Volatus Aerospace Releases Q2 2025 Financial Results
Volatus Aerospace (TSXV:FLT) (OTCQB:TAKOF) reported strong Q2 2025 financial results, with revenue reaching $10.59 million, up 49% year-over-year. The company achieved a gross margin of 32% and significantly improved its Adjusted EBITDA loss to $276,259, an 85% improvement from Q2 2024.
Key operational highlights include equipment sales increasing 104% quarter-over-quarter and services growing 71% quarter-over-quarter. The company strengthened its cash position to approximately $20 million following several financing events, including a $10 million LIFE offering and a $4.83 million Quebec-led institutional private placement.
Notable achievements include securing defense contracts with NATO members, obtaining regulatory clearances for national-scale BVLOS operations, and expanding into forestry and agriculture sectors through strategic partnerships.
Volatus Aerospace (TSXV:FLT) (OTCQB:TAKOF) ha registrato solide performance nel secondo trimestre 2025, con ricavi pari a $10,59 milioni, in aumento del 49% rispetto allo stesso periodo dell’anno precedente. L’azienda ha ottenuto un margine lordo del 32% e ha ridotto significativamente la perdita Adjusted EBITDA a $276.259, migliorando dell’85% rispetto al Q2 2024.
I principali indicatori operativi mostrano vendite di attrezzature in crescita del 104% su base trimestrale e servizi in aumento del 71% su base trimestrale. La società ha rafforzato la liquidità portandola a circa $20 milioni grazie a diverse operazioni di finanziamento, tra cui un’offerta LIFE da $10 milioni e un collocamento privato istituzionale guidato dal Québec da $4,83 milioni.
Tra i risultati più rilevanti figurano l’aggiudicazione di contratti per la difesa con membri della NATO, l’ottenimento di autorizzazioni regolatorie per operazioni BVLOS su scala nazionale e l’espansione nei settori forestale e agricolo tramite partnership strategiche.
Volatus Aerospace (TSXV:FLT) (OTCQB:TAKOF) presentó sólidos resultados financieros en el segundo trimestre de 2025, con ingresos de $10.59 millones, un aumento del 49% interanual. La compañía alcanzó un margen bruto del 32% y redujo notablemente su pérdida de EBITDA ajustado a $276,259, una mejora del 85% respecto al Q2 de 2024.
Entre los aspectos operativos clave, las ventas de equipos crecieron un 104% trimestre a trimestre y los servicios un 71% trimestre a trimestre. La empresa fortaleció su posición de efectivo hasta aproximadamente $20 millones tras varios eventos de financiamiento, incluyendo una oferta LIFE de $10 millones y una colocación privada institucional en Quebec por $4.83 millones.
Logros destacados incluyen la obtención de contratos de defensa con miembros de la OTAN, aprobaciones regulatorias para operaciones BVLOS a escala nacional y la expansión en los sectores forestal y agrícola mediante alianzas estratégicas.
Volatus Aerospace (TSXV:FLT) (OTCQB:TAKOF)는 2025년 2분기에 견조한 실적을 보고했습니다. 매출은 $10.59백만으로 전년 동기 대비 49% 증가했습니다. 회사는 32%의 총이익률을 기록했고, 조정 EBITDA 손실을 $276,259로 크게 개선하여 2024년 2분기 대비 85% 개선을 이루었습니다.
주요 운영 지표로는 장비 판매가 분기 대비 104% 증가했고 서비스는 분기 대비 71% 증가했습니다. 회사는 LIFE 1,000만 달러 제공과 퀘벡 주도 기관 사모 방식으로 483만 달러 조달을 포함한 여러 자금 조달 이벤트를 통해 현금 보유액을 약 $20백만으로 강화했습니다.
주목할 성과로는 NATO 회원국과의 방위 계약 체결, 국가 규모 BVLOS 운영에 대한 규제 승인 획득, 전략적 파트너십을 통한 산림 및 농업 분야로의 사업 확장 등이 있습니다.
Volatus Aerospace (TSXV:FLT) (OTCQB:TAKOF) a publié de solides résultats pour le deuxième trimestre 2025, avec un chiffre d’affaires de 10,59 millions $, en hausse de 49% sur un an. La société a réalisé une marge brute de 32% et a fortement réduit sa perte d’EBITDA ajusté à 276 259 $, soit une amélioration de 85% par rapport au T2 2024.
Parmi les points opérationnels clés, les ventes d’équipements ont augmenté de 104% d’un trimestre à l’autre et les services de 71% d’un trimestre à l’autre. La trésorerie a été renforcée à environ 20 millions $ suite à plusieurs opérations de financement, dont une offre LIFE de 10 millions $ et un placement privé institutionnel piloté par le Québec de 4,83 millions $.
Parmi les réalisations notables figurent l’obtention de contrats de défense avec des membres de l’OTAN, l’obtention d’autorisations réglementaires pour des opérations BVLOS à l’échelle nationale et l’expansion vers les secteurs forestier et agricole via des partenariats stratégiques.
Volatus Aerospace (TSXV:FLT) (OTCQB:TAKOF) meldete starke Finanzergebnisse für das 2. Quartal 2025: der Umsatz belief sich auf $10,59 Millionen, ein Anstieg von 49% im Jahresvergleich. Das Unternehmen erzielte eine Bruttomarge von 32% und verringerte den bereinigten EBITDA-Verlust deutlich auf $276.259, eine Verbesserung um 85% gegenüber Q2 2024.
Zu den wichtigsten operativen Kennzahlen zählen ein Anstieg des Geräteabsatzes um 104% im Quartalsvergleich und ein Wachstum der Dienstleistungen um 71% im Quartalsvergleich. Die Liquiditätsposition wurde nach mehreren Finanzierungsmaßnahmen, darunter ein LIFE-Angebot über $10 Millionen und eine von Québec geführte institutionelle Privatplatzierung über $4,83 Millionen, auf etwa $20 Millionen gestärkt.
Besondere Erfolge umfassen den Abschluss von Verteidigungsverträgen mit NATO-Mitgliedern, regulatorische Genehmigungen für BVLOS-Betrieb auf nationaler Ebene und die Expansion in die Forst- und Landwirtschaft durch strategische Partnerschaften.
- Revenue increased 49% year-over-year to $10.59 million
- Adjusted EBITDA loss improved 85% year-over-year
- Equipment sales grew 104% quarter-over-quarter
- Services revenue increased 71% quarter-over-quarter
- Cash position strengthened to approximately $20M
- Secured new NATO-aligned contracts and defense demonstrations
- Obtained national-scale BVLOS operating authorities
- Net loss increased to $3.98 million from $2.08 million in Q2 2024
- Gross margin declined to 32% from 35% year-over-year
- Finance costs increased significantly to $1.90 million from $492,000 year-over-year
- Revenue of
$10,587,075 in Q2 2025, up49% year-over-year; gross margin of32% - Adjusted EBITDA loss of
$276,259 , an85% year-over-year improvement - Current cash balance strengthened to approximately
$20M - Operational highlights included clearances and demonstrations with defense and energy clients and new commercial wins in forestry and agriculture. Subsequent events included additional NATO-aligned contracts and growth capital
TORONTO, Aug. 20, 2025 (GLOBE NEWSWIRE) -- Volatus Aerospace Inc. (TSXV:FLT) (OTCQB:TAKOF) (Frankfurt:A3DP5Y/ABB.F) ("Volatus" or "the Company"), a leader in aerial solutions, is pleased to announce its financial results for the three and six months ended June 30, 2025 (Q2 2025). All dollar figures are stated in Canadian dollars, unless otherwise indicated.
Q2 2025 delivered another quarter of strong growth and operational progress, reflecting robust defense demand, expanding commercial programs, and disciplined execution. Equipment sales increased
Q2 2025 Financial Highlights:
- Revenue:
$10,587,075 , an increase of49% compared with$7,121,993 in Q2 2024, driven by strong equipment demand and continued services growth. - Gross Profit:
$3,375,420 , representing a gross margin of32% , compared with35% in Q2 2024. Margin reflects a higher proportion of equipment sales in the quarter. - Adjusted EBITDA: Loss of (
$276,259) , a significant85% improvement versus ($1,852,178) in Q2 2024, reflecting scale, service growth, and cost discipline. - Cash Position:
$6,125,646 at June 30, 2025, with current cash now approximately$20 million after subsequent financing events. - Revenue Mix: Services accounted for
52% of Q2 revenue and equipment48% , supported by71% quarter-over-quarter growth in services and104% quarter-over-quarter growth in equipment.
