ideaForge Technology reports revenue jump and narrowed losses in Q1 FY27

ideaForge Technology Limited, an Indian unmanned aircraft systems (UAS) provider, reported its audited financial results for the first quarter of FY27. The company saw a significant year-on-year revenue increase, with revenue from operations rising to approximately ₹68.6 crore compared to ₹12.78 crore in Q1 FY26. While the company reported a net loss of ₹2.59 crore, this represents an 89% narrowing of losses from the ₹23.56 crore reported in the same quarter the previous year.

Key operational milestones include the company's indigenous UAV fleet surpassing one million customer flights and securing DGCA Type Certification for the Q6 V2 GEO UAV. To support growth and technology development, ideaForge raised ₹500 crore through a Qualified Institutional Placement (QIP). Additionally, the company received a Letter of Intent from the Government of India under the Research, Development and Innovation (RDI) Scheme for up to ₹151 crore to develop the YETI middle-mile logistics platform, which is designed to carry loads up to 200 kilograms.

Despite the revenue growth, the company noted challenges regarding global supply chain disruptions and component availability. The company entered the new fiscal year with an order book exceeding ₹300 crore.