Nightingale Security Drone Profile 2023
They were the first security drone company (we profiled them first in 2015) and now the company is publicly traded but it is still facing significant challenges.
In this report, we profile Nightingale Security based on our interview with co-founder and CEO Jack Wu, including:
- Background
- Employee Changes
- Financials
- Cash Position
- Business Seasonality
- Customers
- Blackbird Drone
- No Drone Operators, BVLOS Waivers
- Base Station
- Contact Charging
- Software
- Integrations
- Ground Robot Integrations
- 2 Purchasing Models, Pricing
- Nightingale Vs. Competitors
- "A Lot Of Momentum Toward BVLOS Operation"
Executive *******
********************** **** *** **** ******** ** 2023 **** ** **** *** ******** that **** **** ** * "********" year, *** ******* ** ********** **** adoption (** ********* ** ** ******** 2022) *** * *** **** *******. However, **** ***** ** ***** ** security ***** ***** ******** *** **** promised ** **** **** *** ***** and ** ** **** *** ** to ** ******* ** *** **** it ******* **** ** **** ****, next ****, ** **** **** ***** in *** ******.
Background
*********** ********** * ***** ******** ******* ******* in **** ***** **** ******** **** ***. *** *******'* ***** ** ********** a "****** ******* ********" *** ******** security, ** ** **** **:
*** ******* ** **** ******. *** have * ****** ******* ********, *** that ** *** ******** ********. ** don't ** ******** ****, , * lot ** ***** ********* **** ** do ***********, *******, ***. *** ********** is **** ** *** **** ** go **** **** * ******** ***********, you **** ** ****** ****** **** platform *** *** ***********.
*** *** ***** ***** *****, *** company *** *******,******* * ***** ** $** *******, ********* ** **********, *** ** Fall ****, *** ******* ****** ****** via ** ***, *** *** ** trades ** *** ********** ***** ******** (more ** ********** ******* ** *** report).
*** ******* ** ***** *** ** Newark, **********.
Marginal ******** *******
************* ** *********(********* * *********) ** ** *** 2023, ***** ** **** *% ****** than *** ***** ***, *** ******** Insights:
**********
*********** ****** * ******** ****** ******* in ******** **** **** ** ******** ****** ~$*.** ******* (** ~*$* million). *** ************* ************** ** ~*$**.** *******, *** *** ********** ***** ********, and *** ***** ** **** **% since ***** ****** **** ****:
*** ******* *** * **% ******** in ******* ** **** ** * total ** ~$*.** ******* ******** ** 100%+ ******** ** ****-****, ***** ** the*******'* ***** *********** **********:
***** *** ******* **** $*+ ******* in ******* **** ****, *************** **** $***,*** ** ******* ** Q1 ********* ****** ***** $*.* ******* ** the **** *********.
Short ** ****
*********** *** $***,*** ** **** ****** left ** *** *** ** ** 2023, ***** ** ************* ******* **** $1.2 ******* ** ******** ** ** 2023, ***** **** *********** ** **** of ******* *** ** **** *** its ******** **********.
** **** **** *** **** *******, the ******* ** ************* *** ******** of *** ********** *** ********* ** receive ************ ** ***** ******* ****** than ****, ** ***** **** ********** **************:
**** ********* **********
** ******** ** ********** ********** *** costs, ** ******** **** *** ******* align ********** *** ********* **** *** business, ***********'* ***, *** *** *** as **** ** *** ***** ********* have ****** ** * **** ** receive ***** ******* ** **** ** a ******* ** ***** ****** **** compensation.
************, *** ******* **** ** **** they **** "*******" *** ***** ********** option (* ***-**** ******** ** ******** and * ************ *** *** ***********, upgrade, ***.), ******* ** **** **** subscription *****.
Account *********** ****** **, ****** *******
***********'* *** **** ** **** *** company *** ******* *********** ****** ** that *** *** **** *** ********* report, ***** **** **** ******* *** business.
*** ******* *** *** ******** *** amount ** ***** ******* ***********, *******, even ** ** ** ********** ** FY22 ******* ** ~$*.** ******* ***, it **** *********** ****** ** *** company *********** **% ******* ******* ** FY22 ($*.** ******* ** ******* **** $1.62 ******* *** *** *******).
Business ***********
**** ** *** ** ******** *** something **** *** ******* *********** ****** due ** ******* *********, *-* ***** sales ******, *** ***-***** ****** **********, as *** *** **** **:
** ** *** ******* ******* *** us. ******** **** **** **** *** holidays *** **** ** **, ******** ramps **. *** *** ********'* ***** cycles *** ********* ***** ** **** months. ** *** ***** ***** ****** are ****. *** **** ***** ****** are **** **** ******* ****** ***'* really **** ** **** ** ***** projects ** ** ******* **** ***'* want ** *** ****** ****. *** also ******* *** *** ** *** year, * *** ** *** ****** has ******* **** *****. ** ** and ** *** *** ******* ********.
