Volatus Aerospace Balance Sheet

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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
Cash & Equivalents	31.67	41.11	1.56	1.26	3.68	8.81
Cash & Short-Term Investments	31.67	41.11	1.56	1.26	3.68	8.81
Cash Growth	3324.40%	2537.41%	24.04%	-65.89%	-58.16%	4535.84%
Accounts Receivable	3.81	3.37	4.5	3.74	4.13	0.7
Other Receivables	-	-	-	0.08	0.2	-
Receivables	3.81	3.37	4.5	3.82	4.33	0.7
Inventory	4.01	3.27	3.1	2.98	3.76	0.69
Prepaid Expenses	3.09	1.15	2.05	1.26	1.28	0.61
Restricted Cash	0.38	0.03	0.24	0.43	-	-
Other Current Assets	-	0.61	0.52	0.77	0.72	0.19
Total Current Assets	42.97	49.54	11.98	10.5	13.78	10.99
Property, Plant & Equipment	10.85	7.27	11.55	10.64	10.32	5.28
Goodwill	20.74	20.74	20.74	0.96	0.96	0.58
Other Intangible Assets	14.84	15.11	13.54	4.77	4.13	5.81
Total Assets	89.4	92.66	57.8	26.88	29.2	22.67
Accounts Payable	3.56	1.43	3.82	2.84	2.8	1.56
Accrued Expenses	-	1.74	1.58	1.51	0.59	0.27
Short-Term Debt	-	-	0.95	7.08	3.54	0.16
Current Portion of Long-Term Debt	2.09	8.65	11.55	2.25	2	0.2
Current Portion of Leases	0.86	0.89	0.77	0.54	0.33	0.28
Current Income Taxes Payable	-	-	-	-	-	-0.23
Current Unearned Revenue	0.06	0.08	0.62	0.21	0.07	0.51
Other Current Liabilities	-	0.26	1.07	0.25	0	0.86
Total Current Liabilities	6.57	13.05	20.37	14.7	9.33	3.62
Long-Term Debt	16.5	10.89	9.56	7.87	6.9	2.71
Long-Term Leases	4.23	1.01	1.24	0.98	0.83	1.08
Long-Term Deferred Tax Liabilities	-	-	-	0.28	0.62	-
Other Long-Term Liabilities	-	-	0.3	0.51	1.1	0
Total Liabilities	27.31	24.95	31.47	24.34	18.78	7.41
Common Stock	106.2	103.05	46.62	13.36	10.96	9.11
Additional Paid-In Capital	0.21	0.21	0.21	0.21	0.21	2.99
Retained Earnings	-63.06	-53.94	-32.58	-19.44	-7.13	-2.35
Comprehensive Income & Other	19.82	19.73	12.74	8.82	7.8	4.51
Total Common Equity	63.17	69.05	26.99	2.96	11.84	14.27
Minority Interest	-1.08	-1.55	-0.94	-0.77	-1.78	0.29
Shareholders' Equity	62.09	67.7	26.34	2.54	10.42	15.26
Total Liabilities & Equity	89.4	92.66	57.8	26.88	29.2	22.67
Total Debt	23.68	21.44	24.07	18.73	13.58	4.43
Net Cash (Debt)	7.98	19.67	-22.51	-17.47	-9.9	4.37
Net Cash Growth	-	-	-	-	-	652.97%
Net Cash Per Share	0.01	0.04	-0.07	-0.08	-0.09	0.05
Filing Date Shares Outstanding	670.95	668.25	468.84	124	113.94	101.84
Total Common Shares Outstanding	670.95	668.25	468.84	124	113.94	101.84
Working Capital	36.39	36.48	-8.39	-4.19	4.45	7.37
Book Value Per Share	0.09	0.10	0.06	0.02	0.10	0.14
Tangible Book Value	27.59	33.19	-7.29	-2.77	6.75	7.87
Tangible Book Value Per Share	0.04	0.05	-0.02	-0.02	0.06	0.08
Machinery	-	13.76	14.4	12.79	11.09	4.87
Construction In Progress	-	0.32	1.22	0.48	0.1	-
Leasehold Improvements	-	1.29	1.28	0.41	0.4	0.02

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