Revenue Growth and Profitability
Second quarter revenue increased by 18% to $43.1 million compared to $36.5 million in Q2 of 2024. For the first 6 months of 2025, revenue grew by 21% to $85.2 million. Gross profit increased by 35% and gross margin expanded by 320 basis points to 25.1%. Adjusted EBITDA increased by 41.9% to $6.1 million, with a notable adjusted EBITDA margin improvement from 11.9% to 14.0%.
Long-term Agreements and Backlog Growth
Long-term agreement value and backlog expanded by $85 million to $524 million, reflecting both new contract wins and continued customer base expansion. This includes a major win with a cargo carrier valued at $40 million to $55 million.
Operational Flexibility and Cash Flow
Operational flexibility allowed TAT to offset softer MRO volumes by capitalizing on trading opportunities, resulting in approximately $7 million in positive cash flow from operations in the quarter.
Successful Public Offering
Completed a successful public offering, raising $45 million and increasing financial flexibility to pursue potential accretive acquisitions and enhance growth profile.