Volatus Aerospace Corp. (VOL:TSX; VLTTF:OTCQB) was busy at the start of the year. On January 9, the company announced it had officially acquired UK-based companies Aerial Motion Pictures Ltd., dba UAVHub, and Open Sky Consulting International Ltd., dba The Drone Mentor.

At the time, CEO Glen Lynch stated, "UAVHub and The Drone Mentor has a recognized history of excellence as the highest rated drone training provider in the UK, training over 45,000 drone pilots since its beginning . . . This acquisition will help to continue its expansion on an international scale and provide bundled solutions to our client base, increasing customer stickiness and long-term relationships."

Then, on February 13, Volatus reported it had gotten Federal Aviation Administration (FAA) approval to use its drones for commercial agriculture operations using drones weighing 55 pounds or greater. This will also grant Volatus the ability to offer services to large-scale clients throughout North America. 

"By continuing to align our drone operations with our commercial aircraft and helicopter operations, we are building confidence with global regulators," Glen Lynch said at the time. "This has allowed Volatus to obtain numerous special approvals for operations requiring Beyond Visual Line of Sight flights, higher altitude flights, and heavier aircraft operations not currently covered by today's regulations both in Canada and the United States. Each authority allows us to increase our service offering and generate greater revenues using advanced drone technology."

A Profitable 2024

As Volatus advances, it is expected to have a profitable 2024. According to Echelon Capital Markets analyst Rob Goff in a February 20 research note, the company is expecting  Q423 revenue/gross profits/EBITDA at CA$8.0M/CA$2.6M/(CA$0.7M) and Q124 revenue/gross profits/EBITDA at CA$10.3M/CA$3.2M/($0.6M). For the full year 2024, the analyst forecasts revenue of CA$53.8M, gross profits of CA$16.7M, and EBITDA of CA$1.8M.

Historically, Volatus has shared quarterly results every three months, meaning the 2023 annual results should be out any day now.

An annual meeting is also expected soon, during which Volatus will go through its past and upcoming operations. 

As for the stock's outlook in general, Technical Analyst Clive Maund told Streetwise reports, "After having been in a rather severe bear market from the start of 2022 when it started trading again after what looks like a period of restructuring, Volatus Aerospace has been building out what is believed to be a base pattern since early December, whose duration up to now has allowed its falling 200-day moving average to catch up to the price and downside momentum to drop out, thereby creating a much better technical environment for a new bull market to begin.

He continued, "It has been trending gently higher since early March within its suspected base pattern with its 50-day moving average having turned up so that it is now providing some support for the price, with the reaction of the past week having brought it back very close to this average. So this is considered to be an opportune point to buy Volatus Aerospace stock."

Ownership and Share Structure

Reuters provided a breakdown of the company's ownership and share structure, where management and insiders own approximately 63.04% of the company. According to Reuters, Director and Chairman Ian Alexander McDougall owns 31.75% of the company with 39.02 million shares, and President and CEO Glen Lynch owns 31.29% of the company with 38.46 million shares.

Reuters reports that institutional investors in the form of Palos Management Inc. owns 0.11% of the company with 0.13 million shares.

According to Reuters, there are 122.91 million shares outstanding with 45.43 million free float traded shares, while it has a market cap of CA$13.35 million and trades in the 52-week period between CA$0.11 and CA$0.44.

Important Disclosures:

1. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Volatus Aerospace Corp.
2. Katherine DeGilio wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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