Volatus Aerospace Income Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	27.15	34.87	29.77	9.91	0.06
Revenue Growth (YoY)	-22.15%	17.14%	200.29%	16091.33%	-
Cost of Revenue	17.59	23.74	21.43	7.39	0.06
Gross Profit	9.56	11.14	8.35	2.53	0
Selling, General & Admin	15.12	14.1	11.89	3.71	0.06
Research & Development	0.04	1.34	0.54	-	-
Operating Expenses	20.44	20.2	15.54	4.57	0.06
Operating Income	-10.89	-9.06	-7.19	-2.04	-0.06
Interest Expense	-2.85	-1.66	-0.48	-0.43	-
Currency Exchange Gain (Loss)	0.01	-0.04	-0.16	-0.03	-0
Other Non Operating Income (Expenses)	-0.23	-0.1	0.36	0.12	-0
EBT Excluding Unusual Items	-13.96	-10.86	-7.47	-2.38	-0.06
Impairment of Goodwill	-	-	-	-1.4	-
Gain (Loss) on Sale of Investments	-	-	-	-	0.49
Gain (Loss) on Sale of Assets	0.12	0.09	0.01	0.04	-
Other Unusual Items	0.25	0.61	2.08	0.06	-
Pretax Income	-13.59	-10.16	-5.38	-3.68	0.44
Income Tax Expense	-0.28	-0.46	0.07	-	-
Earnings From Continuing Operations	-13.31	-9.69	-5.45	-3.68	0.44
Minority Interest in Earnings	0.17	0.23	0.83	-	0
Net Income	-13.14	-9.46	-4.62	-3.68	0.44
Net Income to Common	-13.14	-9.46	-4.62	-3.68	0.44
Shares Outstanding (Basic)	303	210	105	84	77
Shares Outstanding (Diluted)	303	210	105	84	78
Shares Change (YoY)	43.85%	100.54%	24.26%	8.53%	-
EPS (Basic)	-0.04	-0.04	-0.04	-0.04	0.01
EPS (Diluted)	-0.04	-0.04	-0.04	-0.04	0.01
Free Cash Flow	-13.81	-3.81	-7.06	-1.83	-0.1
Free Cash Flow Per Share	-0.05	-0.02	-0.07	-0.02	-0.00
Gross Margin	35.20%	31.93%	28.03%	25.51%	7.05%
Operating Margin	-40.11%	-25.99%	-24.17%	-20.63%	-96.36%
Profit Margin	-48.41%	-27.14%	-15.53%	-37.11%	718.77%
Free Cash Flow Margin	-50.88%	-10.93%	-23.73%	-18.43%	-161.77%
EBITDA	-6.73	-5.52	-5.35	-1.87	-
EBITDA Margin	-24.80%	-15.83%	-17.95%	-18.85%	-
D&A For EBITDA	4.15	3.54	1.85	0.18	-
EBIT	-10.89	-9.06	-7.19	-2.04	-0.06
EBIT Margin	-40.11%	-25.99%	-24.17%	-20.63%	-96.36%
Advertising Expenses	1.12	1.86	2.23	0.52	0.01

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.