Firan Technology Group Corporation (“FTG”) Announces Second Quarter 2025 Financial Results

Core Insights - Firan Technology Group Corporation (FTG) reported strong financial results for Q2 2025, with significant growth in sales and earnings, driven by organic growth and the integration of the FLYHT acquisition [1][3][14] Financial Highlights - Sales for Q2 2025 reached $48.7 million, a 25.6% increase from $38.8 million in Q2 2024 [4] - Gross margin improved to $15.9 million, up 46.8% from $10.8 million year-over-year, with a gross margin percentage of 32.56%, an increase of 470 basis points [4] - Net earnings attributable to FTG equity holders rose by 36.3% to $3.5 million, with adjusted net earnings increasing by 38.1% to $3.5 million [4][6] - Earnings per share (basic) increased to $0.14, a 27.3% rise from $0.11 in Q2 2024 [4] Operational Highlights - Total bookings for Q2 2025 were $45.8 million, with a backlog of $133.5 million, reflecting a 9% increase from the previous year [6] - Adjusted EBITDA for the quarter was $8.7 million, up from $6.5 million in Q2 2024 [6] - The company maintained a strong balance sheet with net debt of $13.5 million, representing 0.4 times trailing 12 months EBITDA [6] Strategic Developments - The FLYHT acquisition achieved profitability in Q2 2025, indicating strong potential in the commercial aerospace aftermarket segment [7][14] - FTG received a Supplemental Type Certificate (STC) for its AFIRS Edge+™ product on the Boeing 737NG, with plans for additional certifications for other aircraft types [7] - A new aerospace facility in Hyderabad, India is under development, with a target completion date in late 2025 [7] Leadership Changes - Russell David has been appointed to the FTG Board of Directors, bringing extensive experience in corporate finance and M&A advisory [7]