Volatus Aerospace Releases Q2 2026 Financial Results

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Postmedia has not reviewed the content. by GlobeNewswire Volatus Aerospace Releases Q2 2026 Financial ResultsAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.Revenue of $8,418,830 in Q2 2026, increasing 49.5% QoQEquipment delivery increased 38% and services increased 59% compared to Q126Exited the quarter with cash of $59,199,739 and working capital of $63,796,848, the strongest liquidity position in its historyOpened its 53,000 square foot manufacturing and systems integration facility at Montreal-Mirabel International Airport in JuneThis foundation positions Volatus to accelerate the manufacturing ramp at Mirabel, advance product development for the defence market, and pursue larger government and commercial programs that its expanding pipeline and sovereign capability increasingly within reachTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountMONTREAL, Aug. 13, 2026 (GLOBE NEWSWIRE) — Volatus Aerospace Inc. (TSX:FLT) (OTCQX:TAKOF) (Frankfurt: ABB.F) (“Volatus” or the “Company”), a Canadian-headquartered global aerospace and defence company, is pleased to announce its financial results for the three and six months ended June 30, 2026 (Q2 2026). All dollar figures are stated in Canadian dollars, unless otherwise indicated.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe second quarter of fiscal 2026 marked a decisive step in Volatus Aerospace’s transition into a sovereign aerospace and defence platform, combining the strongest balance sheet in the Company’s history with tangible progress across manufacturing, proprietary technology, and allied defence programs. Equipment sales increased 38% quarter-over-quarter while services grew 59% quarter-over-quarter.Q2 2026 Financial Highlights:Revenue: $8,418,830, compared with $10,587,075 in Q2 2025. The year-over-year comparison reflects a single defence contract, representing approximately $2.6 million of anticipated revenue, for which delivery was not completed within the quarter due to continued supply chain disruption. Excluding the impact of that contract, revenue from the balance of the business grew modestly year over year, reflecting continued underlying demand.Gross Profit: $2,468,184, representing a gross margin of 29.3%, compared with 31.9% in Q2 2025. Margin reflects a higher proportion of defence programs in the quarter.Adjusted EBITDA: Loss of ($4,352,154), attributable to the increase in operating expenses and the lower gross profit contribution due to change in product mix.Cash Position: Record high of $59,199,739 at June 30, 2026, up from $41,114,832 at year-end 2025 reflecting best position in company history after subsequent financing events.Revenue Mix: Services accounted for 57% of Q2 revenue and equipment 43%, supported by 59% quarter-over-quarter growth in services and 38% quarter-over-quarter growth in equipment.Revenue: $14,049,389, compared with $16,300,233 in H1 2025, a decrease of $2,250,844 or 13.8%. The decline reflects the timing of defence deliveries, including the approximately $2.6 million contract not completed in the second quarter, which the Company expects to fulfil in full over the balance of fiscal 2026.Revenue Mix: Services and training represented 56% of H1 revenue ($7,830,947) and products and equipment 44% ($6,218,443), within the Company’s stated long-term target range of 55–60% services and 40–45% equipment.Geographic Distribution: Canada contributing $9,080,453, the United Kingdom $3,948,037, and the United States $1,020,899, with markets outside Canada representing approximately 35% of consolidated revenue.Gross Profit: $4,437,859, representing a gross margin of 31.6%, compared with $5,205,393 and 31.9% in H1 2025. Measured across the six-month period, blended margin was broadly stable year over year.Operating Expenses: $17,019,022, compared with $11,471,375 in H1 2025, an increase of $5,547,647 or 48.4%, reflecting a concentrated period of growth-stage investment in the Company’s defence vertical, the establishment of its Mirabel manufacturing base, technology platform development, and its capital markets positioning.Net Loss: $(14,093,290), compared with $(10,989,094) in H1 2025. Loss per share was $(0.02) in both periods.Balance Sheet: Total assets increased 28% to $118,797,720 from $92,655,765 at December 31, 2025. Working capital increased by $27,314,130 to $63,796,848, and the current ratio stood at 7.74 against a covenant requirement of 1.25. Interest-bearing borrowings, excluding lease liabilities and convertible debentures, decreased to $9,717,062 from $11,656,106.