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Unusual Machines, Inc. (UMAC) specializes in innovative U.S.-manufactured drone components and systems, serving both consumer and defense markets with NDAA-compliant solutions. This news hub provides investors and industry professionals with timely updates on corporate developments, product innovations, and strategic milestones.
Access comprehensive coverage of UMAC's press releases, financial announcements, and operational updates. Track key initiatives including advanced manufacturing processes, government certifications, and market expansion efforts across the drone technology sector.
Explore updates on product launches, regulatory compliance achievements, and partnership announcements. This resource serves as a centralized reference for understanding UMAC's position in the evolving aerospace and defense technology landscape.
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Unusual Machines (NYSE American:UMAC) has announced the release of the Rotor Riot Brave 55A ESC, marking its second component addition to the Blue UAS Framework. This electronic speed controller is designed for high-performance drones and is manufactured in the USA, meeting NDAA compliance requirements.
The Blue UAS Framework, established by the Defense Innovation Unit (DIU), provides trusted drone components for Department of Defense and government entities. The Brave 55A ESC is a 4-in-1 controller featuring 32-bit processors, compatible with the Rotor Riot Brave F7 flight controller.
The product will be available through the Rotor Riot store starting March, with enterprise customers able to place volume pre-orders. This launch reinforces Unusual Machines' position in providing NDAA-compliant components for the U.S. drone industry.
Unusual Machines (UMAC) has appointed Brad Mello as Vice President of Manufacturing to advance its domestic drone components production. Mello, with extensive experience in automotive manufacturing and industrial automation, will initially focus on establishing in-house manufacturing for high-performance brushless motors, particularly for the FPV (first-person view) market.
The company plans to develop capabilities for motor winding, balancing, and final assembly to enhance supply chain resilience and reduce time-to-market. Mello's background includes leading automation projects at Tesla for Model 3 and co-founding Mode Designs, a premium mechanical keyboard company.
This appointment aligns with Unusual Machines' strategy to vertically integrate production and become a leading provider of U.S.-made drone components, focusing on quality, performance, and cost control while supporting both commercial and defense partners.
XTI Aerospace (NASDAQ: XTIA) has signed a non-binding MOU to acquire a 30% equity stake in ReadyMonitor, an AI-powered autonomous drone company, with an option to acquire the remaining 70% within 12 months. The transaction is expected to close in Q1 2025.
ReadyMonitor holds a unique FAA waiver allowing for drone operations beyond visual line of sight without human presence. The company provides Drone-as-a-Service solutions to enterprise customers, offering 100% turnkey solutions with remote autonomous operation through their 24/7 Operations Center.
The acquisition aims to combine drone technology with VTOL innovation, potentially accelerating XTI's development of both UAV and VTOL solutions. DroneNerds, the largest UAV dealer in the US and current 40% stakeholder in ReadyMonitor, supports the transaction and will continue providing customer access and service.
Unusual Machines (NYSE American: UMAC) issued a shareholder letter addressing potential short-seller attacks during the holiday season. The company highlighted its commitment to transparency through proactive auditor changes post-IPO, simplified corporate structure, and regular shareholder communications. In its first year, UMAC grew from 2 to 15 employees, completed its IPO, acquired Rotor Riot and Fat Shark, and launched the Brave F7 Flight Controller - its first U.S.-made product, which earned Department of Defense Blue UAS Framework listing. The CEO emphasized the company's long-term focus on building U.S. drone technology and strengthening supply chains. To combat short selling, shareholders are advised to hold shares in cash accounts, opt out of securities lending programs, or transfer shares to the company's transfer agent.
Unusual Machines (NYSE American: UMAC) announced that Donald Trump Jr. has joined the company's advisory board. As a business leader, best-selling author, and investor in the company, Trump Jr. will provide expertise to support the company's mission of bringing drone component manufacturing back to America. The announcement follows the recent release of their Brave F7 FPV Flight Controller, demonstrating the company's commitment to reducing reliance on foreign-made drone components and strengthening domestic supply chains.
Unusual Machines (NYSE:UMAC) reported Q3 2024 financial results, with sales reaching $1.53 million, marking a 9% quarter-over-quarter increase with a 26% gross margin. Year-to-date sales total $3.56M, on track to meet the 2024 target of $5M. The company received approval for its Brave 7 flight controller on the Blue UAS Framework, securing orders for nearly 7,000 units and shipping over 1,000 units monthly. A subsequent private placement in October raised $1.955M with net proceeds of $1.733M. The quarter ended with $1.69M in cash, while reporting a net loss of $2.1 million or $0.30 per share.
Unusual Machines (NYSE American: UMAC), a leading American drone company, has scheduled its Q3 2024 earnings conference call for Thursday, November 14, 2024, at 4:30 p.m. ET. The call will cover operational and financial results for the quarter ended September 30, 2024. Management will present prepared remarks followed by a Q&A session. A webcast replay will be available for three months through the company's Investor Relations website for those unable to attend the live event.
Unusual Machines (NYSE American: UMAC) has closed a $1.95 million private placement with institutional investors. The company issued 1,286,184 units at $1.52 per unit, with each unit comprising one common stock share and one warrant exercisable at $1.99 per share. The warrants become exercisable after 180 days and have a 5.5-year term. Company insiders, including CEO Allan Evans and two board members, invested $250,000 in the placement. The proceeds will be used for general corporate purposes and working capital. Dominari Securities acted as the exclusive placement agent.
Unusual Machines (NYSE American: UMAC) has announced a $1.96 million private placement with institutional investors. The company will issue 1,286,300 units at $1.52 per unit, with each unit comprising one common stock share and one warrant exercisable at $1.99 per share. The warrants will be exercisable 180 days after closing and have a 5-year term. Company insiders, including CEO Allan Evans and board members, will invest $250,000 on identical terms. The proceeds will be used for general corporate purposes and working capital. The placement is expected to close on October 30, 2024.
Unusual Machines (NYSE American: UMAC), a drone and drone components manufacturer, has announced its participation in three investor conferences in October 2024:
1. LIVE! With Webull Corporate Connect: Technology Investment Webinar on October 16 at 2:40 p.m. ET
2. The 2024 LD Micro Main Event XVII on October 29 at 9:30 a.m. PT (12:30 p.m. ET) at the Luxe Sunset Boulevard Hotel, Los Angeles
3. ThinkEquity Conference on October 30 at 12:30 p.m. ET at the Mandarin Oriental, New York City
CEO Allan Evans and executive team members will be available for one-on-one meetings with investors at the in-person conferences. Live webcasts will be available for some presentations.
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