Toronto, Ontario--(Newsfile Corp. - April 11, 2019) - Deveron UAS Corp. (CSE: DVR) ("Deveron" or the "Company") is pleased to announce that it has released its audited financial results for the full year and fourth quarter ended December 31, 2018.
| Change % YoY | 2018 | 2017 | Change % Q/Q | Q4 2018 | Q4 2017 | |
| Revenue | 139% | $500,626 | $209,022 | 584% | $233,581 | $34,149 |
| Operating Income | 127% | $144,194 | $63,284 | 251% | $93,817 | $26,680 |
- Total current assets in 2018 increased to $3.4 million from $1.5 million in 2017
Subsequent Events:
On January 29, 2019, the Company announced a $3.8 million Multi-year Agreement with A&L Labs in which Deveron will administer, manage, and execute their soil sampling program. This agreement launches another data acquisition channel that is helping the agriculture industry digitize farming and bring analytics to the field level.
On March 11, 2019, the company announced that Microsoft awarded the to help further Deveron's efforts in artificial intelligence ("AI") and making recommendations and predictions using agricultural data. "We are excited to be chosen by Microsoft to participate in this transformational opportunity" reported David Macmillan, President and CEO of Deveron.
About Deveron UAS: Deveron is a leading agriculture technology company focused on providing data acquisition services and data analytics to the farming sector in North America. Through its on-demand network of drone pilots and soil sampling technicians, the company is providing scalable data acquisition solutions in the imagery and soil space. Additionally, through its wholly owned subsidiary , the company provides growers in North America with independent data analytics and insights on the massive amount of data being generated on farms today.
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David MacMillan
President & CEO
Deveron UAS Corp.
416-367-4571 ext. 221
This news release includes certain "forward-looking statements" within the meaning of that phrase under Canadian securities laws. Without limitation, statements regarding future plans and objectives of the Company are forward looking statements that involve various degrees of risk. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are based on management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world-wide price of agricultural commodities, general market conditions, risks inherent in agriculture, the uncertainty of future profitability and the uncertainty of access to additional capital. Additional information regarding the material factors and assumptions that were applied in making these forward looking statements as well as the various risks and uncertainties we face are described in greater detail in the "Risk Factors" section of our annual and interim Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at . The Company undertakes no obligation to update this forward-looking information except as required by applicable law. The Company relies on litigation protection for forward looking statements.
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