Volatus Aerospace (FLT) AI Stock Analysis

• Market Cap: $375.28M
• Dividend Yield: N/A
• Average Volume (3M): 1.38M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.09
• Revenue Growth: 378.71%
• EPS Growth: 27.52%
• Country: CA
• Employees: 30
• Sector: Industrials
• Sector Strength: 72
• Industry: Computer Hardware
• EPS (TTM): -0.01
• Shares Outstanding: 670,134,500
• 10 Day Avg. Volume: 830,134
• 30 Day Avg. Volume: 1,384,083
• 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 Cap: 0.77
• Enterprise Value/Revenue: 8.62
• Enterprise Value/Gross Profit: 43.56
• Enterprise Value/Ebitda: -63.00
• 1Y Price Target: $0.99
• Price Target Upside: 77.58% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: C$0.62 ▲(11.43% Upside)

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.

Healthy gross margins

A 33.8% gross margin implies solid unit economics for hardware and delivery services, providing a structural buffer as the company scales. If operating expenses are controlled, this level of gross profitability makes durable operating leverage possible and supports path to sustainable earnings.

Improved leverage position

A lower, balanced debt-to-equity around 0.7 reduces insolvency risk and preserves financial flexibility. This structural improvement makes it easier to fund pilots, partnerships, and capex for network expansion without excessive dilution or refinancing risk over the medium term.

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.

Negative operating cash flow

Negative operating cash flow shows the company struggles to convert revenues into cash, increasing reliance on financing for operations. Over months, this can constrain growth initiatives, delay commercialization, and raise refinancing and liquidity risk absent consistent positive cash conversion.

Negative return on equity

Negative ROE signals the business is not generating returns on invested capital, undermining long-term shareholder value creation. Structural negative ROE can impair access to capital on attractive terms and indicates that operational improvements are required before durable profitability is realized.

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-based technologies to gather intelligence data; pipeline integrity monitoring; specialized geomatic services comprising lidar surveys and custom GIS services, including map generation and integrated geographical information consulting services; drone lidar scanning data acquisition and reality capture services; and drone inspection and delivery services. It also provides wildfire services; geomatics that include lidar, photogrammetry, aerial imagery, precision agriculture, change detection, photointerpretation, and gas detection and thermography inspection services; crewed aerial services; Canary Remotely Piloted Aircraft for autonomous cargo transportation; DroneSpot for drone delivery operations; and advanced integrity reporting system (AIRS) 3, which is a software platform for data gathering, analysis, and reporting of oil and gas client infrastructures. In addition, the company offers aerial intelligence, cargo and logistics, and equipment sales and maintenance services; drones, sensors, batteries, drone sets, and related accessories; Aerieport drone nesting station for landing, recharging, and data transfer; and trade-in program, as well as drone pilot training in digital, virtual, and onsite formats to various levels of drone pilots. It serves the oil and gas, energy and utilities, construction and engineering, defense, forestry and conservation, government and public agencies, infrastructure and transportation, mining and aggregates, precision agriculture, property development and maintenance, and public safety industries. Volatus Aerospace Inc. was founded in 1987 and is based in Vaughan, Canada.

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. The company also earns income from pilot programs and trials, allowing potential customers to experience its technology before committing to longer-term contracts. Significant partnerships with various industries bolster its earnings potential, with contracts focusing on healthcare deliveries of medical supplies, as well as collaborations with retailers for last-mile delivery services.

Volatus Aerospace Financial Statement Overview

Summary

Volatus Aerospace faces challenges in profitability and cash flow management despite revenue growth. The company struggles with high operating losses and negative net profit margins, impacting overall financial health.

Income Statement

Volatus Aerospace shows a mixed performance in its income statement. The company has experienced a revenue growth rate of 13.42% in the TTM, indicating a positive growth trajectory. However, profitability remains a significant concern, with negative net profit margins (-52.74%) and EBIT margins (-41.26%) in the TTM. The gross profit margin is moderate at 33.77%, but the company struggles with high operating losses, impacting overall profitability.

Balance Sheet

The balance sheet of Volatus Aerospace reflects a moderate financial position. The debt-to-equity ratio has improved to 0.70 in the TTM, indicating a relatively balanced leverage compared to previous years. However, the return on equity remains negative, highlighting ongoing profitability challenges. The equity ratio is not explicitly calculated, but the company maintains a reasonable level of equity relative to its assets.

Cash Flow

Cash flow analysis reveals significant challenges for Volatus Aerospace. The operating cash flow and free cash flow are both negative, with a free cash flow growth rate of 42.57% in the TTM, showing some improvement. However, the operating cash flow to net income ratio is negative, indicating inefficiencies in converting income into cash. The free cash flow to net income ratio is positive at 1.15, suggesting some ability to generate cash relative to net income.

Breakdown	TTM	Dec 2024	Dec 2023	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

• Technical Analysis Sentiment: Negative
• Last Price: 0.56
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FLT, the sentiment is Negative. The current price of 0.56 is below the 20-day moving average (MA) of 0.64, below the 50-day MA of 0.60, and above the 200-day MA of 0.49, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 42.48 is Neutral, neither overbought nor oversold. The STOCH value of 10.64 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:FLT.

