Appointment further strengthens Canadian, NORAD, and allied defence expertise as Volatus advances its sovereign aerospace and autonomous systems strategyMONTREAL, March 24, 2026 (GLOBE NEWSWIRE) -- Volatus Aerospace Inc. (TSX: FLT) (OTCQB: TAKOF) (FSE: ABB.F) (“Volatus” or the “Company”), a Canadian-controlled global aerospace and defence company delivering integrated uncrewed systems, aerial intelligence, and mission-critical operational services, today announced the appointment of Major General (Ret’d) Ga ...

Company Overview - Volatus Aerospace Inc. is a Canadian-based global aerospace and defence company that provides both crewed and uncrewed operational aviation services [2] - The company was founded in 2018 and has expanded its operations globally, with facilities and offices in Canada, the United Kingdom, the USA, South America, and Norway [2] Services Offered - Volatus delivers a range of services including aerial intelligence, inspection, logistics, surveillance, training, and autonomous aerial solutions [2] - The company supports various sectors such as defence, infrastructure, energy, public safety, national security missions, healthcare, and government operations [2] Recent Developments - Glen Lynch, the CEO of Volatus, along with the executive team, celebrated the company's graduation to the Toronto Stock Exchange (TSX) [1]

Core Viewpoint - Volatus Aerospace Inc. has received approval for its common shares to be listed on the Toronto Stock Exchange (TSX), marking a significant milestone in the company's growth and providing access to a broader audience of institutional and international investors [1][2]. Company Overview - Volatus Aerospace Inc. is a Canadian aerospace and defense technology company that specializes in delivering integrated uncrewed systems, autonomy solutions, and mission-critical operational services [1][3]. - The company offers a range of services including aerial intelligence, inspection, logistics, surveillance, training, and autonomous aerial solutions, supporting sectors such as infrastructure, energy, public safety, healthcare, and government operations [3]. Listing Details - The common shares of Volatus will begin trading on the TSX on March 20, 2026, and will be voluntarily delisted from the TSX Venture Exchange (TSXV) at the close of markets on March 19, 2026 [1]. - The trading symbol for the company will remain "FLT" [1]. CEO Commentary - Glen Lynch, CEO of Volatus, emphasized that graduating to the TSX is a pivotal moment for the company, reflecting its growth and enhancing its ability to support Canadian aerospace innovation and critical infrastructure [2].

Core Insights - Volatus Aerospace Inc. has secured a contract with a major offshore wind power company to develop and commercialize heavy-lift offshore drone delivery operations for cargo transfers between vessels and wind turbine nacelles in international waters [1][4]. Group 1: Operational Model - The program aims to enable safe and reliable aerial delivery of payloads up to 100 kg (220 lbs) directly from vessels to offshore wind turbine nacelles, reducing reliance on traditional manual lifts [2][5]. - The operational model emphasizes centralized control and management from Volatus' Operations Control Center (OCC), ensuring real-time situational awareness and adherence to aviation safety protocols [3][5]. Group 2: Strategic Focus - The agreement aligns with Volatus' strategy to transition advanced offshore drone operations into commercially viable services, highlighting the potential for remotely managed aerial logistics in maritime environments [4][6]. - The company aims to integrate the heavy-lift offshore delivery model into routine wind turbine maintenance, promoting scalability and economic viability for long-term deployment [5][6]. Group 3: Financial Aspects - While the financial terms of the contract remain confidential, it is structured as a funded commercial development and operations program, supporting the commercialization of offshore cargo drone delivery services [6].

Core Viewpoint - Volatus Aerospace Inc. has announced the acquisition of the remaining minority interest in Synergy Aviation Ltd., resulting in 100% ownership, pending approval from the Board of Directors and the TSX Venture Exchange [1][2]. Group 1: Acquisition Details - The acquisition will be financed through the issuance of common shares based on the 30-day volume weighted average price prior to closing [2]. - In 2025, Volatus increased its ownership in Synergy by 7.47% to 58.47% through the issuance of approximately 2.13 million common shares [2]. - The remaining 41.53% interest will be acquired through the issuance of up to approximately 2.59 million common shares, with closing expected around March 15, 2026 [2]. Group 2: Strategic Implications - This acquisition allows Volatus to fully consolidate its commercial aircraft operations under its brand, eliminating minority interests and enhancing governance, financial reporting, and capital allocation [3]. - The consolidation strengthens the integrated aviation platform by improving coordination across crewed aircraft, remotely piloted systems, training, engineering, and manufacturing activities [3]. - The acquisition complements Volatus' expansion of its operational aviation base in Tulsa, Oklahoma, which is set to begin commercial aircraft operations in support of the U.S. oil and gas sector [4]. Group 3: Leadership Perspective - Glen Lynch, CEO of Volatus Aerospace, emphasized that this step enhances alignment across the aerospace platform and strengthens the integration of crewed and uncrewed capabilities, positioning the company for consistent growth in North America and internationally [5].

