What Happened
Canadian Drone Maker Expands Defense Capabilities Amid Revenue Miss
Volatus Aerospace, a Canadian drone manufacturer, has received regulatory approval for its Canary drone system, allowing it to operate beyond the pilot’s visual line of sight. The company is also advancing in the US SOCOM program for modular combat drones and has completed its application for Canada’s Defence Drone Initiative. Despite these strategic milestones, Volatus’s second-quarter results showed a revenue miss and a swing to an adjusted EBITDA loss, prompting a trim in full-year revenue guidance. This development was reported by an unknown source.