Volatus Aerospace Income Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	34.2	27.15	34.87	29.77	9.91
Revenue Growth (YoY)	25.99%	-22.15%	17.14%	200.29%	16091.33%
Cost of Revenue	23.1	17.59	23.74	21.43	7.39
Gross Profit	11.1	9.56	11.14	8.35	2.53
Selling, General & Admin	18.28	15.12	14.1	11.89	3.71
Research & Development	0.25	0.04	1.34	0.54	-
Operating Expenses	25.95	20.44	20.2	15.54	4.57
Operating Income	-14.85	-10.89	-9.06	-7.19	-2.04
Interest Expense	-4.67	-2.85	-1.66	-0.48	-0.43
Currency Exchange Gain (Loss)	0.19	0.01	-0.04	-0.16	-0.03
Other Non Operating Income (Expenses)	-0.41	-0.23	-0.1	0.36	0.12
EBT Excluding Unusual Items	-19.74	-13.96	-10.86	-7.47	-2.38
Impairment of Goodwill	-	-	-	-	-1.4
Gain (Loss) on Sale of Assets	0	0.12	0.09	0.01	0.04
Asset Writedown	-0.18	-	-	-	-
Other Unusual Items	-2.23	0.25	0.61	2.08	0.06
Pretax Income	-22.15	-13.59	-10.16	-5.38	-3.68
Income Tax Expense	-0.15	-0.28	-0.46	0.07	-
Earnings From Continuing Operations	-22	-13.31	-9.69	-5.45	-3.68
Minority Interest in Earnings	0.63	0.17	0.23	0.83	-
Net Income	-21.36	-13.14	-9.46	-4.62	-3.68
Net Income to Common	-21.36	-13.14	-9.46	-4.62	-3.68
Shares Outstanding (Basic)	544	303	210	105	84
Shares Outstanding (Diluted)	544	303	210	105	84
Shares Change (YoY)	79.69%	43.85%	100.54%	24.26%	8.53%
EPS (Basic)	-0.04	-0.04	-0.04	-0.04	-0.04
EPS (Diluted)	-0.04	-0.04	-0.04	-0.04	-0.04
Free Cash Flow	-8.75	-13.81	-3.81	-7.06	-1.83
Free Cash Flow Per Share	-0.02	-0.05	-0.02	-0.07	-0.02
Gross Margin	32.45%	35.20%	31.93%	28.03%	25.51%
Operating Margin	-43.43%	-40.11%	-25.99%	-24.17%	-20.63%
Profit Margin	-62.46%	-48.41%	-27.14%	-15.53%	-37.11%
Free Cash Flow Margin	-25.59%	-50.88%	-10.93%	-23.73%	-18.43%
EBITDA	-9.68	-6.73	-5.52	-5.35	-1.87
EBITDA Margin	-28.29%	-24.80%	-15.83%	-17.95%	-18.85%
D&A For EBITDA	5.18	4.15	3.54	1.85	0.18
EBIT	-14.85	-10.89	-9.06	-7.19	-2.04
EBIT Margin	-43.43%	-40.11%	-25.99%	-24.17%	-20.63%
Advertising Expenses	1.16	1.12	1.86	2.23	0.52

Source: S&P Global Market Intelligence. Standard template. Financial Sources.