Growing ********, **** **** ** * "************" ****
*********** ******* *** **** **** ******** in **** **** ** ****, ** CEO ******* ** **, *******, ** believes **** **** **** ** *** breakthrough **** *** *** *******, *** not ****, ** *** *********** *** some ********* ********** *** ***** ********* the ********:
**'** ******* ****** **** ******** **** last ****
**** *** **, ** *** **** least, ** * ********* ** *** breakout **** ** ****.I ***** **** **** ** *** ******** ****. In 2023 we're already seeing momentum for that breakout. But the momentum is still being hampered by regulations and some of the technology challenges that we have to just wait for the technology to mature and find the right partners to be able to partner ... But the set up with a breakout in terms of the amount of business that we're seeing, and the size of the deals and the shortening of the sales cycle it's already begun. But we believe that's only setting it up. [emphasis added]
*********
********** ********** ********** *** *** **** customers *** *** *******, **** *** government *** ******** ********* ***** *** target *******.
*********** *** ********* ** ***** **** verticals, ********* **********, **********, *** ******** facilities, **** *** ******** ***** **********. As ** ******** ****, *********** *** 17 ********* ** * *********, ****** *******'* ***** ****.
*** ******** ** *** *******'* ******** is **** ** *** **, ** CEO **** ** **** **, *** it **** *** ********* ** ******, the ***** ********, *****, ***** ******, Mexico, ******, *** *********.
*********** ** ***** * **/** ******* of ****** *** ******* *****, *** the *******'* ***.
Blackbird *****
***********'* ******* ** ***** ** *** drone ****** *********, ***** *** ** autonomously *** ******** ********. *** ***** can ******* ********* ********** *******, "****** surveillance ********", ** ***** * ****** can ******** ******** * ***** ** a ******** ******** *** ******* ** their-party ****** (*.*., * ******* *********, perimeter *********, ***.).
** *** * **-****** **** ***** PTZ ****** *** * **-****** **** 320x526 ***** ******* ******, *** **********'* **************. **** **** *** ******** ***** resolution ***** **** ********* ** *** available *********. *** ***** **** *** an ****** *** *** ******* *** human *********.
*** *****'* ******* ****** ** ********, as ** **** **, *******, *********** allows *** ************* *** ******** ************, for *******, * ******** *****:
*** ****** ****** ** [*******], ** don't **** ******* ********. *****, ** goes **** ** ***********. ** ***'* want ** ** **** ****** ***********. But ** ** ************* **** *** customers ******. ... ** **'* * petrochemical ********, **** ***** **** ** add ******* ****** **** *** ***** so **** *** *** *** ****** what **** ** **** **** **** are ************.
*** ******* ********* * **-** *** flight **** (**** * **-** *** charge ****) *** * ***** **** can ** ******** "** **** **** 30 *******", *** *** *******. *** operating ***** *** *** ***** ** 3 ***** ** ***** ************.
*** ******* ********** *** **********, ***********, and ********** ** *** ***** ****, per *** *******, ****** ** ** withstand ********* ***** ** "** ** 45 ***", **** ***** ** "** to *****", *** **** **** (**** though ** ** *** ******* *** FAA ***********).
***********'* ****** **** * *****-**-*****-**-***** (*****) feature **** ****** *** ************* ******* the ****** ** ****** **** ** a ***** ***** ** ******* *** on ******* *** *** *** ******** its *******, * ****** ***** *** pick ** *** ******* ***** *** first *** **** *** ******* **** delays, ** *** ** **** **:
** *** ***** ** *** ****** talk ** *** *******. *** *** drone #* **** **** ***** #*, before **** ***** *** *******, *** say "***, ****, * *** ***** 12 ******* ***** ** ******* **** and **'* ***** ** ******* **** for ***. *** ***'* *** ***** taking *** *** *** **** *** meet **?" *** **** ***** #* gets ***** *** *** ***** #* says: "****, ****. ***'** ****. * will **** *** *** ******* ** you. *'* ***** ** *** ****." So **** *** ** *** **** persistence.
************, *** *******'* ****** **** * "daisy *****" ********** **** ****** **** to *** ******** ******** ***** *** not ** '****' ** * ******** dock.
No ***** *********, ***** *******
*** ******* ********* ** **** **** they ** *** **** ***** ********* on *****, *** *** ***-***** ******* the ***** ******** ********** **** **** receive * ***** (****** ****** **** of *****) ****** **** *** - a ******* **** *** ******* ******* with - ******** **** ** ******* and ****** *** ****** ********.
***** ****** ******** *** **** ******** months, *** *** ****** ***** (*.*., what **** ** ********) **** ****** on *** ******** *** *** **** of *** ******** (*.*., *** ***** it ** ** *** *******, ******* it ** ******** ** ***, ***.).
Base *******
***********'* ****** *** ****** *** ******* at **** ******** ** *** ***-***** facility. *** ******* ** ********* ** the **** *****, ****** *** ****, and ***** *** ***** ** ** appropriate *********** (****** *** ******* ** coolers).
******* ** *** *****, *** **** station ** **** ******** **** ** NVIDIA *** *** **** *********, ********, and ******* ********, *** *** *******'* website.
