Workflow
ParaZero Technologies .(PRZO)
icon
Search documents
ParaZero Achieves Flawless Success with First Ever Counter-Drone Net Solution in Israel to Shield Critical Sites Against Aerial Assaults in Trial Demonstration
Globenewswire· 2025-09-04 14:15
Core Insights - ParaZero Technologies Ltd. has successfully completed a field trial of its DefendAir Stationary Turret system with Israel's homeland security authority, demonstrating its effectiveness in protecting critical infrastructure and sensitive facilities [1][2]. Group 1: Product and Technology - The DefendAir Stationary Turret system achieved 100% interception success during the trial, showcasing its capability to neutralize hostile drones using advanced optical detection and tracking [2][4]. - This system is designed to provide a last-layer defense solution, particularly in environments where traditional RF jamming or kinetic responses are unsuitable, such as near airports and energy plants [3][4]. - The turret configuration enhances ParaZero's existing defense portfolio, which includes portable, hand-held net gun solutions, thereby offering both mobile and stationary options for defense and homeland security applications [3][4]. Group 2: Company Overview - ParaZero Technologies Ltd. is an aerospace defense company focused on smart, autonomous solutions for the global manned and unmanned aerial systems (UAS) industry, founded in 2014 by aviation professionals and drone industry veterans [5]. - The company's product portfolio includes SafeAir, an autonomous parachute recovery system, DefendAir, a counter-UAS net-launching platform, and DropAir, a precision aerial delivery system [5]. - ParaZero aims to redefine aerial operations with intelligent, mission-ready systems that enhance safety, scalability, and security [5].
ParaZero Technologies .(PRZO) - 2025 Q2 - Quarterly Report
2025-08-28 20:16
Financial Performance - The company reported a net loss of $2.30 million for the six months ended June 30, 2025, compared to a net loss of $2.03 million for the same period in 2024, reflecting a 13.3% increase in losses [7]. - The operating loss for the six months ended June 30, 2025, was $3.65 million, compared to $2.23 million for the same period in 2024, indicating a 64.1% increase in operating losses [7]. - The company reported sales of $357,979 for the six months ended June 30, 2025, compared to $282,693 for the same period in 2024, representing a year-over-year increase of approximately 27% [64]. - The net loss for the six months ended June 30, 2025, was $2,295,955, compared to a net loss of $2,026,094 for the same period in 2024 [64]. Assets and Liabilities - As of June 30, 2025, total assets increased to $6.33 million from $5.74 million as of December 31, 2024, representing a 10.4% increase [3]. - Cash and cash equivalents decreased to $2.37 million from $4.18 million, a decline of 43.3% [11]. - Total current liabilities decreased to $1.24 million from $1.32 million, a reduction of 6.3% [5]. - The company had $4.8 million in cash, cash equivalents, and short-term deposits as of June 30, 2025 [13]. Research and Development - Research and development expenses rose to $1.16 million, up 74.5% from $662,440 in the prior year [7]. - Research and development expenses for the six months ended June 30, 2025, totaled $1,117,206, up from $656,775 in the same period in 2024, indicating a significant investment in R&D [64]. - The company received a total of $748,000 in grants from the Israel Innovation Authority (IIA) for research and development projects, with a maximum obligation of $587,000 as of June 30, 2025 [57][58][59]. - During the six months ended June 30, 2025, the company paid approximately $8,000 in royalties to the IIA related to revenues from products developed with IIA funds [59]. Share Issuance and Capital Raising - The company issued 2,818,182 ordinary shares, raising $2.53 million net of issuance costs during the six months ended June 30, 2025 [9]. - The Company raised gross proceeds of approximately $7.8 million from its initial public offering (IPO) on July 31, 2023, by issuing 1,950,000 ordinary shares [39]. - On October 30, 2023, the Company raised approximately $5.1 million in a private investment in public equity (PIPE) transaction, issuing 1,136,364 ordinary shares and 3,500,000 pre-funded warrants [40]. - The Company completed a registered direct offering on February 13, 2025, raising approximately $3.1 million by issuing 2,518,182 ordinary shares and 300,000 pre-funded warrants [47]. - The company closed a registered direct offering on August 4, 2025, raising approximately $2.2 million by issuing 1,700,001 ordinary shares and 300,000 pre-funded warrants [66]. Employee Compensation and Stock Options - The Company had accrued employee compensation of $374,883 as of June 30, 2025, down from $447,161 as of December 31, 2024 [32]. - The average exercise price of stock options granted during the six months ended June 30, 2025, was $1.738 per ordinary share, with a total of 102,892 options