CPI Aerostructures Inc. reported third quarter 2025 revenue of $19.3 million, nearly unchanged from $19.4 million in the same period of 2024. Gross profit rose to $4.3 million from $4.2 million, with gross margin increasing to 22.3% from 21.7%. Net income was $1.1 million, up from $0.7 million, and earnings per share were $0.09 compared to $0.06. EBITDA reached $1.9 million, up from $1.7 million. For the first nine months of 2025, revenue was $49.8 million, down from $59.3 million in 2024. Gross profit declined to $6.6 million from $12.9 million, and gross margin decreased to 13.3% from 21.7%, or 20.4% excluding the A-10 Program impact. The company reported a net loss of $1.5 million compared to net income of $2.3 million in the prior year, and a loss per share of $0.12 versus earnings of $0.19. Adjusted EBITDA was negative $0.6 million, or $3.9 million excluding the A-10 Program impact, compared to $5.5 million previously. Debt as of September 30, 2025, was $15.9 million, down from $18.2 million a year earlier. During the period, CPI Aerostructures received an award from Raytheon to manufacture structural missile wing assemblies, with deliveries starting in 2026. The company's backlog was $509 million as of September 30, 2025.