The sharp Q4 rebound and strong 2026 guidance suggest accelerating execution; monitor drone backlog conversion and margin trends in upcoming quarters. The $150M backlog provides near-term revenue visibility.
Price Chart
Executive Summary
AIRO reported full-year 2025 revenue of $90.9M, up from $86.9M in 2024, with a strong Q4 rebound to $48.3M after a delayed shipment in Q3. The company achieved break-even net income in Q4 and guided for 15%-25% revenue growth in 2026, supported by a $150M drone backlog.
Key Financial Metrics
Key Facts
- Full-year 2025 revenue was $90.9 million, up from $86.9 million in 2024
- Q4 2025 revenue surged to $48.3 million (from $6.3M in Q3), beating consensus of $16.6M
- Net loss for full year 2025 was $4.1M, a significant improvement from $38.7M in 2024
- Q4 2025 net loss was $0.04M (effectively break-even), compared to $0.755M loss in prior year
- Company guided for 15%-25% year-over-year revenue growth in 2026 with $150M in drone backlog
- Executed JV with Nord Drone Group and signed LOI with Bullet for interceptor drones
Financial Impact
Revenue grew 4.6% YoY to $90.9M with Q4 revenue up 21.6% YoY and 665% QoQ. Net loss narrowed sharply from $38.7M to $4.1M. 2026 revenue growth guidance of 15%-25% implies $104.5M-$113.6M in revenue.
Risk Factors
- Adjusted EBITDA declined to $5.7M in 2025 from $33.7M in 2024 due to increased investments
- Gross margin declined to 59.9% in 2025 from 67.1% in 2024 due to product mix and development costs
- Revenue recognition remains lumpy due to government contract timing
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-013757 |
| Document: form8-k.htm | 0001493152-26-013757 |
| Document: 0001493152-26-013757-index-headers.html | 0001493152-26-013757 |
| Document: 0001493152-26-013757-index.html | 0001493152-26-013757 |
| Document: 0001493152-26-013757.txt | 0001493152-26-013757 |
| 8-K Data (Synthetic) | 0001493152-26-013757 |
Track record builds as more directional reports settle.
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