Aeries Technology, Inc. AERT
Aeries Technology is a global professional services and technology consulting firm that provides specialized expertise to private equity ("PE") firms' portfolio companies and middle-market, technology-enabled enterprises. We focus on the strategic planning, establishment, and operational management of Global Capability Centers ("GCCs"), which serve as offshore and nearshore operational hubs that extend and enhance our clients' business capabilities. Our service portfolio combines industry-specific expertise, functional depth, and digital technology solutions to deliver comprehensive support throughout the GCC journey, from strategic planning and center establishment to continuous operational oversight. By integrating AI, process optimization, and strategic talent acquisition in cost-advantaged regions, we can help our clients significantly reduce costs. Drawing on more than a decade of industry experience, we deliver business solutions that improve operational effectiveness, drive innovation, and accelerate strategic growth, creating measurable value for our clients.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $70.0M | $70.2M | $72.5M | $53.1M | — | — |
| Cost of revenue | $52.7M | $53.5M | $50.9M | $39.4M | — | — |
| Gross profit | $17.3M | $16.7M | $21.6M | $13.7M | — | — |
| SG&A | $12.8M | $45.5M | $18.7M | $11.3M | — | — |
| Total operating expenses | $12.8M | $45.5M | $18.7M | $11.3M | — | — |
| Operating income | $4.5M | -$28.8M | $3.0M | $2.3M | — | — |
| Interest expense | $463.0K | $751.0K | $462.0K | $185.0K | — | — |
| Pre-tax income | $5.5M | -$22.7M | $19.1M | $2.8M | — | — |
| Income tax | $2.0M | $1.1M | $1.9M | $1.1M | — | — |
| Net income | $2.8M | -$21.6M | $17.3M | $1.7M | — | — |
| EPS, basic | 0.05 | -0.46 | 0.91 | — | — | — |
| EPS, diluted | 0.05 | -0.46 | 0.91 | — | — | — |
| Shares, diluted (wtd. avg.) | $48.3M | $43.1M | $15.5M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $4.9M | $2.8M | $2.1M | $1.1M | $351.0K | $0 |
| Total current assets | $23.9M | $21.3M | $32.8M | $20.6M | $903.3K | — |
| Property, plant and equipment | $1.8M | $1.6M | $3.6M | $3.1M | — | — |
| Total assets | $41.9M | $39.8M | $49.4M | $34.4M | $233.5M | — |
| Accounts payable | $9.3M | $8.2M | $6.6M | $2.5M | $2.8K | — |
| Short-term debt | $798.0K | $1.1M | $1.4M | $969.0K | — | — |
| Total current liabilities | $30.7M | $32.4M | $38.1M | $12.5M | $391.6K | — |
| Long-term debt | $798.0K | $1.1M | $1.4M | $969.0K | — | — |
| Total liabilities | $44.5M | $45.9M | $50.6M | $20.9M | $21.0M | — |
| Retained earnings | -$28.9M | -$31.4M | -$11.7M | $6.3M | -$19.8M | — |
| Total equity | -$3.0M | -$5.8M | -$1.9M | $13.5M | $8.7M | $0 |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | $6.8M | -$1.0M | -$4.3M | $2.1M | — | — |
| Stock-based compensation | $293.0K | $12.7M | $1.6M | $3.8M | — | — |
| Capital expenditure | $1.1M | $1.5M | $1.5M | $1.6M | — | — |
| Investing cash flow | -$1.4M | -$858.0K | -$1.7M | -$1.6M | — | — |
| Financing cash flow | -$3.0M | $2.4M | $7.1M | $252.0K | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001829126-26-006123.
Others in SIC 8742
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BAH | Booz Allen Hamilton Holding Corp | $8.76B | 10.6x | -6.4% |
| G | Genpact LTD | $6.27B | 11.9x | 6.6% |
| FCN | FTI CONSULTING, INC | $4.19B | 18.4x | 2.4% |
| EXPO | EXPONENT INC | $3.25B | 33.0x | 4.2% |
| HURN | Huron Consulting Group Inc. | $2.52B | 26.6x | 11.9% |
| ASTH | Astrana Health, Inc. | $2.14B | 83.6x | 56.4% |
| ICFI | ICF International, Inc. | $1.58B | 17.8x | -7.3% |
| BWMN | Bowman Consulting Group Ltd. | $735.5M | 58.1x | 14.9% |