Core Insights - ParaZero Technologies Ltd. has signed a non-binding Letter of Intent to acquire 100% of Lulav Space Ltd., which specializes in counter drone systems and advanced space technologies [1][4] Company Overview - ParaZero is an aerospace company focused on safety systems for commercial unmanned aerial systems and counter UAS systems, founded in 2014 [5] - Lulav Space, established in 2021, develops vision-based precision navigation systems for space robotics and has expanded into defense with counter-drone technologies [2] Acquisition Details - The acquisition is expected to close in the second quarter of 2025, subject to due diligence and definitive agreements, and will be financed through a combination of cash and equity [3] - Lulav's expertise in autonomous solutions and precision navigation is anticipated to enhance ParaZero's capabilities in the counter UAS field and open new commercial market opportunities [4]

Exhibit 99.1 ParaZero Announces 2024 Financial Results Tel Aviv, Israel, March 21, 2025 (GLOBE NEWSWIRE) -- ParaZero Technologies Ltd. (Nasdaq: PRZO) (the "company" or "ParaZero"), an aerospace company focused on safety systems for commercial unmanned aircrafts and defense Counter UAS systems, reported today its financial results for year ended December 31, 2024. Key Highlights of ParaZero's Achievements in 2024 & Recent Highlights: Expanded operations in the defense sector & Recent Highlights: Commercial d ...

Core Insights - ParaZero Technologies Ltd. reported significant advancements in 2024, particularly in the defense sector, driven by increased reliance on drones in modern warfare and urban mobility [6][7] - The company achieved a 50.2% increase in sales, reaching $932,154, attributed to a shift towards OEM integrations and recurring revenues [7][13] - ParaZero's financial position improved with a cash position of approximately $4.2 million as of December 31, 2024, following a registered direct offering and warrant exercises [9][13] Financial Performance - Sales increased by $311,646, or 50.2%, to $932,154 for the year ended December 31, 2024, compared to $620,508 in 2023 [13] - Cost of sales rose by $397,251, or 83.3%, to $873,861, primarily due to increased sales volume and an inventory write-off of approximately $114,680 [13] - Research and development expenses surged by $1,506,552, or 237%, to $2,143,353, driven by higher labor and material costs [13] - Net loss increased by $7,282,851, or 193%, to $11,054,230 for the year ended December 31, 2024, compared to a net loss of $3,771,379 in 2023 [13][20] Operational Developments - The company launched the DropAir - Precision Airdrop System for rapid delivery of blood transfusions in high-risk operational zones, successfully testing it with a leading drone company [7] - ParaZero advanced its Counter-Unmanned Aerial Systems (C-UAS) solution, securing new orders from a Tier-1 defense customer [7] - The company received regulatory approvals for its safety systems, including the Design Verification Report from the European Union Aviation Safety Agency (EASA) for its SafeAir parachute safety kits [7][8] Market Position and Collaborations - ParaZero expanded its presence in the U.S. through collaboration with Drone Nerds, one of North America's largest drone distributors [7] - The company secured a $187,000 purchase order from a U.S.-based Advanced Air Mobility company, indicating strong demand for its products [7] - ParaZero's safety technology was utilized by a leading drone solutions provider that secured a Federal Aviation Administration (FAA) waiver for Beyond Visual Line of Sight (BVLOS) operations [7]

