On Thursday, Parrot announced consolidated sales of 15.1 million euros for the 3rd quarter, down 31% year-on-year due to an unfavorable basis of comparison.

Over nine months, sales for the specialist in professional microdrones were down 11% at 46.7 million euros, due to order deferrals and significant equipment deliveries.

The group also reaffirmed the annual sales guidance it issued last month, i.e. sales of at least 60 million euros, compared with 71.9 million euros in 2022, a drop of around 16%.

In its press release, the group recalls that it has taken measures to reduce its cash consumption, in anticipation of a resumption of growth, expected in the 1st half of 2024.

Listed on the Paris Bourse, Parrot shares gained over 3% on Thursday following these announcements.

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