Aeries Technology reported fiscal year 2026 revenue of $70.0 million, essentially flat year over year, but delivered a sharp profitability turnaround. Net income improved to $3.5 million from a loss of $21.6 million, helped by a major reduction in selling, general and administrative expenses.
Adjusted EBITDA rose to $8.3 million, with Adjusted EBITDA margin expanding to 11.9% from negative 6.6% in fiscal 2025. Operating cash flow was $6.8 million, marking a fourth consecutive quarter of positive operating cash generation, and cash and equivalents increased to $4.9 million. The company reiterated its fiscal 2027 outlook and highlighted ongoing GCC-led growth, AI-enabled automation initiatives and expanded delivery in Mexico.
Aeries Technology, Inc. outlines its GCC-focused consulting business while disclosing substantial doubt about its ability to continue as a going concern. As of March 31, 2026, shareholders’ equity showed a $3.0 million deficit and working capital was negative $6.8 million.
The company faces up to $4.3 million in obligations under Forward Purchase Agreements and $4.4 million of short-term borrowings. Non-renewals from significant customers are expected to cut annual revenue by about $9.7 million, partially offset by one-time buyout payments totaling $4.3 million.
Aeries reported $4.9 million in cash, net operating cash inflow of $6.8 million, and net profit of $3.5 million for the year ended March 31, 2026, but warns that failure to secure new funding or restructure liabilities could force asset sales and potential loss of investor capital.
Aeries Technology, Inc. reported that on March 31, 2026 it received a formal notice from Nasdaq staff that its continued non-compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) could result in delisting of its securities from the Nasdaq Capital Market.
The company plans to request a hearing before the Nasdaq Hearings Panel, which would temporarily stay further Nasdaq action while the Panel reviews the case. A previous grace period to regain compliance, granted after a September 30, 2025 deficiency notice, expired on March 30, 2026 without the company restoring its bid price to required levels.
Aeries is not eligible for an additional 180‑day grace period because it does not meet the minimum stockholders’ equity requirement for initial listing on the Nasdaq Capital Market. The company states it is considering all available options but notes there is no assurance the Panel will allow its listing to continue or that it will meet listing standards within any extension granted.
Aeries Technology, Inc. reported leadership changes focused on technology and finance oversight. On March 26, 2026, Chief Technology Officer Unnikrishnan (Unni) Balakrishnan Nambiar resigned from the CTO role effective March 31, 2026 to take a leadership position at the company’s wholly owned Indian subsidiary.
On the same date, the Board appointed Bhisham (Ajay) Khare, currently Chief Executive Officer, Principal Financial Officer and Director, to also serve as Principal Accounting Officer, effective March 31, 2026. The company states he entered into no new material agreement for this role and discloses no related-party or family relationships requiring additional reporting.
Aeries Technology, Inc. announced a chief financial officer transition. Daniel S. Webb agreed to resign as Chief Financial Officer and Chief Investment Officer effective March 30, 2026, with the company stating the departure is by mutual agreement and not due to any disagreement over operations, policies, or practices.
Under a Separation Agreement, Mr. Webb will receive severance equal to 12 months of his annual base salary paid over 12 months and an additional $265,000 paid over six months, subject to a release of claims and other conditions. He also relinquishes all rights to any company equity or equity-based awards. After a seven-day revocation period, benefits become effective.
Effective March 31, 2026, the Board appointed Chief Executive Officer and Director Bhisham (Ajay) Khare as Principal Financial Officer, adding financial oversight to his existing leadership roles. The company states he entered into no new material compensation arrangements in connection with this appointment and discloses no related-party transactions or family relationships.
Aeries Technology is registering the resale of up to 1,355,906 Class A ordinary shares. The resale is by Sandia Investment Management LP and is a resale registration only; the company will receive no proceeds from sales under this prospectus. The registration references 50,209,716 Class A ordinary shares issued and outstanding as of March 12, 2026.
The prospectus discloses certain recent amendments with Sandia, including an Outstanding Amount of $1,812,063.23 under the Letter Agreement, amortization payments beginning March 31, 2026, and an interest accrual at 15% per annum. The selling shareholder may sell the registered shares from time to time through market or private transactions under the plan of distribution described in the prospectus.
Aeries Technology, Inc. reported results from its 2026 Annual General Meeting, where shareholders approved all five resolutions, including the election of four directors and ratification of Manohar Chowdhry & Associates as auditor for the fiscal year ended March 31, 2026.
Shareholders also approved share consolidation resolutions authorizing a potential reverse split of Class A ordinary shares at a ratio of up to one-for-ten. The company stated it does not intend to implement a share consolidation in the near term, while the Board retains authority to do so before the next annual meeting.
The company highlighted continued focus on operational performance and referenced a $5.0 million Class A share repurchase program authorized on March 2, 2026, to be used from time to time at management’s discretion.
Aeries Technology, Inc. announced that its Board of Directors has authorized a share repurchase program for up to $5.0 million of its outstanding Class A ordinary shares over a twelve‑month period.
Repurchases may occur at management’s discretion through open market purchases, privately negotiated transactions, accelerated share repurchase programs, or other legally permissible methods. The program does not require the company to buy a specific number of shares and can be suspended, modified, or discontinued at any time. The Board states this authorization reflects confidence in Aeries’ strategy, operating trajectory, and long‑term growth opportunities, and views it as a flexible tool for capital allocation and supporting long‑term shareholder value.
Aeries Technology, Inc. reported third quarter fiscal 2026 results for the period ended December 31, 2025 and raised its profit outlook. Revenue for the quarter was $17.46 million, slightly below $17.61 million a year earlier, while net income attributable to shareholders was $1.08 million, or $0.02 per share.
Adjusted EBITDA for the quarter improved to $2.46 million, with a 14.1% adjusted EBITDA margin, compared with negative $2.04 million and an (11.6%) margin a year ago. For the first nine months, operating cash flow was $4.76 million, marking a third consecutive quarter of positive operating cash generation.
Based on year-to-date performance, Aeries increased its full-year fiscal 2026 adjusted EBITDA guidance to $7–8 million, versus prior guidance of $6–8 million, and issued a fiscal 2027 outlook for revenue of $80–84 million and adjusted EBITDA of $10–12 million, citing margin expansion, operating leverage, and momentum in Global Capability Center engagements.
Aeries Technology, Inc. filed its quarterly report for the period ended December 31, 2025. Revenue was broadly flat, at $17.46M for the quarter and $50.15M for the nine months, compared with $17.61M and $51.15M a year earlier.
The company swung to nine‑month net income of $3.56M versus a prior‑year loss of $15.58M, helped by lower operating expenses and favorable fair‑value movements on financial instruments. Operating cash flow improved to $4.76M from a $1.87M outflow, though cash on hand remained modest at $2.57M.
Despite improved profitability, Aeries reported a shareholders’ deficit of $1.19M and disclosed conditions that raise substantial doubt about its ability to continue as a going concern, mainly tied to potential cash settlement of forward purchase agreement liabilities. Management is pursuing financing, liability restructuring, cost reductions and has put in place an at‑the‑market share sales program, but notes there is no guarantee these measures will succeed.