Next Vision More Than Doubles Revenue and Profit, Raises 2026 Revenue Target Again

Next Vision, a company specializing in stabilized cameras for drones and unmanned systems, reported a significant surge in demand, more than doubling its revenue in the second quarter of 2026 compared to the same period in 2025. Led by Chairman Chen Golan and CEO Michael Grossman, the company’s revenue jumped 138% to $88.2 million. Operating profit rose to $51.8 million from $23 million the previous year, while net profit increased by 125% to $53.6 million.

Despite strong sales growth, the gross profit margin declined to 65.2% from 71.6% due to discounts for large-volume customers, rising raw material costs, and higher labor expenses linked to expanded production lines. The increased demand is attributed to the heightened security environment since the outbreak of the Iron Swords war in October 2023, as well as the conflict in Ukraine and increased defense budgets globally, which have accelerated the use of surveillance drones, UAVs, and loitering munitions incorporating Next Vision’s camera systems.

The company noted a temporary disruption in shipments and supply deliveries during the conflict with Iran, but operations have since normalized without significant impact on results or order fulfillment. Growth is driven largely by existing major customers rather than an increase in the number of clients; the company served 150 customers in the first half of 2026 compared to 154 in the same period last year, while revenue surged 112% to $155.5 million. At the end of June, the order backlog stood at $265.2 million, with the top three customers accounting for 65.9% of first-half revenue.

Europe remains Next Vision’s largest market with $90.4 million in revenue, followed by North America at $42.4 million. Reflecting the strong momentum, the company raised its full-year 2026 revenue guidance to $355 million, up from $315 million and the initial $275 million target set in January. This new target represents a 112% increase over 2025 and is 29% higher than the original forecast. Next Vision also stated that U.S. tariffs imposed on exports have so far had minimal impact on its results and expects any future effects to remain limited.