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Innovaero Technologies Limited ASX:INN

1 opened or increased0 held0 reduced or exitedlatest position by manager, past 12 months90 days: 1 increased, 0 reduced. 1 managers in total.

Position history by manager 1 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

29 Apr 2026 to today

Commentary 1 comments

DateManagerActionSummary

30 Sep 2026Firetrail InvestmentsIncreasedFiretrail Investments increased its exposure to Innovaero Technologies (ASX: INN) by taking part in its IPO, having already held the stock as a pre-IPO investment. Innovaero listed on the ASX on 22 September 2026 and was a strong contributor to fund returns. Firetrail notes the business is at an early stage but is enthusiastic about its prospects. Innovaero is an Australian manufacturer of loitering munition drones for defence and has a contract with the Advanced Strategic Capabilities Accelerator (ASCA) to design and develop its One-Way Loitering (OWL) drone range. ASCA's role is to speed up the delivery of asymmetric capabilities to the Australian Defence Force. Firetrail expects the current contract, worth about A$25 million, to grow to more than A$200 million a year within three years.

Monthly Report, price recorded $0.43

First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 1 managers first commented on INN.

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About Innovaero Technologies Limited

Industrials, Aerospace and Defense

Innovaero Technologies (ASX:INN) is a newly listed aerospace and defence company that has drawn early support from fund managers. In September 2026, Firetrail Investments reported that Innovaero was a strong contributor to its fund returns after the company listed on the ASX on 22 September. Firetrail had held the stock before the IPO and also took part in the float. While Firetrail acknowledged the business is still in its early days, it said it was enthusiastic about its prospects, pointing to the company's defence drone contract work. Innovaero operates in the Industrials sector within the Aerospace and Defence industry, and Thesis Tracker has captured 1 comment from 1 fund manager, Firetrail Investments. Founded in 2006 and headquartered in Kardinya, Australia, Innovaero designs and manufactures uncrewed aerial systems, including electric loitering munitions and turbojet one-way effectors, and provides aircraft maintenance, repair and overhaul services. It was formerly known as Aerovation Technologies.

Market cap: $57m
Return on equity: -667.8%
Dividend yield: 0.0%
Net margin: -58.8%
52-week range: $0.32 to $0.53

Company figures as of 28 Oct 2026. For information only.

Questions

Who is investing in Innovaero Technologies Limited (ASX:INN)?

Fund managers including Firetrail Investments have invested in Innovaero Technologies Limited (ASX:INN).

What opportunities or catalysts do fund managers highlight for Innovaero Technologies Limited?

Firetrail Investments highlights Innovaero's contract with the Advanced Strategic Capabilities Accelerator (ASCA) to design and develop the One-Way Loitering (OWL) range of drones. ASCA's role is to speed up the delivery of new capabilities to the Australian Defence Force. Firetrail expects the current contract, worth about A$25 million, to grow to more than A$200 million a year over the next three years.

What are the key risks to the Innovaero Technologies Limited investment thesis, according to fund managers?

The available fund manager commentary does not set out specific risks. However, Firetrail describes the business as early stage, and its growth outlook depends heavily on the defence contract scaling as expected.

What does Innovaero Technologies Limited (ASX:INN) do?

Innovaero Technologies Limited designs, develops, manufactures, and commercializes aircraft products and drones in Australia. The company provides uncrewed aerial systems (UAS), including electric loitering munitions and turbojet one-way effectors. It also provides aircraft maintenance, repair, and overhaul services. Innovaero Technologies serves the defense and aerospace industries. Formerly known as Aerovation Technologies Pty Ltd, the company changed its name to Innovaero Technologies Limited in June 2026. Founded in 2006, it is headquartered in Kardinya, Australia.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

12,134 comments from 167 managers on 774 companies, snapshot 27 Oct 2026.

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