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Volatus Aerospace Inc.

Financial Statements (IFRS) · Amounts in CAD
5 10 All
Income Statement
Balance Sheet
Cash Flow
Line Item FY 2024Dec 31, 2024 FY 2023Dec 31, 2023 FY 2022Dec 31, 2022 FY 2021Dec 31, 2021
Total Revenue 27.1M 34.9M 29.8M 9.9M
Operating Revenue 27.1M 34.9M 29.8M 9.9M
Cost Of Revenue 17.6M 23.7M 21.4M 7.4M
Gross Profit 9.6M 11.1M 8.3M 2.5M
Selling General And Administration 9.0M 9.6M 9.1M 3.1M
General And Administrative Expense 7.9M 7.7M 6.9M 2.6M
Research And Development 41,279 1.3M 541,023 0.00
Depreciation And Amortization In Income Statement 4.8M 4.0M 1.9M 401,433
Other Operating Expenses 6.5M 5.3M 4.0M 977,290
Operating Expense 20.4M 20.2M 15.5M 4.5M
Operating Income -10.9M -9.1M -7.2M -2.0M
EBIT -10.7M -8.5M -4.9M -3.3M
Interest Expense 2.9M 1.7M 479,006 410,229
Interest Expense Non Operating 2.9M 1.7M 479,006 410,229
Net Interest Income -2.9M -1.8M -526,237 -438,954
Other Income Expense 229,650 681,637 2.3M -1.3M
Other Non Operating Income Expenses -146,568 15,405 411,502 131,785
Special Income Charges 363,318 701,321 2.1M -1.4M
Restructuring And Mergern Acquisition -247,661 -608,539 -2.1M --
Gain On Sale Of Security 12,900 -35,089 -157,460 -25,958
Pretax Income -13.6M -10.2M -5.4M -3.7M
Tax Provision -283,457 -464,216 71,311 --
Tax Effect Of Unusual Items 7,845 30,447 506,078 0.00
Net Income From Continuing And Discontinued Operation -13.1M -9.5M -4.6M -3.7M
Net Income From Continuing Operation Net Minority Interest -13.1M -9.5M -4.6M -3.7M
Net Income Including Noncontrolling Interests -13.3M -9.7M -5.4M -3.7M
Minority Interests 168,720 229,583 826,538 897,578
Net Income Common Stockholders -13.1M -9.5M -4.6M -3.7M
Net Income -13.1M -9.5M -4.6M -3.7M
EBITDA -5.9M -4.5M -3.0M -2.9M
Normalized EBITDA -6.3M -5.1M -5.0M -1.5M
Reconciled Depreciation 4.8M 4.0M 1.8M 401,433
Basic EPS -0.04 -0.04 -0.02 -0.02
Diluted EPS -0.04 -0.04 -0.02 -0.02
Basic Average Shares 302.7M 210.4M 187.3M 178.8M
Diluted Average Shares 302.7M 210.4M 187.3M 178.8M
Total Unusual Items 376,218 666,232 1.9M -1.4M
Total Unusual Items Excluding Goodwill 376,218 666,232 1.9M -1.4M
Tax Rate For Calcs 0.02 0.05 0.26 0.00
Normalized Income -13.5M -10.1M -6.0M -2.3M
Depreciation Amortization Depletion Income Statement 4.8M 4.0M 1.9M 401,433
Depreciation Income Statement -- -- 1.4M 401,433
Diluted NI Availto Com Stockholders -13.1M -9.5M -4.6M -3.7M
Gain On Sale Of Ppe 115,657 92,782 9,969 37,006
Impairment Of Capital Assets -- -- 0.00 1.4M
Net Income Continuous Operations -13.3M -9.7M -5.4M -3.7M
Net Non Operating Interest Income Expense -2.9M -1.8M -526,237 -438,954
Other Gand A -- 479,163 110,015 72,300
Reconciled Cost Of Revenue 17.6M 23.7M 21.4M 7.4M
Salaries And Wages 7.9M 7.7M 6.9M 2.5M
Selling And Marketing Expense 1.1M 1.9M 2.2M 521,250
Total Expenses 38.0M 43.9M 37.0M 11.9M
Total Operating Income As Reported -10.9M -9.1M -6.7M -2.0M
Total Other Finance Cost 81,108 110,496 47,231 28,725
Line Item FY 2024Dec 31, 2024 FY 2023Dec 31, 2023 FY 2022Dec 31, 2022 FY 2021Dec 31, 2021
Cash And Cash Equivalents 1.6M 1.3M 3.7M 8.8M
Cash Cash Equivalents And Short Term Investments 1.6M 1.3M 3.7M 8.8M
Cash Financial 1.6M 1.3M 3.7M 8.8M
