AIRO Group Stock: What the Company Does and What Drives the Shares
AIRO Group Holdings is a U.S. aerospace and defence company whose shares trade on Nasdaq under the ticker AIRO. Drones are the core of the business. They made up about 87% of revenue in 2025, according to the Q4 2025 earnings call summary on Yahoo Finance.
This profile covers the business and the stock listing. It also covers the latest results. The last published report is for Q2 2026. Q3 2026 results are due on 12 November 2026, per the company's earnings call notice on Finviz.
The information in this article is provided for educational purposes only and does not constitute financial advice. Consult a financial advisor before making investment decisions.
Table of Contents
Risk warning: The value of shares can fall as well as rise, and you may get back less than you invest. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This article is general information and should not be treated as investment advice.
What is AIRO Group?
AIRO Group Holdings is based in McLean, Virginia, with operations in the U.S. and Canada. Its drones are built in Denmark. Its founder story goes back to 2005. The current holding company was formed in 2021 through a series of mergers, as the Wikipedia profile of AIRO Group explains.
Joe Burns is the chief executive. Dr Chirinjeev Kathuria, the founder, serves as executive chairman, as named in the Q2 2026 results release.
AIRO Group key facts
| Item | Detail |
|---|---|
| Company | AIRO Group Holdings, Inc. |
| AIRO Group ticker | AIRO |
| Exchange | Nasdaq |
| AIRO Group headquarters | McLean, Virginia |
| Main segment | Drones (about 87% of 2025 revenue) |
| Listing date | First trade on 13 June 2025 |
| Index membership | Added to the Russell 2000 and Russell 3000 on 22 September 2025 |
| Last report | Q2 2026, released 13 August 2026 |
| Next report | Q3 2026, due 12 November 2026 before the U.S. open |
| Dividend | None paid |
Sources: IPOScoop, Business Wire, AIRO Q2 2026 release, Robinhood. Data as of 11 November 2026.
What does AIRO Group do and how it makes money
AIRO reports four segments. Drones lead by a wide margin. The other three units are much smaller, and one of them is under review.
AIRO Group segments
| Segment | Main unit | What it does |
|---|---|---|
| Drones | Sky-Watch (Denmark) | Makes the RQ-35 Heidrun small reconnaissance drone and the longer-range RQ-70 |
| Avionics | Aspen Avionics | Supplies flight displays and avionics for manned and uncrewed aircraft |
| Training | Coastal Defense and Agile Defense | Provides military flight training under government contracts |
| Electric Air Mobility | Jaunt Air Mobility | Develops hybrid-electric vertical take-off aircraft for cargo and surveillance |
Sources: AIRO FY2025 results, Business Wire, AIRO Q2 2026 earnings call transcript, Webull.
Who buys the products
Most sales go to NATO and allied defence customers outside the U.S. The drone backlog stood at about $163 million on 30 June 2026. All of it came from international orders, according to the Q2 2026 results release.
That mix began to change in 2026. The company announced its first U.S. government drone sale on 2 November 2026, reported by Defence Industry Europe. The buyer and the value were not disclosed.
How the company earns revenue
- Most revenue comes from deliveries of drone systems to defence customers.
- Avionics sales have been steadier, with demand described as stable in Q2 2026, per the Q2 2026 call transcript.
- Training contracts bring service income from government clients.
- The Electric Air Mobility unit is still developing its cargo and surveillance aircraft, with a first flight targeted for 2026 in the Q1 2026 results release.
Trading involves risk.
AIRO Group stock: ticker, exchange and how it is traded
The shares trade on Nasdaq in U.S. dollars. The IPO was priced at $10 on 12 June 2025, below the $14 to $16 range. Trading began the next day.
Trading snapshot
| Measure | Value | Date and time |
|---|---|---|
| Last close | $5.60 | 10 Nov 2026, 4:00 pm ET (9:00 pm UK) |
| Volume that session | 232,723 shares | 10 Nov 2026 |
| Shares outstanding | 31.56 million | StockAnalysis, checked 11 Nov 2026 |
| AIRO Group market cap | About $177 million at $5.60 | Own calculation, 10 Nov 2026 |
| Short interest | 19.36% of the float | StockAnalysis, checked 11 Nov 2026 |
| All-time low | $4.53 intraday | 26 Oct 2026 |
Source: StockAnalysis price history, StockAnalysis statistics. Past performance is not a reliable indicator of future results.
Price record since the listing
The first session was strong. The stock closed at $24 on 13 June 2025, 140% above the IPO price, after an intraday high of $39.07, as DroneLife reported. That high has not been seen since. The shares then fell for most of the period that followed.
| Period | Start | End | Change |
|---|---|---|---|
| 2021 | Not listed | Not listed | n/a |
| 2022 | Not listed | Not listed | n/a |
| 2023 | Not listed | Not listed | n/a |
| 2024 | Not listed | Not listed | n/a |
| 2025 (13 Jun to 31 Dec, partial) | $10.00 IPO price | $8.18 | -18.2% |
| 2026 (1 Jan to 10 Nov, partial) | $8.18 | $5.60 | -31.5% |
| First full 12 months (13 Jun 2025 to 12 Jun 2026) | $24.00 first close | $8.03 | -66.5% |
Sources: IPOScoop, Yahoo Finance price history, StockAnalysis. The stock has been listed for less than five years, so every full 12-month period available is shown. Past performance is not a reliable indicator of future results.
