Volatus Aerospace (FLT) GBC International Investment Forum summary

Strategic positioning and market evolution

• Operates internationally in commercial aviation, uncrewed systems, and defense, integrating piloted and remotely piloted aircraft for mission-critical services across regulated sectors like energy, infrastructure, and public safety.

• Focuses on autonomy, remote operations, and centralized control, enabling scalable, persistent, and cost-efficient mission execution without linear increases in personnel.

• Emphasizes long-term operating partnerships over transactional relationships, leveraging regulatory credibility and operational data as barriers to entry.

• Platform-agnostic approach allows integration across multiple aircraft and RPAS systems, providing flexibility and reducing OEM dependency.

• Recent Canadian Defence Industrial Strategy prioritizes autonomous systems and Canadian content, aligning with Volatus’s strengths and creating new investment opportunities.

Technology and operational capabilities

• Developed V-CORTX AI, a platform-agnostic autonomy stack that enables scalable, intelligent drone operations, with a focus on evolving features and adaptability to harsh environments like the Arctic.

• Built a manufacturing facility in Québec to scale autonomy solutions for Canadian and international markets, supporting growth over the next 12–36 months.

• Maintains a national and international operational footprint, with ongoing and expanding pipeline surveillance in Canada and the U.S.

• Centralized operations control center enables remote mission management and orchestration of multiple air vehicles, improving resilience and operating leverage.

• Commercial operations generate stable, recurring revenue, while defense sector opportunities are expected to be larger but less predictable in timing.

Financial performance and growth outlook

• Q3 2025 revenue grew 60% year-over-year to CAD 10.6 million, with gross margins stable at 32–34%.

• Reduced quarterly EBITDA loss from CAD 3 million to under CAD 500,000 over the past year; ended 2025 with CAD 40 million in cash and CAD 20 million in annual recurring revenue.

• Trades at a valuation discount to peers, despite diversified revenue streams and international operations.

• Approximately 21% insider ownership, with active ESOP and no insider share sales since going public, aligning management and shareholder interests.

• Active M&A pipeline, with 20 acquisitions since 2019 and plans for further accretive deals as opportunities arise.