They don't release the revenue breakdown by half by division,...

They don't release the revenue breakdown by half by division, nor do they breakdown gross profit by division (half or full year), but based on high level guestimate, this half is not travelling too badly (on the assumption that Technology division services are much higher than spare parts).

What Scott's details show is that they should book revenues of ~$30m (if they deliver all the orders they have announced to date), and should have a gross profit of ~$12m so based on expenses (excl commission) running at ~$10m for each 6 mths, they should be profitable.

2H24 is still an unknown, but if we assume that the run rate of the ballistics department if $2m per month and add the SUAS services and parts contract revenues they signed, then again they have ~$14m in revenues as it stands. Still a long way from hitting that $89m last year, but nevertheless the bulk of that Tech division revenues was low margin sale as an agent......but again that secured the services and parts contract, so if they can continue to expand their 'fleet', it should lead to more 'recurring' support and parts revenues.

	FY2021	FY2022	FY2023	1H24	2H24	FY2024
Ballistics Division	16.1	47.0	52.7	21.2	12.0	33.2
- run rate				12.0	12.0	24.0	2m per mth run rate
- additional orders				9.2		9.2
Technology Division	12.1	11.1	36.7	8.5	2.0	10.5
- Services				1.0	2.0	3.0	$15.9m over 48 mths
- Spare Parts				7.5		7.5
Grant Revenues	0.1	0.1	0.0			0.0
Total Revenues	28.3	58.2	89.4	29.7	14.0	43.7
Gross Margin - Ballistic Division				10.6	6.0	16.6	50%
Gross Margin - Tech Division (Services)				0.5	1.0	1.5	50%
Gross Margin - Tech Division (parts)				1.1	0.0	1.1	15%
Total Gross profit				12.2	7.0	19.2