About Cabling Installation & Maintenance

Our mission: Bringing practical business and technical intelligence to today's structured cabling professionals

For more than 30 years, Cabling Installation & Maintenance has provided useful, practical information to professionals responsible for the specification, design, installation and management of structured cabling systems serving enterprise, data center and other environments. These professionals are challenged to stay informed of constantly evolving standards, system-design and installation approaches, product and system capabilities, technologies, as well as applications that rely on high-performance structured cabling systems. Our editors synthesize these complex issues into multiple information products. This portfolio of information products provides concrete detail that improves the efficiency of day-to-day operations, and equips cabling professionals with the perspective that enables strategic planning for networks’ optimum long-term performance.

Throughout our annual magazine, weekly email newsletters and 24/7/365 website, Cabling Installation & Maintenance digs into the essential topics our audience focuses on.

  • Design, Installation and Testing: We explain the bottom-up design of cabling systems, from case histories of actual projects to solutions for specific problems or aspects of the design process. We also look at specific installations using a case-history approach to highlight challenging problems, solutions and unique features. Additionally, we examine evolving test-and-measurement technologies and techniques designed to address the standards-governed and practical-use performance requirements of cabling systems.
  • Technology: We evaluate product innovations and technology trends as they impact a particular product class through interviews with manufacturers, installers and users, as well as contributed articles from subject-matter experts.
  • Data Center: Cabling Installation & Maintenance takes an in-depth look at design and installation workmanship issues as well as the unique technology being deployed specifically for data centers.
  • Physical Security: Focusing on the areas in which security and IT—and the infrastructure for both—interlock and overlap, we pay specific attention to Internet Protocol’s influence over the development of security applications.
  • Standards: Tracking the activities of North American and international standards-making organizations, we provide updates on specifications that are in-progress, looking forward to how they will affect cabling-system design and installation. We also produce articles explaining the practical aspects of designing and installing cabling systems in accordance with the specifications of established standards.

Cabling Installation & Maintenance is published by Endeavor Business Media, a division of EndeavorB2B.

Contact Cabling Installation & Maintenance

Editorial

Patrick McLaughlin

Serena Aburahma

Advertising and Sponsorship Sales

Peter Fretty - Vice President, Market Leader

Tim Carli - Business Development Manager

Brayden Hudspeth - Sales Development Representative

Subscriptions and Memberships

Subscribe to our newsletters and manage your subscriptions

Feedback/Problems

Send a message to our general in-box

 

FLYHT Reports Third Quarter 2024 Results

CALGARY, AB / ACCESSWIRE / November 13, 2024 / FLYHT Aerospace Solutions Ltd. (TSXV:FLY)(OTCQX:FLYLF) (the "Company" or "FLYHT") today reported financial results for the third quarter ended September 30, 2024 ("Q3 2024"). All figures are Canadian dollars unless otherwise stated.

Financial Summary

Three Months Ended September 30

Nine Months Ended September 30

2024

2023

Inc./ Dec.

2024

2023

Inc./ Dec.

Revenue

$

4,398,225

$

5,099,019

-14

%

$

13,500,818

$

15,899,792

-15

%

SaaS

2,167,003

2,787,664

-22

%

7,638,386

7,891,437

-3

%

Hardware

1,061,822

1,001,817

6

%

2,353,110

3,945,523

-40

%

Licensing

22,889

494,573

-95

%

102,979

1,936,574

-95

%

Technical Services

1,146,511

814,965

41

%

3,406,343

2,126,258

60

%

Gross Margin

56.8

%

58.7

%

-190

bp

61.0

%

58.6

%

220

bp

Adjusted EBITDA

(1,034,678

)

(430,865

)

NM

(3,009,600

)

(1,606,734

)

NM

Net Loss

(2,244,504

)

(728,655

)

NM

(4,835,017

)

(2,554,576

)

NM

EPS - Basic & Diluted

(0.05

)

(0.02

)

(0.03

)

(0.12

)

(0.07

)

(0.05

)

Operating Results

Revenue decreased by 14% to $4,398,225 in Q3 2024 compared to Q3 2023, driven by declines in SaaS and Licensing, which more than offset increases in Hardware and Technical Services. SaaS revenue decreased by 22% to $2,167,003, driven by a decrease in TAMDAR soundings, and Licensing revenue decreased by 95% to $22,889 due to differences in orders from our long-term OEM customer. Hardware revenue increased 6% to $1,061,822 with a total of 11 installations kits shipped in Q3 2024 compared to 18 kits shipped in Q3 2023, mainly due to installation schedules for our contracted AFIRS 228 product and per kit pricing variances. Technical Services revenue increased by 41% to $1,146,511 due to an increased amount of AMOS data migration work completed and an increase in certification services provided.

Gross margin was 56.8% of revenue in Q3 2024 compared to 58.7% in Q3 2023. The increase in gross margin was due primarily to changes in the mix of revenue sources during the quarter.

Operating expenses increased by 24% from Q3 2023, mainly driven by $719,508 of non-recurring expenses associated with the restructuring. Excluding the non-recurring costs, operating expenses would have increased by 4%. Distribution expenses increased by 13%, reflecting an increased focus on sales and marketing for our Edge products. Research, Development and Certification Engineering expenses increased by 8%, mainly driven by contract labour reflecting the final push required to complete the AFIRS Edge+ and FLYHT-WVSS-II development work, moving those products into their new phase of commercialization, including required certifications. Administration expenses increased by 62% mainly due to the restructuring.

Negative Adjusted EBITDA1 totaled $1,034,678 in Q3 2024, excluding $719,508 of non-recurring restructuring expenses, compared to negative EBITDA of $430,865 in Q3 2023.

Net loss was $2,244,504 in Q3 2024 compared to a net loss of $728,655 in Q3 2023.

Balance Sheet and Liquidity

Cash and short-term investments totaled $1,289,217 at September 30, 2024, compared to $1,542,203 at December 31, 2023.

Trade and other receivables decreased by 25% to $2,175,408 compared to YE 2023, and Trade payables and accrued liabilities increased by 13% to $3,505,481 compared to YE 2023.

Additional Information

FLYHT's Q3 2024 Report, which contains more detailed information including the CEO's Letter to Shareholders, Management Discussion and Analysis and Financial Statements, can be accessed on the Company's website. The MD&A and Financial Statements have also been filed with SEDAR and will be accessible at www.sedar.com.

About FLYHT Aerospace Solutions Ltd.

FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, and delivers industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by a suite of patented aircraft certified hardware products, AFIRS™. Solutions include an aircraft satcom/interface device that enables cockpit voice communications, transmission of aircraft data both while inflight via satellite and post-flight via 5G, real-time aircraft state and fleet status analysis, and preventative maintenance solutions. FLYHT's hardware products can also be interfaced with FLYHT's proprietary relative humidity sensors to deliver airborne weather and humidity data in real-time.

FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. For more information, visit www.flyht.com.

Contact Information:

FLYHT Aerospace Solutions Ltd.
Alana Forbes
Chief Financial Officer
403.291.7437
investors@flyht.com

FNK IR LLC
Matt Chesler, CFA
Investor Relations
646.809.2183
mchesler@flyht.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

###


1Adjusted EBITDA: defined as earnings before interest, income tax, depreciation and amortization, less non-recurring restructuring costs (a non-GAAP financial measure). Adjusted EBITDA is provided to aid in analysis and profitability comparisons among companies and industries, by segregating operating results from the effects of financing and capital expenditures.

SOURCE: FLYHT Aerospace Solutions Ltd.



View the original press release on accesswire.com

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.