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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]
"Birds of Prey" Weaponized Drone System Marketed Through Duke Robotics’ Collaboration with Elbit Featured On Israeli Television Segment
Globenewswire· 2025-08-28 13:00
Core Insights - Duke Robotics Corp. showcased its "Birds of Prey" stabilized weapons drone system on Israeli television, highlighting its role in the Israel Defense Forces' advanced drone warfare capabilities [1][2] - The "Birds of Prey" system is part of a strategic collaboration with Elbit Systems Land Ltd., and the company anticipates receiving initial revenues from sales of this system [2][4] Company Overview - Duke Robotics Corp. focuses on advanced robotics technology and autonomous drone solutions for military and civilian sectors, previously known as UAS Drone Corp [4] - The company has developed the TIKAD system, which allows for the carrying of weaponry via drones, and the IC Drone for cleaning electric utility insulators [4] Industry Context - The IDF's drone units utilize advanced technologies that have transformed modern battlefield operations, demonstrating capabilities such as surgical precision in threat neutralization [2][3] - The recent coverage on Channel 14 News provided insights into the operational use of these drone systems during the "Iron Swords" war, emphasizing their effectiveness in combat scenarios [2][3]
Duke Robotics Unveils Next-Generation IC Drone System - The ICDS2
Globenewswire· 2025-06-10 12:30
Core Viewpoint - Duke Robotics Corp. has launched its next-generation Insulator Cleaning Drone System (ICDS2), which represents a significant technological advancement in utility maintenance drone solutions [1][4]. Group 1: Technological Advancements - The ICDS2 builds upon the proven IC Drone technology with substantial performance improvements aimed at enhancing operational capabilities for utility providers globally [2]. - Key features of the ICDS2 include extended flight time, increased maximum takeoff weight (MTOW), enhanced stability, advanced radar systems, and superior cleaning durability [5]. Group 2: Operational Benefits - The extended flight duration allows for more efficient servicing of multiple high-voltage insulators in each mission, improving operational efficiency [5]. - The increased payload capacity enables the system to carry more cleaning agents, resulting in longer refill intervals and enhanced operational efficiency [5]. - Advanced stabilization algorithms and improved communication systems provide superior precision during cleaning operations, allowing for effective operations in challenging weather conditions [5]. - Next-generation sensors enhance detection capabilities, improving safety and enabling operations in complex environments [5]. - Reinforced cleaning mechanisms and optimized water delivery systems increase cleaning effectiveness while reducing maintenance requirements [5]. Group 3: Company Background - Duke Robotics Corp. focuses on advanced stabilization and autonomous solutions for both military and civilian sectors, with a history of developing innovative technologies such as the TIKAD robotic system and the IC Drone [6].
Duke Robotics Strengthens Global Growth Strategy with Appointment of Yuval Hogeg as International Business Development Director
Globenewswire· 2025-05-19 12:30
Core Insights - Duke Robotics Corp. has appointed Mr. Yuval Hogeg as the International Business Development Director to enhance its global expansion strategy [1][2][4] - Mr. Hogeg has over 22 years of experience in managing international cooperation and intelligence operations, which will aid in establishing partnerships across various regions [3][4] - The company aims to scale its IC Drone technology for high-voltage insulator maintenance and collaborate with Elbit Systems Land to market its stabilized weapons drone system, "Birds of Prey" [2][5] Company Overview - Duke Robotics Corp. focuses on advanced robotics technology and autonomous drone solutions for both military and civilian sectors [5] - The company has developed TIKAD, a robotic system for remote firing of lightweight firearms, and the IC Drone, a system for cleaning electric utility insulators [5] - Duke Robotics integrates advanced algorithms and robotic technologies for mission-critical applications, addressing the growing demand for tech solutions in modern warfare [5]
Duke Robotics Announces Commencement of 2025 Insulator Cleaning Activity with Israel Electric Corporation
Globenewswire· 2025-05-12 12:30
Core Insights - Duke Robotics Corp. has successfully launched its IC Drone services at the beginning of the 2025 insulator cleaning season, expecting increased revenues from these operations compared to the previous year [1][2][3] Group 1: Operational Highlights - The IC Drone system has been deployed at the start of the insulator cleaning season in May 2025, allowing the company to capitalize on the entire season rather than a mid-season start as in 2024 [1][2] - The company anticipates recognizing revenue from the IC Drone services in the second quarter of 2025, contrasting with 2024 when no revenue was generated due to the late start [2][3] Group 2: Technology and Market Position - The IC Drone offers a safer, more efficient, and environmentally sustainable solution for maintaining high-voltage electric infrastructure compared to traditional methods, highlighting its operational reliability and market demand [3][4] - The successful deployment of the IC Drone marks a significant transition for Duke Robotics from development to active commercial operations, supporting its global expansion strategy [4] Group 3: Company Background - Duke Robotics Corp. focuses on advanced robotics technology and autonomous drone solutions, with a product portfolio that includes the IC Drone for cleaning electric utility insulators and TIKAD for military applications [4]
Duke Robotics Evaluating Drone Operators in Preparation for Commencement of Activities in Greece
Globenewswire· 2025-04-28 12:30
Company Overview - Duke Robotics Corp. is a leader in advanced robotics technology and autonomous drone solutions, focusing on military and civilian sectors [5] - The company has developed innovative products such as TIKAD, a robotic system for remote firing of lightweight firearms, and the IC Drone, a system for cleaning electric utility insulators [5][6] European Expansion Strategy - Duke Robotics is making significant progress in selecting certified drone operators in Greece as part of its European expansion strategy [1] - The establishment of Duke Robotics Hellas I.K.E and the appointment of Alexandra Papaconstantinou as Managing Director are key steps in this strategy [1] Market Entry in Greece - CEO Yossef Balucka is personally evaluating potential drone operators in Greece, with advanced discussions ongoing [2][3] - The evaluation process focuses on technical capabilities, safety records, regulatory compliance, and the ability to support the company's growth objectives [3] Opportunities in Greece - Greece has allocated over $32 billion in EU funding for energy-related projects, aiming for 82% of its electricity to come from renewable sources by 2030 [4] - This funding creates substantial opportunities for innovative utility maintenance solutions, aligning with the offerings of Duke Robotics [4]