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Q2 2026 Operational Highlights: June 23, 2026: Opened 53,000-Square-Foot Mirabel Facility, Establishing Domestic Manufacturing Base for Autonomous Defence SystemsJune 5, 2026: Closed a $34.5 million bought deal public offeringMay 27, 2026: Introduced its proprietary V-Cortex™ AI flight controller and autonomy operating system at CANSEC 2026April 15, 2026: Awarded Multi-Year Training Contract with NATO-Allied GovernmentMarch 25, 2026: Expanded Global Training Network Through Strategic Partnership with University of Technology, JamaicaSubsequent to Q2 2026 Operational Highlights: Aug 5, 2026: Entered into Strategic Partnership with Kraus Hamdani Aerospace to Establish Sovereign Canadian Persistent Intelligence CapabilityAug 4, 2026: Entered into Strategic partnership with Singular Aircraft to Introduce Heavy-Lift Autonomous Aircraft for Canadian Wildfire ResponseJuly 21, 2026: Joined Forces with Concordia University’s Volt-Age research program to collaborate on energy technologies for uncrewed aircraft systemsJuly 20, 2026: Participated in the Farnborough International Airshow as part of the Team Canada delegation, showcasing its aerospace, autonomy, and aerial intelligence solutionsJuly 9, 2026: Participated in the Maritime & Arctic Security & Safety (MASS) 2026 conference in St. John’s, Newfoundland and LabradorJuly 8, 2026: Received a Letter of Acceptance from Transport Canada under the new Pre-Validated Declaration (PVD) process for its Canary Remotely Piloted Aircraft System (RPAS)“Q2 2026 marked an important inflection point for Volatus Aerospace as we continued to transform the Company from an operator of advanced unmanned systems into a vertically integrated aerospace and defence platform with sovereign Canadian capabilities. The opening of our 53,000-square-foot manufacturing and systems integration facility at Mirabel is particularly significant. We now have the infrastructure in place to scale domestic production, advance our proprietary technologies and support larger aerospace and defence programs from Canada. Combined with the launch of our V-Cortex™ AI flight controller and autonomy operating system, we are increasingly building capabilities across the full value chain, from aircraft and autonomy to manufacturing, intelligence and operations. We believe the combination of our strengthened balance sheet, expanding manufacturing capability, proprietary technology and growing government and defence relationships positions Volatus for a significant next phase of growth.” said Abhinav Singhvi, Chief Financial Officer of Volatus Aerospace Inc.Volatus continues to deepen its presence across established commercial verticals, including energy, utilities and infrastructure inspection, while expanding into rapidly growing government, public safety and allied defence markets. This expansion is being supported by significant geopolitical realignment, increasing domestic defence investment and structural growth in global demand for autonomous systems.The Company is advancing the commercialization of its proprietary technology portfolio across both hardware and software. The launch of the SKYDRA™ C-UAS SaaS platform represents an important step in the evolution of Volatus toward higher-value, recurring software revenue. Together with the Company’s NATO-aligned intelligence, surveillance and reconnaissance (ISR) capabilities, autonomous aircraft platforms and proprietary V-Cortex™ autonomy technology, SKYDRA™ expands Volatus’ ability to provide integrated solutions across the defence and security ecosystem.Volatus is also leveraging its sovereign manufacturing and systems integration infrastructure at Mirabel to support the development, production and deployment of autonomous aerospace and defence systems for Canadian and allied markets. The Company believes this combination of proprietary technology, domestic manufacturing capability and operational expertise provides a differentiated platform from which to pursue larger government, defence and commercial programs.Volatus remains focused on achieving sustained profitability through operational efficiency, disciplined cost management, growth in long-term contracted revenue, and an increasing mix of higher-margin services, software and defence programs. With its strongest financial position in Company history, Volatus has the financial flexibility to execute its growth strategy, invest in manufacturing and product development, and pursue larger opportunities without relying on near-term operating cash flow to fund these strategic initiatives.In conjunction with this release, Volatus will host a webinar on Friday,August 14, 2026 at 8:30 AM EST at which time Glen Lynch, Chief Executive Officer, and Abhinav Singhvi, Chief Financial Officer, will review financial results and major milestones with Kristina Davis, VP of Corporate Affairs and Strategic Positioning as moderator.