Data presented at the American Association for Cancer Research (AACR) Annual Meeting 2025 Dose Finding completed with no dose limiting toxicities and preliminary recommended Phase 2 dose (RP2D) identified 5 of 7 best overall response evaluable patients achieved ORR (3 CR, 1 CRh and 1 morphologic leukemia-free state) across all dose cohorts, including 1 CR and 1 CRh in 3 patients in preliminary RP2D cohort Announces certain preliminary first quarter 2025 financial results and provides pipeline update SOUTH S ...

Core Insights - Volatus Aerospace Inc. has successfully completed a demonstration order for a leading defense organization from a G-20 nation, showcasing its advanced drone systems [1][2] - The company anticipates being shortlisted for follow-on contracts with a potential total value of up to USD $8 million, with gross margins consistent with similar contracts [3] - The CEO of Volatus Aerospace highlighted the increasing demand for adaptable drone solutions due to defense modernization efforts across NATO and G-20 countries [4] Company Overview - Volatus Aerospace is a leader in innovative global aerial solutions, providing comprehensive solutions using both piloted and remotely piloted aircraft systems [5] - The company serves various industries, including oil and gas, utilities, healthcare, and public safety, aiming to enhance operational efficiency, safety, and sustainability [5]

Core Insights - Volatus Aerospace Inc. has received approval from two major North American oil and gas companies to provide drone-based aerial services for critical energy infrastructure [1][3] - The approval allows Volatus to perform various aerial services, including emergency callouts, pipeline surveillance, leak detection, magnetometry, and asset inspections using remotely piloted aircraft systems (RPAS) [2] Company Expansion - This approval enhances Volatus' presence in the energy sector, enabling the company to deliver critical insights in a more flexible and cost-effective manner [3] - The introduction of drone operations is projected to increase revenue in the oil and gas surveillance segment by up to 20% while maintaining typical operating cost profiles [3] Operational Capabilities - Volatus Aerospace aims to expand its operational footprint in sectors requiring precision, agility, and trust, including critical infrastructure monitoring and emergency response [4] - The company provides comprehensive aerial solutions using both piloted and remotely piloted aircraft systems, serving industries such as oil and gas, utilities, healthcare, and public safety [5]

Core Insights - Volatus Aerospace Inc. has secured a one-year extension to its standing offer with the Canadian government, allowing it to provide UAV services until March 31, 2026 [1] - The extension follows the introduction of new BVLOS regulations, which are set to take effect on November 4, 2025, enabling advanced drone operations [2][3] - Volatus is positioned as a leader in the UAV industry, being the first service provider added to Canada's National Master Standing Offer in November 2020, and is qualified to handle multiple service streams [2] Company Overview - Volatus Aerospace is recognized for its innovative aerial solutions, leveraging over 100 years of combined aviation knowledge to serve various industries including oil and gas, utilities, healthcare, and public safety [4] - The company aims to enhance operational efficiency, safety, and sustainability through advanced aerial technologies [4] Regulatory Impact - The newly enacted BVLOS regulations represent a significant shift in the UAV industry, allowing for routine beyond visual line-of-sight operations, which will enhance Volatus' service delivery capabilities [3] - The company has also received authorization for nighttime BVLOS operations, further increasing its operational flexibility [2]

Core Viewpoint - Volatus Aerospace Inc. is proposing a shares-for-debt settlement to enhance shareholder value and strengthen its balance sheet, subject to TSX Venture Exchange approval [1][4]. Group 1: Transaction Details - The company issued $2,646,000 in principal amount of debentures on May 11, 2023, and has reached an agreement with debenture holders for a shares-for-debt transaction [2][5]. - The company expects to issue a total of 20,157,908 common shares and 17,639,995 warrants, depending on the maturity date selected [3][5]. - The conversion price for both the principal and accrued interest is set at $0.15 per share, with an additional 10% of the principal amount issued as supplemental shares [5]. Group 2: Financial Restructuring - The financial restructuring is aimed at optimizing the capital structure and providing financial flexibility for sustainable growth [4]. - The securities issued will be subject to a hold period of four months and one day following issuance, in accordance with applicable laws [4]. Group 3: Maturity and Warrant Details - The maturity date for the debentures will not exceed May 11, 2025, with a five-day notice provided to debenture holders [5]. - Each warrant will be exercisable at a price of $0.20 per share for three years, with provisions for acceleration if share prices exceed $0.35 for ten consecutive trading days [5]. Group 4: Company Overview - Volatus Aerospace specializes in innovative global aerial solutions, serving industries such as oil and gas, utilities, healthcare, and public safety [7]. - The company aims to enhance operational efficiency, safety, and sustainability through advanced aerial technologies [7].

Core Viewpoint - Volatus Aerospace Inc. is hosting an AI & Technology Virtual Investor Conference on April 3rd, 2025, to discuss its strategic growth plans and partnerships in the remotely piloted aircraft systems (RPAS) sector [1][2]. Company Overview - Volatus Aerospace is recognized as a leader in innovative global aerial solutions, focusing on intelligence and cargo operations. The company has over 100 years of combined institutional knowledge in aviation and serves various industries, including oil and gas, utilities, healthcare, and public safety [4]. Event Details - The conference will feature a live presentation by CEO Glen Lynch, covering the company's growth strategies, RPAS initiatives, and recent partnerships with firms like Kongsberg Geospatial, Dufour, RigiTech, DroneUp, and Ondas Holdings [2]. - The event is scheduled for April 3rd, 2025, at 10:00 AM EST, and will allow real-time questions from investors. A recording will be available for those unable to attend live [2][3]. Participation Information - Pre-registration is encouraged to facilitate participation and ensure timely access to the event. Investors are advised to conduct an online system check in advance to avoid delays [3].

Core Points - Volatus Aerospace Inc. has received approval from Transport Canada for long-distance, remotely piloted beyond visual line of sight (BVLOS) drone operations at night across Canada [1][2] - This approval allows for critical nighttime operations such as border surveillance, facility security, search and rescue, thermal detection for wildfires, and cargo delivery [1][2][3] - The company aims to secure multiple Canada-wide Special Flight Operations Certificates (SFOCs) to expand its operational capabilities in key sectors like pipeline inspections and utility transmission [4] Company Overview - Volatus Aerospace is a leader in innovative aerial solutions, providing services using both piloted and remotely piloted aircraft systems (RPAS) [5] - The company serves various industries including oil and gas, utilities, healthcare, and public safety, focusing on enhancing operational efficiency, safety, and sustainability [5]

Core Insights - Volatus Aerospace has formed a strategic partnership with RigiTech to integrate the Eiger long-range delivery drone into its drone delivery network, enhancing medical delivery capabilities across Canada and beyond [1][3] - The Eiger drone can carry payloads of 3 kg for distances up to 100 km, making it suitable for Volatus' medical delivery services [2] - This collaboration allows Volatus to extend delivery distances and cater to more remote and underserved locations, complementing its existing local delivery services [3] Company Overview - Volatus Aerospace is a leader in aerial solutions, providing services for various industries including oil and gas, utilities, healthcare, and public safety [5] - The company operates two drone delivery services in Canada, with all flights managed remotely from its Operations Control Center in Vaughan [3] - RigiTech specializes in drone technology for logistics and delivery, focusing on creating efficient drones tailored to client needs [6] Strategic Importance - The partnership with RigiTech is seen as a significant step in transforming logistics through drone technology, leveraging Volatus' remote operating experience and infrastructure [4] - Volatus plans to discuss the strategic importance of partnerships in navigating geopolitical shifts during an upcoming webinar [4]

Core Insights - Volatus Aerospace Inc. is hosting a webinar on March 25 to discuss the evolving geopolitical landscape and its strategic responses [1][2] - The company is focusing on mitigating challenges from recent tariffs and trade policies between Canada and the US through diversified supply chains and international partnerships [2][3] - Recent partnerships with Kongsberg Geospatial, Dufour, and Ondas Holdings are aimed at accelerating the commercialization of RPAS technologies [3][4] Company Strategy - The company emphasizes the importance of diversifying its supply chain and enhancing collaborations with allied nations to stay competitive [3] - Volatus aims to safeguard its operations and prepare for future market expansions by aligning with partners committed to innovation and regulatory compliance [3][5] - The strategic partnerships are not only enhancing technological capabilities but also expanding market reach and operational capabilities globally [4][5] Industry Context - The webinar will provide insights into how Volatus is navigating geopolitical shifts and positioning itself for robust growth and innovation in the RPAS market [5] - The company serves various industries, including oil and gas, utilities, healthcare, and public safety, focusing on enhancing operational efficiency, safety, and sustainability [6]

