- DroneShield (DRO) secures a record-breaking $33 million order from a US Government agency
- The Multi-year deal includes supplying DroneShield equipment and services
- DRO expects a substantial increase in revenue this year, following record revenue in 2022
- Shares were up 22.64 per cent trading at 32.5 cents at 1:50 pm AEST
DroneShield (DRO) has announced a new $33 million contract for its anti-drone and drone detection technology from an undisclosed US Government agency.
The contract encompasses the supply of DroneShield equipment and services over several years.
“We’re honoured to receive this award and support our valued customer,” DroneShield’s US CEO Matt McCrann said.
“This achievement reflects their trust in DroneShield and our effective solutions.”
“Looking ahead to the future, the company is excited to continue supporting and expanding its business as it progresses into 2024 and beyond.”
The company will receive full payment for the order before the end of 2023, as Droneshield enjoys another record-breaking year.
This recent contract follows a $9.9 million order announced earlier this month, received from another customer within the Five Eyes community.
DroneShield’s order backlog includes committed orders in the process of fulfilment and stands at an all-time high of $62 million.
The company’s current pipeline comprises over 80 opportunities, totalling more than $200 million.
With this latest contract and strong momentum, DRO looks to expand its market presence and deliver further value to its stakeholders.
DRO was up 22.64 per cent trading at 32.5 cents at 1:50 pm AEST.