Cyberhawk Announces Record-Breaking 55 Percent Revenue Growth in FY 2024

Edinburgh, Scotland and DENVER – August 7, 2024 – Cyberhawk™, a global leader in drone-based inspection and surveying services and visual data management software, is pleased to announce a 55 percent revenue growth for the fiscal year 2024, ending March 31st, with total revenue reaching 28.7 million.

Cyberhawk solutions are trusted by global energy, utility, and construction companies, providing unparalleled safety, efficiency, and accuracy in asset management and infrastructure inspections and surveys, as well as providing best-in-class data management and visualization services.

Regional Growth and Diverse Product Offering

Cyberhawk's growth has been driven by significant advancements in all key regions, including the U.K.,U.S., and the Middle East. The company's innovative approach and diverse product portfolio have resonated strongly in these regions, resulting in sustained revenue growth with new and existing customers. Additionally, Cyberhawk has more than doubled the number of unique licenses of its flagship software, iHawk™, underscoring the increasing demand for cutting-edge visual data management solutions.

"We are immensely proud of our fiscal year 2024 achievements," said Chris Fleming, Chief Executive Officer of Cyberhawk. "We've experienced substantial growth globally, with notable success in the U.S. The adoption of our iHawk platform has driven software revenues up by over 100 percent. We collaborate with the world's largest energy, asset management, and construction companies, offering innovative, faster, and safer data visual management solutions that deliver significant ROI in both savings and safety."

Strategic Expansion and Customer-Centric Focus

To support this growth, Cyberhawk has expanded its U.S.-based commercial and field operations teams, increased software developer depth in the U.K., and scaled its operations in the Middle East. These strategic expansions are part of Cyberhawk's commitment to providing end-to-end solutions to meet the specific needs of its customers. By adopting a holistic approach to understanding customer requirements, Cyberhawk ensures the delivery of quality information that enables fast and effective decision-making.

"This is another outstanding year of financial performance that creates a foundation on which we can continue to build," stated John Comiskey, Cyberhawk's Chief Financial Officer. "In line with our strategic aim to provide full-service solutions for our customers, we grew both our drone inspection and associated software services by 48 percent and 106 percent, respectively."

Over the next several months, Cyberhawk has plans to introduce new products and services, including its AVIATE by Cyberhawk (Accelerated Visual Integration and Technology Enabler) program, which remotely assists customers in establishing or progressing their UAS programs and technical enhancements to their visual data management software for inspections through Visualive™.

For more information about Cyberhawk's innovative services, please visit thecyberhawk.com or on LinkedIn.