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Safe Pro Group (NASDAQ: SPAI) has announced its expected financial performance for fiscal year 2024, projecting record-breaking revenue growth of over 130% compared to 2023. The company's fourth quarter showed exceptional performance with a 200+% revenue increase compared to the same period last year.
The growth was driven by strong sales across the company's three main business segments: mission-critical drone services, ballistic products, and artificial intelligence solutions. Notably, the company's AI platform has demonstrated significant operational success in Ukraine, where it has identified over 16,000 mines and explosive items. The company plans to file its Annual Report on Form 10-K by March 31, 2025.
Safe Pro Group Inc. (SPAI) showcased its AI-powered drone imagery analysis technology at NATO's 10th Annual Explosive Ordnance Disposal Workshop. The NATO EOD Center of Excellence's report highlighted AI as a transformative asset in EOD tasks, encouraging its integration for improved operational efficiency and safety. Safe Pro's SpotlightAI™ system has demonstrated significant results in Ukraine, analyzing over 921,471 drone images and identifying 16,540 explosive remnants of war across 4,219 hectares. The system processes images in under 0.2 seconds, compared to several minutes for human analysis.
The technology utilizes advanced machine learning models capable of identifying 150+ types of landmines and UXO, operating both locally and through AWS Cloud. The system generates detailed GPS-tagged maps for enhanced situational awareness in clearing operations.
Safe Pro Group Inc. (NASDAQ:SPAI) announced continued production ramp-up at its Safe-Pro USA subsidiary to fulfill orders of concealable body armor vests for a national security distributor. The company expects to record revenue for these deliveries in Q4 2024, contributing to projected record annual revenue.
The company has successfully completed ballistic testing of its '305 PRO' body armor plates under the National Institute of Justice (NIJ) certification process. This certification will demonstrate compliance with the NIJ 0101.07 standard and is expected to create additional sales opportunities with government customers. Safe-Pro USA, a HUBZone-certified small business with over 30 years of combined US defense industry experience, manufactures ultra-premium bullet and blast resistant protection equipment for military, law enforcement, and humanitarian markets.
Safe Pro Group (NASDAQ: SPAI) has launched SpotlightAI™ ONSITE, a Windows-based software for real-time drone imagery analysis focusing on landmine and unexploded ordnance detection. The software, currently being tested in Ukraine, processes imagery locally on laptops without requiring cloud connectivity, compatible with commercial drones.
Key features include real-time analysis powered by over 100,000 labeled images, compatibility with NATO-compliant mapping applications and Google Earth, and optional AWS cloud integration for enhanced mapping capabilities. The system has already processed over 921,471 images, analyzed 12,901 GB of data, and identified 16,540 landmines in Ukraine, working with organizations including the UNDP.
Safe Pro Group Inc. (Nasdaq: SPAI) has filed a new provisional patent application with the USPTO for technology that uses drones and AI to improve object detection precision, specifically targeting the reduction of false positives in identifying explosives, landmines, and unexploded ordnance. This follows their first patent awarded on November 19, 2024.
The company's SpotlightAI™ platform has demonstrated significant real-world impact in Ukraine, processing over 921,471 images, analyzing more than 12,901 GB of data, and identifying over 16,540 landmines and unexploded ordnance. The technology is being used by multiple humanitarian organizations, including the UNDP.
The system is compatible with commercial drones and can identify 150+ types of land mines and UXO, operating both locally at the Edge and through AWS Cloud for enhanced scalability.
Safe Pro Group Inc. (SPAI) has achieved a significant milestone in Ukraine, detecting over 16,500 lethal explosive items using its AI-powered SpotlightAI™ software and everyday drone imagery. The system has analyzed more than 921,471 drone images across 4,219 hectares, processing each image in under 0.2 seconds on AWS cloud.
The company is collaborating with the Ukrainian government, United Nations, and humanitarian organizations to accelerate demining efforts. SpotlightAI™, their patented system, can identify over 150 types of landmines and explosive remnants of war, creating detailed GPS-tagged maps for clearing operations.
With World Bank estimates suggesting 17 million hectares of Ukrainian land may be contaminated with explosives, Safe Pro is expanding its efforts beyond humanitarian land release to support reconstruction of civilian infrastructure, including roads, bridges, dams, and utilities.
Safe Pro Group's Airborne Response division has achieved key milestones in implementing a Drone-as-First-Responder (DFR) solution for a Florida municipal police department. The contract includes installation of Florida-compliant drones and weatherproof 'drone nest' recharging stations with automated battery swapping. The company has completed multisite installations, secured FAA approvals, integrated radar coverage, and provided pilot training for 24/7/365 operations.
The solution aims to enhance public safety response capabilities at a fraction of the cost of traditional helicopter operations. The system includes real-time video transmission capabilities, allowing trained operators to assess situations and share information with first responders before arrival.
Safe Pro Group's subsidiary Airborne Response has secured a purchase order for drone-based tower inspections from a multinational telecommunications firm in South Florida for 2025. The project involves using Skydio drones to inspect radio towers used by municipal fire & rescue departments. The company recently completed over 500 miles of powerline inspections following Hurricane Milton, contributing to strong Q4 2024 drone services revenue growth. Airborne Response serves energy, telecommunications, and insurance firms across Florida, providing infrastructure monitoring and storm damage assessment services.
Safe Pro Group Inc. (SPAI) has entered into a memorandum of understanding with a U.S. prime contractor to develop threat detection solutions and pursue U.S., E.U., and NATO contracts. The collaboration leverages Safe Pro's AI-powered drone imagery processing technology. Additionally, the company received a purchase order for landmine and UXO imagery from a U.S. subcontractor. Safe Pro's SpotlightAI™ technology, currently operational in Ukraine, has processed over 840,614 images, analyzed over 11,768 GB of data, and identified over 10,912 real-world landmines and unexploded ordnance while working with organizations including the UNDP.
Safe Pro Group (Nasdaq: SPAI) has been awarded US Patent No. 12,146,729 for its SpotlightAI™ technology, which detects and maps explosives using AI-powered drone imagery analysis. The patent, valid until 2043, includes 21 claims covering autonomous detection of explosives in orthomosaic images. The system, powered by AWS, has already identified over 10,000 landmines in Ukraine, processing 840,614 images and 11,768 GB of data. The technology can identify 150+ types of landmines and UXO, creating GPS-tagged, high-resolution maps for clearing efforts. The company has also filed for global patent protection through WIPO covering 157 Contracting States.
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