AEVEX Corp. (NYSE: AVEX) announced financial results for the third quarter ended September 30, 2026, reporting a significant increase in total revenue driven by the acquisition of BlackSea Technologies. The company reported total revenue of $189.7 million for the quarter, representing a 56.5% increase compared to $121.2 million in the same period in 2025.
The company recorded a net loss of $16.8 million for the third quarter of 2026, compared to a net income of $9.9 million in the prior year. This change was primarily attributed to a $41.7 million increase in provision for income tax and a $21.1 million increase in selling, general, and administrative expenses. Conversely, the company saw a $20.1 million increase in products gross profit and a $5.9 million decrease in interest expense.
AEVEX also reported an Adjusted EBITDA of $30.8 million for the quarter, up from $17.8 million in Q3 2025, with a margin of 16.2% compared to 14.6% in the prior year.
In a strategic move, AEVEX completed the acquisition of BlackSea Technologies on September 8, 2026. This transaction established Maritime Systems as the company’s third reportable segment. Segment performance for the quarter included:
- Airborne Systems: Revenue of $147.8 million, up 67.1% year-over-year, with Adjusted EBITDA of $33.5 million.
- Maritime Systems: Revenue of $14.4 million, up 623.2% year-over-year, with Adjusted EBITDA of $2.0 million.
- Global Solutions: Revenue of $27.5 million, down 10.7% year-over-year, with Adjusted EBITDA of $1.5 million.
Based on the strength of the third-quarter performance and the addition of BlackSea, AEVEX raised its full-year 2026 outlook. The company now expects total revenue between $820.0 million and $840.0 million, up from a prior range of $700.0 million to $720.0 million. Adjusted EBITDA is expected to be between $128.0 million and $132.0 million, up from a prior range of $105.0 million to $111.5 million.
