Cyberlux Corporation (OTC: CYBL) Releases Q1 2024 Report of Financial and Operational Results
The Company reports the results for its Unmanned Aircraft Solutions, Datron Military Communications, and Special Activities Business Units
RESEARCH TRIANGLE PARK, N.C. (May 14, 2024) – Cyberlux Corporation (OTC: CYBL), a leading provider of innovative defense technology systems, reported results for the period ended March 31, 2024.
Cyberlux Corporation CEO Mark Schmidt commented on the results: “Q1 2024 was a period where the consolidated company began to gain operational acceleration as we strengthened our longstanding relationships with customers in our military communications business. Our commitment to ongoing tactical radio programs is bearing fruit as we expand our reach into partner nations. In addition, our Unmanned Aircraft Solutions (UAS) business remains a focal point of high interest for the Department of Defense (DoD), presenting exciting opportunities to provide our military and foreign partners alike with state-of-the-art UAS technology and services. We are pursuing opportunities for expansion through acquisitions, organic growth initiatives, and cultivating new customer relationships and innovative products, all of which are poised to bolster our operational results going forward.”
Financial highlights for Q1 2024:
- Continued expansion across three key business sectors: UAS, Datron, and Special Activities marked by the generation of new orders and firm commitments, including the following: a. $5.8M of bookings with customers in Africa b. $2.7M of bookings with customers in the Middle East c. $1.3M of bookings with customers in Asia.
- Drone product included in the announcement of the new $61B appropriations for Ukraine; H.R.8035: Ukraine Security Supplemental Appropriations Act, 2024.
- Special Activities business unit secured significant global security assistance opportunities with Ukraine, Indo-Pacific Command (INDOPACOM), and U.S. Southern Command (SOUTHCOM).
- Obtained commercial credit line, providing up to $3 million of financing subject to specific purchase orders from government customers.
- Continued institutionalization of the Company as it prepares for future public market activities.
In 2023, the Company embarked on a transformative journey, strategically realigning its focus, divesting certain businesses, and making the key acquisition of Datron World Communications, all while securing a significant sales order from the Department of Defense. Our financials as of March 31, 2024, reflect a cash flow imbalance as a result of costs required to deliver on a growing pipeline of global foreign military sales contracts. As planned, we expect revenue in future quarters, including the next quarter, to return the Company to operational efficiency. Management is highly optimistic about the trajectory of our business in 2024 and beyond, foreseeing sustained growth and profitability.
For more information, please read the full Q1 2024 Report: https://www.otcmarkets.com/otcapi/company/financial-report/402333/content
About Cyberlux Corporation
Founded in 2000, Cyberlux Corporation (OTC Bulletin Board: CYBL) is a Defense Industry technology solutions company comprised of three primary business units: Unmanned Aircraft Solutions (UAS), Datron Military Communications (DMC), and Special Activities (SA).
Unmanned Aircraft Solutions Business
Unit Cyberlux Unmanned Aircraft Solutions (UAS) is an innovative leader in advanced Group 1, Group 2, and Group 3 ‘vertical takeoff and landing’ (VTOL) drones and fixed wing technology development, manufacturing, and sales. The business unit designs, manufactures, and distributes its products and airframe systems to leading ‘first person viewing’ (FPV) and military UAS pilots on a global basis, with sales to both U.S. government agencies and allied nations through U.S foreign military sales (FMS). Cyberlux UAS offers its customers best-in-class products and comprehensive services to satisfy the requirements of the global UAS military sector. The Cyberlux UAS team is widely recognized as the authority in the industry, offering high performance products with high quality components and superior capability, in support of warfighters worldwide.
Datron Military Communications Business Unit
Datron World Communications (Datron), a subsidiary of Cyberlux, is a global leader in voice and data radio communications, serving government, military, and industrial clients in over 100 countries. Renowned for its high-performance products and comprehensive services, Datron is recognized as the industry’s top-value provider, offering reliable equipment and tailored solutions to meet specific mission needs. Datron has expanded its manufacturing capabilities, producing critical components for UAS drone lines, and providing support for Cyberlux Advanced Lighting Solutions, thereby enhancing supply chain efficiency and product reliability
Special Activities Business Unit
The Special Activities (SA) unit within Cyberlux is the Company’s operational action organization, specializing in various aspects of warfare and providing ground-level support across all business verticals. With expertise in military training, UAS operations, munitions, technology integration, and more, SA offers comprehensive solutions tailored to each client’s needs. Its team comprises top-tier professionals, including retired Special Operations personnel and skilled UAS Pilots, enabling SA to deliver scalable solutions and meet diverse mission requirements with unparalleled professionalism. SA plays a pivotal role in engaging both foreign and domestic clients, gathering crucial feedback, and driving Cyberlux’s research and development efforts.
For more information, please visit www.cyberlux.com. For investor information, please contact: ir_cybl@cyberlux.com.
SAFE HARBOR STATEMENT
This Press Release may contain forward-looking statements that can be identified by terminology such as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s OTC/SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.
For media inquiries, please contact: ir_cybl@Cyberlux.com | T: (984) 363-6894