Flyte Aviation, Inc.

flyflyte.com

What Do They Do?

Sells non-invasive cardiac mapping systems and suture-retention devices to hospitals that perform cardiac procedures.

How Do They Make Money?

Hospital customers buy the VIVO system with required positioning patches; the company invoices after delivery. Optional software upgrades may be paid in advance and provided over the service term; LockeT devices are sold on delivery.

FY2025 revenue

Who Are Their Customers?

Hospitals providing cardiac electrophysiology procedures are the primary customers. Sales are direct in the U.S.; internationally, the company sells through both direct channels and distributors.

Customers above 10% of revenue, FY2025

of revenue from three customers (28%, 12%, 10%)

FY2024: 62% from three customers

Do Revenues Turn Into Profits?

No. It lost $17.2M in FY2025.

Operating income, FY2025

−2582% of revenue

▲ +88% (Loss) vs FY2024 (−$11.2M, −2677%)

Net income, FY2025

−2098% of revenue

▲ +3% (Loss) vs FY2024 (−$16.6M, −3963%)

Free cash flow, FY2025

−1016% of revenue

▼ −11% (Loss) vs FY2024 (−$9.3M, −2223%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +381%; vs $212K in Q2 FY2025
Net income: ▼ −36% (Loss); vs −$5.1M in Q2 FY2025

Growing. Revenue grew 37.2x in 4 years, from $22K in FY2021 to $819K in FY2025, about 147% a year.

Added LockeT to the product lineup The earlier report describes VIVO as its primary product; the latest report also lists LockeT, a suture-retention device.

Who Do They Compete With?

Competes with Medtronic, Abbott Laboratories, Boston Scientific, Johnson & Johnson, St. Jude Medical, Haemonetic, and Inari Medical

Comments