Executive Summary
Parrot SA delivered a strong Q4 2024, highlighted by a €47.461 million revenue line, representing a YoY increase of 41.98% and a QoQ surge of 100%, underscoring accelerating demand across its hardware and software platforms. Gross profit stood at €32.567 million for a gross margin of 68.6%, with EBITDA of €6.571 million and operating income of €1.664 million, culminating in net income of €0.825 million and basic EPS of €0.0268. The quarter generated €11.836 million of operating cash flow and €10.63 million of free cash flow, contributing to a net cash position of €24.871 million (cash at period end €33.604 million versus total debt €8.733 million). These results reflect Parrot’s ability to monetize its drone ecosystem while maintaining a disciplined investment stance in R&D and software platforms such as Pix4D. The balance sheet remains liquid with a current ratio of 2.86 and a debt-to-equity ratio of 0.186, aided by a substantial net cash position that provides strategic optionality.
Key Performance Indicators
QoQ: 100.00% | YoY:41.98%
QoQ: 100.00% | YoY:42.63%
QoQ: 28.79% | YoY:119.31%
QoQ: 100.24% | YoY:108.27%
QoQ: 100.00% | YoY:108.12%
Key Insights
Revenue: €47.461m (YoY +41.98%, QoQ +100.00%). Gross Profit: €32.567m; Gross Margin: 68.6%. Operating Income: €1.664m; Operating Margin: 3.51%. EBITDA: €6.571m; EBITDA Margin: 13.85%. Net Income: €0.825m; Net Margin: 1.74%. Earnings per Share (EPS): €0.0268; Diluted EPS: €0.0268 (YoY EPS +108.12%). Cash Flow: Operating Cash Flow €11.836m; Capital Expenditures €1.206m; Free Cash Flow €10.63m. Balance Sheet: Cash & Equivalents €33.604m; Total Debt €8.733m; Net Debt (Cas...
Financial Highlights
Revenue: €47.461m (YoY +41.98%, QoQ +100.00%). Gross Profit: €32.567m; Gross Margin: 68.6%. Operating Income: €1.664m; Operating Margin: 3.51%. EBITDA: €6.571m; EBITDA Margin: 13.85%. Net Income: €0.825m; Net Margin: 1.74%. Earnings per Share (EPS): €0.0268; Diluted EPS: €0.0268 (YoY EPS +108.12%). Cash Flow: Operating Cash Flow €11.836m; Capital Expenditures €1.206m; Free Cash Flow €10.63m. Balance Sheet: Cash & Equivalents €33.604m; Total Debt €8.733m; Net Debt (Cash) €-24.871m; Total Assets €85.41m; Total Equity €46.946m. Liquidity and efficiency: Current Ratio 2.86; DSO 32.31 days; Days Inventory Outstanding 63.45 days; Cash Conversion Cycle 50.30 days. Valuation/Multiples: P/E 27.26; Price-to-Book 1.92; Price-to-Sales 1.90; EV/EBITDA 9.91; Free Cash Flow per Share €0.346; Cash per Share €1.094.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
47.46M |
41.98% |
100.00% |
| Gross Profit |
32.57M |
42.63% |
100.00% |
| Operating Income |
1.66M |
119.31% |
28.79% |
| Net Income |
825.00K |
108.27% |
100.24% |
| EPS |
0.03 |
108.12% |
100.00% |
Key Financial Ratios
operatingProfitMargin
3.51%
operatingCashFlowPerShare
$0.39
freeCashFlowPerShare
$0.35
Management Commentary
Note: No earnings call transcript was provided in the underlying data. As a result, there are no management quotes or call-specific guidance to extract. The analysis below relies on the disclosed quarterly results.
Forward Guidance
No explicit numeric guidance was provided for FY2025 in the QQ4 2024 release. Given the mix of drone hardware and software (notably Pix4D) and continued R&D intensity, the base case assumes continued revenue growth within low-to-mid single digits to mid-teens, supported by expanding enterprise deployments and geographies. Key factors to monitor include: (1) cadence of hardware orders for commercial/drones across agriculture, surveying, and inspection; (2) growth in Pix4D and associated cloud/SaaS revenue; (3) gross margin trajectory as product mix evolves and scale effects accrue; (4) macro sensitivity to supply chain and FX movements; (5) regulatory developments impacting drone adoption in key markets.