Financial Performance - Sales increased by $311,646, or 50.2%, to $932,154 for the year ended December 31, 2024, compared to $620,508 for the year ended December 31, 2023, primarily due to a shift towards OEM integrations [298]. - Cost of sales rose by $397,251, or 83.3%, to $873,861 for the year ended December 31, 2024, compared to $476,610 for the year ended December 31, 2023, driven by increased sales volume and an inventory write-off of approximately $114,680 [299]. - The net loss and comprehensive loss for the year ended December 31, 2024, was $11,054,230, compared to a loss of $3,771,379 for the year ended December 31, 2023 [296]. - Basic and diluted loss per share increased to $(0.99) for the year ended December 31, 2024, from $(0.77) for the year ended December 31, 2023 [297]. - Net loss and comprehensive loss increased by $7,282,851, or 193%, to $11,054,230 for the year ended December 31, 2024, compared to a net loss of $3,771,379 for the year ended December 31, 2023 [309]. Expenses - Research and development expenses surged by $1,506,552, or 237%, to $2,143,353 for the year ended December 31, 2024, compared to $636,801 for the year ended December 31, 2023, mainly due to increased labor and material costs [300]. - Sales and marketing expenses increased by $593,099, or 121.6%, to $1,081,003 for the year ended December 31, 2024, compared to $487,904 for the year ended December 31, 2023, attributed to higher labor and professional service costs [301]. - General and administrative expenses rose by $927,128, or 62.9%, to $2,400,000 for the year ended December 31, 2024, compared to $1,472,872 for the year ended December 31, 2023, largely due to costs associated with being a public company [302]. Cash Flow and Financing - Net cash used in operating activities was $4,889,222 for the year ended December 31, 2024, compared to $2,938,300 for the year ended December 31, 2023, indicating an increase in operating losses [316]. - Net cash provided by financing activities was $1,820,001 for the year ended December 31, 2024, a significant decrease from $10,302,656 for the year ended December 31, 2023 [318]. - As of December 31, 2024, the company had approximately $4.2 million in cash and cash equivalents, which is expected to fund operations through the end of the first quarter of 2026 [310][311]. - The company expects to require additional capital to develop its next generation flight computer and to commercialize new products [313]. - Net cash used in investing activities increased by $122,982 to $148,739 for the year ended December 31, 2024, compared to $25,757 for the year ended December 31, 2023 [317]. Risks and Future Outlook - The company has suffered recurring losses from operations and negative cash flows since inception, primarily funded through equity securities and loans [310]. - The company anticipates that future capital requirements will depend on various factors, including the ability to generate revenues and the costs of research and development activities [314]. - The company is exposed to credit risk and currency risk, with the majority of expenses denominated in NIS while revenues are primarily USD derived [530][531]. - The company faces liquidity risks, monitoring cash flow forecasts to ensure sufficient cash for operational needs [532]. Compliance and Reporting - The company identified control deficiencies in its financial reporting process, constituting a material weakness, and is implementing corrective actions [335][337]. - The company qualifies as an "emerging growth company" under the JOBS Act, allowing for reduced reporting burdens [533]. - The company is exempt from certain auditor attestation requirements under the Sarbanes-Oxley Act of 2002 [536].

Core Insights - ParaZero Technologies Ltd. has received its first order from ABOT, a major French drone distributor, as part of a strategic partnership aimed at expanding the availability of its SafeAir parachute recovery systems in France [1][4] - The SafeAir system is designed for safe drone operations in urban and high-risk environments, featuring autonomous parachute deployment and real-time monitoring [2] - ParaZero has achieved CE Class C5 certification, enabling its SafeAir system to be integrated into drones for specific operational risk assessments under EASA regulations, facilitating safer drone operations in Europe [3] Company Overview - ParaZero Technologies is a developer of autonomous parachute safety systems for commercial and military applications, founded in 2014 by aviation professionals and drone industry veterans [5] - The company focuses on enabling safe flight operations over populated areas and beyond-visual-line-of-sight (BVLOS) for various military applications, including Counter UAS [5] Partner Overview - ABOT is a leading French company specializing in advanced drone solutions for various industries, recognized for its expertise in public safety, energy, agriculture, and surveying [6] - The partnership with ParaZero is expected to enhance the adoption of drone safety technologies across multiple sectors, including industrial inspections and emergency response [4]

Core Insights - ParaZero Technologies Ltd. has announced a strategic partnership with ABOT, a major drone distributor in France, to enhance the availability of its SafeAir parachute recovery systems in the French market [1][4] - The partnership includes the launch of a new brand, ABOT-PZ SafeAir, aimed at aligning with local market preferences and expanding the company's footprint in Europe [1][5] - ParaZero's SafeAir system is designed for safe drone operations in urban and high-risk environments, featuring autonomous parachute deployment and real-time monitoring [2] Company Overview - ParaZero Technologies is focused on developing safety systems for commercial unmanned aircraft and defense Counter UAS systems, with a commitment to innovation and safety in the drone industry [1][5] - The company has achieved CE Class C5 certification, which allows its SafeAir system to be integrated into drones for specific operational risk assessment scenarios under EASA regulations [3] - ParaZero's technology supports compliance with global aviation regulations, facilitating safer drone operations across various sectors [2][3] Market Impact - The first order placed by ABOT under the new agreement indicates strong demand for ParaZero's safety solutions in France, which is expected to accelerate the adoption of drone safety technologies in sectors such as industrial inspections and emergency response [4][5] - The collaboration is anticipated to unlock new flight modes for drone operators, enhancing operational efficiency and safety in the European drone market [5][8]

