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

Core Viewpoint - Firan Technology Group Corporation (FTG) reported strong financial results for Q3 2025, demonstrating organic growth and successful integration of the FLYHT acquisition, while strategically investing for future shareholder returns [1][3][11]. Financial Highlights - Sales for Q3 2025 reached $47.7 million, a 10.8% increase from $43.1 million in Q3 2024 [4][5]. - Gross margin improved to $14.5 million, up 24.6% year-over-year, with a gross margin percentage of 30.35%, an increase of 337 basis points [4][5]. - Net earnings to FTG equity holders were $2.8 million, slightly up by 0.1% from the previous year, while adjusted net earnings rose by 8.3% to $3.0 million [4][5]. - Earnings per share (basic) decreased by 8.3% to $0.11, while diluted earnings per share remained stable at $0.11 [4][7]. Operational Highlights - Total bookings for Q3 reached $51.5 million, resulting in a Book-to-Bill ratio of 1.08, indicating strong demand [5]. - The backlog at the end of the quarter was $137.1 million, reflecting a 12% increase from the previous year [5]. - Adjusted EBITDA for the quarter was $7.7 million, up from $7.2 million in Q3 2024, despite a foreign exchange loss of $0.6 million [5][10]. Strategic Developments - The company received a Supplemental Type Certificate (STC) from EASA for the AFIRS Edge+ product, facilitating its global deployment on Airbus A319/320/321 aircraft [6]. - FLYHT achieved its first sale of the AFIRS Edge+ product to an airline in Asia, marking a significant milestone [6]. - FTG initiated new qualification orders for high-volume US defense programs, indicating a focus on expanding its defense sector presence [6]. Leadership Changes - The organization strengthened its leadership with the appointment of Drew Knight as the new CFO, replacing Jamie Crichton, who announced his retirement [6].