2025 THIRD-QUARTER BUSINESS

Parrot is continuing to move forward successfully with its transition to next-generation micro-UAVs in the context of the gradual deployment of new European defense policies

The Parrot Group, a European leader for professional micro-UAVs, recorded €17.0m of consolidated revenues in the third quarter of 2025. For the first nine months, the Group's revenues came to €50.6m, stable at constant exchange rates compared with 2024. The transition to the next-generation ANAFI UKR is accelerating, while European States are coordinating their approaches to gradually strengthen their investments in defense systems, within which drones play a key role. A major multi-year contract has been signed with a new NATO country, and the order pipeline includes a certain number of significant tenders that are at an advanced stage.

Professional micro-UAV business

In the third quarter of 2025, the professional micro-UAV business generated €9.9m of revenues (€10.2m at constant exchange rates), representing 58% of Group revenues, compared with €13.6m for the third quarter of 2024. This change reflects the longer timeframes for decisions within a changing European defense system, as well as the commercial transition phase between two product generations, from the ANAFI USA to the new ANAFI UKR range, which is now at the heart of the Group's Defense & Security offering. For the first nine months of the year, Micro-UAV business revenues are stable at constant exchange rates, driven by sales in Europe, the United States, and Asia Pacific.

Parrot is responding to a growing number of calls for tenders, targeting increasingly high volumes across a more diverse range of contracting authorities. A first significant multi-year tender has been signed with a European country, confirming the technological and operational relevance of the ANAFI UKR range, which is seeing strong sales growth and already represented nearly two thirds of the activity's sales for the first nine months of this year. The rollout of new defense policies is leading to slower decision cycles with contracting authorities, and several major ongoing tenders could be awarded before the end of the year.

Photogrammetry business

The Pix4D business recorded revenues of €7.1m (€7.3m at constant exchange rates), representing 42% of Group revenues, compared with €7.4m for the third quarter of 2024. The transition to a subscription model is continuing to move forward, ensuring stable revenues despite a decrease in perpetual license sales.

Over the first nine months of the year, Photogrammetry revenues remained stable at constant exchange rates. Direct sales, focused on key accounts and institutions in Europe, the United States and Japan, are progressing, while e-commerce sales are stable despite an unfavorable exchange rate effect, masking a slight increase in volumes. The transition from the perpetual license model to a monthly or annual subscription model represents a major step forward, further strengthening sustainable revenue growth and recurrence.

Outlook

Driven by the rapid development of new technologies that are transforming the approaches to defense, security and civil protection, demand for secure, autonomous and sovereign micro-UAVs is expected to enter a cycle of strong growth.

With the launch of the ANAFI UKR and CHUCK 3.0, Parrot offers a technological response for Defense and Security stakeholders, incorporating artificial intelligence, operational agility and cybersecurity. The growing number and increased scale of tenders, in terms of both volumes and the numbers of countries covered, confirm the relevance of the Group's technological sovereignty and innovation strategy. Parrot is positioned to benefit from the relaunch of European defense programs and move into a new phase of growth in 2026[1].

In the photogrammetry segment, the Group is capitalizing on the introduction of Gaussian Splatting for cloud processing and its integration into PIX4Dcatch to accelerate the adoption of its mobile solutions. Pix4D is continuing to move forward with its strategy to expand the addressable market by making its software easier to use on everyday devices (smartphones, tablets), within a SaaS model that is temporarily weighing on reported growth.

The Group is continuing with its efforts to get on track for profitability, limiting its cash consumption. Supported by its main shareholder Horizon and an offering that is effectively aligned with the market's needs, Parrot is looking ahead to the coming period with confidence.

Next financial date: 2025 fourth-quarter business: Friday February 20, 2026.

ABOUT PARROT

Parrot is Europe's leading group in the field of professional micro-UAVs and 3D mapping and modeling solutions. The Group designs, develops and markets a complementary range of high-performance micro-UAVs and photogrammetry software, serving both operational and analytical needs of security forces, industrial and commercial operators as well as public authorities worldwide.

Parrot integrates artificial intelligence at the core of its microdrone systems, enabling advanced capabilities in autonomous flight, detection, tracking, and analysis in complex environments. Its ANAFI range, renowned for its compact design, robustness and ease of deployment, is built to meet the demanding requirements of critical missions in Intelligence, Surveillance and Reconnaissance (ISR), public safety, and technical inspection.

Parrot is also behind Pix4D, a leading suite of software solutions for photogrammetry and geospatial data processing. Designed for professionals in surveying, construction, infrastructure, agriculture, public safety and environmental monitoring, Pix4D enables advanced 2D and 3D modeling, mapping and digital twin generation.

Founded in 1994 by Henri Seydoux, Chairman, CEO and main shareholder, Parrot is headquartered in Paris and develops its products in Europe. Manufacturing is carried out in the United States and South Korea, combining technological sovereignty with industrial agility. The Group employs over 400 people and generates most of its revenue, €78 million in 2024, internationally. With subsidiaries in Switzerland, the United States, South Korea, the United Kingdom, Australia, Japan, Germany and Spain, Parrot serves governments, enterprises and operators in more than 50 countries. Parrot is listed on Euronext Paris (FR0004038263 - PARRO). For more information: www.parrot.com, www.pix4d.com

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([1]) In its press release on August 1, 2025 Parrot had indicated: “Their commercial adoption in the second half of 2025, as the first full period during which these solutions will be available on the market, will represent a decisive milestone in the Group's growth trajectory. However, this momentum will need to be assessed against a high basis for comparison, as the micro-UAV business generated €33m of revenues in the second half of 2024”.