DroneShield shares jump on quarterly revenue boost
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More news: DroneShield shares advanced in morning trade after the defence tech play more than doubled its first-quarter revenue year over year.
DroneShield shares were up 3% to $1.19 by 11am AEST, extending gains of more than 50% since the turn of the year.
DroneShield doubles Q1 revenue, considers 'value-add acquisitions'
The news: Anti-drone systems provider DroneShield reported revenue of $33.5 million for the first quarter, more than doubling its total for the same period last year.
The numbers: It marked the company's best quarterly revenue result, 102% higher than the prior corresponding period.
DroneShield noted that it already has $94.4 million of revenue either received or committed in purchase orders for 2025 delivery, compared to $57.5 million achieved in 2024.
Meanwhile, revenue from DroneShield's software-as-a-service business roughly trebled to $1.67 million, with the company expecting the segment to "surge significantly" from 2026 when new products are introduced.
The context: DroneShield said that its cash balance of $196.8 million will allow for ongoing investment in the business to enable growth in the counter-drone sector, attracting high calibre employees, and considering "value-add acquisitions".
Last week, the company's shares surged after it announced five new contracts with an unnamed military customer in the Asia Pacific region, worth a total of $32.2 million.
The source: ASX
