Xer Tech Holding AB (publ) ("Xer" or "the Company") announces that its subsidiary Xer Technologies AG has signed an agreement with a company within a Hungarian energy group operating electricity distribution networks for a licence to cloud-based data analysis software for inspection of power line infrastructure. The agreement runs for a minimum of two years, with a total value over that period of EUR 119,550.
The software will be used to analyse power line inspection data generated by two X8 drones equipped with an EO/IR camera, a lidar and a corona cam that Xer has delivered to a sister company of the client since 2024.
EUR 65,400 of the contract value relates to the first contract year, including initial setup, and EUR 54,150 to the second year. Revenue is expected to be recognised from the fourth quarter of 2026 and onwards for the duration of the contract.
The agreement adds recurring software revenue to Xer's business and expands the Company's reference customer cases among European grid operators for its inspection offering, which combines long-range hybrid-electric drones with data analysis.
"By combining the long endurance and multi-payload capability of the X8 PRO with AI-powered inspection software, we can help customers extract greater value from every flight while making large-scale infrastructure inspections more efficient. This contract further demonstrates our value proposition and builds recurring software revenues alongside the sale and operation of our unmanned aircraft systems", says Erik Herlyn, CEO of Xer Tech Holding AB.