on Volatus Aerospace Corp. (isin : CA92865G1054)
Volatus Aerospace Reports Q3 2024 Results, Highlights Merger and Growth
Volatus Aerospace Corp. announced its financial results for Q3 2024, showcasing significant developments and financial performance. The company reported a quarterly revenue of $6.62 million and a blended gross margin of 34%. Operational cash flow was positive at $79,634. A notable achievement was the 44% rise in service revenue, emphasizing Volatus' strategic focus on efficiency and capital optimization.
The recent merger with Drone Delivery Canada marked a transformative period for Volatus. The integration aims to realize cost synergies, with $2.1 million already achieved within 60 days. Additionally, Volatus secured $15 million institutionally-led financing, enhancing its financial stability.
The company's operational highlights include Transport Canada's approval for BVLOS flights and expansion in both the European market and the U.S. utility sector. As Volatus looks towards Q4 2024, it anticipates robust performance and sustained growth, leveraging its advanced aerial solutions in key industries.
R. P.
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