EQS-News: Volatus Aerospace Corp. Announces Record Third Quarter 2022 Revenue of $11.12MM
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").
- 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").
- Revenue for Q3 2022 was $11,120,589 an increase of 68% over the previous quarter and a 238% increase over the same quarter in the prior year.
- The revenue increase in Q3 2022 was driven by organic growth, scale in drone services activities, and increased aviation revenue.
- The Company has experienced a gross margin of 30%, representing an increase of 127 basis points over the second quarter of 2022.