Volatus Aerospace (TSE:FLT)
TSX:FLT
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Volatus Aerospace
(TSX:FLT)
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Rating:45Neutral
Price Target:
C$0.62
▼(-22.00% Downside)
Action:ReiteratedDate:12/19/25
The overall stock score for Volatus Aerospace is primarily influenced by its financial performance challenges, including negative profitability and cash flow inefficiencies. Technical analysis and valuation also reflect a cautious outlook, with neutral momentum indicators and a negative P/E ratio.
Positive Factors
Sustained revenue growth
Mid-teens TTM revenue growth signals ongoing customer adoption of drone logistics solutions and market traction across healthcare, retail and industrial pilots. Sustained top-line expansion supports scale economics, recurring service contracts and long-term revenue diversification.
Negative Factors
Deep operating losses
Persistently large negative margins indicate the core business is not yet profitable and erodes shareholder equity over time. Sustained operating losses require continual external funding, limit reinvestment capacity, and pose a structural barrier to achieving durable free cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained revenue growth
Mid-teens TTM revenue growth signals ongoing customer adoption of drone logistics solutions and market traction across healthcare, retail and industrial pilots. Sustained top-line expansion supports scale economics, recurring service contracts and long-term revenue diversification.
Read all positive factors
Volatus Aerospace (FLT) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$538.17M
Dividend YieldN/A
Average Volume (3M)1.38M
Price to Earnings (P/E)―
Beta (1Y)1.18
Revenue Growth378.71%
EPS Growth27.52%
CountryCA
Employees30
SectorIndustrials
Sector Strength72
IndustryComputer Hardware
Share Statistics
EPS (TTM)-0.01
Shares Outstanding672,708,250
10 Day Avg. Volume830,134
30 Day Avg. Volume1,384,083
Financial Highlights & Ratios
PEG Ratio-0.32
Price to Book (P/B)1.33
Price to Sales (P/S)1.33
P/FCF Ratio-2.61
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$1.00Price Target Upside24.42% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.02
Revenue Forecast (FY)C$53.77M
Volatus Aerospace Business Overview & Revenue Model
Company Description
Volatus Aerospace Inc. provides integrated drone solutions in Canada, the United States, the United Kingdom, and Norway. The company offers UAV drone services; surveillance as a service, which utilizes an integrated array of aerial and ground-base...
How the Company Makes Money
Drone Delivery Canada generates revenue through multiple streams, including the sale and leasing of its drone delivery systems, service contracts with businesses for logistics solutions, and partnerships with government and private sector clients....
Volatus Aerospace Earnings Call Summary
Earnings Call Date:May 29, 2025
(Q1-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted significant operational improvements and strategic milestones, such as BVLOS expansion and cost reductions, while acknowledging challenges like revenue and profit margin declines due to seasonal and geopolitical factors.Positive Updates
Expansion of Beyond Visual Line of Sight (BVLOS) Operations
Volatus Aerospace has achieved significant milestones with the expansion of BVLOS operations across Canada, allowing nationwide approvals for daytime and nighttime operations in uncontrolled airspace.
Negative Updates
Revenue Decline
Q1 2025 revenue of $5.7 million marked a decline from $6.6 million in Q1 2024, attributed primarily to seasonal weather impacts and geopolitical uncertainties.
Read all updates
Q1-2025 Updates
Positive
Negative
Expansion of Beyond Visual Line of Sight (BVLOS) Operations
Volatus Aerospace has achieved significant milestones with the expansion of BVLOS operations across Canada, allowing nationwide approvals for daytime and nighttime operations in uncontrolled airspace.
