Firan Technology Group Corp
TSX:FTG
Firan Technology Group Corp
Firan Technology Group Corp. engages in the provision of aerospace and defense electronics product. The company is headquartered in Scarborough Ontario, Ontario and currently employs 450 full-time employees. The firm operates through two segments: FTG Circuits and FTG Aerospace. FTG Circuits is a manufacturer of technology printed circuit boards. Its customers operate in the aviation, defense and technology industries. FTG Circuits has operations in Toronto, Ontario, Chatsworth, California, Fredericksburg, Virginia and a joint venture in Tianjin, China. FTG Aerospace manufactures and repairs illuminated cockpit panels, keyboards and sub-assemblies for original equipment manufacturers of aerospace and defense equipment. FTG Aerospace has operations in Toronto, Ontario, Chatsworth, California, Fort Worth, Texas and Tianjin, China. Its products include Semi Additive Process, high density interconnects, rigid flex, aerospace chassis and assembly, backlit control panels and assemblies.
Firan Technology Group Corp. engages in the provision of aerospace and defense electronics product. The company is headquartered in Scarborough Ontario, Ontario and currently employs 450 full-time employees. The firm operates through two segments: FTG Circuits and FTG Aerospace. FTG Circuits is a manufacturer of technology printed circuit boards. Its customers operate in the aviation, defense and technology industries. FTG Circuits has operations in Toronto, Ontario, Chatsworth, California, Fredericksburg, Virginia and a joint venture in Tianjin, China. FTG Aerospace manufactures and repairs illuminated cockpit panels, keyboards and sub-assemblies for original equipment manufacturers of aerospace and defense equipment. FTG Aerospace has operations in Toronto, Ontario, Chatsworth, California, Fort Worth, Texas and Tianjin, China. Its products include Semi Additive Process, high density interconnects, rigid flex, aerospace chassis and assembly, backlit control panels and assemblies.
Record Results: FTG posted record revenues, EBITDA, and earnings for 2025, with revenue up 18%, adjusted EBITDA up 27%, and adjusted net earnings up 31%.
Strong Backlog & Bookings: Year-end backlog reached $148.5 million, up 21%, and bookings hit $209.9 million, a 14% increase, with 80% of the backlog expected to convert to revenue in 2026.
Margin Expansion: Gross margin improved to 31.7% in 2025, up 430 basis points year-over-year, attributed to improved scale, operational efficiency, and favorable FX rates.
FLYHT Integration: The FLYHT acquisition drove significant growth, especially in the Aerospace segment, and early integration is yielding new business and product deliveries.
Defense & Commercial Tailwinds: FTG expects to benefit from increased defense spending in the US, Canada, and NATO, and sees strong demand from commercial aerospace led by Airbus and Boeing production ramps.
Revenue Diversification: Sales outside the US grew sharply, reducing customer concentration and mitigating tariff risks, with Asia, Europe, and Canada all posting substantial sales growth.
Capacity & Expansion: Plans are in place to expand capacity, particularly in Toronto and India, and to pursue further growth in Europe and defense markets.
