Release Date: March 12, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: Can you provide more color on your visibility into the $20 million revenue target for 2025, including the timing of orders and the mix between Optimus and Iron Drone? A: We expect the $10 million backlog to be realized in the first and second quarters. We are actively engaged with military and public safety customers for new and expanded programs with both Iron Drone and Optimus, particularly in the Middle East and Dubai.
Q: Can you update us on the first responder opportunity in the US market and how changes in drone access are impacting interest in the Optimus platform? A: There is significant interest in Optimus, especially as demand for DFR programs grows rapidly in the US. We conducted a successful pilot program with a major public safety customer, and we are awaiting further developments on commercial orders.
Q: How does the partnership with Palantir work, and why is it considered a partnership rather than just a customer relationship? A: The partnership with Palantir involves integrating their Foundry AI platform to enhance our operational efficiencies and product capabilities. This collaboration is expected to evolve, with Palantir's AI being embedded in our solutions, providing advanced AI-enabled capabilities to our customers.
Q: What is the competitive environment for drone-in-the-box solutions, particularly for Optimus, both domestically and internationally? A: Optimus stands out with its unique capabilities like persistent availability and industrial-grade docking, which are crucial for DFR applications. In the US, competitors include Skydio and DJI, but Optimus's ability to operate in extreme conditions gives it a competitive edge.
Q: Can you discuss the cash position and any potential need for additional capital in 2025? A: We feel confident about our cash position for 2025, with $30 million on hand. As revenue ramps up, we expect operating leverage to reduce cash burn progressively, with sequential growth in revenues and gross profit throughout the year.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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