To justify the share price, the full year cash revenue needs to...

To justify the share price, the full year cash revenue needs to come close to $100 M.

At the halfway point it has $25 M but the company said the revenue would be back ended and this contract seems to bear that out (as did last year). However, the proof in the pudding comes in 3 weeks when DRO releases its Q3 cashflow. To my mind the market would be looking for a figure around the $25 M mark for Q3.

I'm a bit cautious on that because this is the only big deal we've seen this year, and the $20 M+ deals that DRO used to talk about have not materialised, though they have done fairly well with signing small deals. My preference would be to see a lot of small deals to avoid the dependency on the US government.

One of things that also worries me about DRO's products is that there is no shoot down option. That makes them vulnerable to competition and limits their ability to stop high speed drones that could potentially shutdown a km from the target and have their momentum carry them to it. They'd lose some accuracy but with drones being so cheap, a bit of saturation is likely to cover that off.