Cyberhawk, a drone inspection and surveying services company, has announced a remarkable 55% revenue growth for the fiscal year 2024. The company’s total revenue soared to $28.7 million, driven by strong performances in key regions such as the United Kingdom, the United States, and the Middle East.
Cyberhawk is known for its drone-based solutions that enhance safety, efficiency, and accuracy in asset management and infrastructure inspections. Their flagship software, iHawk, has seen more than double the number of licenses, highlighting the increasing demand for advanced visual data management.
CEO Chris Fleming expressed pride in the company’s achievements, noting that the US market showed extraordinary success. He credited the 100% increase in software revenues to the adoption of the iHawk platform, emphasizing Cyberhawk’s collaboration with major energy, asset management, and construction companies to provide faster and safer data visualization solutions.
To support its growth, Cyberhawk has expanded its US commercial and field operations teams, increased its software developer team in the UK, and scaled operations in the Middle East. These strategic moves reflect Cyberhawk’s commitment to delivering end-to-end solutions tailored to customer needs, ensuring rapid and informed decision-making.
CFO John Comiskey highlighted the outstanding financial performance as a foundation for future growth. The company saw a 48% increase in drone inspection services and a 106% increase in associated software services. This aligns with Cyberhawk’s strategy to offer comprehensive solutions to its customers.
Looking ahead, Cyberhawk plans to launch new products and services, including the AVIATE by Cyberhawk program, which assists customers in enhancing their drone programs. Additionally, they aim to introduce technical upgrades to their visual data management software, Visualive, further solidifying their market position.
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