December 5, 2022
The company, which develops stabilized cameras for drones, received an order for 3.6 million dollars. Co-founder of the company to Techtime: “Surprisingly, the leading indicator is actually Europe”
The company Next Vision (Next Vision), which develops stabilized cameras for drones, reported today (Monday) to the Tel Aviv Stock Exchange that it had received a significant order for the purchase of the company’s cameras and aids in the amount of 3.6 million dollars, to be paid during 2023.
The order continues the positive business momentum that was reflected in the company’s financial report for the third quarter, in which it reported revenues of $6.58 million, a 93% increase compared to the corresponding quarter in 2021.
The increase in sales 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.
In a conversation with Techtime, the company’s chairman and co-founder, Chen Golan, explained: “The more we expand our activity, the more the weight of the external markets will increase. Surprisingly, the leading indicator in this period is actually Europe. The war in Ukraine aroused the governments in Europe and led to an increase in the defense budgets, in order to prepare for the new threats. Even in India we recognize an awakening and a jump in inquiries and interest in our solutions. However, the American security market is the largest, and several times, than any other market, and I predict that in the future it will be our main market. Israel is considered a powerhouse in the field of drones, and the world is watching what is happening here. Our systems have passed operational maturity here.”
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.
Golan: “The focus in the world of satellites is shifting from the tools the large and medium to the smaller vessels, which are the drones. Drones have become very reliable tools and the cameras have also become much better. The drone becomes a tactical tool. A soldier in the field no longer needs to order a drone from headquarters – he takes the drone out of his bag, lifts it into the air and uses it to obtain intelligence and targets. Today there is also the developing world of ‘suicide’ drones.”
Published in the categories: news, drones, aviation and security
Posted in tags: Chen Golan, Next Vision
