FireFly Robotics, Inc. FFLY

FireFly is an innovative agricultural technology and robotics company with a primary focus on providing autonomous and semi-autonomous robotics for the golf and turf care ecosystem. We manufacture and commercialize robotics systems that incorporate autonomous mobility, electric vehicle (“EV”) and hybrid drive technology, and artificial intelligence (“AI”) and machine learning (“ML”) capabilities. Our robotics systems solve significant financial, environmental, labor, and productivity challenges in precision turf management as the premier technology supplier for golf courses, sports fields, turf farms, and related public and private applications. Our mission is to leverage the integration of our hardware and software platforms to deliver a comprehensive suite of robotics solutions that serve the full spectrum of groundskeeping and turf management needs. We believe we have assembled a highly qualified team with extensive experience in the robotics and agricultural technology (“AgTech”) arena and complementary fields, to support our business strategy, and are committed to continuously strengthening our culture of innovation, quality, and excellent customer service. We design, develop, and manufacture our robotics systems in the United States. We are a growth-oriented robotics company with internally developed proprietary software and patented mechatronic systems. Our technology is integrated into our Autonomous Electric Vehicle (“AEV”) robotic mowers; the Autonomous Mowing Platform (“AMP”), including our AMP-L100 and AMP-X100 robots; and our Manned Robotic Harvester (“MRH”). We also sold our M220 automated mower from 2019 through 2023. Our prospective development pipeline includes additional autonomous turf solutions under development, that leverage our hardware and software platforms, including the AMP-X60 and AMP-X90 platforms, a greens roller, a bunker rake, and a fairway sprayer among others. The design, development, and manufacturing of our robotic systems is entirely conducted from our 108,500 square foot Salt Lake City, Utah facility. Our products are sold directly to customers and complemented by a suite of services that support product deployment and maintenance. Our vertically integrated platform combines in-house engineering and research and development, proprietary software technology, including data analytics and cloud-based systems, fabrication and assembly, and direct sales, installation, service and customer support. We develop and control our proprietary technology stack and perform the engineering, fabrication and final assembly of our robotic products, which we believe allows us to more rapidly incorporate product and technology improvements across our product platforms. For example, our experience with servo electric motion control technology used in our MRH systems facilitated the adoption of similar technology in our AEV robotic mowers. Our vertical integration does not extend to all components and raw materials used in our products. We purchase raw materials, commercially available off-the-shelf components and certain manufactured or fabricated components from third-party suppliers when we believe doing so is more efficient than producing such items internally. As a result, we do not control the manufacturing, availability, pricing or delivery of these third-party components and raw materials and are subject to risks associated with our suppliers and supply chain. We believe our integrated approach, particularly our control over product engineering, proprietary software and technology, fabrication, final assembly, sales and service, allows us to more efficiently develop, manufacture, deploy and support our products and shorten the time from product development to commercial deployment. Golf courses in the United States, Australia, Canada, and Mexico are actively being maintained by our AMP machines, delivering cost savings and allowing groundskeepers to reallocate time and resources to other aspects of course maintenance. As of June 30, 2026, we have an estimated combined total of over 900 AMPs, MRH, and M220 machines in service throughout the world, resulting in a compounded annual growth rate (“CAGR”) of approximately 29.9% from 76 machines deployed as of December 31, 2016.(1) Our industrial, self-driving, large-area AEV robotic AMPs are specifically designed for the unique requirements of the golf course (of which there are over 38,000 estimated in the world (2)), sports field, municipal, real estate, and turfgrass mowing markets. Our AMPs provide a unique mowing approach that is both environmentally and economically sound. The AMP-L100 is our first robotic mower, a reel mower for shorter heights-of-cut, which we introduced in 2023 and began selling in 2024. The AMP-X100 is our second AEV robotic mower, a rotary mower for longer heights-of-cut, which we introduced and began selling in 2025. These robots are powered by our full autonomy software stack which we brought in-house in 2020. Our first autonomous mower prototype, the M220, married hybrid diesel-electric automation with full autonomy through a third-party system and began to be developed in 2018. As of June 30, 2026, our AMPs have autonomously mowed over 100,000 acres. We have delivered approximately 130 AMPs as of June 30, 2026. As of June 30, 2026, we had an order backlog of 76 AMPs. --- In addition