The following is a summary of the FLYHT Aerospace Solutions Ltd. (FLYLF) Q4 2023 Earnings Call Transcript:

Financial Performance:

• FLYHT reported full-year revenue of over $20 million, with SaaS accounting for over half ($10.7 million), a 31% increase from 2022.

• Despite increases in SaaS and technical services revenues, total year revenues decreased from 2022 due to lack of a large licensing order.

• Cash balance at the end of Q4 2023 was higher than the Q3 2023 balance.

• Gross profit was consistently strong, particularly from the 228 product with no high margin licensing involved.

• The company experienced steady growth in technical service revenue, largely from CrossConsense data migration work, with margins around the mid-50% range.

• Although SaaS revenue growth continues, the increase rate slowed compared to the past year.

Business Progress:

• FLYHT's wireless data communication device, the AFIRS Edge, is being installed in aircraft by a commercial airline client. Installations in other jurisdictions, including both Europe and the U.S are in progress.

• The company expects 2024 to be a significant year for the Edge program, driving growth along with the weather technologies.

• Sales efforts for Edge+ units are ramping up with physical units demonstrated at the Aerospace Tech WEEK conference.

• Weather programs with the UK Met and NOAA are moving forward and set for deployment with a North American airline this year.

• FLYHT is paying increased attention to contrails solutions and pursuing sale opportunities with national weather agencies and airlines.

• A320 product installations have begun after acquisition of the STC.

• The company expects R&D expenses to remain constant for the next 18-24 months due to final development and certification efforts for the Edge+.

More details: FLYHT AEROSPACE SOLUTIONS LTD IR

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