• Strong revenue growth, improved gross margins, and strengthened balance sheet
• Focused strategy on high growth opportunities in counter-drone and space control
• Successful product launches and demonstrations driving order book growth

EOS, the Electro Optic Systems Holdings Ltd, announced its 2024 full year results, highlighting strategic and operational achievements as well as strong financial performance. The company reported revenue growth of 17% to $258.7 million, with improved gross margins of 46%. Underlying EBITDA increased by 128% to $13.0 million, and net profit after tax improved by 42% to a loss of $19.7 million. EOS has repaid all borrowings and ended the period with a strong cash position of approximately $128 million, plus $48 million in cash security deposits. The company's focus on high-growth opportunities in counter-drone and space control has driven successful product launches and demonstrations, laying the foundations for future order book growth. EOS has reviewed its strategic growth opportunities and decided to focus on these high-growth areas, while divesting its non-core naval satcom business, EM Solutions. The company continues to invest in trade shows and demonstrations to position itself in key markets, and is exploring organic and inorganic opportunities to enhance its software and AI capabilities, which are critical for counter-drone solutions. Overall, EOS has delivered a strong operational and financial performance in 2024, setting the stage for future growth.

EOS expects to continue its strong revenue growth and margin improvement in the coming year, with a focus on high-growth opportunities in counter-drone and space control systems. The company is in active discussions with a long-standing Middle Eastern customer for a launch order of its new R500 remote weapon system.

EOS is well-positioned for future growth, with a strengthened balance sheet and a focus on high-growth opportunities in counter-drone and space control. The company is exploring both organic and inorganic opportunities to enhance its software and AI capabilities, which are critical for maintaining its product leadership in these markets. EOS remains confident in its ability to drive order book growth in 2025 and beyond.