CVUHIGH SIGNALFINANCIAL10-K

CVU experienced a sharp revenue decline coupled with substantially reduced profitability and a dramatic reduction in capital expenditures, signaling potential operational challenges.

The combination of declining revenue, compressed gross margins, and minimal capital investment suggests the company may be facing demand headwinds or operational inefficiencies in its aerospace and defense markets. The substantial increase in accounts receivable amid falling revenue raises concerns about collection issues or customer payment delays.

Comparing 2026-03-31 vs 2025-03-31View on EDGAR →
FINANCIAL ANALYSIS

CVU's financial performance deteriorated notably with revenue falling 14.6% to $69.3M while gross profit declined more severely, indicating compressed margins. The company dramatically reduced capital expenditures by over 80% to just $65K, suggesting either cash conservation measures or delayed investment plans. Despite revenue declines, accounts receivable grew meaningfully to $5.8M, creating a concerning disconnect that may indicate collection challenges or changes in customer payment terms.

FINANCIAL STATEMENT CHANGES
Capital Expenditure
Cash Flow
-83.9%
$404K→$65K

Capex reduced 83.9% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Accounts Receivable
Balance Sheet
+55.1%
$3.7M→$5.8M

Receivables surged 55.1% — revenue recognized but not yet collected; watch for collection issues or channel stuffing.

Provision for Credit Losses
P&L
-43.4%
$127K→$72K

Provisions reduced 43.4% — improving credit quality or reserve release boosting reported earnings.

Gross Profit
P&L
-38.8%
$17.2M→$10.6M

Gross margin compression — rising input costs, pricing pressure, or unfavorable product mix shift.

Total Liabilities
Balance Sheet
+17.6%
$42.0M→$49.4M

Liabilities increased 17.6% — monitor debt-to-equity ratio and interest coverage.

Revenue
P&L
-14.6%
$81.1M→$69.3M

Revenue softened 14.6% — monitor whether this is cyclical or structural.

Current Liabilities
Balance Sheet
-13%
$26.5M→$23.0M

Current liabilities reduced — improved short-term financial position and working capital health.

Inventory
Balance Sheet
-12.8%
$918K→$801K

Inventory reduced 12.8% — lean inventory management or demand outpacing supply.

Total Assets
Balance Sheet
+10.7%
$68.0M→$75.2M

Asset base grew 10.7% — expansion through organic growth, acquisitions, or capital deployment.

LANGUAGE CHANGES
NEW — 2026-03-31
PRIOR — 2025-03-31
ADDED
As of March 26, 2026, the registrant had 13,209,669 shares of common stock, $.001 par value, outstanding.
When used in this Annual Report on Form 10-K and in future filings by us with the Securities and Exchange Commission ( SEC ), the words or phrases believe , expect, anticipate, intend , plan , may, will , should, could , estimate, or similar expressions are intended to identify forward-looking statements.
We assume no obligation to revise or update any forward-looking statements for any reason except as required by law.
Except as required by applicable law, we undertake no obligation to update or revise any forward-looking statements to reflect subsequent events, changed circumstances, or changes in expectations.
( WMI ) and Compac Development Corporation, a wholly owned subsidiary of WMI (collectively, CPI Aero , the Company , us , or we ) manufactures structural assemblies, integrated systems, and kitting services for the domestic and international aerospace and defense ( A D ) markets.
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REMOVED
Employer incorporation or organization) Identification No.) 91 Heartland Blvd.
As of March 28, 2025, the registrant had 13,031,223 shares of common stock, $.001 par value, outstanding.
FORM 10-K SUMMARY 28 INDEX TO FINANCIAL STATEMENTS F-1 2 FORWARD LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
When used in this Annual Report on Form 10-K and in future filings by us with the Securities and Exchange Commission ( SEC ), the words or phrases believe , intend , plan , will , will likely result , we expect , could , will continue , anticipated , estimated or similar expressions are intended to identify forward-looking statements.
We assume no obligation to revise or update any forward looking statements for any reason except as required by law.
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