Q2 2025 Operational Highlights:
- Major Regulatory Advancements Support National-Scale BVLOS Operations
- Secured one-year extension of the federal standing offer (PWGSC) to March 31, 2026, ensuring continued access to federal contracts
- Obtained clearance by two major oil and gas firms for RPAS pipeline surveillance
- Completed a defense demonstration for a G-20 client showcasing fixed-wing VTOL and nano RPAS platforms
- Entered a collaboration with J.D. Irving, Limited to deploy heavy-lift RPAS for large-scale tree planting
- Awarded a national agriculture contract to deliver multispectral crop surveys at 21 sites across four provinces
- Advanced commercialization of autonomous and remote operations through OCC-supervised BVLOS medical deliveries in Ontario
Subsequent to Q2 2025 Operational Highlights:
- Awarded
$560,000 international training contract with a NATO member country - Closed
$10 million LIFE offering - Launched Condor XL heavy-lift drone program
- Delivered approximately
$1 million tactical ISR drone contract from a NATO partner - Completed
$4.83 million Quebec-led Institutional “bought-deal” private placement LIFE offering - Cash balance now approximately
$20 million .
Management Commentary
“Q2 was fueled by growth across equipment and services, supported by strong defense demand and broader operating authorities,” said Glen Lynch, CEO of Volatus Aerospace. “With national-scale BVLOS approvals and our Operations Command Centre enabling safe, efficient remote missions, we are converting more of our pipeline into repeatable programs. We strengthened liquidity, improved operating leverage, and ended the quarter with positive working capital. As we look to the balance of the year, our focus remains disciplined execution for enterprise and government clients and steady progress toward profitability.”
Strategic Outlook
Volatus continues to lean into a changing geopolitical backdrop and Canada’s historic commitment to higher defence spending. The Company is positioning to capture growing domestic demand across defence, public safety, and Arctic surveillance, while accelerating commercialization of proprietary systems. Investment in Canadian design, production, and secure supply chains underpins Volatus’ goal of building sovereign capacity aligned with national priorities.
The Company remains actively engaged with the Government of Canada and the Canadian Armed Forces on defence modernization, border protection, and Arctic sovereignty. Recent financing proceeds have been allocated to expand the defence segment, accelerate commercialization, and reinforce Volatus’ position as a national leader in aerial solutions
Webinar Details:
In conjunction with this release, Volatus will host a webinar on Thursday, August 21, 2025 at 4PM EST at which time Glen Lynch, Chief Executive Officer, and Abhinav Singhvi, Chief Financial Officer, will review financial results and major milestones with Danielle Gagne, Head of Corporate Communications as moderator.
