DroneShield shares rocket on new APAC contracts
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More news: DroneShield shares rocketed at market open after the anti-drone systems provider announced five new contracts with an unnamed military customer in the Asia Pacific region, worth a total of $32.2 million.
DroneShield shares were up 15.2% to $1.03 at 11am AEST, taking gains since the start of the year to nearly 35%.
DroneShield seals $32.2m in new Asia Pacific contracts
The news: Anti-drone tech company DroneShield has secured a package of five repeat contracts from a "close military ally of Australia" in the Asia Pacific region, totalling $32.2 million.
The numbers: DroneShield said the five separate contracts came through an in-country reseller for delivery to a military end customer in an unnamed Asia Pacific country.
The company has previously received seven standalone contracts from this reseller for the same customer between May 2024 and January 2025, totalling around $12.3 million.
The context: DroneShield, which provides counter-drone equipment, said the reseller is a wholly owned subsidiary of a multibillion-dollar, publicly listed customer.
DroneShield will provide both vehicle-mounted and fixed counter-drone systems for the customer, with delivery and payment expected through the second and third quarters.
In January, the company announced an $11.8 million, multi-contract deal with the same APAC country, to help counter the threat of Chinese drones.
What they said: "In close succession to the earlier order announced on 29 January 2025 from this sophisticated customer and a close military ally of Australia in the Asia Pacific region, DroneShield products are again meeting the challenge set by them," said DroneShield CEO Oleg Vornik.
The source: ASX
