Drone Volt: Revenue Down 3% in Third Quarter, Gross Margin Up 52%
Drone Volt published on October 14, 2026 its unaudited revenue and gross margin for the third quarter of 2026. Consolidated billing declined by 3%, to €1.856 million, but gross margin increased by 52%, to €1.1 million. The gross margin rate thus reached 61%, compared to 39% a year earlier. The gap between these two trajectories is due to the composition of sales. The design, services and training activities, grouped under Drone Volt Factory, Services & Academy, increased by 30% and now represent 73% of revenue, compared to 54% a year earlier. Distribution, which has lower margins, declined by 43%.
High-Margin Sales Up 30%, Distribution Down 43%
In the third quarter of 2026, Drone Volt Factory, Services & Academy revenue increased from €1,040 thousand to €1,356 thousand. Distribution fell from €875 thousand to €500 thousand, which explains the 3% decline in consolidated billing, to €1,856 thousand. The group attributes this decline to "low volumes realized on complementary Distribution activities". The effect on gross margin is the opposite. Gross margin for Factory, Services & Academy activities increased by 66%, to €1,056 thousand, with a gross margin rate of 78%, compared to 61% a year earlier. Despite a 29% decline in its gross margin in value, to €75 thousand, Distribution saw its gross margin rate increase from 12% to 15%. In total, the consolidated gross margin for the quarter stands at €1,131 thousand, compared to €742 thousand in the third quarter of 2025.
Over Nine Months, Revenue Up 10% and Gross Margin Rate at 53%
The cumulative reading differs from that of the third quarter alone. Over the first nine months of 2026, revenue increased by 10%, to €6.7 million, compared to €6.1 million a year earlier. Gross margin increased by 41%, to €3.6 million, and the gross margin rate rose from 41% to 53%. This trend extends the momentum observed in the first half. When publishing its half-yearly accounts on September 16, 2026, the group reported a 15% increase in revenue and a net loss reduced to €4.6 million, compared to €8.0 million a year earlier. The gross margin published today does not provide information on operating expenses, and therefore not on the net result for the quarter. To finance its development, Drone Volt carried out a capital increase of €2.35 million during the quarter. According to the company, this operation, completed by Sol.One's investment finalized at the end of September, contributes to the strengthening of its financial structure.
Sol.One Commits to Order at Least €50 Million Over Five Years
The quarter was also marked by several agreements. Drone Volt became the exclusive distributor, on international civil markets outside Europe, of an autonomous "Drone in a box" surveillance system derived from Azur Drones assets. The group created the Drone Volt Power Line Center on the UTAC site in Mortefontaine, intended for its service offerings to electrical network operators. It was also qualified as a supplier within the framework of the Defense Drone Initiative launched by the Canadian government. The partnership with Sol.One concerns the development of the Saboteur UAV drone system. It is accompanied by a firm purchase commitment for propulsion systems and components from Drone Volt for a minimum amount of €50 million over the next five years. For Marc Courcelle, Chief Executive Officer, this commitment "opens a new phase of development for Drone Volt starting from 2027". The company indicated that it is approaching the end of 2026 with confidence and intends to continue accelerating its services, training and "Drone as a Service" activities. According to the group, the partnership with Sol.One should contribute to a gradual change in scale from 2027 onwards. The next milestone is set for January 2027, with the publication of annual revenue.
