DroneShield shares rise on revenue jump, CTO appointment
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More news: DroneShield shares lifted after announcing the appointment of new chief technology officer Angus Harris, and reporting a record quarterly revenue of $92.9 million.
Shares were up 4.4% to $4.79 at 11:20am AEDT. The stock has retreated from a high of $6.60 earlier this month, but is up 526% this calendar year.
DroneShield appoints new CTO, reports record quarterly revenue
The news: DroneShield’s chief technology officer Angus Bean has moved into a chief product officer role, with vice president of software engineering Angus Harris set to move into the top role.
The company also announced its Q3 FY25 earnings result, posting a record $92.9 million revenue, passing the $38.8 million record posted in Q2 FY25.
The numbers: DroneShield also announced secured revenues of $193.1 million in committed revenues in the year to date for 2025.
SaaS revenues in the September quarter came in at $3.5 million, up from about $700,000 in the previous corresponding period.
The company also hit its highest cash receipts of $77.4 million, beating the previous record of $47.9 million in Q4 FY23.
Operating cash flow for the quarter came in at $20.1 million, higher than the cash outflow of $19.4 million in the previous corresponding period. DroneShield said it is “targeting to be consistently operating cashflow positive and profitable moving forward”.
The context: Harris has been at DroneShield since May 2025 and has previously held roles at data analysis software provider Tiliter and defence industry multinational Thales.
Bean had been serving as CTO since November 2018 and was concurrently chief product officer since January 2025. He first joined DroneShield in October 2016.
Demand for counter drone technologies has been growing as drone technology becomes increasingly used in warzones and amid broader deteriorating geopolitical situations.
During the quarter, DroneShield announced two new contracts with the US Department of War worth a collective $7.9 million and plans to expand research and development operations in the US. Plans for R&D expansion in Adelaide were also announced in October.
What they said: “Bean’s appointment as chief technology officer adds to the senior talent bench and positions the company to deliver the next generation of counterdrone solutions, especially as the Company is seeking for SaaS to grow substantially as a proportion of its revenue,” DroneShield chief executive Oleg Vornik said.
