Start here if you're new
what it is
It sells drone AI, drone services, and ballistic gear for defense and security buyers.
how it gets paid
Last year Safe Pro made $2M in revenue. Safe Pro AI software was the main engine at $0.9M, or 45% of sales.
what just happened
Revenue hit $379K last quarter, and EPS stayed at -$0.69.
At a glance
n/a balance sheet
-$0.70 fy2024 eps est
$2M fy2024 rev est
n/a operating margin
~$101M market cap
What they do
It sells drone AI, drone services, and ballistic gear for defense and security buyers.
You are not buying a giant factory. You are buying 11 people turning drone images into software, services, and armor. That is $2M in annual revenue with $0 in long-term debt (money owed for more than a year), so one contract matters more here than it does at a bigger company.
How they make money
$2M
annual revenue
Safe Pro AI software
$0.9M
+274.0%
Mission-critical drone services
$0.6M
+274.0%
Ballistic protective products
$0.4M
flat
Government and other programs
$0.1M
+274.0%
The products that matter
government ai edge systems
AI Edge Processing Systems
$1M subcontract
this is the visible catalyst. the projected 500% q1 jump is tied to a $1M government subcontract, which is large relative to a roughly $2M annual revenue base.
current catalyst
imagery analysis software
Drone Imagery Analytics
part of the other ~$1M
this sits inside the remaining roughly $1M of revenue outside the subcontract. if it does not turn into repeat deployments, the business stays tiny.
repeat-order test
Key numbers
-$0.70
fy2024 eps est
$2M
fy2024 rev est
33.4%
gross margin
Gross profit kept about 33.4% of each revenue dollar.
n/a
dividend yield
Financial health
n/a
strength
- balance sheet grade n/a
- long-term debt $0M (0% of capital)
n/a — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for SPAI right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue hit $379K last quarter, and EPS stayed at -$0.69.
Revenue rose 274% vs. prior year, and gross margin was 33.4%. The company still lost money on the quarter.
$379K
revenue
$0.69
eps
33.4%
gross margin
revenue growth
Revenue rose 274% vs. prior year to $379K, but the company still lost $0.69 per share.
source: company earnings report, 2026
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
the #1 risk is the $1M government subcontract failing to turn into repeat defense orders.
high
one contract is doing too much narrative work
the projected 500% q1 jump is tied to initial deliveries under a single $1M subcontract. That is a catalyst, not diversification.
if follow-on work does not appear, you are left with roughly the other $1M of annual revenue and the same valuation burden.
high
the cost structure is still extreme
46.7% gross margin says there may be a saleable product. -n/a operating margin and n/a net margin say the company is operating far ahead of its scale.
that gap usually gets closed by rapid revenue growth, cost cuts, or new capital. if none happen, shareholders feel it.
med
defense procurement moves slower than story stocks trade
demos, pilots, and subcontracts can create excitement well before they create recurring revenue. government buying cycles do not care about your quarter.
a delay does not need to kill the technology to hurt the stock. it only needs to postpone validation.
med
thin coverage means thin guardrails
there is no xvary composite score, no useful price-target set, and limited institutional context here. That is what early-stage micro-caps look like.
when coverage is thin, price can outrun fundamentals in both directions.
the risk picture is unusually simple: a business of roughly $2M in revenue is being valued at about $101M because investors think the $1M subcontract is the start, not the peak.
source: institutional data · regulatory filings · risk analysis
Pay attention to
key metric
whether revenue moves beyond the current ~$2M base
the story gets more believable when growth stops being one contract against a tiny denominator and starts looking like a business.
calendar
q1 2026 results after mar 27, 2026
this is the first hard test of the 500% projection. headline growth is easy. delivered revenue is harder.
trend
whether one subcontract becomes a program, not a press release
repeat orders matter more than a single win. You want to see evidence that customers come back.
risk
cash burn versus gross margin
46.7% gross margin is promising. -n/a operating margin is not. the operating line has to improve before the market will treat this like a business instead of an option.
Analyst rankings
source: institutional data
Institutional activity
institutional ownership data for SPAI is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$6
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive