DroneShield’s Advanced Drone Detection Technology Earns $11 Million Order

DroneShield has received a new purchase order worth approximately AUD 11 million from a government agency customer. The order includes various types of DroneShield counterdrone equipment and is expected to be delivered by mid-2023. The proceeds will be received in the March and June quarters of 2023, subject to obtaining necessary export approvals. This follows another AUD 11 million purchase order from a different government in December 2022. DroneShield CEO Oleg Vornik commented that the company has reached an inflection point and is ready to handle the increase in supply chain, production, and deployment that this order will require. The purchase includes an annual subscription component, contributing to the company’s goal of generating annual recurring revenues. DroneShield has also recently secured several other wins, including a recommendation by the Joint Counter-small Unmanned Aircraft Systems Office, a Small Business Innovation Research project award, and deployment at the first US airport, among others. In November 2022, the company received a AUD 3.7 million investment from Epirus, a US defense technology company.

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