Parrot Group, a leading Europe-based drone industry player, is reporting consolidated revenues of $15.15 million (€12.4 million) for the first quarter of 2021. These results do not take into account the revenues from the precision farming sensor unit, MicaSense, that the company sold to AgEagle Aerial Systems in January 2021.
The drone manufacturer says its revenues from the microdrones segment skyrocketed for the three months through March, driven by strong sales of both its 180-degree tilt gimbal consumer drone ANAFI and the 32x zoom ANAFI USA enterprise use drone. Despite a voluntary scaling down of consumer products, Parrot’s microdrone revenues are up 50.5% because the company is steadily growing business with professional clients and governments.
This growing enterprise focus becomes even more evident with a recent deal that the French drone-maker has struck with situational awareness technology experts, Rapid Imaging. With this partnership, Parrot is striving to bring incredibly useful geospatial augmented reality (AR) capabilities to ANAFI and ANAFI USA government and business users.
Meanwhile, revenues generated by Parrot’s drone data analysis software arm, Pix4D, are down 8.8%. And the company attributes that to winter weather, which restricted drone flights in January and February. Even then, there has been continued growth in user numbers, says Parrot, adding that recovery has been “very good” in March and April.
However, the performance by the Group’s fixed-wing drone unit, senseFly, is quite dismal. Revenues have shrunk 36%. And once again, Parrot says it is because winter weather conditions held back the pace of client investments.
That said, it’s worth noting that the company introduced three new eBee drone models targeting different needs and markets in February 2021, and we can expect to see their contribution to the bottom line in the coming months.
Parrot Group’s revenue outlook for 2021
Parrot is offering a positive outlook for 2021, detailing that growth could accelerate over the second half of the year, driven by upcoming deliveries in the Defense and Security sector. A statement by the company says:
The strategy applied by the Group since 2018, based on a technological value creation roadmap for commercial markets, is delivering a range of benefits. The Group, which has secured the vast majority of its purchases in 2021, is maintaining its vigilance concerning tensions on the components market and developments with the health context. Parrot is continuing to capitalize on its capacity for innovation, its product quality, and its constant focus on managing its operations and allocating its resources effectively.
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