Elsight to expand ‘Halo’ coverage for leading US drone company
Global leader in AI-powered drone connectivity Elsight has got more tailwinds from a repeat order for its ‘Halo’ technology from Censys Technologies Corporation, a major US drone manufacturer and services provider.
The order supports Elsight’s (ASX:ELS) focus on growing recurring revenue as it consists of both upfront hardware revenue and ongoing Elsight cloud services (‘AllSIght’) payments.
It also validates Elsight’s Design-Win strategy that promotes organic growth within the emerging drone industry. This strategy involves integrating ‘Halo’ with drone manufacturers’ products at an early stage and Elsight is well placed to grow organically alongside the rapidly expanding drone sector, with minimal further sales effort and cost.
Censys is an ideal partner for Elsight and its BVLOS expertise as it is a leading provider of remote drone solutions for environmental services, infrastructure monitoring and inspection, disaster relief and public safety. Florida-based Censys supplies both private and government organisations across the US.
Elsight CEO Yoav Amitai said:
“This order from Censys confirms the compelling and persistent value of ‘Halo’ as the ultimate connectivity solution for Beyond Visual Line Of Sight (‘BVLOS’) drone operations.
“We are delighted to continue this close partnership with Censys as they use the ‘Halo’ to provide their customers with an improved range of services.
“This repeat order required minimal to no intervention from our sales team, which validates our ‘DesignWin’ strategy and its enormous power as a growth engine for the Company.
“Elsight today has a substantial share of the drone market, and I firmly believe that we are perfectly positioned to grow with our DesignWin partners as the industry continues to evolve and achieve broader commercial adoption.
“The flexibility inherent in the industry-agnostic ‘Halo’ means the various use cases being fielded by Censys will all be supported. We look forward to seeing Censys continuing to expand, building a long-term positive relationship between the companies”.
Elsight currently has more than 90 Design-Win partners globally at various stages of development, from the testing phase to implementation and service launch.
The Censys order closely follows Elsight’s competitive tender process win with the Israeli police and other departments under Israel’s Ministry of National Security.
The company additionally has high-profile clients across US, Europe, South American, the Middle East and Asia. These include delivery service provider DroneUp, used by US retail giant Walmart, Brazil’s SpeedBird Aero and Spright, the drone division of US medical services company Air Methods.
This article was developed in collaboration with Elsight, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.