Core Viewpoint - Firan Technology Group Corporation (FTG) reported strong financial results for the full year and fourth quarter of 2025, highlighting significant growth in revenue, bookings, and adjusted net earnings, while also emphasizing strategic investments and operational progress in its defense and aerospace segments [1][4][13]. Full Year Financial Highlights - Bookings reached $209.9 million in 2025, a 14% increase from 2024 [6]. - Revenue for the year was $191.0 million, representing an 18% increase over 2024 [6]. - Adjusted EBITDA was $32.7 million, up 27% from $25.8 million in 2024 [6]. - Adjusted net earnings increased by 31% to $13.5 million in 2025 [6]. - Operating cash flow less lease payments was $13.7 million [6]. - Net debt stood at $8.3 million, or 0.3 times trailing 12 months EBITDA [6]. Fourth Quarter Financial Highlights - Revenue for Q4 2025 was $51.7 million, a 14.2% increase compared to Q4 2024 [6]. - Gross margin improved to 30.5%, up 220 basis points from 28.3% in Q4 2024 [6]. - Adjusted EBITDA for the quarter was $7.9 million, slightly up from $7.6 million in Q4 2024 [6]. - Adjusted net earnings decreased by $0.2 million to $3.7 million due to increased intangible amortization and unfavorable foreign exchange losses [6]. Business Highlights - FTG continued organic growth while integrating the FLYHT acquisition, focusing on capital investments to enhance shareholder returns [4]. - The defense business saw growth with FTG Circuits qualifying for two significant classified defense programs, with deliveries expected to start in 2026 [7]. - FTG ramped up deliveries for the C919, China's first domestic single-aisle passenger jet, and completed initial deliveries for the De Havilland Canadair 515 aerial firefighting aircraft [7]. - The FLYHT acquisition led to obtaining Supplemental Type Certificates for AFIRS Edge+™ for various aircraft models, with the transition to in-house production underway [7]. - The leadership team was strengthened with new appointments, including a CFO and EVPs for Circuits and Aerospace segments [7].

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].

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]