November 14, 2022
About two-thirds of the company’s revenues in the third quarter – which amounted to a record 6.59 million dollars – came from customers around the world. “The security events in the world generate a growing interest in photography solutions on ground tools, drones and unmanned aerial vehicles”
The company Next Vision (Next Vision), which develops stabilized cameras for drones and UAVs, reported today (Monday) record revenues of 6.59 million dollars in the third quarter, an impressive growth of about 93% compared to the corresponding quarter in 2021. The increase in revenues was recorded at the same time as an increase of about 50% in the number of the company’s customers.
It seems that the jump in revenue comes mainly from new customers of the company in the international market. If in 2021 about 60% of Next Vision’s revenue came from customers in Israel (Elbit alone was responsible for 30% of sales) – then in the third quarter about two-thirds of the revenue came from customers outside of Israel. Net profit increased by 86% to 2.7 million dollars.
The company’s chairman and co-founder, Chen Golan, attributes the trend to the military escalation in various arenas in the world. “The security events in various parts of the world are generating a growing interest in photography solutions on ground vehicles, drones and unmanned aerial vehicles and we expect an increase in the scope of procurement and equipping of governments and defense bodies.”
Also, the company anticipates that this month will begin the delivery of the first cameras of a new model, based on a cooled detector, which will enable detection capabilities at longer ranges. The company believes that the new camera will be an “equal breaker” in the market of cooled cameras in terms of weight and price.
The Next Vision company was established in 2009 by Chen Golan, Boris Kipnis and CEO Michael Grossman, and is engaged in the development and production of day and night cameras (visible light and thermal photography) stabilized using a gimbal. The cameras are assembled in the company’s factory. They are intended for use in ground and aerial vehicles, such as small and tiny drones, drones and the like. The company has developed a patented stabilization technology based on mechanical stabilization and electronic stabilization that work simultaneously, enabling real-time camera stabilization and correction of distortions resulting from motion capture.
Published in the categories: profit reports, news, aviation and security
Posted in Tags: Next Vision
