Executive Summary
Aeries Technology Inc reported QQ1 2026 revenue of $15.33 million, a year-over-year decline of 8.0% and a quarter-over-quarter drop of 19.5%. Despite the topline softness, the company delivered a positive operating income of $0.82 million (5.3% margin) and EBITDA of $2.38 million (EBITDA margin of 15.5%), underscoring a disciplined cost structure and favorable mix in a challenging quarter. Net income stood at $1.51 million, yielding a net margin of 9.86% and earnings per share of $0.0321. The bottom line was helped by a sizable contribution from other income of $1.19 million, with a modest tax expense of $0.33 million, resulting in meaningful YoY and QoQ net income expansion despite weaker revenue performance.
The quarterly results illustrate a profitability-led narrative rather than topline growth. The notable sequential improvement in bottom-line profitability, together with stable gross margins around the mid-20% range, suggests ongoing leverage from a lean cost base and project mix. Absent the non-operating income tailwind, the company would face tighter margins given the revenue decline. Management commentary (where available in the dataset) points to pipeline activity in private-equity-backed transformation initiatives and broader digital advisory opportunities, but no explicit forward guidance is provided in the data. Investors should monitor deal conversion velocity, client mix, and the sustainability of non-operating income when assessing the trajectory into 2H 2026.
Key Performance Indicators
QoQ: -19.53% | YoY:-8.02%
QoQ: -25.82% | YoY:-5.79%
QoQ: 126.47% | YoY:104.99%
QoQ: 126.27% | YoY:110.20%
QoQ: 132.69% | YoY:108.23%
Key Insights
Revenue: $15.33 million; YoY change: -8.02%; QoQ change: -19.53%
Gross Profit: $3.778 million; Gross Margin: 24.64%
Operating Income: $0.82 million; Operating Margin: 5.35%
EBITDA: $2.382 million; EBITDA Margin: 15.54%
Total Other Income/Expenses Net: $1.187 million
Income Before Tax: $2.007 million; Pre-tax Margin: 13.09%
Income Tax Expense: $0.331 million
Net Income: $1.512 million; Net Margin: 9.86%
EPS: $0.0321; Diluted EPS: $0.0321
Weighted Average Shares Outstanding (GAAP): 47,152,626...
Financial Highlights
Revenue: $15.33 million; YoY change: -8.02%; QoQ change: -19.53%
Gross Profit: $3.778 million; Gross Margin: 24.64%
Operating Income: $0.82 million; Operating Margin: 5.35%
EBITDA: $2.382 million; EBITDA Margin: 15.54%
Total Other Income/Expenses Net: $1.187 million
Income Before Tax: $2.007 million; Pre-tax Margin: 13.09%
Income Tax Expense: $0.331 million
Net Income: $1.512 million; Net Margin: 9.86%
EPS: $0.0321; Diluted EPS: $0.0321
Weighted Average Shares Outstanding (GAAP): 47,152,626
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
15.33M |
-8.02% |
-19.53% |
| Gross Profit |
3.78M |
-5.79% |
-25.82% |
| Operating Income |
820.00K |
104.99% |
126.47% |
| Net Income |
1.51M |
110.20% |
126.27% |
| EPS |
0.03 |
108.23% |
132.69% |
Management Commentary
Transcript data not provided in the input. Consequently, no management quotes or call-specific themes can be extracted. If a transcript or call transcript excerpts are supplied, I will segment insights by themes (strategy, operations, market conditions) and attach direct quotes with context and significance.
Transcript not available.
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Forward Guidance
No explicit forward guidance is included in the provided data. In a qualitative view, the near-term trajectory for AERTW will hinge on the conversion of existing pipeline opportunities in private-equity sponsored projects and digital transformation engagements. Potential drivers include expanded cross-selling into ERP/CRM and IT security offerings, and improved utilization of consulting resources to sustain or modestly elevate gross margins. Risks to the outlook include ongoing macro uncertainty, project delays, client concentration effects, and the potential variability of non-operating income that currently contributed to the bottom line. Investors should monitor pipeline visibility, deal conversion rate, client mix, and any changes to non-operating income that could materially affect net results.