AIRO Group Holdings Stock Drops 15% On Q3 Revenue Decline

(RTTNews) - AIRO Group Holdings, Inc. (AIRO) is trading at $10.76, down 15.61 percent on Friday after reporting a steep drop in third-quarter revenue to $6.3 million, compared with $23.7 million a year earlier. The company posted a net loss of $8.0 million, an improvement from the $30.3 million loss in the prior year, driven by fewer one-time items and tighter cost controls.

The stock opened at $10.40 after a previous close of $12.75 and has traded between $9.90 and $11.25 so far today on the Nasdaq. Volume stands at 1,118,571, above its average of 922,317.

AIRO shares are currently trading near the bottom of their 52-week range of $9.90 to $39.07, reflecting the market's reaction to the sharp year-over-year revenue contraction.