Home / Going-concern warnings / AIRO Group Holdings, Inc.
Filed 2025-11-14 路 Form 10-Q 路 Accession 0001493152-25-023461 micro
Price before filing: $12.75 (2025-11-13 close, split/dividend-adjusted)
Market cap at flag: $239.1M (2025-11-14) 路 Latest: $166.6M (2026-10-16)
| Window | AIRO | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -37.6% | +1.3% | -38.9% | 2025-12-15 |
| 90 days | -28.5% | +1.7% | -30.2% | 2026-02-12 |
| 180 days | -38.6% | +11.1% | -49.7% | 2026-05-13 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 4 insiders sold $19.7M (6 sales)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-09-12 | Burns Joseph D Chief Executive Officer, Director, 10% owner | Sale | 179,800 | $17.39 | $3.1M | no | Form 4 |
| 2025-09-12 | KATHURIA CHIRINJEEV Executive Chairman, Director, 10% owner | Sale | 103,733 | $17.39 | $1.8M | no | Form 4 |
| 2025-09-12 | KATHURIA CHIRINJEEV Executive Chairman, Director, 10% owner | Sale | 405,634 | $17.39 | $7.1M | no | Form 4 |
| 2025-09-12 | New Generation Aerospace, LLC 10% owner | Sale | 405,634 | $17.39 | $7.1M | no | Form 4 |
| 2025-09-12 | Uczekaj John President and COO, Director | Sale | 2,225 | $17.39 | $39K | no | Form 4 |
| 2025-09-12 | Uczekaj John President and COO, Director | Sale | 35,900 | $17.39 | $624K | no | Form 4 |
| 2025-11-14: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-08-16 to 2025-12-14. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"As of March 31, 2025, the Company had incurred recurring losses from operations and negative cash flows, which raised substantial doubt about its ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2025-09-30)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
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