Drone Aviation achieved record revenue and profit in the third quarter of 2019 due to growing demand for its Wasp aerostats, according to the Jacksonville, Florida-based startup.
Gross revenue totalled USD2.7 million in the quarter, up from US84,815 in the same period a year earlier, the company said on 14 November. Net income was USD574,296 in the third quarter, compared with a loss of USD1.2 million a year ago.
Wasp deliveries to the US Army and the US Border Patrol, along with related field services for the Border Patrol, fueled the improved financial results, the company said.
Wasp deployments are “generating valuable operational experience,” which will help the company’s future performance, said Dan Erdberg, Drone Aviation’s chief executive officer and president.
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