Next Vision Reports 130% Net Profit Surge, Raises 2024 Revenue Forecast Again

Next Vision, a manufacturer of stabilized cameras for drones led by Chen Golan, reported a 138% increase in revenue for the second quarter, reaching approximately $88.2 million. This growth was driven by higher sales volumes and an expanding customer base. The company highlighted its ability to simultaneously grow across multiple markets while increasing production capacity and deepening engagement with its global client base.

Net profit for the quarter rose by 130% to about $53.6 million. Currently, over 300 Western aircraft manufacturers use Next Vision’s products, with 150 active customers during the first half of the year. Europe and North America remain the primary demand drivers, alongside ongoing expansion into additional markets.

Operating profit reached $51.8 million, up from $23 million in the same quarter last year, reflecting an operating margin of 58.8%. The company attributes its high operational profitability to efficient cost management and economies of scale. Next Vision also announced it is raising its full-year revenue target to $355 million, marking the second upward revision this year and representing a 111% increase compared to 2023.

The company’s gross profit margin stands at 65.2%, unusually high for a manufacturing firm and comparable to pure software companies. Next Vision maintains a cash flow of approximately $43.8 million while continuing to invest in inventory and production infrastructure to support future growth.