Business
Innovative Aerosystems Reports Second Quarter Fiscal 2026 Results
EXTON, Pa.--(BUSINESS WIRE)-- Innovative Solutions & Support, Inc. (Nasdaq: ISSC) dba Innovative Aerosystems and its subsidiaries (“IA”) or the "Company", a
About this update from Innovative Solutions And Support, Inc.
[{"type":"text","content":" EXTON, Pa.--(BUSINESS WIRE)--\nInnovative Solutions & Support, Inc. (Nasdaq: ISSC) dba Innovative Aerosystems and its subsidiaries (“IA”) or the \"Company\", a leading provider of advanced avionic solutions for commercial, business, and military aviation markets, today announced its fiscal 2026 second quarter financial results for the three-month period ended March 31, 2026.\n\n\nSECOND QUARTER FISCAL 2026 HIGHLIGHTS\n\n\n(all comparisons versus the prior year period)\n\n\n\nNet sales of $22.4 million, +2.0%\n\n\n\nGross profit of $11.4 million; gross margin of 51.1%\n\n\n\nNet Income of $3.4 million, or $0.19 per diluted share\n\n\n\nAdjusted Net Income(1) of $4.8 million, or $0.26 per diluted share\n\n\n\nEBITDA(1) of $5.9 million; Adjusted EBITDA(1) of $6.8 million\n\n\n\nOperating cash flow of $2.3 million, +78%\n\n\n\nFree cash flow(1) of $0.7 million\n\n\n\nRatio of Net Debt to trailing twelve-month Adjusted EBITDA(1) of 1.7x as of March 31, 2026\n\n\n\nCompleted three acquisitions supporting the Company’s growth initiatives\n\n\n\n\n\n(1)\n\n\n\n\n\n\nThis release includes non-GAAP financial measures, including Adjusted Net Income, Adjusted Net Income Per Share, EBITDA, Adjusted EBITDA, Free Cash Flow, and Net Debt. Descriptions of these measures and reconciliations of these measures to the most directly comparable GAAP financial measures are provided in the appendix of this release\n\n\n\n\n\n\n\nMANAGEMENT COMMENTARY\n\n\n“Our positive business momentum carried into the fiscal second quarter, highlighted by significant organic growth in our commercial aerospace and business aviation markets, continued strength in bookings, strong margin realization, and efficient free cash flow conversion,” stated Shahram Askarpour, President and Chief Executive Officer of Innovative Aerosystems.\n\n\n“In recent months, we’ve completed three acquisitions that, in combination, further expand our base of recurring, high-value aftermarket revenue across legacy and next-generation aviation platforms,” continued Askarpour. “In February, we acquired autopilot product line technology from Moog, serving to expand our flight controls portfolio. In April, we announced two separate asset purchase and licensing agreements with Honeywell that strengthen our integrated cockpit avionics platform, while enhancing our capabilities within aircraft elect...