Flyht Aerospace Solutions Ltd. (TSE:FLY) has released an update.
FLYHT Aerospace Solutions Ltd. reported its full year 2023 financials with a strong emphasis on a 31% growth in SaaS revenue, reaching nearly $10.7 million despite an overall revenue decline and a non-repeat high margin licensing order. The company is actively investing in R&D for its 5G aviation solutions and weather businesses, with recent progress including the installation of the AFIRS Edge on Airbus A320 and a partnership with NOAA for the deployment of FLYHT-WVSS-II sensors. As 2024 begins, FLYHT is entering with a healthy cash balance, indicating disciplined resource management and a focus on growth opportunities in 5G technologies.
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