granted [52]. - The company granted a total of 1,560,165 Restricted Share Units (RSUs) with a fair value of $1,631,411, of which 587,286 RSUs were approved for the CEO and directors [54][56]. - As of June 30, 2025, there were 1,276,166 unvested RSUs outstanding, with a weighted average fair value of $1.25 per share [56]. Future Outlook - The company anticipates that its cash position, along with expected revenue from existing customers, will be sufficient to fund operations for at least the next 12 months [15]. - As of June 30, 2025, the total Remaining Performance Obligations (RPO) amounted to $432,920, which the Company expects to recognize in future periods [33]. Lease and Other Expenses - The Company reported lease expenses of $45,736 for the six months ended June 30, 2025, compared to $123,422 for the same period in 2024 [29]. - The total undiscounted cash flows for operating lease payments as of June 30, 2025, amounted to $332,997 [31]. - The company reported a decrease in deferred revenue from $142,340 as of December 31, 2024, to $115,690 as of June 30, 2025 [33]. Corporate Structure - The company has one reportable segment focused on the development and sale of autonomous parachute safety systems for commercial and military applications [62]. - A reverse share split was approved by shareholders, with a ratio between 1:5 and 1:20, to be determined by the Board within 18 months [65].
ParaZero Announces First Half of 2025 Financial Results
Globenewswire· 2025-08-28 20:15
Core Insights - ParaZero Technologies Ltd. reported a sales increase of approximately 27% compared to the same period in 2024, totaling $357,979 for the six months ended June 30, 2025 [1][5][6] - The company is focusing on the rapidly growing counter-drone and defense markets, with a projected market growth from USD 3.10 billion in 2025 to USD 12.24 billion by 2032, reflecting a CAGR of 21.62% [4] Financial and Corporate Updates - Sales increased by 26.6% to $357,979 for the six months ended June 30, 2025, driven by new product sales in the defense sector and original equipment manufacturer integrations [5][6] - The company raised approximately $3.1 million and $2.2 million in gross proceeds from registered direct offerings in February 2025 and August 2025, respectively [6] - Comprehensive and net loss amounted to $2,295,955 for the six months ended June 30, 2025, compared to a net loss of $2,026,094 for the same period in 2024 [9][19] Product and Market Developments - ParaZero secured approvals from DECA under the Israeli Ministry of Defense for the global marketing of its DefendAir counter-UAS system, achieving a 100% interception rate in live field demonstrations [4][6] - The company enhanced its portfolio with successful tests of the DropAir precise airdrop system, which enables rapid autonomous supply delivery in challenging terrains [6] - ParaZero progressed to Phase II with the Israeli Ministry of Defense, focusing on delivering pilot systems for implementation and additional operational testing [6] Cost and Expense Analysis - Cost of sales amounted to $431,888 for the six months ended June 30, 2025, compared to $209,529 for the same period in 2024, primarily due to increased sales volume and product mix [9][18] - Research and development expenses increased to $1,155,436 for the six months ended June 30, 2025, compared to $662,440 for the same period in 2024, driven by higher labor costs [9][18] - General and administrative expenses totaled $1,670,513 for the six months ended June 30, 2025, compared to $1,122,759 for the same period in 2024, mainly due to non-cash expenses related to grants [9][18]
ParaZero Concluded Another Field Test Demonstrating 100% Success Rate in Countering Hostile Drone Threats on Critical and Sensitive Infrastructure
Globenewswire· 2025-08-25 13:29
Core Viewpoint - ParaZero Technologies Ltd. has successfully completed a field trial of its Defend Air Hand-Held Net Gun System, demonstrating its effectiveness in countering drone threats to critical infrastructure [1][2][4]. Company Overview - ParaZero Technologies Ltd. is an aerospace defense company focused on smart, autonomous solutions for the global manned and unmanned aerial systems (UAS) industry, founded in 2014 by aviation professionals and drone industry veterans [5]. - The company's product portfolio includes SafeAir, DefendAir, and DropAir, aimed at enhancing safety, scalability, and security in aerial operations [5]. Product Performance - The DefendAir system achieved a 100% interception success rate during the field trial, effectively neutralizing all simulated drone threats in real-time scenarios [2][3]. - The system is designed as a last-line defense solution, particularly effective against passive, non-transmitting drones that traditional methods cannot intercept [2]. Market Insights - The global anti-drone (counter-UAS) market was valued at $2.4 billion in 2024 and is projected to grow to $12.24 billion by 2032, with a compound annual growth rate (CAGR) of 21.62% from 2025 to 2032 [4].
