FTG posts $90.2 million in Q3 bookings, raises backlog

• Bookings rose 75% year on year to $90.2 million, with a book-to-bill ratio of 1.41:1.
• Quarter-end backlog reached $220.7 million, up 49% from the previous year end.
• Revenue increased 34.3% to $64.1 million and adjusted EBITDA nearly doubled to $15.1 million.
• FTG opened an aerospace facility in Hyderabad, India, and appointed Deloitte LLP as external auditor.

Firan Technology Group said third-quarter bookings reached $90.2 million in 2026, up 75% from the same period a year earlier. Revenue was $64.1 million, while adjusted EBITDA came in at $15.1 million.

FTG posts $90.2 million in Q3 bookings, raises backlog

The company said quarter-end backlog stood at $220.7 million, a 49% increase from the previous year end. It also reported net earnings of $10.0 million and free cash flow of $7.1 million.

Operating performance

FTG said Circuits revenue rose to $45.1 million from $32.1 million a year earlier. The company said the increase reflected operational improvements at several U.S. sites, short-term pricing premiums and $0.9 million from favourable exchange rates.

Aerospace revenue increased to $19.8 million from $16.8 million. FTG said the change was driven by $2.2 million of organic growth, $0.5 million of a contract cancellation charge and $0.3 million of favourable foreign exchange variance.

Capital and management

The company said it maintained net cash of $3.9 million, including $8.9 million of government loans. It also said it extinguished all commercial loans during the quarter with cash generated from operations.

FTG said it opened a new aerospace facility in Hyderabad, India, in the quarter. It also said it negotiated and ratified a new four-year collective agreement with represented employees at its Circuits Toronto facility, with expiry in July 2030.

The company said it appointed Deloitte LLP as its new external auditor in the quarter.

Q3 2026 was an exceptional quarter for FTG.

— Brad Bourne, President and CEO

Bourne said the company exceeded the record financial performance set in the prior quarter and saw continued operational improvements at many Circuits and Aerospace sites. He said FTG continued to see robust end-market demand with record bookings and backlog.