Innovative Solutions and Support Inc (NASDAQ: ISSC) is an aerospace avionics company that designs, manufactures, and integrates cockpit display systems, navigation systems, communication systems, sensors, and flight actuators for fixed-wing aircraft. Revenue comes from product sales and engineering development contracts delivered to OEM manufacturers, commercial air transport carriers, corporate and general aviation operators, the U.S. Department of Defense, defense contractors, and foreign militaries across both retrofit and new-build programs. The company operates as both a manufacturer and a systems integrator from an 85,000-square-foot facility in Exton, Pennsylvania. Net sales were $84.3 million in FY2025 (fiscal year ended September 30, 2025), up 78.6% from $47.2 million in FY2024. Net income was $15.6 million in FY2025, up 123.3% from $7.0 million in FY2024. Backlog stood at $77.4 million as of September 30, 2025. The company held 171 U.S. and international patents as of September 30, 2025, and approximately 37% of full-time employees worked in engineering roles as of the same date.

Revenue model

Transactional product sales and engineering development contracts (EDCs). Revenue is recognized when performance obligations are satisfied, either at point of delivery for discrete product shipments or over time for combined engineering-plus-product contracts. Backlog converts to sales as work is performed or deliveries are made.

Products and services

Integrated Flight Deck Systems under the COCKPIT/IP brand (primary flight and navigation displays, crew alerting and engine displays, integrated standby instruments, mission displays); Navigation Systems (flight management systems, mission computers, navigation radios, transponders); Communication Systems (communication radios, audio panels, radio management units); Sensors and Control Systems (air data computers, attitude and heading reference systems, magnetometers, inertial reference units, GPS receivers, utility management systems, flight control computers); Advanced Flight Actuators (linear and rotary smart-actuators); ThrustSense Autothrottle system; military display generators.

Customers and end markets

OEM aircraft manufacturers, commercial air transport carriers, corporate and general aviation operators, the U.S. Department of Defense, U.S. defense contractors, aircraft modification centers, government agencies, and foreign militaries. Products sold into retrofit and new OEM programs. ThrustSense Autothrottle selected by the U.S. Army for C-12 (B200) aircraft in October 2024. A significant portion of sales derives from defense contractors or U.S. government agencies.

Value-chain role

Vertically integrated avionics manufacturer and systems integrator. Performs in-house design, manufacturing, testing, integration, and repair. Sells primarily to commercial customers for end use in DoD programs and directly to OEMs, carriers, and operators. Also engaged in a production transition of military display generators and flight control computers from Honeywell facilities to its own Exton, Pennsylvania facility following a September 2024 acquisition agreement.

Geographic exposure

Primary operations at an 85,000-square-foot facility in Exton, Pennsylvania. Sales include U.S. government and DoD programs as well as foreign military customers. Filing does not disclose a specific geographic revenue breakdown.

Competitors

Honeywell Aerospace, Collins Aerospace, GE Aerospace, Thales Defense & Security Inc., Elbit Systems, Garmin Ltd.

Source: SEC 10-K, filed 2025-12-23

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