How investors usually access Nasdaq shares
Nasdaq stocks are usually bought through a share-dealing account. Some investors use derivatives, which carry extra risk. Admirals offers CFDs on shares of a range of U.S. and European companies. AIRO did not appear in that product list at the time of writing.
Newer investors often start with the basics in this guide to investing in stock markets. A demo account uses virtual funds, and results may differ from live trading.
Recent results and news
Results swing sharply from quarter to quarter. Large drone deliveries land in some quarters and miss others.
AIRO Group revenue and profit, 2024 to 2026
| Period | Revenue | Net loss | Adjusted EBITDA | Cash at period end |
|---|---|---|---|---|
| FY2024 | $86.9M | $(38.7)M | $33.7M | n/a |
| FY2025 | $90.9M (+4.6%) | $(4.1)M | $5.7M | $74.4M |
| Q1 2026 | $8.9M | $(15.5)M | $(12.8)M | $54.2M |
| Q2 2026 | $43.2M (+76% y/y) | $(2.0)M | $6.8M | $25.9M |
| H1 2026 | $52.1M (+43% y/y) | $(17.4)M | $(6.0)M | $25.9M (30 Jun 2026) |
Sources: AIRO FY2025 results, AIRO Q1 2026 results, AIRO Q2 2026 results. Past performance is not a reliable indicator of future results.
Cash rose to about $56 million on 31 July 2026 after customer payments, according to the Q2 2026 release. The release described this figure as preliminary and unaudited.
Revenue arrives in large deliveries. In Q3 2025, a delay in drone shipments cut quarterly revenue by about 73% to $6.28 million, as Dow Jones reported via Tiger Brokers.
AIRO Group guidance for 2026
Management expects 2026 revenue growth of 15% to 25%, which is roughly $104.5 million to $113.6 million on the 2025 base. Adjusted EBITDA is guided to a loss in the mid- to high-teens of millions. The company also flagged a sequential revenue drop in Q3, per the Q2 2026 call transcript. Forecasts are not a reliable indicator of future performance.
AIRO Group news in 2026
| Date | Event |
|---|---|
| 14 Jul 2026 | RQ-35 Heidrun added to the U.S. Blue UAS list |
| 13 Aug 2026 | Q2 2026 results published, with backlog at $163 million |
| 15 Oct 2026 | Supplier status on Canada's Defence Drone Initiative marketplace |
| 28 Oct 2026 | RQ-35 added to a NATO procurement framework |
| 2 Nov 2026 | First U.S. government sale of RQ-35 and RQ-70 systems |
Sources: Business Wire, AIRO release on Canada, DroneLife, Defence Industry Europe.
Two items weigh on the picture. The Training segment has been under strategic review since early 2026, with a decision promised by the end of the year. Planned joint ventures in Ukraine have stalled over licensing, according to the Q2 2026 call transcript.
AIRO Group Q3 2026 results
The Q3 2026 report is due on Thursday 12 November 2026 before the U.S. open. The call starts at 8:00 am ET, which is 1:00 pm UK time, per the call notice.
Past reports show that the shares can move sharply around results. After the Q2 report on 13 August 2026 they rose about 26%, then fell about 11% the next day, per a Finviz preview of 4 November 2026. The same preview framed the Q3 report around U.S. orders and the guided dip.
AIRO Group and the drone theme
AIRO is close to a pure drone company in revenue terms. Chief executive Joe Burns said on the Q4 2025 call that drones made up about 87% of 2025 revenue.
| Part of the business | AIRO Group drone revenue share, 2025 |
|---|---|
| Drones | About 87% |
| Avionics, Training and Electric Air Mobility combined | About 13% |
Source: Yahoo Finance. Segment figures in dollars were not published.
This makes the shares sensitive to defence budgets and drone orders. Readers comparing the sector can find a wider overview in this guide to drone company stocks.
- Most of the drone backlog comes from international defence customers.
- A place on the Blue UAS list made the RQ-35 eligible for purchase by U.S. government buyers.
- The RQ-35 is the main product, and the longer-range RQ-70 was unveiled in 2026, per the Q2 2026 call transcript.
Main competitors
AIRO is a small player next to several listed U.S. drone makers. At the IPO, Barron's compared its valuation with AeroVironment and Kratos, as DroneLife noted.
| Company | Ticker | Focus |
|---|---|---|
| AeroVironment | AVAV | Large U.S. maker of small military drones |
| Kratos Defense & Security Solutions | KTOS | Uncrewed aircraft and target drones |
| Red Cat Holdings | RCAT | Small reconnaissance drones made in the U.S. |
European makers of small drones also compete for NATO orders. Many of them are private companies.
