FLYHT AEROSPACE SLTNS LTD - FLYLF STOCK NEWS

FLYHT Aerospace Solutions (TSXV:FLY)(OTCQX:FLYLF) announced a $5 million unsecured debenture with Pinnacle Island II LP. The funds will support additional Supplemental Type Certifications (STC) and accelerate commercialization of its 5G aviation and weather solutions. The debenture carries a three-year term with an annual 12% interest, payable quarterly, and includes a 5% discount fee. Additionally, FLYHT will issue 2 million common share purchase warrants with a 3-year exercisable period at a 12.5% premium to the 20-day volume weighted average price at issuance. Paradigm Capital Inc. acted as financial advisor, earning a 4% cash commission on the loan amount. Final approval from the TSX Venture Exchange is pending.

FLYHT Aerospace Solutions (OTCQX: FLYLF) announced its Q1 2024 financial results, reporting a 1% revenue increase to $4.79M compared to Q1 2023. SaaS revenue grew by 15% to $2.76M, while Technical Services surged 128% to $1.28M. Gross margin improved to 64% from 57.3%. However, hardware revenue plummeted 63% to $663K. Operating expenses saw a 10% decline, narrowing the EBITDA loss to $594K from $1.34M. Net loss was reduced to $794K from $1.66M. The company completed a $5M financing round and received supplemental type certification for AFIRS Edge™ on Airbus A320 aircraft. Cash and short-term investments stood at $1.48M with $1.18M used from its credit facility for working capital.

FLYHT Aerospace Solutions (TSX-V:FLY, OTCQX:FLYLF) announced a conference call to discuss first quarter 2024 results on May 30, 2024. The call will begin at 7:30 a.m. MT (9:30 a.m. ET) and feature remarks from President & Interim CEO Kent Jacobs and CFO Alana Forbes. Participants in the U.S. and Canada can join toll-free at 1-844-763-8274, while international participants can dial 1-647-484-8814. The company will accept questions by phone and email during the session. An archived version of the call will be available on FLYHT's Investor Relations website.

FLYHT Aerospace Solutions announced its participation in the Rivemont Investments MicroCap Technology Special in Montreal on May 14, 2024. Kent Jacobs, President and Interim CEO, will host a presentation and Q&A session. The event is open to existing and potential shareholders.

FLYHT Aerospace Solutions reported financial results for Q4 and full year 2023, with revenue of $20.1 million driven by record SaaS revenue of $10.7 million. The company is focusing on 5G aviation solutions and weather businesses for growth in 2024.

FLYHT Aerospace Solutions announced a conference call to discuss its Q4 and full year 2023 results. The call will feature the company's President & Interim CEO and CFO. Investors can participate via phone or email, with an archive available on the company's website.

FLYHT Aerospace Solutions announces a new engineering and design contract with its long-term OEM partner for technology refresh, reinforcing the successful AFIRS 228S line fit program with Airbus. The $360,000 USD contract aims to extend the program's longevity, showcasing confidence in FLYHT's product quality and revenue stream.

FLYHT Aerospace Solutions Ltd. will participate in the iAccess Alpha 'Buyside Best Ideas Spring Conference 2024' with a live presentation by the President and CFO. The event will be held virtually on March 12-13, 2024, offering shareholders valuable insights and networking opportunities.

FLYHT Aerospace Solutions Ltd. receives Supplemental Type Certificate from Transport Canada for the flange version of AFIRS EdgeTM, a 5G wireless data communication device for Airbus A320 aircraft. The STC enables FLYHT to ship units to Canadian A320 customers and expand globally. President Kent Jacobs highlights the significance of this achievement for FLYHT and the aviation industry, emphasizing the Edge's advanced technology and value proposition.