Aeries Technology (Nasdaq: AERT) reported first-quarter fiscal 2027 results on August 10 that showed revenue climbing 43% year over year to $21.9 million for the quarter ended June 30, 2026. The result included $2.7 million from a previously disclosed customer buyout. Income from operations rose to $3.4 million from $0.8 million in the prior-year quarter, while net income increased to $2.2 million from $1.7 million.
Adjusted EBITDA nearly quadrupled to $4.1 million, pushing the margin to 18.6% from 6.7% a year earlier. Operating cash flow more than tripled to $4.8 million, lifting cash and cash equivalents to $6.1 million at quarter end. SG&A expenses grew just 2% to $3.0 million, falling to 13.8% of revenue from 19.3% in the comparable period.
Geographically, North America revenue advanced to $18.6 million from $13.4 million, while Asia Pacific and other regions contributed $3.3 million. The company reaffirmed its full-year fiscal 2027 guidance of $80 million to $84 million in revenue and $10 million to $12 million in Adjusted EBITDA.
During the quarter, Aeries repurchased more than 10% of its outstanding common stock and completed a 1-for-8 share consolidation. The balance sheet, however, continued to show total liabilities of $43.1 million exceeding total assets of $41.2 million, leaving shareholders' equity in a deficit of $2.8 million. Short-term borrowings of $3.3 million and a forward purchase option liability of $4.1 million remained on the books, and net cash from financing activities was negative $3.4 million.