ParaZero Receives Order from a Defense Entity for its Counter Drone Technology
Globenewswire· 2025-08-18 11:32
Core Insights - ParaZero Technologies Ltd. has received a purchase order for its advanced Counter-Unmanned Aerial Systems (C-UAS) solution from a defense entity, marking a significant step in its expansion into the defense market and the counter-drone sector [1][2][3] - The global anti-drone market was valued at $2.4 billion in 2024 and is projected to grow to $12.24 billion by 2032, with a compound annual growth rate (CAGR) of 21.62% from 2025 to 2032 [1][2] Company Overview - ParaZero Technologies is an aerospace defense company specializing in smart, autonomous solutions for both manned and unmanned aerial systems (UAS) [1][3] - The company was founded in 2014 by aviation professionals and drone industry veterans and is recognized for its advanced drone technologies supporting various operations globally [3] - ParaZero's product portfolio includes SafeAir, DefendAir, and DropAir, focusing on aerial safety, counter-UAS capabilities, and precision aerial delivery [3] Market Context - The increasing prevalence of drones poses significant security challenges for military and non-military organizations, necessitating effective drone neutralization systems [2] - ParaZero's C-UAS solution is designed to protect critical infrastructure and public spaces while minimizing disruption during neutralization operations [2][3]
ParaZero's DefendAir System Triumphs in Field Trial, Unveiling Advanced Counter-Drone Defense Solution
Globenewswire· 2025-08-08 11:16
Core Insights - ParaZero Technologies Ltd. has successfully completed a field trial for an enhanced variant of its DefendAir system, expanding its drone defense capabilities [1][2] - The trial involved a new stationary net turret launcher system that provides 360-degree perimeter defense against hostile drones, showcasing significant advancements in autonomy and performance [2][3] - The global anti-drone market was valued at $2.4 billion in 2024 and is projected to grow to $12.24 billion by 2032, with a compound annual growth rate (CAGR) of 21.62% [4] Company Developments - The enhanced net launcher allows for a larger net deployment, improving effectiveness against faster and larger drone threats, aimed at protecting high-value sites [3][5] - ParaZero is expanding its defense offerings with the DefendAir product line, which includes both stationary and portable configurations, enhancing its position in the counter-unmanned aerial systems (C-UAS) market [5] - CEO Ariel Alon emphasized the company's commitment to developing an integrated, layered defense ecosystem to address evolving aerial threats [6] Market Context - The anti-drone market is experiencing rapid growth, indicating a rising demand for advanced drone defense solutions [4] - ParaZero's innovations align with the increasing need for security measures against complex drone attacks on critical infrastructure and valuable assets [3][5]
ParaZero and Stedicopter Receive the Israeli Ministry of Defense Approval to Market Globally the fully integrated DropAir Precision Airdrop System
Globenewswire· 2025-08-05 13:09
Core Viewpoint - ParaZero Technologies Ltd. has received official marketing approval from the Israeli Ministry of Defense for its DropAir™ Precision Airdrop System, enabling the company to market its integrated solution with Steadicopter to global clients across various sectors [1][3]. Group 1: Product and Technology - The DropAir system, integrated with Steadicopter's unmanned aerial platforms, offers precise delivery of critical payloads such as medical supplies and humanitarian aid, particularly in challenging terrains [2]. - The system is designed for autonomous deployment, enhancing covert operations and accuracy in remote or high-risk environments [2]. Group 2: Strategic Implications - The DECA export approval is a result of ParaZero's ongoing efforts to develop mission-ready aerial solutions, validating its collaboration with Steadicopter [3]. - This approval is expected to support ParaZero's growth strategy by opening new international markets for its precision aerial delivery solution and strengthening partnerships with UAV manufacturers [3][6]. Group 3: Company Background - ParaZero Technologies Ltd. is a recognized leader in advanced drone technologies, founded in 2014, and focuses on smart, autonomous solutions for the UAS industry [4]. - The company's product portfolio includes SafeAir, DefendAir, and DropAir, aimed at enhancing safety, scalability, and security in aerial operations [4]. Group 4: Partner Company Overview - Steadicopter Ltd. specializes in rotary tactical unmanned aerial systems for military and civilian missions, known for their endurance and advanced mission capabilities [5].
