Volatus Aerospace Third Quarter Revenue of 10.5 Million Canadian Dollars Up 24.9 Percent From Second Quarter: Contract Value About 101.7 Million Through 2031
Volatus Aerospace released its third quarter 2026 results on November 10. All figures in the release are in Canadian dollars. Revenue was 10,512,712 dollars, up 24.9 percent from the second quarter and 0.9 percent below the prior year quarter.
Gross profit was 3,191,252 dollars, a gross margin of 30.4 percent, compared with 32.7 percent a year earlier. Net loss was 6,182,288 dollars, compared with a net loss of 4,539,732 dollars a year earlier. Adjusted EBITDA loss narrowed 34.3 percent from the second quarter to 2,861,177 dollars.
Cash at September 30 was 50,605,356 dollars and working capital was 57,762,322 dollars. Services and training accounted for 54.7 percent of third quarter revenue and products and equipment 45.3 percent.
As of November 10, total contract value was approximately 101.7 million dollars, expected to be executed through 2031. Of that, 75.7 million dollars relates to signed contracts and multi-year agreements, and up to 26 million dollars represents customer options.
On September 10 the company was awarded a five-year Government of Canada contract to supply low-cost tactical intelligence, surveillance and reconnaissance uncrewed aircraft systems to the Canadian Armed Forces, with an initial order of 100 systems and options for up to 4,900 additional systems. Its 53,000 square foot Mirabel, Quebec manufacturing facility was inaugurated on September 29.
Subsequent to the quarter, on October 7 the company completed delivery of the initial tranche of approximately 4.5 million dollars under its NATO-allied training system contract, and the customer has begun exercising its option on a second tranche of up to approximately 4.5 million dollars, exercisable through the end of 2027.
Published by GSM · USA (original Chinese edition)
Photo: 图：户外进行的一次无人机（无人航空系统）训练作业。BLM Oregon & Washington 供图，公共领域，经 Wikimedia Commons / Photo: BLM drone training (34216006294). By BLM Oregon & Washington, public domain, via Wikimedia Commons
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