INNOVATIVE SOLUTIONS & SUPPORT INC

As used in this Annual Report on Form 10-K, unless expressly stated otherwise or the context otherwise requires, the terms IA or the Company , we , us and our , refers to Innovative Solutions & Support, Inc. dba Innovative Aerosystems and its subsidiaries. Incorporated in Pennsylvania in 1988, IA is a vertically integrated provider of flight solutions and equipment to commercial air transport, general aviation markets, the United States Department of Defense ( DoD ) and allied foreign militaries. On October 6, 2025, the Company rebranded and adopted our new trade name, Innovative Aerosystems. We operate in one business segment that designs, develops, manufactures, sells and services avionics products and systems for retrofit applications and Original Equipment Manufacturers ( OEMs ). In the fiscal year ended September 30, 2025, we reported net sales of $84.3 million, an increase of 78.6% on a year-over-year basis from $47.2 million in the fiscal year ended September 30, 2024, and net income of $15.6 million, an increase of 123.3% on a year-over-year basis from $7.0 million in the fiscal year ended September 30, 2024. At September 30, 2025, our backlog was $77.4 million compared with $89.2 million at September 30, 2024. Backlog at September 30, 2024 included $74.3 million of acquired backlog as a result of the September 27, 2024 acquisition. Backlog is converted into sales in future periods as work is performed or deliveries are made. Our backlog does not include additional future orders that may be received under our current OEM contracts.