Volatus Aerospace Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MAL	72 Outperform	C$1.19B	26.58	5.64%	0.93%	8.84%	131.58%
MDA	70 Outperform	C$4.85B	42.76	8.88%	―	57.77%	57.55%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
CHR	56 Neutral	C$497.58M	-13.28	2.09%	0.76%	-12.42%	69.23%
DPRO	52 Neutral	C$231.91M	-4.12	-48.13%	―	26.74%	53.14%
FLT	45 Neutral	$375.28M	-15.58	-45.72%	―	378.71%	27.52%
UAV	27 Underperform	C$797.88K	-3.10	―	―	―	15.67%

Volatus Aerospace Corporate Events

Volatus Aerospace Touts Alignment With Shifting U.S. Defence Priorities as It Courts Institutional Investors

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 Aerospace and Defence Symposium in Toronto, where CEO Glen Lynch will appear as a panelist. The company also commented on recent shifts in U.S. defence procurement policy, noting that the Administration’s new Executive Order and a proposed substantial expansion of the Pentagon’s 2027 budget are pushing priorities toward speed of delivery, operational readiness, and stricter performance oversight, trends that favour agile, execution-focused suppliers. With existing U.S. facilities in Syracuse, New York, and a growing presence in Tulsa, Oklahoma supporting utility, energy, and public safety clients, Volatus maintains that its emphasis on real-world deployment, disciplined reinvestment, and scalable operational capacity is well aligned with the evolving U.S. defense policy environment, which it views as constructive for its growth and positioning among non-traditional defence contractors.

The most recent analyst rating on (TSE:FLT) stock is a Hold with a C$0.56 price target. To see the full list of analyst forecasts on Volatus Aerospace stock, see the TSE:FLT Stock Forecast page.

Volatus Aerospace Secures $9M NATO Defence Contract to Boost ISR Training

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 with an initial tranche of $4.5 million, marks a significant milestone in Volatus’ strategy to strengthen its position within Canada’s defence industrial base and the broader NATO ecosystem. It highlights the company’s expanding role as a Canadian provider of secure, commercially derived unmanned systems and training, reinforcing its commitment to enhancing Canada’s defence capabilities and interoperability with allied partners.

The most recent analyst rating on (TSE:FLT) stock is a Buy with a C$1.25 price target. To see the full list of analyst forecasts on Drone Delivery Canada stock, see the TSE:FLT Stock Forecast page.

Volatus Aerospace Strengthens Defense Expertise with New Advisory Appointment

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 Canadian-made uncrewed aerial systems. Coates, a respected leader in defense and security, brings extensive experience from his military career and will provide strategic guidance on defense procurement and emerging capability requirements, strengthening Volatus’ long-term strategic direction in defense and sovereign capability.

The most recent analyst rating on (TSE:FLT) stock is a Buy with a C$0.85 price target. To see the full list of analyst forecasts on Drone Delivery Canada stock, see the TSE:FLT Stock Forecast page.

Volatus Aerospace Reports Record Q3 2025 Financials, Strengthens Market Position

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 achieved operational milestones, including new defense deployments and strategic partnerships, which bolster its market position and support future growth in defense and industrial sectors.

The most recent analyst rating on (TSE:FLT) stock is a Hold with a C$0.59 price target. To see the full list of analyst forecasts on Drone Delivery Canada stock, see the TSE:FLT Stock Forecast page.

Volatus Aerospace Secures $26.4 Million to Enhance Drone Capabilities

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, pursue potential acquisitions, and cover capital expenditures and general corporate purposes. This strategic move is expected to bolster Volatus’s position in the aerospace industry and enhance its capabilities in providing advanced aerial solutions.

The most recent analyst rating on (TSE:FLT) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Drone Delivery Canada stock, see the TSE:FLT Stock Forecast page.

Volatus Aerospace Files Final Prospectus for $20M Public Offering

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 proceeds of $20,010,000. This offering, expected to close on November 26, 2025, is contingent upon receiving necessary approvals, including from the TSX Venture Exchange, and marks a significant step in Volatus’s financial strategy, potentially enhancing its market position and providing capital for future growth initiatives.

The most recent analyst rating on (TSE:FLT) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Drone Delivery Canada stock, see the TSE:FLT Stock Forecast page.

Volatus Aerospace Secures $24.6 Million Financing and Expands Drone Capabilities

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 development of its Mirabel Manufacturing Hub, research and development of drone technologies, and potential acquisitions related to the defense sector. Additionally, Volatus has completed the acquisition of advanced RPAS technologies from Caliburn Holdings LLP, enhancing its capabilities in manufacturing long-endurance, fixed-wing uncrewed aircraft systems for defense and public security sectors.

The most recent analyst rating on (TSE:FLT) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Drone Delivery Canada stock, see the TSE:FLT Stock Forecast page.

Volatus Aerospace Secures $20 Million in Public Offering to Boost Defense Sector Innovations

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, drone technology research for the defense sector, potential defense-related acquisitions, and general corporate purposes. This move is expected to enhance Volatus’s operational capabilities and strengthen its position in the aerospace industry, particularly in defense-related applications.

The most recent analyst rating on (TSE:FLT) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Drone Delivery Canada stock, see the TSE:FLT Stock Forecast page.

Volatus Aerospace Restates Q2 2025 Financial Results with No Impact on Revenue

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 company’s revenue, gross margin, or cash position, reflecting the company’s commitment to transparency and sustainable growth. The restatement aims to strengthen the company’s financial position without impacting its operational metrics, highlighting its focus on maintaining robust corporate governance.

The most recent analyst rating on (TSE:FLT) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Drone Delivery Canada stock, see the TSE:FLT Stock Forecast page.

Volatus Aerospace Strengthens Canada’s Defense Capabilities with Strategic Acquisition

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-endurance capabilities, which will be manufactured at Volatus’s new Mirabel facility, aligning with national defense priorities and expanding domestic manufacturing capacity.

The most recent analyst rating on (TSE:FLT) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Drone Delivery Canada stock, see the TSE:FLT Stock Forecast page.