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FLYHT Aerospace Solutions Ltd. (V:FLY)

Business Focus: Aerospace & Defense (NEC)

Sector:  Industrials Industry:  Aerospace & Defense
See Regulatory Filings on SEDAR
Company Contact
Address: 200W, 1144 - 29TH AVENUE NE
Tel: N/A
IR: See website
Key People
Nina Jonsson
Chairman of the Board
William T. Tempany
Interim Chief Executive Officer, Director
Alana Forbes
Chief Financial Officer
Derek Taylor
Vice President - Sales and Marketing
Darrel Deane
Vice President - Solutions
Business Overview
FLYHT Aerospace Solutions Ltd. (FLYHT) is a Canada-based company that provides solutions for the aviation industry. FLYHT's aircraft certified hardware products include Automated Flight Information Reporting System (AFIRS), AFIRS Edge, Tropospheric Airborne Meteorological Data Reporting (TAMDAR) and FLYHT-WVSS-II. AFIRS is a satcom aircraft interface device, which enables real-time streaming of flight information, cockpit voice and black box data streaming. AFIRS Edge is a 5G wireless quick access recorder and satellite data communications device. TAMDAR and the FLYHT-WVSS-II delivers airborne weather and humidity data in real-time. TAMDAR system is a sensor device installed on aircraft that captures temperature, pressure, winds aloft, icing, turbulence and relative humidity. Its hardware products also include the AFIRS Controller, a multi-purpose flight deck control head. It also provides two-way text messaging capabilities to the flight deck through the multi-control display unit.
Financial Overview
For the three months ended 31 March 2022, FLYHT Aerospace Solutions Ltd revenues increased 87% to C$5M. Net loss increased 41% to C$1.3M. Revenues reflect Hardware segment increase from C$832K to C$2.1M, Licensing segment increase from C$182K to C$1.1M, United States & Mexico segment increase from C$1.1M to C$2.2M, Canada segment increase from C$756K to C$1.6M. Higher net loss reflects other increase from C$313K (income) to C$108K (expense).
Reporting Currency: Canadian Dollars
Enterprise value: $25.35M as of Mar 31, 2022
Annual revenue (TTM): $13.66M as of Mar 31, 2022
EBITDA (TTM): -$5.34M as of Mar 31, 2022
Net annual income (TTM): -$6.23M as of Mar 31, 2022
Free cash flow (TTM): -$4.74M as of Mar 31, 2022
Net Debt Last Fiscal Year: $3.98M as of Mar 31, 2022
Shares outstanding: 38,316,876 as of Mar 31, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization