Aireon powers next-generation data products and analysis for the global aviation industry, providing space-based automatic dependent surveillance-broadcast (ADS-B) data for air navigation service providers, airlines, airport operators, airframe manufacturers, and military agencies. Self-described as a pioneer in air traffic surveillance, Aireon's data stream enhances safety, efficiency, and environmental responsibility.

Don Thoma

Alan Khalili

Aireon

Adacel Technologies Limited develops and sells air traffic management, air traffic control simulation, and training systems and services for the military and civil sectors primarily in the United States, Canada, Estonia, and Australia. It operates through Systems and Services segments. The Systems segment is involved in the sale of advanced systems, technical software, and hardware. The Services segment includes development and support, and field technical services. The company also offers Aurora air traffic management (ATC) solution for providing oceanic, procedural, and mixed surveillance airspace control; MaxSim air traffic simulator training system; AeroDrive, an immersive training simulator to train airport drivers in a 3-D environment; and intelligent communications environment, an aviation phraseology training tool for air traffic controllers and pilots. In addition, it provides REVAL virtual ATC tower system that delivers digital tower operational solutions. The company was founded in 1987 and is headquartered in Port Melbourne, Australia.

Adacel Technologies Limited

Inmarsat is a British satellite telecommunications company that offers global mobile services, providing telephone and data services to users worldwide via portable or mobile terminals communicating with ground stations through geostationary telecommunications satellites.

Inmarsat Global Ltd.

ENAV S.p.A. provides air traffic control and management, and other air navigation services in Italy, the rest of Europe, and internationally. It operates through three segments: Air Navigation Services, Maintenance Services, and AIM Software Solutions. The company also offers technical management and maintenance services for air traffic control equipment and systems, as well as for air infrastructure; and develops software solutions for the management of aeronautical information and air traffic, as well as provides related commercial and maintenance services. In addition, it offers air traffic flow management, communication navigation and surveillance, digital aeronautical management, and flight procedure design and validation solutions. Further, the company provides flight inspection, aeronautical consulting, technical and engineering services, meteorology, and training and other services, as well as maintenance services for software solutions, as well as sells software licenses. It serves air navigation service providers, airport authorities, aeronautical agencies, and government and private entities. ENAV S.p.A. was founded in 2001 and is based in Rome, Italy.

ENAV S.p.A.

Aireon has deployed a space-based air traffic surveillance system for Automatic Dependent Surveillance-Broadcast (ADS-B) equipped aircraft throughout the entire globe. Aireon harnesses next-generation aviation surveillance technologies that are currently ground-based and, for the first time ever, extend their reach globally to significantly improve efficiency, enhance safety, reduce emissions and provide cost savings benefits to all stakeholders. Real-time ADS-B surveillance covers oceanic, polar and remote regions, as well as augment existing ground-based systems that are limited to terrestrial airspace. In partnership with leading ANSPs from around the world, like NAV CANADA, Iridium Communications, ENAV, NATS, the Irish Aviation Authority (IAA), and Naviair, Aireon will have an operational, global, space-based air traffic surveillance system in early 2019.

NATS

Global Infrastructure Partners

ENAV

Irish Aviation Authority

Naviair

Aireon LLC

Aireon Locate is a web-based tool that helps to take the ‘search’ out of search and rescue. Learn how Aireon Locate can support your safety missions. https://bit.ly/3sJDlzj

Women from #TeamAireon attended this week's Women in Aviation event in Washington, D.C. A great opportunity to network and learn with colleagues! Yalonda Dabney Linh Spies Katelyn Van Devender Sarah Daly Lisa Krupinski

What a great week at the ICAO Air Navigation World 2023 -- ATM Procedures for Today event! AireonFLOW Product Manager Stuart Ratcliffe and Sales Manager David Smith briefed the audience on latest trends in air traffic flow management and the role Aireon’s space-based ADS-B plays in improving efficiency and safety.

We are excited to announce that we will be attending and speaking at the first ICAO Air Navigation World 2023 - ATM Procedures for Today in Singapore.

Join us in our SkyTalk:
Harnessing Space Based ADS-B, Cloud Services for ATFM
Oct. 24, 1:30 p.m.-2:00 p.m.
Presented by Stuart Ratcliffe, AireonFLOW Product Manager

Learn more at: https://lnkd.in/esmpuRQ6

Metric
Company Name	Aireon	Adacel Technologies Limited	Inmarsat Global Ltd.	ENAV S.p.A.
Symbol		ADA		ENAV
MSH ID	COM:AIREON	COM:ADACEL	COM:INMARSAT	IT:ENAV
Market	PRIVATE	STOCKS	PRIVATE	STOCKS
Sector	Technology	Technology	Technology	Industrials
Industry	Aviation	Software - Application	Telecommunications	Airlines, Airports & Air Services
Country	US	AU	GB	IT
Stage
Employee Count	102	164	1.51K	4.38K
Website	aireon.com	adacel.com	inmarsat.com	enav.it
LinkedIn			inmarsat	enav
Founders

Metric
Market Cap	24.11M	2.21B
Enterprise Value
Monthly Web Traffic		57.94K
Web Traffic Growth		-0.29
Valuation
Raised Capital

Metric
Revenue	30.20M	1.06B
Revenue (LTM)
Revenue (NTM)
Gross Profit	60.46K	1.06B
EBITDA	-450.50K	306.13M
Operating Income	-2.37M	182.38M
Net Income	-4.30M	119.27M
EPS	-0.06	0.22
Diluted EPS	-0.06
Revenue 2022
Revenue 2023
Revenue 2024
Revenue 2025
Revenue 2026

Metric
Revenue Growth (LTM)
Revenue Growth (NTM)
Gross Profit Growth (LTM)
EBITDA Growth (LTM)
Net Income Growth (LTM)
14-Day Growth Score
28-Day Growth Score
90-Day Growth Score
365-Day Growth Score

Metric
Gross Profit Margin	0.09	0.53
Operating Profit Margin	-0.02	0.19
EBITDA Margin	-0.01	0.29
Net Profit Margin	-0.06	0.13
Return on Equity	-0.17	0.15
Return on Assets	-0.07	0.08
Return on Capital Employed	-0.06	0.14

COM:AIREON

Aireon

Company Overview

Market Metrics

Financial Performance

Growth Metrics

Profitability Ratios

Valuation Multiples

Operational Metrics

Cash Flow Metrics

Balance Sheet Metrics

Efficiency Metrics

Metric
P/E Ratio	-362.77	12.83
P/B Ratio	3.75	1.57
Revenue Multiple (LTM)
Revenue Multiple (NTM)
EBITDA Multiple (LTM)
EBITDA Multiple (NTM)
Price to Sales Ratio	1.33	1.65
EV Multiple	94.99	36.85

Metric
Days Sales Outstanding	60.50
Days Payables Outstanding	11.42	76.30
Days Inventory Outstanding	20.85	32.61
Operating Cycle	154.05	138.82
Cash Conversion Cycle	116.39	72.48
Asset Turnover	1.56	0.73

Metric
Operating Cash Flow	-2.27M	222.46M
Free Cash Flow	-3.81M	105.77M
Cash Flow to Debt	0.34	1.10
Operating Cash Flow/Sales	0.06	0.30
Free Cash Flow Yield	0.13	0.18

Metric
Cash & Equivalents	1.48M	237.52M
Accounts Receivable	-2.00M
Inventory	1.95M	65.24M
Goodwill		98.73M
Debt to Capitalization	0.67	0.35
Debt to Assets	0.16	0.16
Current Ratio	1.34	1.24
Quick Ratio	1.05	1.87

Metric
Rule of 40 (LTM)
Rule of 40 (NTM)
Stock Comp to Revenue		0.00
R&D to Revenue		0.02
SG&A to Revenue