on Volatus Aerospace Corp. (isin : CA92865G1054)
Volatus Aerospace Releases Q3 2024 Financial Results Amid Strategic Moves
Volatus Aerospace Corp., a leading aerial solutions provider, unveiled its Q3 2024 financial results, highlighting strategic mergers and increased revenue. The company reported a service revenue growth of 44%, reaching $5.5 million, while maintaining a 34% gross margin.
A significant milestone was the merger with Drone Delivery Canada and securing $15 million in financing from Investissement Québec and Export Development Canada, alongside additional equity financing. These steps bolstered the company's balance sheet amidst continued operational synergies post-merger.
Operational highlights included expansions in Europe and the US, advancing BVLOS capabilities, and a notable project in Edmonton. Despite a comprehensive loss of $5.49 million, efforts to cut overheads showed a decrease in SG&A expenses by $592,000. Looking ahead, Volatus anticipates strong Q4 performance driven by capital and financing initiatives secured.
R. P.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all Volatus Aerospace Corp. news