Accounts Receivable 4.4M 3.5M 4.1M 698,355
Receivables 4.5M 3.8M 4.3M 698,355
Inventory 3.1M 3.0M 3.8M 686,610
Prepaid Assets 2.3M 1.6M 1.6M 801,134
Other Current Assets 265,153 436,782 423,348 27,484
Current Assets 12.0M 10.5M 13.8M 11.0M
Gross PPE 20.4M 16.1M 13.1M 5.3M
Accumulated Depreciation -8.9M -5.4M -2.8M -1.1M
Net PPE 11.6M 10.6M 10.3M 5.3M
Goodwill 20.7M 963,604 963,604 856,957
Goodwill And Other Intangible Assets 34.3M 5.7M 5.1M 2.5M
Other Intangible Assets 13.5M 4.8M 4.1M 1.6M
Investments And Advances -- -- -- 0.00
Long Term Equity Investment -- -- -- 0.00
Other Non Current Assets -- -1.00 -1.00 --
Total Non Current Assets 45.8M 16.4M 15.4M 7.7M
Total Assets 57.8M 26.9M 28.2M 18.7M
Current Debt 12.5M 9.3M 5.5M 202,136
Current Debt And Capital Lease Obligation 13.3M 9.9M 5.9M 486,787
Accounts Payable 3.8M 2.8M 2.8M 1.6M
Payables 3.8M 2.8M 2.8M 2.2M
Payables And Accrued Expenses 5.4M 4.4M 3.4M 2.5M
Current Accrued Expenses 1.6M 1.5M 592,825 236,806
Current Deferred Revenue 1.6M 283,591 73,471 432,096
Other Current Liabilities 144,078 182,024 1.00 233,169
Current Liabilities 20.4M 14.7M 9.3M 3.6M
Long Term Debt 9.6M 7.9M 6.9M 2.7M
Long Term Debt And Capital Lease Obligation 10.8M 8.9M 7.7M 3.8M
Long Term Capital Lease Obligation 1.2M 978,884 826,038 1.1M
Other Non Current Liabilities 297,977 507,692 104,545 1.00
Total Non Current Liabilities Net Minority Interest 11.1M 9.6M 8.4M 4.0M
Total Liabilities Net Minority Interest 31.5M 24.3M 17.8M 7.7M
Common Stock 46.6M 13.4M 11.0M 9.1M
Capital Stock 46.9M 13.7M 11.3M 9.8M
Additional Paid In Capital 211,831 211,831 211,831 211,831
Retained Earnings -32.6M -19.4M -7.1M -2.5M
Common Stock Equity 27.0M 3.0M 11.8M 11.3M
Stockholders Equity 27.3M 3.3M 12.2M 12.0M
Total Equity Gross Minority Interest 26.3M 2.5M 10.4M 11.1M
Minority Interest -938,870 -770,150 -1.8M -965,611
Total Capitalization 36.8M 11.2M 19.1M 14.7M
Net Tangible Assets -7.0M -2.4M 7.1M 9.6M
Tangible Book Value -7.3M -2.8M 6.8M 8.9M
Working Capital -8.4M -4.2M 4.4M 7.4M
Invested Capital 49.1M 20.2M 24.3M 14.2M
Total Debt 24.1M 18.7M 13.6M 4.3M
Net Debt 20.5M 16.0M 8.7M --
Share Issued 468.8M 221.3M 203.4M 178.8M
Ordinary Shares Number 468.8M 221.3M 203.4M 178.8M
Buildings And Improvements 3.2M 2.3M 1.4M --
Capital Lease Obligations 2.0M 1.5M 1.2M 1.4M
Construction In Progress 1.2M 483,269 102,235 --
Current Capital Lease Obligation 765,498 542,298 325,950 284,651
Current Deferred Liabilities 1.6M 283,591 73,471 442,096
Finished Goods -- 3.0M 3.8M --
Investmentin Financial Assets -- -- -- 0.00
Investmentsin Associatesat Cost -- -- -- 0.00
Leases 1.3M 405,975 400,725 17,695
Line Of Credit 0.00 6.0M 3.2M --
Machinery Furniture Equipment 11.2M 10.3M 8.5M 4.3M
Non Current Deferred Liabilities 0.00 283,130 619,511 260,319
Non Current Deferred Taxes Liabilities 0.00 283,130 619,511 260,319
Other Current Borrowings 12.5M 3.4M 2.4M 202,136
Other Equity Interest 12.7M 8.8M 7.8M 4.5M
Other Payable -- -- 523,120 885,138
Other Properties 3.5M 2.6M 2.7M 5.3M
Other Receivables 75,760 269,880 73,523 --
Preferred Stock 286,188 351,764 352,634 704,322
Preferred Stock Equity 286,188 351,764 352,634 704,322
Properties 0.00 0.00 0.00 0.00
