Volatus Aerospace Corp (TSE:VOL) has released an update.
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Volatus Aerospace Corp. has reported a significant uptick in their Q1 2024 financials, with service revenue jumping 39% and a gross margin increase to 34%, showcasing a strategic move towards more efficient operations. Despite a comprehensive loss and a drop in equipment revenue due to capital constraints, the company has seen an adjusted EBITDA improvement, reflecting efficiency measures that are expected to yield further results in the coming quarters. The period also featured expansions in the UK, the U.S. oil and gas sector, and advancements in LiDAR services and inspections.
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