Strong performance driven by regional expansion and product innovation
Cyberhawk™, a leader in drone inspection services and visual data management, reported a 55 percent increase in revenue for fiscal 2024, which ends March 31. The company’s total sales reached $28.7 million.
Regional growth and diverse product offering
Cyberhawk’s growth was across key regions, including the UK, the US and the Middle East. Their innovative solutions and diverse products have strongly appealed to these markets, resulting in sustained revenue growth from both new and existing customers. The company has more than doubled the unique licenses for its flagship software, iHawk™, highlighting the growing demand for advanced visual data management.
“We are extremely proud of our achievements in fiscal 2024,” said Chris Fleming, CEO of Cyberhawk. “We’ve seen significant growth globally, with notable success in the U.S. Adoption of our iHawk platform has increased software revenue by more than 100 percent. We work with the world’s largest energy, asset management and construction companies to deliver innovative, faster and more secure visual data management solutions that deliver significant ROI in both savings and security.”
Strategic expansion and customer focus
To support this growth, Cyberhawk expanded its US sales and operations teams, increased software development capacity in the UK and expanded operations in the Middle East. These extensions are part of Cyberhawk’s commitment to provide end-to-end solutions tailored to customer needs. This approach ensures the provision of quality information that enables quick and efficient decision-making.
“It’s another outstanding year of financial performance that creates a foundation on which we can continue to build,” said John Comiskey, Chief Financial Officer of Cyberhawk. “In line with our strategic goal of providing end-to-end service solutions to our customers, we increased our drone inspections and related software services by 48 percent and 106 percent, respectively.
Looking ahead
In the coming months, Cyberhawk plans to launch new products and services. This includes AVIATE by Cyberhawk (Accelerated Visual Integration and Technology Enabler), which helps customers remotely deploy or upgrade their UAS programs. In addition, it will introduce technical improvements to its Visualive™ data management software for better controls.
Founded in 2008, Cyberhawk has been a pioneer in the industry. The company conducts hundreds of thousands of inspections and surveys annually and has achieved more than 35 world firsts. Cyberhawk’s growth reflects the growing acceptance of drone inspections as standard practice, signaling that the drone industry is beginning to reach its long-awaited scale.
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Miriam McNabb is the editor-in-chief of DRONELIFE and CEO of JobForDrones, a marketplace for professional drone services, and a fascinated observer of the emerging drone industry and drone regulatory landscape. Miriam has written over 3,000 articles focused on the commercial drone space and is an international speaker and respected industry figure. Miriam has a degree from the University of Chicago and over 20 years of experience in new technology sales and marketing.
For drone consulting or writing, email Miriam.
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