Air T's FY2026 results show Rex-driven growth and major M&A catalysts
Jun 29, 2026, 9:33 AM EDT1 sourcesAI-analyzed
Why it may matterVerify against the original reporting
Exhibit of revenue growth and a large non-cash gain can support multiple expansion; key near-term question is integration success and cadence of Rex-related synergies, with further upside if Arena/Crestone deal closes smoothly. History shows one-time gains can inflate short-term EPS; investors will focus on cash flow, margin stabilization, and integration milestones.
AI summary
What happened, with direct paths to the underlying reporting
Air T, Inc. reported fiscal 2026 revenue of $327.1 million, up 12% aided by the Rex acquisition, which contributed $55.3 million. GAAP net income benefited from a $111.2 million non-cash bargain purchase gain tied to Rex, while Adjusted EBITDA rose to $10.1 million. Management asserts the Rex integration and Crestone’s Arena merger will meaningfully transform the balance sheet and shareholder value over time.
FY2026 revenue $327.1M, up 12%; Rex acquisition adds $55.3M.
Operating loss $11.2M; prior-year $1.9M; includes $111.2M non-cash Rex gain.
Adjusted EBITDA $10.1M, up from $7.4M; Rex contributions aid improvement.
Rex acquisition and Crestone-Arena merger could transform balance sheet and cash flow.
Regional Airline revenue $55.3M; EBITDA under $0.1M due to acquisition-related add-backs.
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