to our AMPs, our MRH machines combine performance, utility and efficiency in the demanding turf farm segment, where turfgrass must typically be harvested and shipped within a very short period of time. We estimate that our worldwide fleet of MRH machines is capable of cutting over 10,750 pallets of turf each day across the world. We have MRH machines operating in the United State and throughout the world in Australia, the United Kingdom, Brazil, Canada, South Africa, Israel and Mexico. We estimate the total addressable market (“TAM”) for our AMPs and MRH machines using publicly available information regarding the number of relevant sites, including golf courses, airports, municipal parks, public schools, and turf farms, where our AMPs and MRH machines could be utilized. We also use internally developed assumptions relating to the number of machines that we expect would be used at such sites, based on our experience with existing customers and data available from our AMPs and MRH machines operating in the field, along with our anticipated average selling price of our machines over the near future. We then calculate the TAM as the aggregate amount if all the machines in the identified markets were replaced with our AMPs or MRH machines, as applicable, by taking the aggregate number of machines available in each applicable market and multiplying it by the expected average selling price of our machines. Based on these inputs, we believe that these target mowing and turf harvesting markets represent a TAM of approximately $60 billion in total. This is comprised of approximately $27 billion attributable to golf courses, with over 38,000 courses globally(2) and multiple mowers used per course; approximately $29 billion attributable to precision mowing, with 36,000 airfields and airports(3), 23,000 city parks(4), and 128,000(5) US schools and campuses; and approximately $3 billion attributable to turf harvesting, with 2,500 turf farms worldwide(6). We believe that our AMPs and MRH machines provide significant cost savings to our customers. Our AMPs require no fuel to operate, entirely eliminating fuel expenses in connection with fairway mowing. Once trained on a fairway, the AMPs require no human operator. Our MRH machines only use an average of 2.0 gallons per hour, including both diesel and electric components; in contrast to the estimated average of 4.3 gallons of diesel fuel per hour of operation used by our main competitors. Based on the weekly diesel (on-highway) price published by the U.S. Energy Information Administration (“EIA”) as of June 30, 2026, we believe the efficiency provided by our MRH machines could lower a typical MRH customer’s fuel costs by approximately $15,000 per year. Our MRH machines automate the stacking process, allowing harvesting and stacking to be completed by a single individual. The turf grass harvesters sold by our primary competitors generally require two to three individuals to operate—a driver, and one or two stackers. In some cases, including harvesting more delicate varieties of turf grass, additional labor may be required. We believe that these significant labor-saving efficiencies enable our customers to spend less on fuel and allocate labor to more productive activities. Our products are designed to accelerate the large-scale adoption of sustainable solutions. To accompany our machines, we have developed a comprehensive portfolio of aftermarket parts. Complementing our machines, our software platform includes proactive service (maintenance and repair) and software services. We expect these services to generate long-term brand loyalty while also creating a recurring revenue stream for each product across its lifecycle. All sales, deliveries, and service operations are managed in-house without relying on third-party distributors. This direct-to-consumer model combined with our integrated, digital-first strategy is convenient and transparent for customers, efficient and scalable to support our continued growth, and provides best-in-class, uncompromised experience to our customers. Our vertically integrated platform enables us to provide our diverse offering of highly differentiated products and services as well as our technology-first, direct-to-customer experience. Our ecosystem consists of the following components: ● Robotics. Our machines boast all-electric propulsion, LiDAR obstacle detection, patented steering systems, and teach-and-repeat autonomy for large-scale turf maintenance applications, and are also produced through robotic manufacturing processes. ● Artificial Intelligence and Machine Learning. Our commercially deployed AMP autonomous mowing platform uses artificial intelligence (“AI”) and machine learning (“ML”) as components of our broader autonomous technology platform. These technologies assist our AMP robots in setting and optimizing mowing patterns, determining operating paths, identifying and classifying objects and obstructions, and collecting and analyzing operational data. Our AI and ML technology includes both internally developed proprietary algorithms and open source algorithms and software components. These technologies are integrated into our broader technology stack, together with our internally developed software, algorithms, modifications and application-specific functionality. Our use of open source technology is subject to the terms of the applicable