Cyberhawk, a leader in drone-based inspection, surveying services, and visual data management, has announced a significant 55% revenue growth for the fiscal year 2024, ending on March 31. The company reported total revenues of $28.7 million, attributing this success to strong performance across key regions, including the U.S., U.K., and the Middle East.
Cyberhawk’s growth has been bolstered by its diversified product offerings and an innovative approach that has resonated with major players in the energy, utility, and construction sectors. The company’s flagship software, iHawk™, has seen a substantial increase in adoption, with the number of unique licenses more than doubling over the past year. This surge in demand for iHawk™ contributed to a 100% increase in software revenues.
"We are immensely proud of our fiscal year 2024 achievements," said Chris Fleming, CEO 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."
Cyberhawk's strategic expansion has been key to its recent success. The company has strengthened its U.S. commercial and field operations teams, expanded its software development capabilities in the U.K., and scaled operations in the Middle East. This expansion reflects Cyberhawk’s commitment to providing comprehensive solutions tailored to the needs of its global customer base.
"This is another outstanding year of financial performance that creates a foundation on which we can continue to build," stated John Comiskey, Cyberhawk’s CFO. "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."
Looking ahead, Cyberhawk plans to further enhance its offerings with the introduction of new products and services. Among these is the AVIATE by Cyberhawk program, which is designed to support customers in establishing or advancing their UAS (Unmanned Aerial Systems) programs. Additionally, the company plans to introduce technical enhancements to its Visualive™ software, aimed at improving visual data management for inspections.
Cyberhawk's continued growth highlights the increasing demand for advanced drone-based inspection services and sophisticated data management solutions across critical industries.
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