Revenue and Income - Net revenues for 2024 reached $3,974,589, an increase of 5.8% compared to $3,757,719 in 2023[432] - Net income attributable to Corpay for 2024 was $1,003,746, reflecting a growth of 2.9% from $981,890 in 2023[432] - Basic earnings per share attributable to Corpay rose to $14.27, up from $13.42, marking an increase of 6.3%[432] - Consolidated revenues for the year ended December 31, 2024, were $3,974.6 million, representing an increase from $3,757.7 million in 2023 and $3,427.1 million in 2022[519] - Revenues from contracts with customers accounted for approximately 85% of consolidated revenues for both 2024 and 2023[517] - Vehicle Payments segment generated $2,008.8 million in revenue for 2024, slightly up from $2,005.5 million in 2023[519] - Corporate Payments segment saw significant growth, with revenues increasing to $1,221.9 million in 2024 from $981.1 million in 2023, marking a 24.5% increase[519] - Float revenue from invested customer funds represented approximately 3% of consolidated revenues in 2024, up from 2% in 2023[518] Assets and Liabilities - Total assets increased to $17,957,031, up from $15,476,252, representing a growth of 16.0% year-over-year[429] - Total current liabilities increased to $8,707,881, compared to $6,825,753 in the previous year, a rise of 27.5%[430] - Total stockholders' equity decreased to $3,145,989 from $3,282,359, a decline of 4.2%[430] - The Company reported net accounts and securitized accounts receivable of $3.414 billion as of December 31, 2024, compared to $3.469 billion in 2023[497] - The Company’s total gross receivables decreased to $3.547 billion in 2024 from $3.649 billion in 2023[497] - Total assets measured at fair value as of December 31, 2024, were $2,168.2 million, with total liabilities at $739.4 million[530] Goodwill and Impairment - The company recognized a goodwill impairment loss of $90 million related to the Payroll Card reporting unit in 2024, with total goodwill at $6.0 billion[421] - The Company recognized a goodwill impairment loss of $90 million related to the Payroll card reporting unit due to decreased usage and increased costs of capital[462] - The Company has approximately $57 million of goodwill remaining related to the Payroll card reporting unit following the impairment[462] - Goodwill increased to $5.98 billion by December 31, 2024, reflecting acquisitions and adjustments, with $383.9 million attributed to recent acquisitions[565][567] Debt and Interest Rates - The company had $6.7 billion of variable rate debt outstanding as of December 31, 2024, an increase from $5.4 billion in 2023[405] - A 100 basis point change in market interest rates would have changed interest expense by approximately $22 million in 2024 and $14 million in 2023[406] - Total debt increased to $7.996 billion in 2024 from $6.723 billion in 2023, representing a 18.9% increase[579] - Term Loan A interest rate decreased to 5.83% in 2024 from 6.83% in 2023, while Term Loan B interest rate decreased to 6.11% from 7.21%[582] - The effective interest rate incurred on term loans was 6.87% during 2024[584] Cash Flow and Investments - Net cash provided by operating activities decreased to $1,940,565 in 2024 from $2,101,132 in 2023, a decline of 7.7%[442] - Total cash and cash equivalents at the end of 2024 increased to $4,456,345 from $3,141,535 in 2023, representing a growth of 42.0%[442] - The Company made a $37.4 million investment in a joint venture with a Brazilian bank in 2021, classified as an equity method investment[466] - The Company capitalized software costs of $136.3 million, $128.0 million, and $120.5 million in 2024, 2023, and 2022, respectively[469] - Cash paid for interest increased to $496,098 in 2024 from $448,384 in 2023, reflecting an increase of 10.6%[442] Foreign Currency and Exchange Rates - International revenues accounted for 47.7% of total revenues in 2024, up from 45.6% in 2023[403] - A hypothetical 10% change in foreign currency exchange rates could have impacted consolidated operating income by approximately $97.8 million in 2024, compared to $86.0 million in 2023[403] - The company reported a foreign currency translation loss of $496,534 in 2024, compared to a gain of $140,089 in 2023[436] - The Company recorded net foreign exchange losses of $9.2 million in 2024, compared to $4.8 million in 2023[477] - The Company reported foreign currency losses on long-term intra-entity transactions of $132.0 million in 2024[477] Acquisitions - The acquisitions of Paymerang and GPS Capital Markets, LLC were completed for total estimated purchase consideration of $179.2 million and $576.2 million, respectively[424] - In 2024, the Company acquired 70% of Zapay for approximately $59.5 million, with goodwill recorded at approximately $73.2 million[553] - The Company acquired 100% of Paymerang for approximately $179.2 million, with goodwill recorded at approximately $308.1 million[554] - The total consideration paid for the 2024 acquisitions was approximately $814.9 million, net of cash and cash equivalents of $509.0 million[556] Taxation - The total provision for income taxes for 2024 was $381,381 thousand, representing an increase from $343,115 thousand in 2023 and $321,333 thousand in 2022[592] - The computed "expected" tax expense for 2024 was $290,877 thousand, reflecting a tax rate of 21.0% consistent with the previous two years[592] - The valuation allowance decreased by $52.8 million in 2024, primarily due to the release of a deferred tax asset related to foreign tax credits[595] - The unrecognized tax benefits at December 31, 2024, increased to $95,460 thousand from $63,106 thousand in 2023[598] - The accumulated interest and penalties related to unrecognized tax benefits were $36.8 million as of December 31, 2024, compared to $30.7 million in 2023[597]