Parrot Shares Climb on 178% Surge in Q2 Micro-Drone Revenue

Shares of French drone maker Parrot (EPA:PARRO) jumped on Monday after the company reported robust second-quarter financial results, driven by a dramatic increase in sales of its micro-drones. The stock opened as much as 10% higher before moderating to a gain of about 3% during the trading session.

Soaring Drone Sales Fuel Growth

Parrot announced first-half revenue of €57.3 million ($66.02 million), with the performance heavily weighted toward the second quarter. The company's micro-drone division was the primary growth engine, with revenue climbing an impressive 178% year-over-year in Q2.

This surge was attributed to expanded deliveries of its ANAFI UKR micro-drone. According to the company's report, sales increased across key international markets, including:

• The United States
• Canada
• Australia
• Switzerland, the Netherlands, Finland, and France

Ad

Improved Financial Health and Outlook

Beyond top-line growth, Parrot demonstrated significant progress in its financial stability. The company achieved operating breakeven for the second consecutive half-year period. More notably, cash burn was sharply reduced to €2.2 million, a substantial improvement from the €13.7 million reported in the same period a year earlier.

Analysts also highlighted positive developments in the company's software business. According to a note from Cantor Europe analyst Bharath Nagaraj, the critical infrastructure software unit has returned to growth, bolstered by multi-year contracts in the U.S. energy, UK water, and German fiber infrastructure sectors. Looking ahead, Parrot provided guidance for continued double-digit revenue growth in the third quarter.