Growing SaaS Revenue
- Strategic refocus to sell software first, then subsequent upsell of hardware solutions
- Longevity of technology in the aviation industry means that once a technology has been accepted, it tends to remain for an extended period of time
- Robust recurring revenue gross margins of 75-85%
- Five-year customer contracts renew at expiry
- FLYHT’s revenue comes from the sale and installation of product, followed by recurring monthly revenue for 30+ years the aircraft operates
Significant Barriers to Entry
- Certified on 95% of all aircraft used for commercial air transport
- FLYHT owns patents to AFIRS UpTime and its other technologies
- FLYHT has over 90 Supplemental Type Certificates (“STC”) for different aircraft types. STCs are regulatory requirements to install AFIRS onboard an aircraft
Established OEM Agreements
- Partnerships with Original Equipment Manufacturers to install AFIRS at the factory lead to larger industry acceptance and increased growth in installs and revenue.
Investing in the Future
FLYHT’s proprietary technology, the Automated Flight Information Reporting System (AFIRSTM), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data.
AFIRS sends this information through the Iridium Satellite Network to FLYHT’s UpTimeTM ground-based server, which routes the data to customer-specified end points and provides an interface for real-time aircraft interaction.
FLYHT’s unique ability to capture, process, and transmit data, coupled with real-time alerts provides airlines with direct insight into the operational status and health of their aircraft and enables them to take corrective action in order to maintain the highest standard of operational control.
Global Customer Base
- Greater than 3 million flight hours using AFIRS
- Shipped and/or installed over 2000 units worldwide
- Providing value to our customers
Leading technology for real-time black box data streaming
FLYHT’s Automated Flight Information Reporting System (AFIRS) provides airlines with the ability to capture and transmit data from their aircraft in real time.
FLYHTStreamTM, enabled by AFIRS, is the only technology in the world capable of streaming Flight Data Recorder (FDR or Black Box) information. Its primary purpose is to provide an alternate means of accessing the flight data normally secured in the FDR. This data can then be used by the accident investigators to begin investigating an air incident immediately or to provide an alternative in the event the FDR cannot be recovered or the data has been compromised.
B767 Success Story
Customers have benefited from the real-time data provided by the AFIRS technology to help streamline their operations and improve their safety while saving them money.
PROBLEM: In one case, an AFIRS notification of high engine vibrations prompted a customer to take the aircraft out of service to examine the engine. Upon inspection, a serious mechanical flaw was found in the turbine that would have resulted in engine failure if it had continued to operate.
SOLUTION: AFIRS provided monetary and safety benefits to the customer, directly avoiding outlay of $5.2 million for a replacement engine and instead affording the customer the option to expend $780,000 on a timely engine repair.