Trading involves risk.
Risks to keep in mind
The AIRO Group stock risks below come from the company's own record. They sit alongside general market risk.
| Risk | What the record shows |
|---|---|
| Volatility | The price fell from a $39.07 intraday high to a $4.53 low in 16 months |
| Losses | Net losses in FY2024, FY2025 and H1 2026 |
| Cash use | Cash fell from $74.4M in December 2025 to $25.9M in June 2026 |
| Customer concentration | The $163M drone backlog at 30 June 2026 came only from international orders |
| Delivery timing | A shipment delay cut Q3 2025 revenue by about 73% |
| Product concentration | About 87% of revenue comes from drones |
| Export licensing | Ukrainian joint ventures stalled over licensing |
| Share sales | A $70M follow-on offering came in September 2025 |
Sources: StockAnalysis, AIRO FY2025 results, Dow Jones via Tiger Brokers, Barron's via Tiger Brokers, AIRO Q2 2026 results, Webull transcript. Past performance is not a reliable indicator of future results.
Supportive factors and pressures
| Supportive factors | Pressures |
|---|---|
| Backlog of about $163 million at 30 June 2026 | Revenue depends on a few large deliveries |
| First U.S. government sale in November 2026 | Losses continue on a net basis |
| Access to NATO and Canadian buying channels | The Training unit underperformed and is under review |
Sources: AIRO Q2 2026 results, Webull transcript, Defence Industry Europe, DroneLife, AIRO release on Canada.
A price-to-earnings ratio is not meaningful while the company makes a loss, a limit explained in this guide to the P/E ratio. The price-to-sales ratio stood at about 1.7 on 11 November 2026 on trailing revenue of $106.6 million, per StockAnalysis. Analysts often pair such ratios with cash flow, as shown in this guide to fundamental analysis.
Frequently Asked Questions
What does AIRO Group do?
AIRO Group mainly makes small reconnaissance drones for defence customers. It also sells avionics and runs flight training.
Where is AIRO Group stock traded?
AIRO Group stock trades on the Nasdaq exchange in the U.S. It has been listed there since 13 June 2025.
What is AIRO Group's ticker symbol?
The ticker symbol is AIRO. The shares are quoted in U.S. dollars and joined the Russell 2000 in 2025.
Is AIRO Group profitable?
AIRO is not profitable on a net basis. Its net loss for the first half of 2026 was $17.4 million.
When are AIRO Group's Q3 2026 results due?
Q3 2026 results are due on 12 November 2026 before the U.S. open, with a call at 8:00 am ET.
Does AIRO Group pay a dividend?
AIRO Group does not pay a dividend. It reports net losses and has not announced a dividend policy.
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Sources
- AIRO Group Q4 earnings call key points, Yahoo Finance, accessed 11 November 2026.
- AIRO Announces Third Quarter 2026 Earnings Call Details, Finviz, accessed 11 November 2026.
- AIRO Group, Wikipedia, accessed 11 November 2026.
- AIRO prices IPO at $10, IPOScoop, accessed 11 November 2026.
- AIRO Joins the Russell 2000 and Russell 3000 Indexes, Business Wire, accessed 11 November 2026.
- AIRO Reports Second Quarter 2026 Results, AIRO Group, accessed 11 November 2026.
- AIRO Group Holdings, Robinhood, accessed 11 November 2026.
- AIRO Reports Fourth Quarter and Full Year 2025 Results, Business Wire, accessed 11 November 2026.
- AIRO Q2 2026 Earnings Call Transcript, Webull, accessed 11 November 2026.
- AIRO receives first U.S. drone order for RQ-35 and RQ-70, Defence Industry Europe, accessed 11 November 2026.
- AIRO Stock Price History, StockAnalysis, accessed 11 November 2026.
- AIRO Statistics, StockAnalysis, accessed 11 November 2026.
- AIRO Group Holdings Overview, StockAnalysis, accessed 11 November 2026.
- AIRO Group stock surges after IPO, DroneLife, accessed 11 November 2026.
- AIRO Group Holdings Historical Prices, Yahoo Finance, accessed 11 November 2026.
- AIRO Reports First Quarter 2026 Results, Business Wire, accessed 11 November 2026.
- Airo Shares Hit 52-Week Low After Shipment Delay Hurts 3Q Rev, Dow Jones via Tiger Brokers, accessed 11 November 2026.
- Drone maker AIRO shares fall as it sells stock, Barron's via Tiger Brokers, accessed 11 November 2026.
- AIRO Q3 preview, Finviz, accessed 11 November 2026.
- AIRO's RQ-35 Heidrun ISR Drone Added To U.S. Blue UAS List, Business Wire, accessed 11 November 2026.
- AIRO Qualifies for Canada's Defence Drone Initiative Marketplace, AIRO Group, accessed 11 November 2026.
- NATO drone procurement and the Sky-Watch RQ-35 Heidrun, DroneLife, accessed 11 November 2026.
- AIRO vs Red Cat comparison, Danelfin, accessed 11 November 2026.
