2023 An inflection point of growth
The Company continued to enjoy YoY growth in revenues from US$823K in 2022 to US$1,541K in 2023, a growth of 87%.
Gross margin remained the same in 2023 at 53%. Recurring revenue increased in 2023 by 463% at US$411K versus US$73K in
2022.
This acceleration is due to Elsight’s proprietary data communication and cloud services as more Halos are being deployed
with new and existing customers. Market growth is also boosted by the Halo’s scalability, enabling more drones to fly
concurrently by one operator and reducing the dependency on personnel. The number of new customers acquired in 2023
(51) for a grand total of 115 Design Wins.
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- good update and well written .. very clear picture ...we have started
good update and well written .. very clear picture ...we have started
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