Autonodyne Software program on Golden Eagle Platform Will increase Purple Cat Margins Dramatically
Purple Cat Holdings, Inc. (Nasdaq: RCAT)(“Purple Cat” or the “Firm), a hardware-enabled software program supplier to the drone business, proclaims at this time a licensing settlement with Autonodyne, LLC. that may allow Purple Cat subsidiary Teal Drones, Inc. to ship its drone for presidency and navy segments – the Golden Eagle – with unique autonomous capabilities in late 2022.
Combining Teal’s drones and Autonodyne expertise positions Purple Cat as a frontrunner in multi-vehicle and autonomous drone operation. Teal’s Golden Eagle drone with Autonodyne software program has already efficiently demonstrated drone “swarms” and supplies options like “limitless surveillance” that seamlessly rotates a number of drones over a single focal point for twenty-four/7 protection.
Below the phrases of the license, Teal has secured unique proper to Autonodyne’s software program suite for “autonomy and change of management amongst people and machines to carry out duties involving crewed and/or uncrewed automobiles.” Autonodyne has agreed to solely present its software program to Teal’s present and potential clients for single automobiles, multi-vehicles, and linked multi-vehicles, whether or not current or deliberate sooner or later, and consists of Autonodyne’s patents and unpatented expertise.
Purple Cat CEO Jeff Thompson stated, “Teal’s merchandise have repeatedly confirmed in testing that they’ll deal with troublesome mission-specific assignments with ease and provide autonomous capabilities which might be superior to different drones. Autonodyne is the primary of a number of improvement companions we plan to combine and check with for potential purposes within the authorities and navy segments served by our Teal division. Below the phrases of the settlement, Autonodyne software program will solely be made out there to Teal, successfully leaping Teal forward of different drone firms in search of to supply multi-vehicle management or capabilities like limitless surveillance. Opponents should develop their very own software program or safe licenses from others with inferior check efficiency.
“Including Autonodyne software program to the Golden Eagle is as important to our Firm’s monetary success as it’s to our clients’ mission success. At 42%, the gross margin on the Golden Eagle is actually good, however including Autonodyne software program to the Golden Eagle will increase our gross margin to over 60%,” concluded Thompson.
George Matus, founding father of Teal, stated, “Purple Cat has quick potential to be a frontrunner on this business’s authorities and navy segments. Golden Eagle was chosen as considered one of solely a handful of drones licensed for U.S. Authorities procurement and it’s repeatedly being improved, with a brand new model to be introduced quickly. Our hardware-enabled software program method permits us to satisfy or exceed the safety and efficiency necessities for navy operation, border management, public security, and extra. As proven by current worldwide occasions, small drones irrefutably make a significant distinction in front-line outcomes. With fleet stage operation at just some thousand {dollars} per mission versus tens of millions for bigger scale tools, the attraction of our merchandise is evident.”
About Purple Cat Holdings, Inc.
Purple Cat supplies drone-based merchandise, providers, and options via its 5 subsidiaries and providers the enterprise, navy and client markets. Teal Drones is a frontrunner in unmanned plane programs (UAS), and its Golden Eagle is considered one of solely 5 drones permitted by the Division of Protection for reconnaissance, public security and inspection purposes. Skypersonic’s expertise allows drones to finish inspection providers in areas the place GPS just isn’t out there, but nonetheless file and transmit knowledge even whereas being operated from hundreds of miles away. Fats Shark is a number one supplier of First Particular person View (FPV) video goggles. Rotor Riot, LLC is a reseller of FPV drones and tools, primarily to the patron market. Study extra at www.redcatholdings.com.