FleetCor(FLT) GlobeNewswire·2025-04-30 22:04Core Insights - Volatus Aerospace Inc. reported financial results for FY 2024, generating total revenue of CAD 27,147,414, with a 16% year-over-year growth in services and technology revenue [2][6][10] - The company achieved a record blended gross margin of 38% in Q4 2024, up from 27% in Q3 2024, primarily due to a higher mix of margin services and technology revenue [2][6] - Normalized EBITDA for Q4 2024 was near breakeven at (3,344,056) in Q4 2023, attributed to successful integration efforts and cost synergies from the merger with Drone Delivery Canada [2][6][10] Financial Highlights - Total revenue for FY 2024 was CAD 27,147,414, a decrease from CAD 34,872,815 in FY 2023, with a focus on higher-margin services [6][10] - Gross profit for FY 2024 was CAD 9,556,299, with an overall gross margin increase from 32% in FY 2023 to 35% in FY 2024 [6][10] - The company realized approximately CAD 3,770,000 in cost synergies from the merger within four months [6][10] Operational Highlights - The active sales pipeline exceeds CAD 600 million, indicating strong future revenue potential [6] - Volatus completed acquisitions of UAVHub and The Drone Mentor, enhancing its operational capabilities [7] - The company expanded its global ecosystem into markets such as the UK, India, and Norway [7] Strategic Developments - A partnership was announced with DroneUp LLC to accelerate drone deliveries in the United States [11] - The company obtained Canada-wide approval for long-distance, remotely piloted BVLOS drone operations at night [11] - Volatus will host a webinar on May 2, 2025, to discuss financial results and major milestones [8]