Firan Technology Group Corporation (TSX: FTG | OTCQX: FTGFF) reported standout third-quarter 2026 financial results on October 7, 2026, with revenue climbing 34.3% year-over-year to $64.1 million and adjusted EBITDA nearly doubling to $15.1 million. Bookings surged 75% over Q3 2025 to $90.2 million, pushing the backlog to $220.7 million — a 49% rise from the prior year end. The Toronto-based aerospace and defence electronics supplier also opened a new facility in Hyderabad, India and extinguished all commercial loans during the quarter, strengthening its balance sheet.

Key Points

  • Firan Technology Group Corporation (TSX: FTG | OTCQX: FTGFF) — aerospace and defence electronics manufacturer
  • Q3 2026 revenue reached $64.1 million, up 34.3%; adjusted EBITDA rose 96.9% to $15.1 million versus Q3 2025
  • Book-to-bill ratio of 1.41:1; backlog of $220.7 million; net earnings of $10.0 million; free cash flow of $7.1 million
  • Investors may be watching for sustained defence program deliveries, India facility ramp-up, and continued bookings momentum

FTG Circuits and Aerospace Both Deliver Strong Revenue Growth

FTG Circuits generated Q3 2026 revenue of $45.1 million, a 40.3% increase over Q3 2025, driven by operational improvements at several U.S. sites, short-term pricing premiums for expedited delivery, and $0.9 million from favourable exchange rates. Adjusted net earnings for the Circuits division rose $5.3 million to $7.6 million. FTG Aerospace contributed $19.8 million in revenue, up 18.2%, with organic growth, a contract cancellation charge, and favourable foreign exchange all contributing. Aerospace adjusted net earnings reached $2.8 million, an increase of $1.9 million compared to Q3 2025.

Defence Program Qualifications and Record Bookings Drive Backlog to $220.7 Million

FTG Circuits qualified for two large-scale classified defence programs in 2025, and the release states that significant orders for these programs have ramped up, contributing materially to Q3 2026 sales and earnings. Customer bookings reached $90.2 million in the quarter — a 75% year-over-year increase — with many orders carrying pricing premiums for expedited delivery. The resulting backlog of $220.7 million represents a 49% rise from the previous year end, a figure that investors may view as a forward indicator of revenue visibility. President and CEO Brad Bourne described Q3 2026 as "an exceptional quarter," citing record financial metrics and continued robust end-market demand.

Hyderabad Facility Opens and Balance Sheet Strengthened Through Loan Repayment

During Q3 2026, FTG opened its new FTG Aerospace facility in Hyderabad, India. The release states this footprint reduces exposure to U.S. tariff risk and provides access to India's emerging domestic aerospace and defence market. On the balance sheet, the company extinguished all commercial loans using cash generated from operations, ending the quarter with net cash of $3.9 million, including $8.9 million of government loans. FTG also ratified a new four-year collective agreement with unionised employees at its Circuits Toronto facility, expiring in July 2030, and appointed Deloitte LLP as its new external auditor.

International Diversification Adds New Customers in Europe and Australia

Beyond India, FTG recently qualified with new customers in Europe and Australia, according to the announcement. The company characterises this international diversification as a measure to reduce exposure to global tariff risks. Year-to-date 2026 revenue stood at $164.1 million versus $139.3 million in the comparable prior-year period. Trailing twelve-month adjusted EBITDA reached $40.8 million, and trailing twelve-month adjusted earnings per share (basic) were $0.90. The immediate share price impact of these results was not clear from available public information.