Read all positive updates
Company Guidance
During the Volatus Aerospace Q1 2025 earnings call, the company reported $5.7 million in revenue, a decrease from $6.6 million in Q1 2024, primarily due to seasonal weather impacts and geopolitical uncertainties. Despite the revenue decline, Volatus achieved a 5% improvement in equipment gross margin and maintained a strong services gross margin of 42%, resulting in an overall blended gross margin of 32%. The pro forma loss decreased from $4.4 million in Q1 2024 to $3.36 million in Q1 2025, driven by a $1.78 million reduction in post-merger costs. Operating expenses showed significant improvements, with marketing expenses reduced by 54%, IT and tech costs down by 5%, and office costs decreased by 25%. Personnel costs rose by 11% to support future growth. The company achieved a 30% improvement in normalized EBITDA year-over-year, with a 70% improvement on a pro forma basis, and generated $1.45 million in cash from operating activities. Volatus is optimistic about future performance, expecting to become EBITDA positive by mid-year 2025, supported by a strong sales pipeline and new regulatory approvals for beyond visual line of sight (BVLOS) operations across Canada.Volatus Aerospace Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
50
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 33.69M | 27.15M | 34.87M | 29.77M | 9.91M | 265.26K |
| Gross Profit | 6.67M | 9.56M | 11.14M | 8.35M | 2.53M | 4.32K |
| EBITDA | -4.61M | -5.91M | -4.46M | -3.03M | -2.87M | 1.26M |
| Net Income | -14.77M | -13.14M | -9.46M | -4.62M | -3.68M | 440.10K |
Balance Sheet | ||||||
| Total Assets | 72.59M | 57.80M | 26.88M | 19.75M | 32.96M | 29.37M |
| Cash, Cash Equivalents and Short-Term Investments | 17.83M | 1.56M | 1.68M | 15.30M | 27.67M | 23.46M |
| Total Debt | 22.52M | 24.07M | 18.73M | 220.01K | 410.60K | 484.14K |
| Total Liabilities | 26.80M | 31.47M | 24.34M | 1.23M | 2.20M | 2.27M |
| Stockholders Equity | 47.08M | 27.28M | 3.31M | 18.52M | 30.76M | 27.10M |
Cash Flow | ||||||
| Free Cash Flow | -23.44M | -13.88M | -3.39M | -12.12M | -12.57M | -9.01M |
| Operating Cash Flow | -21.57M | -12.43M | -1.65M | -11.94M | -11.89M | -8.35M |
| Investing Cash Flow | -1.17M | -664.71K | -2.03M | -176.99K | -687.37K | -658.24K |
| Financing Cash Flow | 40.13M | 13.40M | 1.68M | -256.06K | 16.78M | 22.70M |
Volatus Aerospace Technical Analysis
Positive
0.80
Price Trends
0.68
Positive
0.64
Positive
0.60
Positive
Market Momentum
0.05
Positive
53.15
Neutral
43.66
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FLT, the sentiment is Positive. The current price of 0.8 is below the 20-day moving average (MA) of 0.80, above the 50-day MA of 0.68, and above the 200-day MA of 0.60, indicating a neutral trend. The MACD of 0.05 indicates Positive momentum. The RSI at 53.15 is Neutral, neither overbought nor oversold. The STOCH value of 43.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:FLT.
Volatus Aerospace Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | C$529.66M | 7.89 | 14.89% | 0.76% | -12.42% | 69.23% | |
72 Outperform | C$1.18B | 18.44 | 5.52% | 0.93% | 8.84% | 131.58% | |
71 Outperform | C$4.67B | 30.51 | 8.88% | ― | 57.77% | 57.55% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
45 Neutral | C$538.17M | -18.74 | -45.72% | ― | 378.71% | 27.52% | |
45 Neutral | C$152.82M | -6.53 | -48.00% | ― | 26.74% | 53.14% |
* Industrials Sector Average
TSE:FLT
Volatus Aerospace
0.80
0.62
344.44%
TSE:CHR
Chorus Aviation
22.62
2.87
14.54%
TSE:MAL
Magellan Aerospace
20.70
7.93
62.07%
TSE:DPRO
Draganfly
6.57
2.20
50.34%
TSE:MDA
MDA Space Ltd
36.95
8.47
29.74%
Volatus Aerospace Corporate Events
Business Operations and Strategy
Volatus Aerospace Touts Alignment With Shifting U.S. Defence Priorities as It Courts Institutional Investors
Positive
Jan 12, 2026
Volatus Aerospace said its senior executives will engage with institutional investors at several high-profile events in January, including the Needham Growth Conference in New York, the AlphaNorth Capital Event in the Bahamas, and the RBC Canadian...
Business Operations and Strategy
Volatus Aerospace Secures $9M NATO Defence Contract to Boost ISR Training
Positive
Dec 15, 2025
Volatus Aerospace has secured a CAD $9 million defence contract from a NATO partner to supply a next-generation interim training system for Intelligence, Surveillance, and Reconnaissance (ISR) operations. This contract, structured over two years w...
Business Operations and StrategyExecutive/Board Changes
Volatus Aerospace Strengthens Defense Expertise with New Advisory Appointment
Positive
Dec 4, 2025
Volatus Aerospace has appointed Lieutenant-General (Ret’d) Christopher J. Coates to its Board of Advisors, enhancing its defense expertise as it aims to support the Canadian Armed Forces, NORAD modernization, and allied defense partners with...
Business Operations and StrategyFinancial Disclosures
Volatus Aerospace Reports Record Q3 2025 Financials, Strengthens Market Position
Positive
Dec 1, 2025
Volatus Aerospace Inc. announced record financial results for Q3 2025, with a 60% increase in quarterly revenue year-over-year, driven by strong equipment sales in the defense sector. The company improved its liquidity position significantly and a...
Business Operations and StrategyPrivate Placements and Financing
Volatus Aerospace Secures $26.4 Million to Enhance Drone Capabilities
Positive
Nov 26, 2025
Volatus Aerospace Inc. has successfully closed a $26,391,500 financing round through a public offering and private placement. The funds will be used to develop the Mirabel Manufacturing Hub, advance drone technologies for the defense sector, pursu...
Private Placements and FinancingRegulatory Filings and Compliance
Volatus Aerospace Files Final Prospectus for $20M Public Offering
Positive
Nov 22, 2025
Volatus Aerospace Inc. has announced the filing of a final short form prospectus in connection with its bought deal public offering, which involves the distribution of over 33 million common voting shares at $0.60 per share, aiming to raise gross ...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Volatus Aerospace Secures $24.6 Million Financing and Expands Drone Capabilities
Positive
Nov 10, 2025
Volatus Aerospace Inc., a company engaged in aerospace and defense manufacturing, has announced a non-brokered private placement of up to $4.66 million, bringing its total financing to over $24.6 million. This financing will support the developmen...
Business Operations and StrategyPrivate Placements and Financing
Volatus Aerospace Secures $20 Million in Public Offering to Boost Defense Sector Innovations
Positive
Nov 4, 2025
Volatus Aerospace Inc. has announced a $20 million bought deal public offering, with Stifel Nicolaus Canada Inc. acting as the lead underwriter. The proceeds from this offering will be used for the development of the Mirabel Manufacturing Hub, dro...
Financial Disclosures
Volatus Aerospace Restates Q2 2025 Financial Results with No Impact on Revenue
Neutral
Nov 3, 2025
Volatus Aerospace Inc. announced a restatement of its Q2 2025 financial results due to a one-time non-cash accounting adjustment related to restructuring its balance sheet. This adjustment, amounting to $2,231,202, does not affect the company̵...
Business Operations and StrategyM&A Transactions
Volatus Aerospace Strengthens Canada’s Defense Capabilities with Strategic Acquisition
Positive
Oct 27, 2025
Volatus Aerospace has acquired advanced RPAS technologies from Caliburn Holdings, enhancing Canada’s sovereign aerospace capabilities and supporting allied defense requirements. This acquisition includes scalable UAS platforms with long-endu...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.