Core Viewpoint - Volatus Aerospace Inc. has launched SKYDRA™, a Software-as-a-Service (SaaS) platform aimed at enhancing counter-unmanned aircraft system (CUAS) operational planning and simulation, marking a significant step in the company's defense strategy and recurring revenue initiatives [1][2][5]. Company Overview - Volatus Aerospace Inc. is a Canadian aerospace and defense company that provides integrated uncrewed systems and mission-critical operational services, including aerial intelligence, inspection, logistics, surveillance, training, and autonomous aerial solutions [7]. Product Launch - SKYDRA™ is designed to support structured planning, simulation, and readiness exercises for counter-drone operations, utilizing patent-pending intellectual property [2][3]. - The platform offers a secure virtual environment for organizations to conduct planning and simulation exercises prior to operational deployment [3]. Market Potential - The global counter-UAS market is projected to exceed $20 billion by 2030, driven by increasing demand for airspace security, defense modernization, and protection of critical infrastructure [4]. - SKYDRA™ is targeted at armed forces, public safety agencies, and operators of sensitive infrastructure such as airports, ports, and energy facilities [4]. Business Model - The platform will be offered under subscription-based licensing structures, including enterprise deployments and evaluation programs, establishing a recurring software revenue stream for the company [5].

Revenue and Growth - International revenues accounted for 51.3% of total revenues in 2025, up from 47.7% in 2024[436] - Net revenues for 2025 reached $4.53 billion, a 13.9% increase from $3.97 billion in 2024[464] - The Company reported consolidated revenues of $4,528.4 million for the year ended December 31, 2025, representing a 13.9% increase from $3,974.6 million in 2024[560] - Vehicle Payments revenue increased to $2,138.7 million in 2025, up from $2,008.8 million in 2024, while Corporate Payments revenue rose to $1,635.1 million from $1,221.9 million[560] - Revenues from contracts with customers accounted for approximately 84% of consolidated revenues for 2025, slightly down from 85% in 2024[558] - Revenues from foreign exchange payment services represented approximately 10% of consolidated revenues for the year ended December 31, 2025, up from 8% in 2024[555] Financial Position - Total assets increased to $26.41 billion in 2025, up from $17.96 billion in 2024, representing a 47.5% growth[461] - Total current liabilities increased to $14.30 billion in 2025, compared to $8.71 billion in 2024, a growth of 64.8%[461] - Total stockholders' equity increased to $3.93 billion in 2025, compared to $3.15 billion in 2024, a growth of 25%[462] - Cash and cash equivalents grew to $2.41 billion in 2025, up from $1.55 billion in 2024, an increase of 55%[461] - Cash and cash equivalents and restricted cash at the end of 2025 reached $8,991,940, up from $4,456,345 at the end of 2024, representing an increase of approximately 102.4%[471] Income and Earnings - Net income attributable to Corpay for 2025 was $1.07 billion, compared to $1.00 billion in 2024, reflecting a 6.5% increase[464] - Basic earnings per share for 2025 rose to $15.23, up from $14.27 in 2024, marking a 6.7% increase[464] - Net income for the year ended December 31, 2025, was $1,071,948, an increase from $1,003,732 in 2024, and $981,890 in 2023, reflecting a growth of approximately 6.5% year-over-year[471] Debt and Interest - The company had $8.2 billion of variable rate debt outstanding as of December 31, 2025, compared to $6.7 billion in 2024[438] - A 100 basis point change in market interest rates would have changed interest expense by approximately $37 million in 2025 and $22 million in 2024[439] - The company paid $491,373 in interest for 2025, slightly down from $496,098 in 2024, indicating a decrease of about 0.1%[471] Acquisitions and Goodwill - The company completed the acquisition of Alpha Group International plc for a total estimated purchase consideration of $2.4 billion, recording intangible assets of $945.2 million[456] - Goodwill was valued at $7.6 billion as of December 31, 2025, with impairment tests conducted annually[452] - Goodwill increased to $7.56 billion in 2025 from $5.98 billion in 2024, a rise of 26.4%[461] - The preliminary acquisition accounting for Alpha includes goodwill of approximately $1.2 billion and intangibles valued at approximately $994.6 million[604] - Goodwill recorded for the acquisition of Paymerang was approximately $303.9 million, expanding the Company's presence in several markets[612] Cash Flow and Investments - Net cash provided by operating activities was $1,499,901 for 2025, down from $1,940,565 in 2024, indicating a decrease of about 22.7%[471] - The company’s net cash used in investing activities was $1,227,362 in 2025, compared to a cash outflow of $807,477 in 2024, indicating an increase in investment activity[471] - The Company invested approximately $578 million for a 35% equity stake in AvidXchange, with an enterprise valuation of approximately $1.9 billion[608] Risk Management - A hypothetical 10% change in foreign currency exchange rates could have impacted consolidated operating income by approximately $120.6 million in 2025 and $97.8 million in 2024[436] - The company faces risks related to the execution of its strategic plan and macroeconomic conditions, which could affect performance targets[436] - The company does not enter into fuel price derivative instruments, mitigating some revenue risk through agreements with merchants[440] Stock and Compensation - The company repurchased 35,659,347 shares for an aggregate price of $8.6 billion since the start of the stock repurchase program, with $1.5 billion remaining for future repurchases[581] - Stock-based compensation expenses for 2025 totaled $102,637,000, a decrease from $116,724,000 in 2024, reflecting a reduction of approximately 12%[588] - The total unrecognized compensation cost related to outstanding stock awards as of December 31, 2025, was $87,231,000, with stock options having a weighted average recognition period of 1.65 years[589] Impairment and Losses - The Company recognized a goodwill impairment loss of $90 million for the Payroll Card reporting unit due to decreased card usage, inflation, and inability to achieve forecasted operating results[491] - The Company recorded net foreign exchange losses of $29.8 million, $9.2 million, and $4.8 million for the years ended December 31, 2025, 2024, and 2023, respectively[509] - The allowance for credit losses at the end of 2025 was $170.96 million, up from $133.76 million in 2024, reflecting a provision for credit losses of $122.64 million during 2025[531]