Registration Link: https://us06web.zoom.us/webinar/register/WN_K_HDfCINR8CMLh6072CN_w
Audio Replay Options: An audio replay of the event will be archived on the Investor Relations page of the company's website https://investor.volatusaerospace.com/videos/
| Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | |||||||||||||
| Revenue | 10,587,075 | 5,713,158 | 6,783,176 | 6,618,504 | 7,121,993 | 6,623,741 | 10,500,995 | 8,274,349 | ||||||||||||
| Direct costs | 7,211,655 | 3,883,185 | 4,209,577 | 4,366,107 | 4,617,447 | 4,397,985 | 7,700,881 | 5,265,775 | ||||||||||||
| Gross Profit | 3,375,420 | 1,829,973 | 2,573,599 | 2,252,397 | 2,504,546 | 2,225,757 | 2,800,114 | 3,008,574 | ||||||||||||
| 32 | % | 32 | % | 38 | % | 34 | % | 35 | % | 34 | % | 27 | % | 36 | % | |||||
| OPERATING EXPENSES | ||||||||||||||||||||
| Advertising & marketing | 428,128 | 135,575 | 100,878 | 331,763 | 397,357 | 293,339 | 278,781 | 541,635 | ||||||||||||
| IT & tech | 118,017 | 245,180 | 157,851 | 210,328 | 259,456 | 256,802 | 28,439 | 243,602 | ||||||||||||
| Personnel | 2,214,001 | 2,440,528 | 1,958,572 | 1,787,175 | 1,515,536 | 2,196,722 | 1,312,983 | 1,727,086 | ||||||||||||
| R&D | 4,390 | 11,756 | 25,429 | 4,011 | - | 11,840 | 771,861 | 104,832 | ||||||||||||
| Office cost | 714,212 | 438,182 | 673,047 | 497,706 | 554,050 | 583,199 | 605,396 | 722,276 | ||||||||||||
| Travel | 73,765 | 64,288 | 38,959 | 77,011 | 40,143 | 57,621 | 126,710 | 90,804 | ||||||||||||
| External partner cost | 473,390 | 200,637 | 386,259 | 2,117,840 | 430,141 | 200,072 | 436,686 | 243,443 | ||||||||||||
| Depreciation and amortization | 1,429,826 | 1,496,425 | 1,315,544 | 1,294,350 | 1,116,698 | 1,098,088 | 1,647,364 | 843,744 | ||||||||||||
| Share based Payments | 168,717 | 165,454 | 77,523 | 124,861 | 126,822 | 126,822 | 173,671 | 195,372 | ||||||||||||
| 5,624,446 | 5,198,025 | 4,734,061 | 6,445,045 | 4,440,202 | 4,824,504 | 5,381,891 | 4,712,793 | |||||||||||||
| (Loss) from Operations | (2,249,026 | ) | (3,368,052 | ) | (2,160,462 | ) | (4,192,648 | ) | (1,935,656 | ) | (2,598,748 | ) | (2,581,777 | ) | (1,704,219 | ) | ||||
| OTHER ITEMS - INCOME/(EXPENSE) | ||||||||||||||||||||
| Finance cost | (1,897,745 | ) | (645,685 | ) | (1,072,341 | ) | (992,806 | ) | (491,664 | ) | (379,106 | ) | (667,949 | ) | (425,671 | ) | ||||
| Other income (expense) | 17,104 | (3,468 | ) | (133,884 | ) | (2,669 | ) | 153 | (10,168 | ) | 14,955 | (39,229 | ) | |||||||
| Unrealized gain on investments | - | (58,963 | ) | 247,661 | - | - | ||||||||||||||
| Gain (Loss) on disposal of property and equipment | - | - | (1,541 | ) | (194,662 | ) | 319,044 | (7,184 | ) | (125,476 | ) | 228,769 | ||||||||
| Foreign exchange translation | (58,413 | ) | 1,225 | 92,541 | (109,037 | ) | 25,508 | 3,887 | (24,156 | ) | 19,946 | |||||||||
| Net Loss | (4,188,080 | ) | (4,074,943 | ) | (3,028,025 | ) | (5,491,822 | ) | (2,082,615 | ) | (2,991,319 | ) | (2,775,864 | ) | (1,920,403 | ) | ||||
| Deferred Tax Income/ (Expense) | 210,377 | (210,377 | ) | (100,899 | ) | 464,216 | ||||||||||||||
| Net Loss | (3,977,703 | ) | (4,285,320 | ) | (3,128,924 | ) | (5,491,822 | ) | (2,082,615 | ) | (2,991,319 | ) | (2,311,647 | ) | (1,920,403 | ) | ||||
| Total comprehensive Income (loss) for the period attributable to: | ||||||||||||||||||||
| Owners of Volatus Aerospace Corp. | (3,266,866 | ) | (4,241,643 | ) | (3,099,840 | ) | (5,440,827 | ) | (2,070,150 | ) | (2,915,143 | ) | (1,997,089 | ) | (2,427,597 | ) | ||||
| Non-controlling interest | (710,837 | ) | (43,677 | ) | (29,084 | ) | (50,994 | ) | (12,465 | ) | (76,176 | ) | (314,559 | ) | 507,194 | |||||
| (3,977,703 | ) | (4,285,320 | ) | (3,128,924 | ) | (5,491,822 | ) | (2,082,615 | ) | (2,991,319 | ) | (2,311,647 | ) | (1,920,403 | ) | |||||
| Loss per share | ||||||||||||||||||||
| Basic and Diluted | (0.01 | ) | (0.01 | ) | (0.01 | ) | (0.02 | ) | (0.02 | ) | (0.02 | ) | (0.02 | ) | (0.02 | ) | ||||
| RECONCILIATION OF ADJUSTED EBITDA TO NET LOSS | ||||
| Three Months ended June | Three Months ended June | |||
| 2025 | 2024 | |||
| Adjusted EBITDA (loss) | (276,259 | ) | (1,852,178 | ) |
| Interest | 1,897,745 | 491,664 | ||
| Depreciation | 1,429,826 | 1,116,698 | ||
| Share-based Payments | 168,717 | 126,822 | ||
| Severance/discontinued Cost | 357,120 | - | ||
| Foreign Exchange Translation | 58,413 | (25,508 | ) | |
| Tax Expense/(Income) | (210,377 | ) | - | |
| Proforma DDC Operating Expense | - | (1,479,239 | ) | |
| Net Loss | (3,977,703 | ) | (2,082,615 | ) |
About Volatus Aerospace:
Volatus Aerospace is a leader in innovative global aerial solutions for intelligence and cargo. With a strong foundation of over 100 years of combined institutional knowledge in aviation, Volatus provides comprehensive solutions using both piloted and remotely piloted aircraft systems (RPAS). We serve industries such as oil and gas, utilities, healthcare, and public safety. Our mission is to enhance operational efficiency, safety, and sustainability through cutting-edge, real-world solutions.
Note Regarding Non-GAAP Measures:
In this press release we describe certain income and expense items that are unusual or non-recurring. There are terms not defined by International Financial Reporting Standards (IFRS). Our usage of these terms may vary from the usage adopted by other companies. Specifically, gross profit, gross margin, and Adjusted EBITDA r Normalized EBITDA are undefined terms by IFRS that may be referenced herein. We provide this detail so that readers have a better understanding of the significant events and transactions that have had an impact on our results.
Throughout this release, reference is made to “gross profit,” “gross margin,” and “Adjusted EBITDA” which are non-IFRS measures. Management believes that gross profit, defined as revenue less operating expenses, is a useful supplemental measure of operations. Gross profit helps provide an understanding on the level of costs needed to create revenue. Gross margin illustrates the gross profit as a%age of revenue. Adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA"). The Company defines Adjusted EBITDA as IFRS comprehensive loss excluding interest expense, depreciation and amortization expense, share-based payments, income tax expense, integration and due diligence costs, one time profit or loss (non-recurring), and impairment of goodwill, property, plant, and equipment and right-of-use assets (ROU). The Company believes that Adjusted EBITDA is a meaningful financial metric as it measures cash generated from operations which the Company can use to fund working capital requirements, service future interest and principal debt repayments and fund future growth initiatives. Readers are cautioned that these non-IFRS measures may not be comparable to similar measures used by other companies. Readers are also cautioned not to view these non-IFRS financial measures as an alternative to financial measures calculated in accordance with International Financial Reporting Standards (“IFRS”). Adjusted EBITDA does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers and should not be construed as alternatives to comprehensive loss or income determined in accordance with IFRS. For more information with respect to financial measures which have not been defined by GAAP, including reconciliations to the closest comparable GAAP measure, see the "Non-GAAP Measures and Additional GAAP Measures" section of the Company’s most recent MD&A which is available on SEDAR.
Forward-Looking Statement:
This news release contains statements that constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Often, but not always, forward-looking information and forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding: (i) the business plans and expectations of the Company; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial, and economic data and operating plans, strategies, or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information and forward-looking statements reflect the Company's current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the commercialization of drone flights beyond visual line of sight and potential benefits to the Company; and meeting the continued listing requirements of the TSXV. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
CONTACT DETAILS
Abhinav Singhvi
Chief Financial officer
+1 833-865-2887
abhinav.singhvi@volatusaerospace.com
COMPANY WEBSITE
https://volatusaerospace.com
SOURCE: Volatus Aerospace Inc.
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