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Full AIRI fundamentals All 466 on the Survival Watch

AIRIAIR INDUSTRIES GROUP

Is Air Industries struggling financially?

Yes, by its own account. Air Industries told the SEC on 13 May 2026, in Form 10-Q, that there is substantial doubt about its ability to continue as a going concern.

Going concern disclosed May 2026

15/100

Critical

Sector
Industrial/Cyclical
Market cap
$11.9M
Source filing
10-Q 13 May 2026
Balance sheet
30 Jun 2026

Cash runway

  • 10months

    If the burn speeds up

    Empty by Apr 2027

  • 14months

    If it eases off

    Empty by Aug 2027

Both rows are the same reported burn flexed 15% either way, and neither assumes the company raises a cent.

Out of cashTwo years or more

The runway math

Cash and short-term investments

$4.6M

÷

Cash burned over the last 12 months

$4.7M

What Air Industries told the SEC

As a result of the default, the expiration dates of our Current Credit Facility and the rights that our Current Credit Facility lender could exercise, there is substantial doubt about the Company’s ability to continue as a going concern for the twelve months following the date of filing of these condensed consolidated financial statements. The terms of all outstanding indebtedness are discussed further in “Note 5. Debt”

AIR INDUSTRIES GROUP, Form 10-Q, filed 13 May 2026.

Read the filing on SEC.gov

What this means

  • Not a bankruptcy filing, and not a prediction.
  • It is the company’s own statement, agreed with its auditor, that the doubt is material enough to disclose.
  • The runway is arithmetic on two reported numbers, not a forecast. Companies carry this language for years, raise money and keep going.

What else the numbers show

  • Cash burn is increasing It is spending 144% more cash per year than it was, so the runway above shortens even if nothing else changes.
  • Debt pressure is material Operating earnings cover only -0.3x the interest bill, so the interest is being met out of cash reserves rather than out of the business.
  • 30.0% share-count increase The company issued stock. Each share now owns 23.1% less of the business than a year ago, before any change in the price.

Other Industrial/Cyclical companies that filed the doubt