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 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024 Revenue8,418,830 5,630,559 7,298,364 10,605,438 10,587,075 5,713,158 6,783,176 6,618,504 Direct costs5,950,646 3,660,884 4,873,412 7,134,827 7,211,655 3,883,185 4,209,577 4,366,107 Gross Profit2,468,184 1,969,675 2,424,952 3,470,611 3,375,420 1,829,973 2,573,599 2,252,397 29%35%33%33%32%32%38%34%OPERATING EXPENSES Advertising & marketing996,721 489,016 273,142 321,558 428,128 135,575 100,878 331,763 IT & tech293,619 264,451 369,988 521,629 118,017 245,180 157,851 210,328 Personnel3,583,245 2,939,596 3,444,560 2,574,798 2,147,111 2,650,905 1,958,572 1,787,175 R&D313,995 289,714 234,868 834 4,390 11,756 25,429 4,011 Office cost1,011,161 735,538 644,280 395,516 795,819 438,182 673,047 497,706 Travel285,764 268,897 277,446 101,097 73,765 64,288 38,959 77,011 Professional fees921,662 767,826 1,004,383 399,524 473,874 200,637 386,259 2,117,840 Depreciation and amortization1,441,645 1,449,275 1,651,141 1,334,223 1,663,083 1,496,425 1,315,544 1,294,350 Share based Payments518,990 380,032 262,934 670,844 179,399 165,454 77,523 124,861 Provision for expected credit loss– 67,875 – – – – – – 9,366,802 7,652,220 8,162,742 6,320,023 5,883,586 5,408,402 4,734,061 6,445,045 (Loss) from Operations(6,898,618)(5,682,545)(5,737,790)(2,849,412)(2,508,166)(3,578,429)(2,160,462)(4,192,648) OTHER ITEMS – INCOME/(EXPENSE) Finance cost(939,429)(1,012,658)(944,859)(1,874,601)(1,743,710)(645,685)(1,072,341)(992,806)Other income (expense)271,834 220,377 129,788 42,803 17,104 (62,431)113,777 (2,669)Impairment Loss – PPE– – (178,175)– – – – – Loss on extinguishment of financial liabilities– – – – (1,558,758)– – – Loss on impairment of property and equipment(500)(45,509)– – – – – – Gain (Loss) on disposal of property and equipment– – 2,416 597 – – (1,541)(194,662)Loss on redemption– – – – (672,444)– – – Foreign exchange translation66,583 (72,825)109,779 140,881 (58,413)1,225 92,541 (109,037)Net Loss(7,500,130)(6,593,160)(6,618,840)(4,539,732)(6,524,387)(4,285,320)(3,028,025)(5,491,822) Deferred Tax Income/ (Expense)– – 152,389 – – – 283,457 – Net Loss(7,500,130)(6,593,160)(6,466,451)(4,539,732)(6,524,387)(4,285,320)(2,744,568)(5,491,822) OTHER COMPREHENSIVE LOSS Foreign currency translation adjustment(19,853)(11,838)195,269 – – – – – Net loss and comprehensive loss(7,519,983)(6,604,998)(6,271,183)(4,539,732)(6,524,387)(4,285,320)(2,744,568)(5,491,822) Total Comprehensive loss attributable to Owners of Volatus Aerospace(7,424,305)(6,225,215)(6,016,955)(4,545,679)(6,509,690)(4,241,643)(2,715,484)(5,440,827)Non-controlling interest(95,678)(379,783)(254,228)5,947 (14,697)(43,677)(29,085)(50,994) (7,519,983)(6,604,998)(6,271,183)(4,539,732)(6,524,387)(4,285,320)(2,744,568)(5,491,822) Loss per share Basic and Diluted(0.01)(0.01)(0.01)(0.01)(0.01)(0.01)(0.01)(0.02) RECONCILIATION OF ADJUSTED EBITDA TO NET LOSS Three months ended June 30 20262025Adjusted EBITDA (loss)(4,352,154)(291,460)Finance cost939,429 1,743,710 Depreciation and amortization1,441,645 1,663,083 Share-based payments518,990 179,399 Other expense– 357,120 Loss on extinguishment of financial liabilities– 1,558,758 Loss on impairment of property & equipment500 – Foreign exchange translation(66,583)58,413 R&D313,995 – Loss on modification of convertible debt– 672,444 Net Loss(7,500,130)(6,524,387)ABOUT VOLATUS AEROSPACE INC.Volatus Aerospace Inc. is a Canadian integrated aerospace company providing unmanned aerial systems, aerial intelligence services, autonomy software, and advanced training solutions supporting civil infrastructure, public safety, and defence markets. Through its combination of manufacturing, operations, and technology development, Volatus Aerospace is advancing the adoption of autonomous systems while supporting sovereign aerospace capability development in Canada and allied markets.The Company operates a global platform supporting drone operations, pilot training, equipment sales, and data services while continuing to expand its capabilities in autonomy, remote operations, and next-generation aerial technologies.NOTE REGARDING NON-GAAP MEASURESIn 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, Adjusted EBITDA or Normalized EBITDA, and operating leverage 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,”, “Adjusted EBITDA”, and “operating leverage”, which are non-IFRS measures. Management believes that gross profit, defined as revenue less direct costs, 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 percentage 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, foreign exchange changes, 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. In addition, the Company refers to “operating leverage.” Operating leverage measures how sensitively operating income responds to changes in revenue, based on the proportion of fixed versus variable costs in the Company’s cost structure. A business with high operating leverage typically experiences a more-than-proportionate increase in operating income when revenue grows, while declines in revenue can have an amplified negative effect. Management monitors operating leverage to evaluate margin scalability, understand cost-structure dynamics, and assess the potential impact of volume changes on profitability. 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 STATEMENTThis 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.No securities regulatory authority has either approved or disapproved of the contents of this news release. The Toronto Stock Exchange accepts no responsibility for the adequacy or accuracy of this news release.SOURCE: Volatus Aerospace Inc.For additional information, please contact:Volatus Aerospace Inc.Abhinav Singhvi, Chief Financial Officer+1-833-865-2887 investorrelations@volatusaerospace.comNotice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.