Volatus Aerospace Balance Sheet

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
Cash & Equivalents	41.11	1.56	1.26	3.68	8.81
Cash & Short-Term Investments	41.11	1.56	1.26	3.68	8.81
Cash Growth	2537.41%	24.04%	-65.89%	-58.16%	4535.84%
Accounts Receivable	3.37	4.5	3.74	4.13	0.7
Other Receivables	-	-	0.08	0.2	-
Receivables	3.37	4.5	3.82	4.33	0.7
Inventory	3.27	3.1	2.98	3.76	0.69
Prepaid Expenses	1.15	2.05	1.26	1.28	0.61
Restricted Cash	0.03	0.24	0.43	-	-
Other Current Assets	0.61	0.52	0.77	0.72	0.19
Total Current Assets	49.54	11.98	10.5	13.78	10.99
Property, Plant & Equipment	7.27	11.55	10.64	10.32	5.28
Goodwill	20.74	20.74	0.96	0.96	0.58
Other Intangible Assets	15.11	13.54	4.77	4.13	5.81
Total Assets	92.66	57.8	26.88	29.2	22.67
Accounts Payable	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	8.65	11.55	2.25	2	0.2
Current Portion of Leases	0.89	0.77	0.54	0.33	0.28
Current Income Taxes Payable	-	-	-	-	-0.23
Current Unearned Revenue	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	13.05	20.37	14.7	9.33	3.62
Long-Term Debt	10.89	9.56	7.87	6.9	2.71
Long-Term Leases	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	24.95	31.47	24.34	18.78	7.41
Common Stock	103.05	46.62	13.36	10.96	9.11
Additional Paid-In Capital	0.21	0.21	0.21	0.21	2.99
Retained Earnings	-53.94	-32.58	-19.44	-7.13	-2.35
Comprehensive Income & Other	19.73	12.74	8.82	7.8	4.51
Total Common Equity	69.05	26.99	2.96	11.84	14.27
Minority Interest	-1.55	-0.94	-0.77	-1.78	0.29
Shareholders' Equity	67.7	26.34	2.54	10.42	15.26
Total Liabilities & Equity	92.66	57.8	26.88	29.2	22.67
Total Debt	21.44	24.07	18.73	13.58	4.43
Net Cash (Debt)	19.67	-22.51	-17.47	-9.9	4.37
Net Cash Growth	-	-	-	-	652.97%
Net Cash Per Share	0.04	-0.07	-0.08	-0.09	0.05
Filing Date Shares Outstanding	668.25	468.84	124	113.94	101.84
Total Common Shares Outstanding	668.25	468.84	124	113.94	101.84
Working Capital	36.48	-8.39	-4.19	4.45	7.37
Book Value Per Share	0.10	0.06	0.02	0.10	0.14
Tangible Book Value	33.19	-7.29	-2.77	6.75	7.87
Tangible Book Value Per Share	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.