Drone delivery company Manna Air Delivery recorded a pretax loss of more than €12.3 million in 2023 as the company continued to invest in the business.
The company, which offers drone delivery services in Dublin 15, said its turnover for the year ended December 31st 2023 was €20,439.
Its administrative expenses for the year were €8.85 million, leading to an operating loss of €12.3 million, up from €9.9 million in 2022.
However, the period covered by the accounts was before Manna established its commercial operation in Blanchardstown, with the income during 2023 primarily derived from a pilot programme in Balbriggan.
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The company said it had also invested heavily in its business as it sought to establish a foothold in the drone delivery market.
“Manna Air Delivery is on course to becoming the dominant deep tech company in drone delivery, investing ambitiously in the future – just as pioneers like SpaceX, DeepMind, and Moderna have done. Since 2023, we have launched multiple commercial locations, including Blanchardstown in 2024, which now delivers to 42 per cent of households in the area,” a spokesman for Manna said.
“We’re also operating in Finland and executing a broader expansion plan across Europe, supported by international partnerships with Just Eat and Wolt (Doordash’s European brand).”
Founded in 2018 by Bobby Healy, Manna has developed aviation-grade drones that fly at 80km/h and deliver goods including groceries, takeaways and medicines.
The company has estimated that each of its drone hubs could generate €1.5 million in annual revenue. Manna currently operates drone services in Blanchardstown, but it has a new hub in Glasnevin and is planning further operations in Cork and Kildare later in the year.
Another hub in Tallaght is currently working through the planning system, with the local authority seeking more information on the impact of the proposed service on the local area, including a noise impact assessment, and further details on whether it could affect operations at Casement Aerodrome or air ambulance services in Tallaght Hospital.
The company is pitching itself as a more efficient and more environmentally sound method of delivery, cutting down on carbon emissions from delivery vehicles and easing congestion.
The drones can deliver orders in a 3km radius in less than three minutes, with a single aircraft capable of 100 deliveries a day. To date, Manna has carried out more than 165,000 flights. It employs around 120 people.
However, opponents have raised concerns about the impact of drone deliveries on their homes, with some claiming adverse impacts on their property values.
Manna is planning to continue expanding, both in Ireland and further afield. The company is already testing its services in Finland, and in March Manna said it had raised $30 million (€27.7 million) in funding to support growth, bringing the total raised to date to $60 million.
