Safe Pro Group Inc. - SPAI STOCK NEWS

Safe Pro Group (NASDAQ:SPAI) reported strong financial results for Q3 2024, with revenue increasing 102.2% to $330,756 compared to $163,547 in Q3 2023. Nine-month revenues grew 100.2% to $1.28 million. The company's gross margin improved to 40.6% in Q3 2024 from 38.2% in Q3 2023.

Following its IPO in August 2024, Safe Pro achieved significant milestones, including recording first revenue from its SpotlightAI™ platform in Ukraine, receiving USPTO patent allowance for explosive detection technology, and expanding drone-based services. The SpotlightAI™ platform has processed over 840,614 images and identified over 10,912 landmines.

Safe Pro Group (Nasdaq:SPAI) has released a video showcasing their SpotlightAI™ demining solution at the AWS Summit Washington, D.C. The technology, powered by Amazon Web Services, processes drone-based imagery to detect and geo-locate landmines and unexploded ordnance in Ukraine. SpotlightAI™ utilizes machine learning models capable of identifying 150+ types of explosive devices, generating high-resolution orthomosaic maps with GPS-tagged locations. The system helps humanitarian organizations improve situational awareness and expedite land clearance operations for agricultural and civilian use.

Safe Pro Group Inc. (Nasdaq:SPAI) has launched SpotlightAI™ 3.0, an advanced AI solution powered by AWS for drone imagery analysis in mine detection. The system has processed over 757,516 drone images in Ukraine, identifying 6,151 explosive remnants of war across 3,135 hectares. The new version features enhanced 3D modeling capabilities and improved AI models trained on thousands of real-world samples. Processing each image in less than 0.2 seconds, SpotlightAI™ significantly outperforms human analysts in detecting mines and explosive devices as small as a palm. The technology is currently being used by international humanitarian mine action organizations and government entities in Ukraine, where an estimated 17 million hectares of land are contaminated with explosive ordnance.

Safe Pro Group Inc. (NASDAQ:SPAI) announced that its Airborne Response division has partnered with Skydio, Inc. to offer advanced autonomous drone solutions for public safety, emergency services, disaster response, and critical infrastructure customers. Airborne Response, a leading provider of drone-based inspection services in Florida, will expand Skydio's reach in the Southeast United States, particularly in Florida where demand for autonomous drone systems is high.

The partnership aims to bring Skydio's hardware and software technologies to law enforcement and first responders. These drone systems can be quickly dispatched to capture real-time video, improving situational awareness and potentially reducing costs by eliminating unnecessary personnel deployment. The collaboration is particularly timely given the recent hurricane, highlighting the critical nature of this technology for public safety agencies and utilities.

Safe Pro Group Inc. (NASDAQ:SPAI) has launched its latest advancement in ballistics protection, the '305 PRO' hard armor plate. Key features of this ultra-lightweight and ultra-thin plate include:

• Compliance with NIJ Standards 0101.06 Level III++ and NIJ 0101.07 Level RF1
• Weight as low as 2.25lbs
• Thickness of just 0.85 inches
• SAPI multi-curve design available in multiple sizes

The first units have been delivered to a South Florida Police Department, and the product is now available on Safe Pro's GSA Schedule for purchase by state, local, and federal agencies. Safe-Pro USA, a HUBZone-certified small business, manufactures these plates in Florida using advanced ultra-high molecular weight polyethylene hybrid composites.

Safe Pro Group Inc. (NASDAQ:SPAI) announced that its subsidiary, Airborne Response, has deployed unmanned aircraft systems (UAS) teams to support recovery efforts in Florida following Hurricane Milton. The Category 3 storm has left approximately 2.4 million Floridians without power. Airborne's drone teams are assisting multiple customers, including:

1. The state's largest power utility (existing contract)
2. Florida's second largest municipal utility operator (new emergency services contract)
3. Citizens Property Insurance (for rapid property damage assessment)

Airborne Response has been supporting disaster response efforts in Florida for nearly a decade, with dozens of trained pilots ready to respond. Their services are important for assessing damage to critical infrastructure, power grids, and residences, enabling swift response to severe weather incidents.

Safe Pro Group Inc. (NASDAQ:SPAI) has received a Notice of Allowance from the USPTO for its AI-powered drone imagery technology that detects and locates explosives. The patent, set to expire in 2043, covers 21 claims for the SpotlightAI™ platform, which can identify over 150 types of landmines and UXO. The company has also filed for global patent protection with WIPO under the PCT, covering 157 contracting states.

SpotlightAI™, powered by AWS, is currently operational in Ukraine, collaborating with humanitarian mine action organizations, including the UNDP. The system uses advanced machine learning to process drone imagery, creating detailed GPS-tagged maps for demining efforts. AWS recently published a case study on SpotlightAI™'s effectiveness in global demining.

Safe Pro Group Inc. (Nasdaq: SPAI) announced that its subsidiary, Airborne Response, has secured a one-year contract extension from Citizens Property Insurance for aerial services. This marks the second annual extension since the initial 3-year agreement in 2018. Airborne Response will use Florida-compliant drones for routine and disaster response flight services, helping Citizens assess roof structures and other targets of interest.

The extension demonstrates Citizens' trust in Airborne Response and the value of their services. Airborne Response serves leading energy, telecommunications, and insurance firms across Florida, using drones to assess the power grid condition and evaluate storm damage. The company is also expanding its on-demand disaster drone flight services throughout the Southern U.S.

Safe Pro AI, a subsidiary of Safe Pro Group Inc. (Nasdaq: SPAI), has completed a Phase III drone survey operation in Ukraine under a UNDP purchase order. The company analyzed land in Kharkiv Oblast using its AI-powered SpotlightAI™ system, which is built on AWS. This operation is part of a multi-year technology evaluation program by UNDP, aimed at enhancing land release efficiency in agricultural areas contaminated by landmines and unexploded ordnance.

SpotlightAI™ can rapidly identify and GPS-locate landmines and UXO from drone imagery, significantly reducing time and costs compared to human-based analysis. This capability is important in Ukraine, where an estimated 139,300 km² area is potentially contaminated. The system has demonstrated its ability to enhance the current land survey process through real-world evaluations conducted by UNDP and other stakeholders in Ukraine.