Written by Group Leader, Christopher Hampton
StoryTrading has opened the FLYLF Research Group to collaborate on FLYHT Aerospace Solutions Ltd.
FLYHT is a leader in airline SaaS and the only company providing real-time transmission of black box data. FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRS), provides additional functions including voice and text messaging, data collection and transmission, and on-demand streaming of engine and airframe data. They acquired PWS from Panasonic in late 2018, adding to their basket of services PWS’ Tropospheric Airborne Meteorological Data Reporting (TAMDAR) weather sensor, the state of the art in weather-forecasting hardware. AFIRS sends this information through the Iridium Satellite Network (and soon Immarsat as well) to FLYHT’s UpTime server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction.
FLYHT derives its revenue from the initial hardware sale, installation and recurring revenue on data services. After the hardware is installed, FLYHT receives recurring SaaS revenue through the life of the aircraft (30+ years). The gross margins on this recurring revenue are ~80%. As the company and its offering have matured, the safety and cost-saving functions of AFIRS have earned it global reach. Regulation changes over the next two years are accelerating adoption, as is the trend toward the fully connected aircraft.
With Q2 2019, FLYHT has had 3 consecutive quarters of over 100% year-over-year revenue growth. Their SaaS revenue is growing even more rapidly, with an increase of 130% YoY in Q2 2019.
The StoryTrading FLYLF Research Group has already begun the deep dive into the company, its addressable market, and the opportunity ahead. If you’re interested in contributing to this collaborative research approach on a company just at its inflection point, consider joining the group here and introducing yourself.
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Interested investors can find more information in the July 2019 Investor Presentation from the company and the company’s website. They can also find active and informed discussion on the company and its future in the StoryTrading FLYHT Research Group. Please introduce yourself!
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