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Aeries Technology, Inc. (NASDAQ:AERT) reported Monday that it expects to post an operating loss of approximately $28.8 million for the fiscal year ended March 31, 2025. This compares to an operating income of about $3.0 million for the previous fiscal year ended March 31, 2024.
The company attributed the anticipated loss primarily to a rise in selling, general and administrative expenses, which increased to $45.5 million for fiscal 2025 from $18.7 million in fiscal 2024. A significant portion of this increase was driven by higher stock-based compensation expense and incremental bad debt expense.
The disclosure was made as part of a Notification of Late Filing on Form 12b-25, which the company filed with the Securities and Exchange Commission regarding its Annual Report on Form 10-K for the fiscal year ended March 31, 2025.
Aeries Technology is incorporated in the Cayman Islands and its Class A ordinary shares and redeemable warrants are listed on the Nasdaq Capital Market under the symbols AERT and AERTW, respectively.
This information is based on a statement issued in a recent SEC filing.
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