NextVision hits $5 billion valuation after landing record $77 million drone camera deal
Shares in the Israeli defense technology company jumped more than 10% after it disclosed its largest-ever order, a multi-year contract with an undisclosed foreign customer extending through 2026.
NextVision, which develops and manufactures stabilized cameras for drones and unmanned aerial vehicles, has reported the largest deal in its history, valued at $76.8 million.
The order covers the supply of cameras to a customer whose identity was not disclosed. According to market estimates, the buyer is a foreign customer. Deliveries are scheduled to run through the end of 2026, and the agreement includes a mechanism that allows the customer to upgrade the product package at pre-agreed prices, potentially expanding the deal by an additional $2.9 million.
NextVision shares surged by over 10% following the news and are up by more than 185% so far this year, giving the company a market cap of NIS 16 billion (approximately $5 billion).
Prior to the announcement made on Tuesday morning, NextVision’s largest order was reported in March of this year, when an existing customer placed an order for cameras and related products totaling approximately $30 million.
“We have been working on this deal for a long time, and it reflects the fact that NextVision is in the right place, at the right time, with the right products,” said company chairman Chen Golan in a conversation with Calcalist.
Referring to the anonymous customer behind the company’s largest-ever order, Golan said the customer has “based himself on our products, knows how to appreciate them, and understood that he can trust us and our ability to supply large quantities, thanks to the capabilities we have built over the years.” He added that, in light of the deal, NextVision will present an aggressive growth target for 2026.
“This represents a significant leap forward,” Golan said, noting that until now the company’s largest order, worth about $30 million, had been delivered over several years. “In this case, the entire order is scheduled to be delivered by the end of next year.”
Ilya Feiner, an analyst at Leader Capital Markets, said the deal could materially change the company’s growth trajectory. “Our impression is that the company has the production capacity, will train additional personnel, and that its growth potential is now increasing significantly,” Feiner told Calcalist.
In the third quarter of this year, NextVision reported a 63% jump in revenue to $47 million, while net profit rose 57% to $28 million compared with the same period last year.
NextVision’s customers include defense companies such as Elbit Systems, Aaron Frenkel’s UVision, Israel Aerospace Industries, and Aeronautics.
The company’s growth accelerated following the outbreak of the Russia-Ukraine war nearly four years ago, which triggered a global arms buildup, particularly in Europe, amid concerns that the conflict could spread further across the continent.
