Orbital UAV released its financial year 2021 half-year financial results on 25 February, reporting consolidated revenue for the six-month period increased by 67% to $19M (2019: $11.4M). Operational profit improved to $0.6M (2019: Loss of $1.9M).
Orbital UAV’s Managing Director and CEO, Mr Todd Alder, was pleased with the half-year financial results.
“We continue to expand our product offering and deliver on our customers’ requirements for globally leading spark ignited, heavy fuel propulsion systems for tactical UAVs.
“Our position as primary UAV engine supplier to Boeing-Insitu, as well as the additional engine development partnerships and programs we continue to secure, provide an exciting pathway for continued improvement in our financial results,” he said.
Listen to the Company’s investor conference call and webcast below: