some takeaway from the Q2 2024 conference callEurope and China are the largest markets for the Edge+ initially. FLYHT will be prioritizing the EASA Edge+ STC, with STCs for Canada, USA, UK and China planned and in the works. Receipt anticipated in Q4/Q1.
Pairing the Edge+ with MBS’s data loader solution is progressing. There have been preliminary sales presentations. FLYHT is hoping to share good news soon.
The STCs needed for the Edge+ and the WVSS-II for the UK Met and Loganair order in the UK will be held by STC Twenty One as has been done at times in the past for STCs needed in countries FLYHT is not resident in.
Growth plans for subsidiary CrossConsense include “providing 24-hour worldwide support”.
The Edge+ represents approximately 18% or $41M of the pipeline (making the pipeline out to be $228M, with a probable value of $83M). Backlog is presently at $37M.
First WVSS-II shipments are expected in Q4 2024 (each includes and AFIRS Edge). Clients are NOAA/(airline to be announced), UK MET/Loganair, and UK MET (airline to be announced).
The L3H AFIRS 228 re-design has gone well. Licensing revenue should recommence in 2026 at a run rate of $4M annually.
It seems that, with the recent management changes, the Edge+ design has been locked down so initial customer delivery is more predictable. The sales approach will change accordingly.
70 Edge units have been ordered, 3 have been installed, and there are about 30 in inventory.
The majority of the WestJet fleet has been outfitted with the AFIRS 228. It is possible they will take the Edge also.
Sales of the AFIRS 228 continue for the ARJ-21 (regional jet manufactured by Comac in China).