Airo Group Holdings, Inc. · NASDAQ:AIRO
Airo — Q2 2025 Earnings Presentation
20 slides from Airo's earnings presentation, Aug 14, 2025
Slide 1: Q2 2025 Earnings Presentation
Q2 2025 EARNINGS PRESENTATION AUGUST 14, 2025
Slide 2: Disclaimer and Forward-Looking Statements
Disclaimer and Forward-Looking Statements Forward-Looking Statements This presentation and accompanying statements contain forward-looking statements that are subject to risks and uncertainties. All statements contained in this presentation and the accompanying oral commentary, other than statements
Slide 3: I. Company Overview
I. Company Overview 3
Slide 4: AIRO Mission Statement
AIRO Mission Statement Technologically Differentiated Platform Four Complementary Segments • Growth-oriented air mobility, autonomy and aerospace platform Drones Avionics Training Electric Air Mobility • Differentiated technologies and capabilities dynamically address high growth markets across the
Slide 5: Interconnected Platform with Cross-Platform Benefits
Interconnected Platform with Cross-Platform Benefits Electric Air Mobility Drones • Shared platform technologies with Drones • Testbed for military and commercial drone product R&D • Captive OE platform for Avionics • Expands Training scope to include drone services • Flight pathway to train new pil
Slide 6: Well-Diversified Set of Business Segments
Well-Diversified Set of Business Segments Drones Avionics Training Electric Air Mobility Drone Systems & Services Electronic Aircraft Systems Military & Commercial Training Innovative Electric Aircraft • Military, commercial and dual-use systems • Navigation • Close air support • Next-generation eVT
Slide 7: II. Q2 2025 Business & Financial Highlights
II. Q2 2025 Business & Financial Highlights 7
Slide 8: Q2 2025 Business Highlights
Q2 2025 Business Highlights U.S. Manufacturing Expansion New Training Contracts New Middle-Mile Cargo Drone • Announced plans to establish a • Concluded 90-day training mission • Unveiled next-generation cargo new U.S. manufacturing and for Naval Special Warfare and drone capable of transporting eng
Slide 9: NATO Planning to Significantly Increase Defense Spending
NATO Planning to Significantly Increase Defense Spending Today Tomorrow • NATO countries currently commit at least 2% of their • NATO has signaled that it will increase its defense GDP to defense spending, which was a target set more spending benchmark from its current 2% of GDP target than a decade
Slide 10: Preparing For U.S. Market Entry
Preparing For U.S. Market Entry U.S. Market Expansion Plan Extensive Government Relationships • In process of manufacturing the RQ-35 Heidrun in the U.S. ✓ Key contacts within the U.S. government to obtain Blue UAS certification. ✓ Strong relationships with regulatory agencies ‒ Demonstrated the RQ-
Slide 11: Key Priorities for H2-2025
Key Priorities for H2-2025 Key Priorities For H2-2025 I. Complete Blue UAS certification and expand U.S. drone production II. Convert bookings in progress to revenue with continued program delivery III. Advance strategic partnerships, particularly in Training and Electric Air Mobility IV. Maintain d
Slide 12: Q2 2025 Financial Results
Q2 2025 Financial Results Three Months Ended Period Over Period Change Commentary ($ in M) Q2-25 Q2-24 ($) (%) Increase largely driven by strong sales in Drones, with Revenue $24.6 $9.8 +14.8 +151.0% continued success of market entry strategies that target NATO member countries Gross margin improvem
Slide 13: Revenue Mix by Segment
Revenue Mix by Segment Quarterly Revenue by Segment Key Highlights Drones • Strong start for H1-25, driven by continued $39.7 Avionics strength in Drones and Training 1.0 1.4 Training ‒ Increased shipments from NATO countries ‒ Special government ground target vehicle training contract $24.6 • Softe
Slide 14: Current Liquidity
Current Liquidity Cash & Cash Equivalents Cash & Cash Equivalents $40.3 $20.7 $13.5 $8.1 $8.8 $5.1 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Strong cash position and balance sheet following the company’s IPO in June 2025 14
Slide 15: Strong Revenue Visibility Across Core Businesses
Strong Revenue Visibility Across Core Businesses Majority of revenues are supported by a robust backlog and contracts underpinned by growing demand and government spending. Drones Training Backlog / Contract $200M+ Bookings in Process(1) $1.6B+ in Available CAS IDIQ Contracts(2) Visibility 12-18 Mon
Slide 16: Questions & Answers
QUESTIONS & ANSWERS
Slide 17: III. Appendix
III. Appendix 17
Slide 18: Q2 2025 Quarter-to-Date Performance
Q2 2025 Quarter-to-Date Performance Three Months Ended Period Over Period Change ($ in M) June 30, 2025 June 30, 2024 ($) (%) Revenue 24.6 9.8 14.8 151.0% Cost of Revenue 9.5 4.0 5.5 137.6% Gross Profit 15.0 5.8 9.3 160.3% Research and Development 4.1 3.2 0.9 29.8% Sales and Marketing 1.8 1.4 0.3 24
Slide 19: Q2 2025 Year-to-Date Performance
Q2 2025 Year-to-Date Performance Six Months Ended Period Over Period Change ($ in M) June 30, 2025 June 30, 2024 ($) (%) Revenue 36.3 23.5 12.8 54.5% Cost of Revenue 14.4 9.3 5.1 55.3% Gross Profit 22.0 14.3 7.7 54.0% Research and Development 7.8 6.3 1.5 23.0% Sales and Marketing 3.2 2.7 0.5 20.0% G
Slide 20: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation Three Months Ended Six Months Ended ($ in M) June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Net (Loss) / Income 5.9 (5.6) 3.9 (7.6) Depreciation & Amortization 3.0 3.1 6.1 6.3 Income Tax Expense 2.1 0.4 2.3 1.4 Interest Expense, Net 8.0 1.0 9.3 1.2 EBITDA 18.9