Core Viewpoint - Volatus Aerospace Inc. has received conditional approval from the Toronto Stock Exchange for the listing of its common shares, marking a significant milestone in the company's growth and visibility in capital markets [1][3][4] Company Listing - The shares of Volatus will continue to trade under the symbol "FLT" and further details regarding the anticipated listing date will be provided once the remaining requirements are met [2][7] - Graduation to the TSX is expected to enhance the company's visibility among institutional investors and broaden access to capital markets [3][4] Company Strategy and Operations - The CEO of Volatus emphasized that the conditional approval reflects the scale and discipline of the aerospace platform developed by the company, which integrates piloted aviation, remotely piloted aircraft systems, autonomy, and data services [4] - The company aims to optimize its capital structure as it transitions to the TSX, with a proposed share consolidation to enhance institutional participation [5][6] Future Plans - The company intends to seek shareholder approval for a resolution authorizing the Board of Directors to implement a consolidation of the issued and outstanding common shares [5][6] - Final listing approval is contingent upon the company satisfying all TSX listing requirements, with an announcement to confirm the effective listing date to follow [7] About the Company - Volatus Aerospace Inc. is a Canadian-based global aerospace and defense company that provides crewed and uncrewed aerial systems, manufacturing, advanced autonomy capabilities, and mission-critical operational services [8] - The company supports various sectors including infrastructure, energy, public safety, healthcare, and government operations through its aerial intelligence and autonomous aerial solutions [8]

Core Insights - Volatus Aerospace Inc. has appointed Krish Srinivasan as Chief Technology Officer (CTO), enhancing its Executive Leadership Team and aligning with Canada's Defence Industrial Strategy [1][2] Group 1: Leadership and Strategy - The appointment of Mr. Srinivasan strengthens Volatus' engineering and autonomy leadership, focusing on sovereign production, autonomous systems, and supply chain resilience [2] - Mr. Srinivasan has over a decade of experience in autonomous unmanned systems and will oversee Volatus' unified engineering organization across Canada, the United States, and the United Kingdom [2][4] Group 2: Engineering and Development - Volatus is adopting a vertically integrated approach to develop scalable, Canadian-controlled aerospace capabilities for both civil and defence applications [3] - The company is initiating plans for manufacturing, assembly, and integration activities in Mirabel, Quebec, to support national defence priorities and maintain interoperability with allied standards [4] Group 3: Company Overview - Volatus Aerospace provides integrated dual-use aerial solutions for commercial and defence applications, serving industries such as oil and gas, utilities, healthcare, and public safety [5] - The company's mission is to enhance operational efficiency, safety, and resilience through scalable aerial technologies [5]

Core Insights - Volatus Aerospace Inc. is hosting a virtual investor briefing to discuss Canada's Defence Industrial Strategy and its implications for aerospace and uncrewed systems development [1][2] Group 1: Overview of the Defence Industrial Strategy - The briefing will provide a structured overview of the Strategy's Build–Partner–Buy framework and the evolving policy environment supporting domestic industrial capability [2][7] - Volatus has developed regulated aerospace operations across Canada and internationally, invested in industrial expansion initiatives in Québec, and established remote operations infrastructure for mission-critical environments [3][4] Group 2: Company Positioning and Strategy - The CEO of Volatus emphasizes that operational execution is essential for sovereign capability, and the Strategy will favor companies with accredited infrastructure and demonstrated execution [4][6] - The session will clarify how Volatus' operating model aligns with Canada's long-term sovereign capability framework, focusing on manufacturing, remote operations infrastructure, approvals, and capital readiness [7] Group 3: Employee Incentives and Corporate Update - Volatus Aerospace has issued a total of 5,607,030 stock options and Restricted Share Units (RSUs) to align employee incentives with long-term shareholder value [5][8] - The grants are intended to support retention, performance alignment, and long-term value creation, reinforcing a performance-driven culture while maintaining financial discipline [9]