Elsight Ltd. (AU:ELS) has released an update.
Elsight Ltd. sees a significant surge in Q1 2024 with a 135% increase in sales revenue over the same quarter in the previous year, amounting to $621K USD, driven by its expanding footprint in the global defense and HLS markets. The company has also achieved a considerable cost reduction, slashing its quarterly burn rate by 57% from the previous quarter. Notably, Elsight highlights partnerships with key industry players such as DroneUp, Speedbird Aero, and Censys Technologies, signaling strong market adoption and recurring business from 47 defense and HLS sector customers.
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