Record-Breaking Revenue and Growth
FTG achieved record revenue of $48.7 million, a 25.6% increase over Q2 last year. Record adjusted EBITDA of $8.7 million was also reported, up from $6.5 million in Q2 last year. Net earnings rose by 36% to $3.5 million.
Strong Backlog and Bookings
Total bookings for the quarter reached $45.8 million, with a quarter-end backlog of $133.5 million, a 9% rise from the previous year-end.
FLYHT Acquisition Success
FLYHT achieved profitability in Q2 and obtained its first supplemental type certificate from Transport Canada for its AFIRS Edge product on the Boeing 737.
Geographic Sales Expansion
Sales grew by 5% into the U.S., 58% in Canada, 120% in Asia, and 170% into Europe, showing successful global expansion.
Aerospace Business Growth
Aerospace business sales were up 56% in Q2 compared to last year, primarily due to the acquisition of FLYHT.