The Parrot group, a European leader for professional micro-UAVs, generated consolidated revenues of €27.9m (+52% at current exchange rates and +61% at constant exchange rates). This strong progress reflects the acceleration of Professional micro-UAV sales, with revenues doubling year-on-year to €21.3m, supported by the ramp-up of the ANAFI UKR and the increase in deliveries to international institutional clients. As expected, the Critical infrastructure solutions business[1] is continuing to move forward with its transition to a subscription model, which is temporarily weighing on the revenues recorded, while strengthening the recurrence of revenues over the medium term. In this context, despite the scale up of its industrial organization and increasing lead times for certain components, the Group was slightly profitable in the first quarter of 2026 and did not consume cash.

Professional micro-UAV business

Revenues from the Professional micro-UAV business doubled in the first quarter of 2026 to €21.3m, compared with €10.5m for the first quarter of 2025. The business reached a new quarterly high, driven by the ramp-up of the ANAFI UKR, the new tenders won and the rapid conversion of these contracts into deliveries.

In a context marked by the growing role of drones in defense, security and civil protection operations, the ANAFI UKR meets the requirements of ISR - Intelligence, Surveillance and Reconnaissance - missions by combining compactness, autonomy, cybersecurity, degraded environment navigation and rapid deployment capabilities. Commercial momentum confirms the broadening of the addressable customer base, the diversity of operational use cases, and ANAFI UKR's ability to integrate into more structured acquisition and deployment frameworks, whether for field equipment, national programs or embedded configurations. Sales remain diversified and international, with orders from institutional customers in Europe, North America and Australia.

The quarter's growth was built around both new deployments and the extension of use cases with existing clients who are already equipped and continuing to renew or expand their fleets and programs. It also benefited from the ANAFI UKR's high qualification levels and its integration into structured procurement channels, notably through the US led BLUE UAS approval program as well as the integration into the NSPA (NATO Support and Procurement Agency) catalogue, in line with the requirements of defense and institutional customers in Europe, the United States, and internationally.

Critical infrastructure solutions

The Critical infrastructure solutions business (PIX4D) recorded €6.6m of revenues in the first quarter of 2026, compared with €7.9m for the first quarter of 2025, down -16% at current exchange rates and -10% at constant exchange rates. This change primarily reflects the continued transition to a subscription-based business model, which mechanically reduces the revenues recognized in the short term compared with perpetual license sales, while further strengthening the share of recurring revenues.

The underlying commercial indicators are continuing to trend up, with the progress seen for new solutions, the development of advanced mobile modeling applications and the increase in direct sales to key accounts and institutions around the world.

Outlook

For the second quarter of 2026, Parrot expects a further increase in business compared with the second quarter of 2025, paving the way for significant growth over the first half of 2026. The Group is paying particular attention to its ability to secure certain essential components amid longer lead times for supplies.

The increase in orders and in the number of tenders confirm the change of scale on the Defense and Public safety markets addressed by the Group, engaged in an industrial and operational ramp-up phase. The focus is on production capacity, securing supplies and sourcing critical components. The Group has the financial resources required to support this stage, while continuing to invest in developing its offering.

In Critical Infrastructure Solutions, the Group is continuing to consolidate its model around subscriptions, new solutions and the growing integration of its technologies into professional use cases. In 2026, the gradual phase-out of perpetual license sales in favor of subscriptions will weigh on the business' revenues. This transition will increase the recurrence of revenues in the following years, while improving the business' profitability profile.

Next financial date:

• General meeting: Wednesday June 3, 2026 at 9am CET
• 2026 first-half earnings: Friday July 31, 2026 (after market close).

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 Professional micro-UAVs and Critical infrastructure software solutions, 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 micro-UAV 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.

The Critical Infrastructure Solutions activity, led by PIX4D, helps operators and owners improve inspection speed, safety, documentation, and decision-making by turning hard-to-access assets into accurate, shareable 3D models in a secure data environment.

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 450 people and generates most of its revenue, €80 million in 2025, internationally. With subsidiaries in Switzerland, the United States, South Korea, 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] The activity previously referred to as “Photogrammetry” is now presented under the heading “Critical Infrastructure Solutions”, in order to better reflect the evolution of PIX4D's offering towards mapping, 3D modeling, inspection, geospatial analysis and digital twins. “Critical infrastructure” refers here to the infrastructure, assets, networks or sites whose monitoring and proper functioning contribute to the continuity of services that are critical or essential to the economy, security, the environment or community life.