Re: FLYHT Schedules Fourth Quarter and Full Year 2023 CCThis announcement is two weeks later than expected, perhaps delayed to coincide with news about the Boeing STC for the flange-mount Edge that may come next week as well. Slide 9 in the latest investor presentation predicted receipt of this STC about this time.
https://flyht.com/wp-content/uploads/2024/03/FLY_Invst_Pres_March-2024.pdf It is all about sales of the Edge now, with receipt of the various STCs a precursor, a formality.
The open letter to shareholders released Feb. 23, 2024 addressed a variety of topics, including STCs.
https://flyht.com/investors/news-and-media/view/a-message-from-kent-jacobs-flyht-president-interim-ceo/ - STCs for Airbus, Boeing and Embraer, for the Edge, Edge+ and the WVSS-II
- multi-year design and manufacturing collaboration with One Stop Systems (OSS)
- two major weather data programs, with the UK Met and NOAA leading to more
- bid to to support, upgrade, calibrate and/or replace the 148 legacy WVSS-II sensors
- CrossConsense to roll-out several exciting new extensions to their product apps
- improved integration of CrossConsense offerings with FLYHT's core offerings
- broadening of SaaS revenue sources beyond flights and flight hours
The STCs set up sales of all FLYHT's new products, hardware and SaaS.
Will certainly be mindful of the cash position when the Q4 report comes out.
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Fiscal Responsibility Sets Up for a Stronger 2024.
We continue to reinvest the positive cashflow generated from our previous, still active, generations of hardware, to fund the R&D and commercialization of our emerging opportunities. A contributor to that positive cashflow is our SaaS revenues with an annual run rate of over $11 million based on the third quarter of 2023. This demonstrates a comparative, annualized growth of over 30% (see our Q3 2023 report here and press release here). As we invest for the near-term future, we are dedicated to living within our means by investing mainly from our internally generated cashflow, and investing in our highest strategic priorities. This strategic prioritization of development efforts has been key to our success in recent years and will remain that way long after we begin to generate revenues from our investments."