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Duke Robotics Announces $750,000 Private Placement at a Premium to Market
Globenewswire· 2026-01-05 13:30
Core Viewpoint - Duke Robotics Corp. has successfully raised $750,000 through a private placement, which is expected to strengthen its balance sheet and support near-term execution opportunities in advanced robotics technology and autonomous drone solutions for civilian and defense markets [1][2]. Group 1: Private Placement Details - The private placement involved a definitive securities purchase agreement with accredited investors, raising gross proceeds of $750,000 [1]. - Units in the private placement are priced at $0.36 per unit, each consisting of one share of common stock and one warrant to purchase an additional share at $0.65, expiring on November 30, 2026 [3]. - The proceeds will be utilized for working capital and general corporate purposes, including ongoing operational and commercialization initiatives [2]. Group 2: Company Overview - Duke Robotics develops advanced stabilization and autonomous robotic drone systems for both civilian and defense markets, including the Insulator Cleaning Drone (IC Drone) and the Bird of Prey weapons drone system [6]. - The IC Drone offers a safer and more efficient method for cleaning high-voltage electric utility insulators, while the Bird of Prey system is designed for non-line-of-sight engagements [6].
Duke Robotics Reports Third Quarter 2025 Financial Results and Provides Business Update
Globenewswire· 2025-11-17 13:00
Core Insights - Duke Robotics Corp. reported significant progress in its international expansion strategy during Q3 2025, particularly in Greece, and noted a growing government focus on drone technologies globally [2][3] Financial Results - Revenue for Q3 2025 was $216,000, a substantial increase from $72,000 in Q3 2024, driven by the expansion of commercial IC Drone service operations [6][13] - Gross profit for Q3 2025 was $123,000, compared to $31,000 in the same period of 2024, reflecting improved operational scale and efficiency [6][13] - R&D expenses for Q3 2025 were $34,000, up from $20,000 in Q3 2024, indicating ongoing investment in advanced technologies [6][13] - G&A expenses for Q3 2025 were $302,000, compared to $229,000 in Q3 2024, primarily due to increased personnel and share-based compensation [6][13] - Operating loss for Q3 2025 was $213,000, a slight improvement from $218,000 in Q3 2024, showing benefits from operating leverage [6][13] - Net loss for Q3 2025 was $230,000, or $(0.00) per share, compared to a net loss of $211,000, or $(0.00) per share, in Q3 2024 [6][13] Year-to-Date Financial Performance - Revenue for the nine months ended September 30, 2025, was $359,000, significantly up from $72,000 in the same period of 2024 [11][13] - Gross profit for the nine-month period was $203,000, compared to $31,000 for the same period in 2024, driven by higher revenues and improved margins [11][13] - R&D expenses for the nine months ended September 30, 2025, were $79,000, down from $137,000 in the same period of 2024, reflecting a shift in resource allocation [11][13] - G&A expenses for the nine-month period were $875,000, compared to $636,000 for the same period in 2024, due to increased personnel and share-based compensation [11][13] - Operating loss for the nine months ended September 30, 2025, was $751,000, compared to $742,000 in the corresponding period of 2024 [11][13] - Net loss for the nine-month period was $778,000, or $(0.01) per share, compared to a net loss of $698,000, or $(0.01) per share, in the same period of 2024 [11][13] Balance Sheet Highlights - Cash and cash equivalents were $361,000 as of September 30, 2025, down from $1.26 million as of December 31, 2024, reflecting ongoing investments and operating cash use [8][12] - Trade receivables totaled $236,000 as of September 30, 2025, primarily from the Israel Electric Corporation [8][12] - The company believes its current cash resources and projected receipts are sufficient to support operations through the second quarter of 2026 [8]