ParaZero Technologies Ltd. Announces $2.2 Million Registered Direct Offering
GlobeNewswire News Room· 2025-08-04 11:53
Core Viewpoint - ParaZero Technologies Ltd. has announced a registered direct offering to institutional investors, aiming to raise approximately $2.2 million through the sale of ordinary shares and pre-funded warrants at a price of $1.10 per share [1][3]. Group 1: Offering Details - The offering includes the sale of 2,000,001 ordinary shares or pre-funded warrants at a public offering price of $1.10 per ordinary share [2]. - Pre-funded warrants are immediately exercisable and can be exercised at any time until fully exercised, with a one-for-one decrease in the number of ordinary shares for each pre-funded warrant sold [2]. - The transaction is expected to close on or about August 5, 2025, pending customary closing conditions [3]. Group 2: Use of Proceeds - The net proceeds from the offering, along with existing cash, are intended for general corporate purposes and working capital [3]. Group 3: Company Overview - ParaZero Technologies Ltd. is an aerospace defense company specializing in smart, autonomous solutions for the global manned and unmanned aerial systems (UAS) industry [7]. - The company was founded in 2014 and is recognized for its advanced drone technologies, supporting various commercial, industrial, and governmental operations worldwide [7]. - Key products include SafeAir (an autonomous parachute recovery system), DefendAir (a counter-UAS net-launching platform), and DropAir (a precision aerial delivery system) [7].
ParaZero Announces Preliminary Unaudited Results for the First Six Months of 2025
Globenewswire· 2025-08-04 11:12
Core Insights - ParaZero Technologies Ltd. reported preliminary unaudited revenue of approximately $350,000 for the six months ended June 30, 2025, an increase from $283,000 for the same period in 2024, reflecting a growth of about 23.7% [2] - As of June 30, 2025, the company had cash and cash equivalents of approximately $4.8 million, a decrease from approximately $5.3 million on June 30, 2024 [2] Company Overview - ParaZero Technologies is an aerospace defense company specializing in smart, autonomous solutions for the global manned and unmanned aerial systems (UAS) industry [4] - Founded in 2014, the company is recognized for its advanced drone technologies, supporting various commercial, industrial, and governmental operations worldwide [4] - The product portfolio includes SafeAir (an autonomous parachute recovery system), DefendAir (a counter-UAS net-launching platform), and DropAir (a precision aerial delivery system) [4] - The company's mission is to enhance safety, scalability, and security in aerial operations through intelligent, mission-ready systems [4]
ParaZero Successfully Completes Field Trial of New Configuration of the DefendAir System, Offering a Comprehensive Counter-Drone Solution
Globenewswire· 2025-07-28 12:23
Core Insights - ParaZero Technologies Ltd. has successfully completed a field trial for an enhanced variant of its DefendAir system, which expands the company's drone defense capabilities [1][2] Company Developments - The trial tested a new stationary net turret launcher system that provides 360-degree perimeter defense against hostile drones, featuring an advanced optical detection and tracking system for fully autonomous operation [2] - The enhanced net launcher allows for a larger net deployment, improving effectiveness against faster and larger drone threats, aimed at securing high-value sites such as critical infrastructure and government buildings [3] - CEO Ariel Alon emphasized the company's commitment to building an integrated, layered defense ecosystem to address evolving aerial threats [5] Market Context - The global anti-drone market was valued at $2.4 billion in 2024 and is projected to grow from $3.1 billion in 2025 to $12.24 billion by 2032, with a compound annual growth rate (CAGR) of 21.62% during the forecast period [4] - ParaZero's expansion of the DefendAir product line, alongside its portable net gun configuration, strengthens its position in the counter-unmanned aerial systems (C-UAS) market, offering versatile solutions for defense and homeland security sectors [4]