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ParaZero Technologies | 20-F: FY2024 Annual Report

SEC ·  Mar 21 20:16

Summary by Moomoo AI

ParaZero Technologies reported full year 2024 revenue of $932,154, up 50.2% from $620,508 in 2023, driven by increased OEM integration sales. Gross profit declined to $58,293 from $143,898 due to higher costs and inventory write-offs of $114,680.Operating expenses increased significantly as the company scaled operations, with R&D expenses rising 237% to $2.1 million and sales and marketing costs up 121.6% to $1.1 million. General and administrative expenses grew 62.9% to $2.4 million due to public company costs. Net loss widened to $11.1 million from $3.8 million, primarily due to a $5.7 million non-cash charge from changes in warrant liabilities.The company ended 2024 with $4.2 million in cash and subsequently raised $3.1 million in February 2025 through a registered direct offering. Management expects current funding to support operations through Q1 2026. The company continues expanding its commercial drone safety systems and defense solutions while developing new precision airdrop and counter-drone technologies.
ParaZero Technologies reported full year 2024 revenue of $932,154, up 50.2% from $620,508 in 2023, driven by increased OEM integration sales. Gross profit declined to $58,293 from $143,898 due to higher costs and inventory write-offs of $114,680.Operating expenses increased significantly as the company scaled operations, with R&D expenses rising 237% to $2.1 million and sales and marketing costs up 121.6% to $1.1 million. General and administrative expenses grew 62.9% to $2.4 million due to public company costs. Net loss widened to $11.1 million from $3.8 million, primarily due to a $5.7 million non-cash charge from changes in warrant liabilities.The company ended 2024 with $4.2 million in cash and subsequently raised $3.1 million in February 2025 through a registered direct offering. Management expects current funding to support operations through Q1 2026. The company continues expanding its commercial drone safety systems and defense solutions while developing new precision airdrop and counter-drone technologies.
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