Highlights

• Innovaero recorded AUD 3.6 million in first-quarter FY27 revenue.

• The company held AUD 42.9 million in cash at quarter-end.

• Innovaero kept OWL-B certification on track for March 2027.

• The group outlined investment plans for product development and production facilities.

Innovaero Technologies (ASX:INN) develops uncrewed aircraft systems and provides crewed-aviation products and services, combining defence-oriented platforms with an established composites business. Its production plans depend on both engineering milestones and customer programs. The first-quarter FY27 presentation, covering the September 2026 quarter, set out revenue, cash and manufacturing plans shortly after the company's 22 September admission to the ASX.

Quarterly Revenue Reflects Two Business Streams

Revenue totalled AUD 3.6 million, comprising AUD 3 million from Uncrewed Systems and AUD 0.6 million from Crewed Aircraft. Recognised revenue exceeded cash receipts because of timing differences.

The company said it remained on track for its first-half FY27 prospectus revenue forecast of AUD 14.4 million. The Mission Talon Strike program delivered AUD 3 million of quarterly revenue, with a further AUD 13 million expected by 31 March 2027.

Net operating cash outflows were AUD 6.7 million. Approximately AUD 1 million related to one-off listing expenses, producing a pro forma operating outflow of AUD 5.7 million when those expenses were excluded. Cash at quarter-end was AUD 42.9 million.

OWL-B Moves through the Certification Program

Certification for the OWL-B system under Mission Talon Strike remained targeted for March 2027. The presentation reported a successful kinetic flight-test campaign and more than 200 flights totalling 150 flight hours without mission failures.

The company anticipated a customer order after successful certification. That sequence made certification a condition of the expected order rather than evidence that the order had already been secured.

Other development work included the turbine-powered OWL-X platform, canister launch design and the planned start of OWL-C design in the second quarter of FY27. Several associated international discussions were described as highly preliminary.

Facilities Plan for Different Production Levels

The planned headquarters, research and low-rate production facility was designed around approximately 250 units annually on a single shift. The presentation outlined contract signing in November 2026, construction commencing in January 2027 and completion in the second quarter of FY28.

A separate high-rate facility targeted approximately 2,500 units annually on double shifts, with full production planned for the second quarter of FY28. These figures described intended capacity rather than production already achieved.

State grant funding of AUD 3.7 million, representing half of the total grant, was available for drawdown to support headquarters development.

Listing Capital Supports the Investment Schedule

The initial public offering raised AUD 40 million before costs, with net proceeds of AUD 38.3 million. Planned allocations included AUD 23.3 million for product and platform development and AUD 9.5 million for facilities and production infrastructure.

The presentation distinguished those allocations from expenditure already incurred. Only 22-30 September fell after admission within the reporting quarter.

In crewed aviation, remaining aerial camera deliveries were targeted to contribute AUD 2.1 million in the December quarter, while composites repair training was expected to begin generating revenue in the third quarter of FY27. Certification, contract timing and facility delivery remained central to the planned operating sequence.