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Pre-IPO Gecko Robotics Wins Its Biggest-Ever Navy Contract
Yahoo Finance· 2026-03-29 10:26
Company Overview - Gecko Robotics specializes in building various types of robots, particularly known for their ability to climb surfaces and inspect for structural defects [2] - The company is privately owned, making it challenging for investors to access current financial data [3] Financial Performance - Gecko Robotics has grown from $0 in revenue at its founding 10 years ago to $34.5 million by June 2024, and is projected to reach $60 million by the end of 2024 [3] - The company recently secured a contract worth $71 million, which exceeds its total revenue collected since inception [4] Recent Contract - The U.S. Navy awarded Gecko a five-year, $71 million contract to inspect 18 warships for flaws that are not visible to the human eye [5] - Gecko's robots can perform inspections up to 50 times faster and more accurately than manual methods, potentially leading to cost savings for the Navy [6] - There is a possibility that the Navy may expand the contract to cover more than ten times the number of vessels currently included in the contract [6]