Tonner Drones Secures Major Investor Backing in Turnaround Push

PARIS, FR – January 19, 2026 – Tonner Drones announced today that key shareholders have substantially increased their stakes, a move that consolidates more than a quarter of the company's capital in the hands of long-term investors and signals strong confidence in its ongoing financial turnaround and strategic pivot.

A Decisive Vote of Confidence

In a significant development for the Euronext Growth-listed company, two major, unnamed shareholders have doubled down on their investment. According to a company statement, one shareholder increased their holding from 10 million to 20 million shares, while another boosted their stake from over 5% to more than 10% of the outstanding capital, now holding 62 million shares.

These substantial open-market purchases, combined with the 12.5% stake held by CEO and Chairman Diede van den Ouden, bring the total committed long-term shareholding to over 25%. This consolidation is being interpreted by the market as a powerful endorsement of the new management's direction since taking the helm in June 2023.

"The fact that our major shareholders have increased their positions on the open market is a powerful validation of the work we have accomplished over the past year," stated D.M. van den Ouden. "With more than 25% of the shares held by committed, long-term investors, we are building a stable foundation. This level of commitment provides us with the stability and confidence to pursue our ambitions with full force."

Van den Ouden has personally demonstrated this commitment, acquiring 20 million shares on the open market between late 2024 and early 2025 and exercising share subscription warrants. His total holding now exceeds 65 million shares, or over 13% of the company, cementing his alignment with the firm's long-term success.

Engineering a Financial Turnaround

This surge in investor confidence is not unfounded. It follows a period of intense and successful restructuring for Tonner Drones, formerly known as Delta Drone. Under new leadership, the company has executed a rigorous turnaround plan to clean up its balance sheet and establish a path to profitability.

Financial results from the past year illustrate the dramatic shift. The company slashed its losses by nearly 79% between the first and second halves of 2023, and the total loss for 2024 was cut to €5.639 million from €10.749 million the previous year. A key part of this strategy has been aggressive cost control, with the company targeting monthly operational costs of just €20,000 to €25,000 in 2025, a fraction of the €8.48 million in operational costs reported for 2023. In a further move to preserve capital, CEO van den Ouden has waived his management fee for 2025.

Perhaps most critically, Tonner Drones has overhauled its debt structure. It successfully negotiated the termination of complex variable-price financing instruments and consolidated its debt into two clear, manageable loans totaling €4.5 million. This move alone is expected to reduce annual interest expenses by €140,000, freeing up crucial cash for strategic growth initiatives. Bolstered by a €5 million capital increase in April 2024, the company's cash position stood at a healthy €1.655 million by the first quarter of 2025, providing at least 12 months of operational visibility. With these measures in place, management is now targeting profitability for 2025.

A Four-Pillar Strategy for Growth

With a stabilized financial base, Tonner Drones is now focused on executing a four-pillar growth strategy unveiled in September 2024. This strategy aims to leverage both in-house innovation and strategic investments to capture a share of the burgeoning drone market.

The first pillar is the commercialization of Countbot, an AI-powered warehouse inventory drone system. The company plans to bring this product to market in 2025 through partnerships, targeting the massive €1.1 trillion IoT-driven logistics sector.

The second pillar involves actively managing its equity participations in promising French drone technology firms. Tonner Drones holds stakes of between 5% and 12% in Elistair, a specialist in tethered drone solutions; Diodon, a maker of robust inflatable drones; and Donecle, which provides automated aircraft inspection drones. This strategy is already bearing fruit, with the company recently announcing the partial sale of its stake in Donecle for €1.25 million—a significant accounting gain on an asset with a book value under €20,000. Tonner retains a 5% stake, signaling continued confidence in Donecle's future.

The third and fourth pillars involve leveraging its public listing for strategic alliances, including potential mergers or reverse takeovers, and actively managing its treasury through selective investments in equity and crypto-related assets to generate additional returns.

Positioning in a Dynamic Market

Tonner Drones' strategic pivot is timed to capitalize on explosive growth in the global drone industry. The total drone market was estimated at US$73.1 billion in 2024 and is projected to more than double to US$163.6 billion by 2030. The commercial segment, where Tonner Drones is focused, is expected to grow from US$30 billion to over US$54 billion in the same period.

Growth is being driven by advancements in AI, battery life, and autonomous systems, expanding applications across logistics, construction, and agriculture. The Drone-as-a-Service (DaaS) model, in particular, is forecast to be the fastest-growing segment, creating opportunities for technology providers like Tonner Drones.

Furthermore, the company is developing an in-house drone-jamming technology called Inhibitor, with patents secured in the U.S., UK, and Europe. This positions the company to tap into the defense sector, where European spending is rising by 8% annually, offering a path for revenue diversification beyond its core logistics focus. With a strengthened balance sheet and the clear backing of its major investors, Tonner Drones appears poised to aggressively pursue these opportunities throughout 2026.