                                       -----------    ----------- 
   Total Current Assets                 43,408,000     43,592,453 
 
Operating lease right-of-use assets      9,515,207      2,856,200 
Property and equipment, net                412,553        767,904 
Deferred tax asset, net                 19,894,796     18,837,576 
Goodwill                                 1,784,254      1,784,254 
Other assets                               229,691        143,615 
                                       -----------    ----------- 
Total Assets                          $ 75,244,501   $ 67,982,002 
                                       ===========    =========== 
 
LIABILITIES AND SHAREHOLDERS' EQUITY 
Current Liabilities: 
   Accounts payable                   $ 14,724,293   $ 11,097,685 
   Accrued expenses                      4,763,719      7,922,316 
   Contract liabilities                  1,628,382      2,430,663 
   Loss reserve                            138,426         22,832 
   Current portion of line of credit            --      2,750,000 
   Current portion of long-term debt       187,500         26,483 
   Operating lease liabilities           1,434,385      2,162,154 
   Income taxes payable                    142,540         58,209 
                                       -----------    ----------- 
   Total Current Liabilities            23,019,245     26,470,342 
 
Line of credit, net of current 
 portion                                 8,373,672     14,640,000 
Long-term operating lease 
 liabilities                             8,353,120        938,418 
Long-term debt, net of current 
portion                                  9,690,890             -- 
                                       -----------    ----------- 
Total Liabilities                       49,436,927     42,048,760 
                                       -----------    ----------- 
 
Commitments and Contingencies (see 
note 15) 
   Shareholders' Equity: 
Preferred stock - $.001 par value; 
authorized 5,000,000 shares, 0 
shares, issued and outstanding                  --             -- 
Common stock - $.001 par value; 
 authorized 50,000,000 shares, 
 13,155,061 and 12,978,741 shares, 
 respectively, issued and 
 outstanding                                13,155         12,979 
Additional paid-in capital              75,142,168     74,424,651 
   Accumulated deficit                 (49,347,749)   (48,504,388) 
                                       -----------    ----------- 
   Total Shareholders' Equity           25,807,574     25,933,242 
                                       -----------    ----------- 
   Total Liabilities and 
    Shareholders' Equity              $ 75,244,501   $ 67,982,002 
                                       ===========    =========== 
 
 
 
CPI AEROSTRUCTURES, INC. AND SUBSIDIARIES 
 CONSOLIDATED STATEMENTS OF OPERATIONS 
 
Years ended December 31, 2025 and 2024 
                                            2025          2024 
Revenue                                 $69,262,124   $81,078,864 
 
Cost of sales                            58,706,055    63,840,803 
 
Gross profit                             10,556,069    17,238,061 
 
Selling, general and administrative 
 expenses                                10,732,451    10,506,439 
Income (loss) from operations              (176,382)    6,731,622 
 
   Interest expense                      (1,567,840)   (2,288,834) 
Income (loss) before benefit 
 (provision) for income taxes            (1,744,222)    4,442,788 
 
Benefit (provision) for income taxes        900,861    (1,143,454) 
Net income (loss)                       $  (843,361)  $ 3,299,334 
 

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