This week Parrot’s quarterly earnings call played host to an interesting tidbit of information: they’re splitting their company. Not in a super major way – they’re just creating a subsidiary. But a subsidiary that’s dedicated entirely to drones. Instead of keeping Parrot a company that’s all about car accessories and drones, they’ve decided to dedicate their main, original company to their original goals, while their subsidiary concentrates on the drones bit.
Parrot reported that in the second quarter of 2015, their Drone-specific revenues came to 30.4 million euros. That’s up from 10.5 million euros the same quarter one year ago. That’s 44% of their entire Group revenues this quarter compared to just 18.1% of their entire Group revenues this same quarter last year.
Of this, Retail Drones generated 75% of Drone revenues while Commercial Drones generated 25% of Drone revenues. So they’re going to go ahead and roll out with both of the two aims through the future. Parrot will be pushing forward with their explosive growth in Commercial Drones with a 50 million euro syndicated credit line as of July 24th, 2015.
Parrot will “subsidiarize its Drone activities (retail and commercial), which will result in the creation of a pure player for drones, a fully-owned subsidiary of Parrot SA.”
You can learn more about Parrot’s most recent report through their ParrotCorp report.