Receivables Adjustments Allowances 0.00 -17,566 0.00 --
Restricted Cash 244,908 425,659 -- --
Taxes Receivable 0.00 56,778 200,000 --
Total Tax Payable -- -- -318,460 -226,419
Treasury Shares Number -- 0.00 -- --
Line Item FY 2024Dec 31, 2024 FY 2023Dec 31, 2023 FY 2022Dec 31, 2022 FY 2021Dec 31, 2021
Operating Cash Flow -12.4M -2.1M -7.1M -1.6M
Cash Flow From Continuing Operating Activities -12.4M -2.1M -7.1M -1.6M
Depreciation And Amortization 4.8M 4.0M 1.8M 401,433
Depreciation Amortization Depletion 4.8M 4.0M 1.8M 401,433
Stock Based Compensation 531,028 723,804 1.2M 459,152
Deferred Tax -283,457 -464,216 71,311 --
Deferred Income Tax -283,457 -464,216 71,311 --
Change In Working Capital -6.8M 2.2M -3.7M -283,156
Change In Receivables -139,429 195,508 -918,417 185,640
Change In Inventory -120,045 778,399 -541,251 -226,646
Change In Payables And Accrued Expense 700,397 835,637 -646,988 901,765
Change In Other Working Capital 373,839 72,418 -358,625 -474,611
Change In Other Current Liabilities -7.3M 169,317 -936,357 -165,860
Other Non Cash Items 2.7M 1.2M -1.2M 112,127
Capital Expenditure -1.4M -1.7M -73,216 -277,808
Purchase Of PPE -1.4M -1.7M -73,216 -254,343
Net PPE Purchase And Sale -1.4M -1.7M 48,434 -254,343
Purchase Of Business -- -299,000 -943,548 -1.3M
Sale Of Business 782,894 -- -- --
Investing Cash Flow -664,714 -2.0M -895,114 -1.6M
Cash Flow From Continuing Investing Activities -664,714 -2.0M -895,114 -1.6M
Issuance Of Debt 15.0M 6.2M 2.6M 4.1M
Repayment Of Debt -3.9M -4.5M -3.2M -286,467
Net Issuance Payments Of Debt 11.1M 1.7M -510,596 3.8M
Issuance Of Capital Stock 2.3M 0.00 3.7M 0.00
Repurchase Of Capital Stock -65,576 -870.00 -351,688 0.00
Net Common Stock Issuance 2.3M 0.00 3.7M 0.00
Financing Cash Flow 13.4M 1.7M 2.9M 11.8M
Cash Flow From Continuing Financing Activities 13.4M 1.7M 2.9M 11.8M
Changes In Cash 302,166 -2.4M -5.1M 8.6M
Beginning Cash Position 1.3M 3.7M 8.8M 189,973
End Cash Position 1.6M 1.3M 3.7M 8.8M
Free Cash Flow -13.9M -3.8M -7.1M -1.9M
Amortization Cash Flow 1.1M 871,167 -- --
Amortization Of Intangibles 1.1M 871,167 -- --
Asset Impairment Charge -- 0.00 17,162 1.4M
Change In Prepaid Assets -241,906 197,976 -251,711 -503,444
Common Stock Issuance 2.3M 0.00 3.7M 0.00
Depreciation 3.7M 3.2M 1.4M 401,433
Gain Loss On Sale Of PPE -115,657 -92,782 -414.00 37,006
Interest Paid Cfo -- 165,057 136,520 --
Long Term Debt Issuance 15.0M 6.2M 2.6M 4.1M
Long Term Debt Payments -3.9M -4.5M -3.2M -286,467
Net Business Purchase And Sale 782,894 -299,000 -943,548 -1.3M
Net Foreign Currency Exchange Gain Loss -- -- 0.00 -19,874
Net Income From Continuing Operations -13.3M -9.7M -5.4M -3.7M
Net Intangibles Purchase And Sale -70,972 0.00 0.00 -23,465
Net Long Term Debt Issuance 11.1M 1.7M -510,596 3.8M
Net Other Financing Charges -- -- -- -30,000
Net Preferred Stock Issuance -65,576 -870.00 -351,688 0.00
Operating Gains Losses -115,657 -92,782 -414.00 17,132
Preferred Stock Payments -65,576 -870.00 -351,688 0.00
Proceeds From Stock Option Exercised 27,778 0.00 5,063 8.0M
Purchase Of Intangibles -70,972 0.00 0.00 -23,465
Sale Of PPE -- -- 48,434 --
Unrealized Gain Loss On Investment Securities -- -- -- 0.00
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