ParaZero Announces Preliminary Unaudited Results for the Year Ended December 31, 2024
ParaZero Technologies (Nasdaq: PRZO), an aerospace company specializing in safety systems for commercial unmanned aircrafts and defense Counter UAS systems, has released its preliminary unaudited results for 2024. The company reports expected revenue growth of approximately 45%, reaching around $900,000 compared to $620,000 in 2023.
The company's cash and cash equivalents stood at approximately $4.2 million as of December 31, 2024, down from $7.4 million at the end of 2023. The company notes that these preliminary figures are based on current estimates and subject to completion of year-end financial results, pending formal audit review.
ParaZero Technologies (Nasdaq: PRZO), un'azienda aerospaziale specializzata in sistemi di sicurezza per droni commerciali e sistemi di difesa Counter UAS, ha pubblicato i suoi risultati preliminari non verificati per il 2024. L'azienda riporta una crescita dei ricavi prevista di circa il 45%, raggiungendo circa $900,000 rispetto ai $620,000 del 2023.
Le liquidità e disponibilità liquide dell'azienda ammontavano a circa $4,2 milioni al 31 dicembre 2024, in calo rispetto ai $7,4 milioni della fine del 2023. L'azienda sottolinea che queste cifre preliminari si basano su stime attuali e sono soggette al completamento dei risultati finanziari di fine anno, in attesa della revisione formale dell'audit.
ParaZero Technologies (Nasdaq: PRZO), una empresa aeroespacial especializada en sistemas de seguridad para aeronaves no tripuladas comerciales y sistemas de defensa Counter UAS, ha publicado sus resultados preliminares no auditados para 2024. La empresa informa un crecimiento de ingresos esperado de aproximadamente el 45%, alcanzando alrededor de $900,000 en comparación con $620,000 en 2023.
Los efectivo y equivalentes de efectivo de la empresa se situaron en aproximadamente $4.2 millones al 31 de diciembre de 2024, en comparación con $7.4 millones a finales de 2023. La empresa señala que estas cifras preliminares se basan en estimaciones actuales y están sujetas a la finalización de los resultados financieros de fin de año, pendientes de revisión formal de auditoría.
ParaZero Technologies (Nasdaq: PRZO)는 상업용 무인 항공기 및 방어용 Counter UAS 시스템에 대한 안전 시스템을 전문으로 하는 항공 우주 회사로, 2024년의 예비 비감사 결과를 발표했습니다. 회사는 약 45%의 예상 수익 성장을 보고하며, 2023년의 $620,000에 비해 약 $900,000에 이를 것으로 예상하고 있습니다.
회사의 현금 및 현금성 자산은 2024년 12월 31일 기준으로 약 $4.2백만으로, 2023년 말의 $7.4백만에서 감소했습니다. 회사는 이러한 예비 수치가 현재 추정치를 기반으로 하며, 연말 재무 결과의 완료와 공식 감사 검토에 따라 달라질 수 있음을 주목하고 있습니다.
ParaZero Technologies (Nasdaq: PRZO), une entreprise aérospatiale spécialisée dans les systèmes de sécurité pour les aéronefs sans pilote commerciaux et les systèmes de défense Counter UAS, a publié ses résultats préliminaires non audités pour 2024. L'entreprise rapporte une croissance des revenus attendue d'environ 45%, atteignant environ 900 000 $ par rapport à 620 000 $ en 2023.
Les liquidités et équivalents de liquidités de l'entreprise s'élevaient à environ 4,2 millions de dollars au 31 décembre 2024, en baisse par rapport à 7,4 millions de dollars à la fin de 2023. L'entreprise souligne que ces chiffres préliminaires sont basés sur des estimations actuelles et sont soumis à l'achèvement des résultats financiers de fin d'année, en attente d'un examen formel de l'audit.
ParaZero Technologies (Nasdaq: PRZO), ein Luft- und Raumfahrtunternehmen, das sich auf Sicherheitssysteme für kommerzielle unbemannte Flugzeuge und Verteidigungssysteme gegen UAS spezialisiert hat, hat seine vorläufigen, nicht geprüften Ergebnisse für 2024 veröffentlicht. Das Unternehmen berichtet von einem erwarteten Umsatzwachstum von etwa 45%, das etwa $900,000 erreichen soll, verglichen mit $620,000 im Jahr 2023.
Die flüssigen Mittel und Zahlungsmitteläquivalente des Unternehmens beliefen sich zum 31. Dezember 2024 auf etwa $4,2 Millionen, ein Rückgang von $7,4 Millionen zum Ende des Jahres 2023. Das Unternehmen weist darauf hin, dass diese vorläufigen Zahlen auf aktuellen Schätzungen basieren und noch der Fertigstellung der Jahresabschlusszahlen sowie der formalen Prüfungsüberprüfung unterliegen.
- Revenue growth of 45% year-over-year, reaching $900,000
- Maintained substantial cash position of $4.2 million
- Cash position decreased by $3.2 million (43%) during 2024
- Annual revenue remains under $1 million despite growth
Insights
The preliminary results reveal a complex financial picture for ParaZero. The 45% revenue growth to
The cash burn to revenue ratio is particularly noteworthy - the company is spending roughly
The unaudited nature of these results adds a layer of uncertainty, as final audited figures could differ materially. The preliminary revenue figure of
The divergence between revenue growth and cash consumption indicates significant investments in either R&D, market expansion, or operational infrastructure. While such investments could potentially accelerate future growth, the current financial metrics suggest a need for more efficient capital deployment or a clear path to substantially higher revenues to justify the burn rate.
Tel Aviv, Israel, Feb. 11, 2025 (GLOBE NEWSWIRE) -- ParaZero Technologies Ltd. (Nasdaq: PRZO) (the "Company or “ParaZero”), an aerospace company focused on safety systems for commercial unmanned aircrafts and defense Counter UAS systems, today announces preliminary unaudited results for the year ended December 31, 2024.
The Company’s revenues for the year ended December 31, 2024 are expected to increase by approximately
As of December 31, 2024, the Company had cash and cash equivalents of approximately
This unaudited preliminary and partial financial information regarding revenues for the year ended December 31, 2024, is based upon the Company’s estimates and is subject to completion of its year-end financial results. Moreover, this financial information has been prepared solely on the basis of currently available information. The Company’s independent registered public accounting firm has not audited, reviewed or performed any procedures with respect to such preliminary information or the accounting treatment thereof and does not express an opinion or any other form of assurance with respect thereto. This preliminary and partial financial information is not a comprehensive statement of the Company’s financial results for this period.
About ParaZero Technologies
ParaZero (Nasdaq: PRZO) is a leading developer of autonomous parachute safety systems technologies for commercial and military platforms as well as for urban air mobility (UAM) aircraft. Started in 2014 by a passionate group of aviation professionals and drone industry veterans, ParaZero develops and manufactures smart, autonomous parachute safety systems designed to enable safe flight operations over populated areas and beyond-visual-line-of-sight (BVLOS) as well as for various military applications including Counter UAS. For more information about ParaZero, please visit https://parazero.com/
Forward-looking statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, ParaZero is using forward-looking statements when it discusses its estimated revenue for the year ended December 31, 2024. Such unaudited results described in this press release are subject to adjustment resulting from the Company’s completion of its internal financial accounting procedures, as well as the audit of the Company’s financial statements by its independent registered public accounting firm. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report on From 20-F for the year ended December 31, 2023. Forward- looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. ParaZero is not responsible for the content of third-party websites.
Investor Relations Contact:
Michal Efraty
Investor Relations
michal@efraty.com
FAQ
What was ParaZero's (PRZO) revenue growth in 2024?
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