Following a major merger in Canada’s nascent drone sector, Glen Lynch, CEO of Volatus Aerospace (Volatus Aerospace Stock Quote, Chart, News, Analysts, Financials TSXV:FLT) has big expectations for the combined entity of Drone Delivery Canada and Volatus, now operating under the name of the latter and the ticker symbol of the former.
At the 2024 Cantech Letter Investment Conference in Toronto on October 9, Lynch sat down with Amber Mac to talk about the ambitions of the Aerial Intelligence Company, which now combines the service focus of Volatus with the technology-first mindset of Drone Delivery Canada. The result, the CEO said, could be some much improved numbers.
“We are a company that has been approaching profitability,” Lynch said. “That’s a big focus for us right now. We have released our estimates for 2025, we’re shooting for $70-million in revenue and a $10-million positive EBITDA. That’s largely through growth in our current sector. We have line-of-sight on the majority of that. But ultimately our goal is to continue to expand our presence globally through the expansion of contracts, even with some of our larger customers, like oil and gas, for example. They are global customer. Ultimately, our goal is to continue to expand to serve those customers on other continents.”
For the full interview, see below:
About The Author /
Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.
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