open source licenses. We have designed our autonomous technology platform so that core technology developed for our existing AMP products can be adapted for additional robotic applications. Each of the products in our current development pipeline, including the AMP-X90 Autonomous Rough Mower, AMP-X60 Autonomous Rough Mower, Autonomous Fairway Sprayer, Autonomous Greens Roller, Autonomous Greens Mower and Autonomous Electric Bunker Rake, is expected to leverage significant portions of our existing autonomous technology, including AI and ML capabilities. Application of this technology to each new product requires additional product-specific development, including modifications to software and algorithms, hardware and sensor integration, mechanical systems, controls, testing and validation based upon the product’s intended function and operating environment. Although these pipeline products are expected to leverage our existing autonomous technology platform, each remains subject to additional engineering, software development, integration, testing and validation before commercial introduction. ● Core Enabling Technology Stack. A secure, reliable, scalable combination of hardware and software supported by a cross-disciplinary engineering team and connecting our proprietary in-machine systems, including electronics, battery, electric drive, chassis, and experience management. The stack is highly portable to each robot, allowing for streamlined production and performance. ● Software. Our architecture of interconnected software applications are designed to deliver seamless, end-to-end experiences using our FireLink web application. Our software platform enables remote diagnostics, software updates, and remote controls, including machine access. ● Product Development and Operations. Our vertically integrated product development and operations functions include design, development, manufacturing, sales, delivery and service. These distributed functions serve the unique needs of our agricultural and golf course customers. As of June 30, 2026, we had 17 service technicians serving customers across the U.S. and 2 service technicians dedicated to our international customers. ● Products and Accessories. Our portfolio is comprised of machines that we believe reimagine the turfgrass harvesting and mowing segments. We expect our products and services will provide us access to new markets and bring new customers into our platform. ● Services. We offer highly tailored and differentiated services that enable near seamless and intuitive experiences throughout the entire product lifecycle. We expect this holistic approach to promote customer satisfaction, create strong brand loyalty, and increase operational efficiency while simultaneously allowing us to capture a greater share of the full lifecycle value. ● Data and Analytics. Our platform is interconnected by our proprietary data and analytics tools. It is comprised of centralized data and analytics tools, providing valuable insights that can be applied to continuously improve platform-wide performance, functionality and uptime to drive increased customer satisfaction. We plan to utilize this ecosystem to continuously improve our products by adding new capabilities and functionality. Enhanced products will attract more customers, deepen existing customer relationships, and expand our data repository and insights, which we expect will further benefit our customers and our business. Beyond the benefits of our ecosystem, we believe that our entrepreneurial culture is a competitive advantage. Our strength comes from a diversity of backgrounds, perspectives, talents and approaches, and we work hard to cultivate a culture of collaboration. Our entrepreneurial spirit drives dialogue and exploration in the development process that we believe has produced world-class products and services. This drives innovation and propels continued growth to help us achieve our mission. (1) We calculate CAGR by taking the cumulative units sold as of June 30, 2026, dividing it by the cumulative units sold as of December 31, 2016, raising the result to the power of one divided by the number of years in the measurement period (9.50), and then subtracting one. (2) Source: Leading Courses, “How Many Golf Courses Are in the World,” July 2024. (3) Source: Airports by Country 2026. https://worldpopulationreview.com/country-rankings/airports-by-country (4) Source: November 21. 2025. https://www.nature.com/articles/s44284-025-00345-4 (5) Source: March 2025. https://learningpolicyinstitute.org/sites/default/files/2025-03/pub_private_NewJersey_MAP.pdf (6) Sources: Statistics Canada Census of Agriculture Tables – 2025, https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3210003401;June 2026. https://www.turfaustralia.com.au/about-us/; June 2026. https://turfgrassproducers.eu/about-us/ --- FireFly Robotics, Inc. is a Delaware corporation incorporated on November 13, 2015 and we began operations in 2010. On June 11, 2026, we changed our name from FireFly Automatix, Inc., to FireFly Robotics, Inc. We operate out of a 108,500 square foot facility located in Salt Lake City, Utah. Our principal executive office is located at 1130 South 3800 West, Suite 100, Salt Lake City, Utah 84104. Our telephone number is (801) 698-7301. Our website is fireflyautomatix.com.

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