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ParaZero Announces Preliminary Unaudited Results for the Year Ended December 31, 2024
Tel Aviv, Israel, Feb. 11, 2025 (GLOBE NEWSWIRE) -- ParaZero Technologies Ltd. (Nasdaq: PRZO) (the "Company or “ParaZero”), an aerospace company focused on
About this update from Parazero Technologies Ltd.
[{"type":"text","content":"Tel Aviv, Israel, Feb. 11, 2025 (GLOBE NEWSWIRE) -- ParaZero Technologies Ltd. (Nasdaq: PRZO) (the \"Company or “ParaZero”), an aerospace company focused on safety systems for commercial unmanned aircrafts and defense Counter UAS systems, today announces preliminary unaudited results for the year ended December 31, 2024. The Company’s revenues for the year ended December 31, 2024 are expected to increase by approximately 45% and are expected to amount to approximately $900,000, compared to revenues of approximately $620,000 in the year ended December 31, 2023. As of December 31, 2024, the Company had cash and cash equivalents of approximately $4.2 million, compared to approximately $7.4 million on December 31, 2023. This unaudited preliminary and partial financial information regarding revenues for the year ended December 31, 2024, is based upon the Company’s estimates and is subject to completion of its year-end financial results. Moreover, this financial information has been prepared solely on the basis of currently available information. The Company’s independent registered public accounting firm has not audited, reviewed or performed any procedures with respect to such preliminary information or the accounting treatment thereof and does not express an opinion or any other form of assurance with respect thereto. This preliminary and partial financial information is not a comprehensive statement of the Company’s financial results for this period. About ParaZero Technologies ParaZero (Nasdaq: PRZO) is a leading developer of autonomous parachute safety systems technologies for commercial and military platforms as well as for urban air mobility (UAM) aircraft. Started in 2014 by a passionate group of aviation professionals and drone industry veterans, ParaZero develops and manufactures smart, autonomous parachute safety systems designed to enable safe flight operations over populated areas and beyond-visual-line-of-sight (BVLOS) as well as for various military applications including Counter UAS. For more information about ParaZero, please visit https://parazero.com/ Forward-looking statements This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimate...