Aeries swings to profit, remediates control weaknesses, but faces $10M customer losses

Filed June 8, 2026 · Period ending March 31, 2026 · Compared to 10-K Jul 2, 2025 · ~2 min read

Key Changes

• high

  Company returned to profitability with $3.5M net income vs. $19.7M loss prior year, driven by 72% reduction in SG&A expenses and positive $6.8M operating cash flow (first positive year on record).

  MD&A: Financial Results verify on EDGAR →
• high

  Two major customers terminated contracts effective Sept 2025 and June 2026, eliminating $9.7M in annual revenue ($4.0M + $5.7M), partially offset by $4.3M in one-time buyout payments.

  MD&A: Customer Non-Renewals verify on EDGAR →
• high

  Management remediated previously-disclosed material weaknesses in internal controls; disclosure controls and internal control over financial reporting now deemed effective as of March 31, 2026.

  Controls & Procedures verify on EDGAR →