Cyberhawk Achieves 55 Percent Revenue Growth in FY 2024
Strong Performance Driven by Regional Expansion and Product Innovation
Strong Performance Driven by Regional Expansion and Product InnovationCyberhawk™, a leader in drone inspection services and visual data management, announced a 55 percent revenue growth for fiscal year 2024, ending March 31. The company’s total revenue reached $28.7 million.
Regional Growth and Diverse Product Offerings
Cyberhawk’s growth spanned key regions, including the U.K., U.S., and the Middle East. Their innovative solutions and diverse products appealed strongly to these markets, leading to sustained revenue growth from both new and existing customers. The company more than doubled unique licenses for its flagship software, iHawk™, highlighting the rising demand for advanced visual data management.
“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.”
Strategic Expansion and Customer-Centric Focus
To support this growth, Cyberhawk expanded its U.S. commercial and field operations teams, increased software development capacity in the U.K., and scaled operations in the Middle East. These expansions are part of Cyberhawk’s commitment to providing comprehensive solutions tailored to customer needs. This approach ensures the delivery of quality information that enables quick 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 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
In the coming months, Cyberhawk plans to launch new products and services. This includes the AVIATE by Cyberhawk (Accelerated Visual Integration and Technology Enabler) program, which helps customers establish or enhance their UAS programs remotely. Additionally, they will introduce technical enhancements to their visual data management software, Visualive™, for improved inspections.
Founded in 2008, Cyberhawk was a pioneer in the industry. The company conducts hundreds of thousands of inspections and surveys annually and has achieved over 35 world firsts. Cyberhawk’s growth reflects the increasing acceptance of drone inspections as standard practice, signaling that the drone industry is beginning to achieve long-anticipated scale.