Pyreos, a leading manufacturer of high-performance pyroelectric, mid-infrared sensors and detectors, today announces 2.7X year-on-year revenue growth in sales of its flagship ezPyroTM digital surface mount integrated sensor systems.
The company achieved a 2.7X rise in revenue for the year ended 31 March 2020, compared to the same period last year. Following a 3.6X year-on-year increase in revenue posted in 2019, the company has achieved 10X revenue growth in just two years.
“The exponential growth in demand for infrared sensors for detection systems shows no sign of slowing,” said Andrew Wallace, CEO at Pyreos. “The progress we’ve seen to date reflects sales achieved before the onset of Covid-19. The pandemic has further accelerated demand from customers manufacturing critical medical systems, especially capnography.”
Pyreos sales of analogue products are also growing fast, but digital SMD growth is much faster, so the first quarter of 2020 also marks the first fiscal period when Pyreos has shipped more digital SMD sensors than analogue devices.
The company anticipates further growth in healthcare demand for its digital products, including in intensive healthcare settings. Additionally, low-income countries are expected to leapfrog analogue platforms in favour of digital pyroelectric solutions for capnography systems because they deliver greater efficiency, lower system cost, and faster time-to-market.