Business
Volatus Releases Fourth Quarter and Fiscal Year 2024 Financial Results
FY 2024 total revenue of $27,147,414, with 16% year over year growth in services and technology r...
About this update from Volatus Aerospace Inc.
[{"type":"text","content":"Volatus Releases Fourth Quarter and Fiscal Year 2024 Financial Results\n\n\n\n\n\n FY 2024 total revenue of $27,147,414, with 16% year over year growth in services and technology revenue\n \n\n\n\n Achieved record blended gross margin of 38% in Q4 2024\n \n\n\n\n Achieved cost synergies from merger of approximately $3,770,000 in 4 months\n \n\n\n\n The active Sales pipeline totaling greater than $600M\n \n\n\n\n Received an agreement to Convert $2,646,000 of debt into equity, strengthening balance sheet\n \n\n\n\n Volatus will host a webinar and live Q&A on Friday May 2, 2025, at 8 am ET (see registration link below).\n \n\n\n\n TORONTO, April 30, 2025 (GLOBE NEWSWIRE) --\n \n Volatus Aerospace Inc. (TSXV:FLT) (OTCQB:TAKOF) (Frankfurt:A3DP5Y/ABBA.F)\n \n\n (\"Volatus\" or \"the Company\"),\n \n a leader in aerial solutions, is pleased to announce its financial results for the twelve-month period and fourth quarter ended Dec 31, 2024 (“FY 2024” and “Q4 2024”, respectively). All dollar figures are stated in Canadian dollars, unless otherwise indicated.\n \n\n In FY 2024, the Company generated revenue of $27,147,414, while Q4 2024 contributed $6,783,176. In Q4 2024, the Company’s blended gross margin was a record 38% compared to Q3 2024 of 27%, mainly due to a larger mix of higher margin services and technology revenue. In Q4 2024, the Company also achieved near-breakeven normalized EBITDA of $(206,900), compared to $(3,344,056) for the same comparative period in 2023, adjusting for certain expenses related to the merger of equals transaction with Drone Delivery Canada that was completed in August 2024. The $3,137,156 improvement in normalized EBITDA is directly related to the Company’s early focus and success of integration efforts and realization of various cost synergies.\n \n\n\n FY 2024 Operational Highlights:\n \n\n\n\n Completed the acquisitions of UAVHub & The Drone Mentor\n \n\n Completed its merger of equals transaction between Drone Delivery Canada and Volatus Aerospace Corp.\n \n\n Ranked second fastest growth companies in Canada by the\n \n Globe and Mail\n \n\n\n Closed a $15M financing backed by Investissement Québec (IQ) and Export Development Canada (EDC)\n \n\n Expanded global ecosystem to markets such as UK, India, Norway\n \n\n Announced a new collaboration ...