Core Viewpoint - ParaZero Technologies Ltd. has achieved regulatory compliance with the European Union Aviation Safety Agency (EASA) for its SafeAir systems, enhancing its position in the drone safety market [1][2]. Group 1: Regulatory Compliance - ParaZero's SafeAir systems have successfully achieved CE Class C5 compliance, which is essential for operating within the European market [2][3]. - This compliance simplifies the regulatory pathway for drone operators, particularly in navigating the Specific Operations Risk Assessment (SORA) process [3]. Group 2: Operational Advantages - With CE Class C5 certification, drone operators can conduct operations under the Standard Scenario STS-01, allowing flights in densely populated urban areas with controlled ground spaces [4]. - The certification reduces the need for extensive documentation and lengthy approval processes, thereby accelerating deployment timelines for both commercial and defense drone missions [4]. Group 3: Technological Features - ParaZero's SafeAir system autonomously detects critical failures and deploys a parachute to ensure safe landing, minimizing risks to people and property [5]. - The system has been integrated with leading drone platforms, enhancing safety for various applications [5]. Group 4: Market Opportunities - With the CE Class C5 certification, ParaZero is positioned to support drone operators across Europe, unlocking new business opportunities in logistics, infrastructure inspection, emergency response, and defense [6].

Core Insights - ParaZero Technologies Ltd. is transitioning to Phase II of its Precision Airdrop System project, following the successful completion of Phase I with the Israeli Ministry of Defense [1][4] - Phase II will focus on delivering pilot systems for further operational testing in various scenarios [2] - The DropAir system features an innovative parachute mechanism that ensures minimal drift and high accuracy during airdrops, with successful test results demonstrating the resilience of sensitive payloads like blood units [3][5] Company Overview - ParaZero Technologies is a leading developer of autonomous parachute safety systems for both commercial and military applications, founded in 2014 by aviation professionals and drone industry veterans [6] - The Precision Airdrop System aims to revolutionize drone-based logistical support, providing precise and secure delivery of supplies in challenging environments, adaptable to various drone platforms [5][6]

Core Viewpoint - ParaZero Technologies Ltd. has successfully closed a registered direct offering, raising approximately $3.1 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 included the sale of 2,518,182 ordinary shares and 300,000 pre-funded warrants, with the public offering price set at $1.10 per ordinary share [2]. - The pre-funded warrants are immediately exercisable and can be exercised at any time until fully exercised [2]. Group 2: Financial Proceeds and Use - The aggregate gross proceeds from the offering amounted to approximately $3.1 million, with the transaction closing on February 13, 2025 [3]. - The company plans to utilize the net proceeds from the offering, along with existing cash, for general corporate purposes and working capital [3]. Group 3: Legal and Advisory Information - Aegis Capital Corp. served as the exclusive placement agent for the offering, while Greenberg Traurig, P.A. and Gornitzky & Co. acted as co-counsels to the company [4]. - The offering was conducted under an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission [4]. Group 4: Company Overview - ParaZero Technologies Ltd. specializes in developing autonomous parachute safety systems for both commercial and military applications, including urban air mobility aircraft [6]. - The company was founded in 2014 by a group of aviation professionals and drone industry veterans, focusing on enabling safe flight operations over populated areas and beyond-visual-line-of-sight [6].

Core Viewpoint - ParaZero Technologies Ltd. has announced a registered direct offering with institutional investors, raising approximately $3.1 million through the sale of ordinary shares and pre-funded warrants at a price of $1.10 per share [1][3]. Summary by Sections Offering Details - The offering includes the sale of 2,818,182 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 minimal exercise price of $0.00001 [2]. Financial Proceeds - The aggregate gross proceeds from the offering are expected to be around $3.1 million, with the transaction anticipated to close on or about February 13, 2025, pending customary closing conditions [3]. Use of Proceeds - The net proceeds from the offering, along with existing cash, are intended for general corporate purposes and working capital [3]. Legal and Regulatory Information - Aegis Capital Corp. is acting as the exclusive placement agent for the offering, with Greenberg Traurig, P.A. and Gornitzky & Co. serving as co-counsels [4]. - The offering is made under an effective shelf registration statement previously filed with the SEC, and a final prospectus supplement will be available on the SEC's website [4]. Company Background - ParaZero Technologies Ltd. specializes in autonomous parachute safety systems for commercial and military applications, aiming to enhance safety in flight operations over populated areas and for various military uses [7].