Volatus Aerospace Corp. (TSXV: VOL) (OTCQB: VLTTF) ("Volatus" or "the Company"), a global leader in the drone industry, is pleased to announce its financial results for the quarter ending September 30, 2022 ("Q3 2022").
The Company generated revenue of $22,558,010 in the first nine months of 2022. The third quarter of drone services, also known as data as a service, witnessed a growth of 16%.
Notable Operational Accomplishments During the Quarter:
"Q3 was an important quarter for Volatus as we continued to scale our investment in the defense sector and higher margin Engineered Solutions," said Glen Lynch, CEO of Volatus. "The quarter also marked the beginning of a transition for our Aviation division as we moved away from passenger activities towards cargo and long linear inspections where drones and eVTOLS's (electric vertical takeoff and landing vehicles) have a much larger role to play."
Webinar
In conjunction with this release, Volatus investor relations will host a webinar on Monday, November 7th at 4:30 PM EST at which time Glen Lynch, Chief Executive Officer, and Abhinav Singhvi, Chief Financial Officer, will review the quarterly results and major milestones with Danielle Gagne, Head of Corporate Communications as moderator. Investors are invited to register for the webinar here.
https://us06web.zoom.us/webinar/register/WN_uAeXAvY2SySzMEJf8FIi5g
Audio Replay Options
An audio replay of the event will be archived on the Investor Relations page of the company's website here.
About Volatus Aerospace:
Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout North America and growing into Latin America and globally. Volatus serves civil, public safety, and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, as well as R&D, design, and manufacturing. Through our subsidiary, Volatus Aviation, we are introducing green and innovative drone solutions to supplement and replace traditional aircraft and helicopters for long-linear inspections such as pipeline, energy, rail, and cargo services. Volatus is committed to carbon neutrality; the fostering of a safe, equitable and inclusive workplace; and responsible governance.
Forward-Looking Statement
This news release contains statements that constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Corporation with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding (i) the business plans and expectations of the Corporation; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Corporation, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects the Corporation's current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances.. The forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Corporation disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
(TSXV: VOL)
(OTCQB: VLTTF)
CONTACT DETAILS
Abhinav Singhvi
+1 833-865-2887
This email address is being protected from spambots. You need JavaScript enabled to view it.
COMPANY WEBSITE
https://volatusaerospace.com
Last Trade: | US$0.15 |
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Market Cap: | US$34.640M |
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