Contact ********
****** ***********'* ********** ******, ***** **** battery ********, *** ******* ****** ** contact ******** ******* *** ***** **** and ****-****** ****** ******** **** ** the **** ** *** ******* - an ******** **** **** ** ********* as *** "**** ********" *** ** charge * *****:
******* ******** ** *** **** ******** way ** ****** *** *****, ***** on *** ********. **'** ***** *** whole ******* ********, *** ** ***** that's **** *******. **'** **** ***** wireless ********- ** ** **** ***********. And **'* ****** ** ** **. I ****, ** ***'** ******** **********, you **** ** **** * ****. You ********* **** ** **** * coil ** **** *****. **** **** is *** ***** ******** ** ******* you ** *** [**** *** ***** is ******]
********
************** ******** ******* ********* *** *******'* ******** ******** *** drone *******, ******* ***-**, ***** *********, archiving, ***.
************
*********** *** ********* *** ****** ** respond ** ****** ** ***** *******, such ** ******, ******** ******* *********, intrusion, ***. ********, *** ******* **** us **** **** *** ********** **** "75-80%" ** *** *** *****:
** **** **** ** **** ************ where **'** ********** **** * *** of ***** ********* *******. ** ******* it's ******* ******* **** ****** **********, optical *******, ** ***** *******, **** radars, **'** ********** **** *** ** them, .... ** ** **% ** the *** *** ***** ** **** seen **** ** **** ********** **** them
*******, *********, *** ***** **************'* ********, ********* * ***** ********** ***** (see ******* *******), ****, ***.
Ground ***** ************
***** **** *** ****** *** ****** as ********* ************, ***********'* *** **** us **** ** **** *** *** ground ****** ** **** *** ****** "symbiotic ************", *** *** *******'* ****** can ********* **** **** ******** ****** robots, *** *******, **** ******** ***(***** ****** ** * ********* ***********'* *******).
*** *** ** *********** ******* *** drone *** ****** ***** ** ** higher ******** *** ***** ** *** aerial ***** **** ****** ** *** shorter ******** **** *** ******* ** feed *** **** ** ****** ***** with *****-**-***-**** *** ********** ***** **********, as ** **********:
** ******* **** **'** ********* ***** we ******** **** ********. *** ***'* just **** ** *** ***** ******* an ****, *** **** ****. ** the *** ** *** ***, *** need ** *** ***** ** *** ground ** *** **** ** ********* a ******. ** ** **** ********* of *** ******** ** *** *****, we *** *** ***** ****** **** the ****** ***** *******, *** ** can **** *** *********** ** *** ground ***** ******* *** *** ****** based ******* *** **** ******* ***********. ... *** ***** **** *** ******** mobility **** *******. ** ******* *******, but ** *** ***** ******** *********** awareness ** *** **** ** **** video. ** ****, ** ****** ** that **** ** ** *** ****** based ***** ** *** ****** **** robot **** **** **** ***** ** the ****, ******* ***********.
**** *** *** ******** ******-***** ******, including ************* *.**** ****** ***.
2 ********** ******, *******
*********** *** *** ********** ******* - Robot-as-a-service (** ****) *** * ***** option ***** ******** ********** ******** *** an *** ************ (*********** + ****** + ******). ***** *** ******* **** not ******** ***** *******, **** ******** ranges *** **** ********** *******: "* lot **** **** $***,***/****" *** *****-**-*-******* and "$***,***-$***,***" *** *** ***** ******.
*****-**-*-******* ** * *-**** ************, *** company **** **.
*** *******, ******'* ******* ****** ** $***,*** ********.
Nightingale **. ***********
************* ** *** *******'* ******* ** what **** ** ***** **** *********** in *** *****, **** ********,********* ****, ***., ** *** *** **** Wu **** **:
* ***** *** ** **** *** ability ** ** **********. *** **** the ************* ** *** ******. ... So *** *** * *** ** is ** ***** ** ****** *** systems ****** ******. ****, ****** ******, and ** ****** * ****** *** rugged, ** ******* **** **********.
"A *** ** ******** ****** ***** *********"
*********** **** ** **** **** *** seeing * *** ** ******** ****** BVLOS ********** ****** *** ***********, *** they ******* **** ** ***** *****, BVLOS **** ****** ***********:
**'** **** * *** ** ******** on ******* ***** *********, *** *** FAA, ***** **** ********** ** **************, congressional *************** **** *** ********** ** drone ********* *** *************** ******. * think *****'* * ******** ****** ** make ***** ** ******** *****. **'* going ** ****** ** ******** *****. Probably ** ***** ***** **** ***. I'm ************, ***** ****** ****'** * bit **** **********. ***** *** ***** is ********* ** *******
** ** ******* ** **** **** or ** ** ** ***** ** happen, *******, ** ***** ****** ******* commonplace, *** ****** **** ******* ******. Lack ** **** ** ***** *** BVLOS *** **** ********** *********** **** make *** ******** ****** *** *********** eliminate * ******* ** *****.