looking forward "Backlog at the end of (Q2) is $37 million (CDN). ...pipeline is at $230 million, top line in USD with a probable value of $83 million." (I believe the timeframe for the backlog is two years, the pipeline may be five.)
Having effectively completed the Edge+, "heading forward, our R&D will be substantially reduced".
"...except for the Edge+, the aircraft needs to be at a service to allow for installation..." i.e. the Edge+ can be installed in minutes without waiting for a scheduled maintenance
C Check (1-2 weeks out of service).
"Obtaining (the EDGE+) STC will open a substantial market for FLYHT, represented by roughly 18% of our pipeline valued at approximately $41 million."
"...first WVSS-II shipments (expected,
UK Met,
NOAA) in Q4 2024."
"as soon as we can validate the solution on Loganair's initial 13, we'll be ready to strike and sign the second airline for ... the remaining 17 (UK Met) units".
"CrossConsense continues to deliver quarter-over-quarter increases in data migration services...".
Following the design refresh, FLYHT is "currently projecting 2026 through 2029 that licensing will return to normalized levels (about $4 million a year)". Program completion in early to mid-next year.
"we continue to take orders for and are delivering AFIRS 228 for (Comac's) ARJ-21".
"...we're actively working with MBS to bring the (Edge+/MBS data loader) solution to market. ...we hope to share more good news about that soon". (MBS
client list.)
See earlier posts for more details and links to the Q2 2024 conference call transcript from which most of this was drawn.
All key STCs should be in hand by Q4, Q1 2025.