DroneShield shares lift on US Department of Defense deals
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More news: DroneShield shares gained after the anti-drone company signed two new contracts with the US Department of Defense worth a combined $7.9 million.
Shares were up 3% to $3.24 at 1:15pm AEST, having surged 173% over the last 12 months.
DroneShield secures $7.9m in new US government contracts
The news: Counter-drone technology manufacturer DroneShield has signed two new contracts with the US Department of Defense totalling a combined $7.9 million.
The numbers: DroneShield said the deals take the company to more than 4,000 systems sold worldwide.
The context: The company expects to deliver all the equipment, which include handheld counter-drone systems, in the fourth quarter of 2025.
DroneShield has previously received standalone orders from the US Department of Defense.
What they said: "These repeat orders strengthen DroneShield's position as a trusted provider of mission-critical solutions to address the growing challenge of drone threats on the modern battlefield and the civilian sector," the company said in an ASX release.
The source: ASX
