Delaton, the California-based maker of the popular but pricey T3 drone, is in the midst of an internal restructuring that’s seen the company shed tens of thousands of jobs, laying off tens of employees, and reducing its staff to fewer than half of what it was in 2018.
The changes are part of a larger plan to consolidate the company, according to a filing made with the California Securities Commission (CSX) this week.
The company is in a tough spot financially, given that the cost of capital has risen sharply since the company was founded in 2007.
But the reorganization will likely be a boon to the company’s shareholders, according the filing.
The filing details several initiatives the company is working on, including an investment in a new drone, which will cost $100 million and will be based in San Diego.
“Delaton will continue to pursue new opportunities to drive forward the development of its business,” the filing states.
“We are working hard to improve our operating efficiency and to strengthen our balance sheet, as well as accelerate the growth of our business.
The Delaton team is focused on making a difference in our communities, and we’re proud to be a part of this effort.”
While the company has been moving toward profitability, it still faces several challenges, according a report from Bloomberg.
The report cited several factors that could impact its financial health, including its struggles with growing drone sales, which dropped by about 40% in 2018 to $1.2 billion.
Additionally, the company recently announced a new round of layoffs, which the company says are due to a lack of skilled staff.
“In the coming months, Delaton will be reviewing its financial strategy, as it continues to make progress in meeting its goals for 2018 and beyond,” the company said in a statement.
“Our goal is to be profitable for the next three years and will continue on a path of constant improvement.”
While Delaton has been able to make big improvements in drone sales in recent years, the loss of staff and the company losing billions of dollars in revenue could hurt the company.
While the overall business model has changed, the cost to manufacture the drone is still higher than its competitors.
The T3, as its name suggests, is a high-flying, unmanned drone that is intended for surveillance and aerial photography.
The drone has an incredibly powerful camera and sensors that help it spot objects in the sky.
However, the drone has also been criticized for its slow speed, which is often compared to a hovercraft.
This makes it difficult to maneuver safely during the day, and it is also difficult to maintain.
The problem with this model, according some experts, is that it’s too dangerous for the general public.
In the past, the drones were often used for private purposes, such as surveying private properties.
However with the advent of drone-centric cities like Los Angeles, many of which have recently been targeted by violent terrorist attacks, the risks have increased.
This has prompted companies like Delaton to look into other ways to sell their drones.
The startup is now working with local governments to build drone communities that would offer residents a more intimate, low-key, but safe experience, according Bloomberg.
Additionally in 2018, Delontons drone was purchased by Amazon, which plans to use the drone in its self-driving car projects.