Elsight Ltd
ASX:ELS
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Elsight Ltd
ASX:ELS
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Elsight Ltd
Elsight Ltd. is a provider of ground-breaking hybrid video and data transport services on-the-move or fixed for large safe-city projects, sensitive facilities management, and surveillance and protective activities. Its products include wearable and portable devices, vehicle mounted and fixed/wall mounted devices, including RiderM-04 mobile digital video recorder (DVR), command and control software, and multichannel-secure multi data link unit. RiderM-04 DVR offers encoding resolution (WD1) on all four channels (for transmission or recording), Wi-Fi automatic off load of recorded files, storage hard-disk shock vibration proof, two-way audio in between the command and control center and the vehicle where it is installed. Multichannel-secure multi data link unit is a technology, providing live video and audio transmission as well as recording capabilities through multiple 3G and 4G networks. Its solutions include first responders, intelligence, media and broadcast, telemedicine and transit.
Elsight Ltd. is a provider of ground-breaking hybrid video and data transport services on-the-move or fixed for large safe-city projects, sensitive facilities management, and surveillance and protective activities. Its products include wearable and portable devices, vehicle mounted and fixed/wall mounted devices, including RiderM-04 mobile digital video recorder (DVR), command and control software, and multichannel-secure multi data link unit. RiderM-04 DVR offers encoding resolution (WD1) on all four channels (for transmission or recording), Wi-Fi automatic off load of recorded files, storage hard-disk shock vibration proof, two-way audio in between the command and control center and the vehicle where it is installed. Multichannel-secure multi data link unit is a technology, providing live video and audio transmission as well as recording capabilities through multiple 3G and 4G networks. Its solutions include first responders, intelligence, media and broadcast, telemedicine and transit.
Record Revenue Growth: Elsight reported approximately $23 million in revenue for 2025, an 11-fold increase over 2024, marking a breakout year and an inflection point for the company.
Profitability Achieved: The company reached profitability in 2025 and ended the year with $59 million in cash, providing significant capital to fund future growth.
Strong Order Backlog: Elsight enters 2026 with $22 million in confirmed orders, already representing 96% of 2025's total revenue, with 40% of this backlog's cash already received.
High Margins: Gross margins reached approximately 77%, with software stack margins climbing from 82% to 90%. Management expects margins to expand as the business model shifts further toward software and recurring services.
Recurring Revenue Growth: Recurring revenue from Elsight's cloud business was $2.6 million in 2025, expected to rise substantially in 2026 due to rapid deployment and revenue recognition timing.
Manufacturing Readiness: The company operates a capital-light, contract manufacturing model with flexible capacity, ensuring rapid, low-cost scale and limited risk from supply chain or tariffs.
Strategic Expansion: Elsight is expanding its product, geographic, and domain reach, moving beyond connectivity into a broader mission-enabling platform for air, land, and maritime systems.
Strong Position in Defense: Defense customers drive most revenue currently, but commercial use cases are emerging. The U.S. DoD project (Project G.I./DIU) is progressing well, expected to contribute revenue later in 2026.