Aeries Technology Inc · Q3 2025 earnings

Briefing

Aeries Technology, Inc. reported a decrease in revenue and gross profit, alongside a net income, for the three months ended December 31, 2024.

Aeries Technology, Inc. reported a net income of $2,048,000 for the three months ended December 31, 2024, a significant improvement from a net loss in the prior year. However, revenue decreased by 7% to $17,607,000, and gross profit saw a substantial 33% decline. The company's financial condition is impacted by a working capital deficit and obligations under forward purchase agreements, raising substantial doubt about its ability to continue as a going concern.

• Net income for the three months ended December 31, 2024, was $2,048,000, a significant improvement from a net loss of $16,301,000 in the same period last year.
• Revenue decreased by 7% to $17,607,000 for the three months ended December 31, 2024, compared to $18,897,000 in the prior year.
• Gross profit declined by 33% to $4,042,000, with the gross profit margin decreasing by 900 basis points to 23%.
• The company reported a working capital deficit of $10,419,000 as of December 31, 2024, and faces an obligation to settle $7,500,000 in forward purchase agreement liabilities.

Headline financials

Revenue & EPS history

The Company's ability to continue as a going concern is dependent on successfully executing its mitigation plan, which includes raising additional funds, restructuring liabilities, and further reducing non-core expenses. Management is hopeful but there is no guarantee of success.