AIRO Group (AIRO) Announces Joint Venture with Nord-Drone to Deliver Drone Technologies

AIRO Group Holdings, Inc. (NASDAQ:AIRO) is among the 8 Best Small-Cap Defense Stocks to Buy Right Now. On November 14, the company announced that its subsidiary, AIRO Drone, and Nord-Drone LLC’s affiliate firm, Nord Drone Group (NDG), had reached an agreement to establish a joint venture, AIRO Nord-Drone LLC.

AIRO Group Holdings, Inc. (AIRO) Announces Joint Venture with Nord-Drone to Deliver Drone Technologies for US, NATO, and Ukraine

The new business will help increase the production and supply of drones to support the defense requirements of the United States, Ukraine, and NATO, through the integration of AIRO’s aerospace capabilities and NDG’s expertise in operationally proven technologies, such as loitering munitions, first-person view (FPV) drones, and multi-purpose combat drones.

Dr. Chirinjeev Kathuria, Executive Chairman of AIRO Group Holdings, Inc. (NASDAQ:AIRO) stated the following on the AIRO Nord-Drone venture:

“This joint venture represents a significant milestone in delivering proven, battlefield-tested technology to our allies when it matters most. Together with Nord Drone Group, we are creating a transatlantic defense platform capable of scaling rapidly to meet urgent operational requirements.”

In other news, AIRO Group Holdings, Inc. (NASDAQ:AIRO)’s shares plummeted on Friday following the company’s third-quarter earnings call, in which it reported a sharp year-over-year decline in revenue, down by more than 73%, attributed to around $20 million worth of drone shipments being delayed until the fourth quarter.

However, the company stated that it had already booked $24.5 million in fourth-quarter revenue, putting it on track to end the year on a strong note. The management further added that it anticipates full-year revenue in 2025 to surpass the top-line figure for 2024.

Following the results, Mizuho lowered its price target for the stock to $25 from $31 on November 17, while maintaining an Outperform rating, citing a promising long-term outlook for the shares.

While the stock is down 20% year-to-date, Wall Street analysts maintain a positive outlook for its shares with a consensus Buy rating and an average upside potential of over 200% as of the close on November 14.

AIRO Group Holdings Inc. (NASDAQ:AIRO) is a multi-faceted aerospace and defense company.

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