Join our daily newsletter At The Bell to receive exclusive market insights
- DroneShield (DRO) has received a $3.8 million contract with the military of a Five Eyes country
- Roughly $2 million of the contract is expected to be received in the June and September quarters.
- The Five Eyes is an intelligence-sharing alliance consisting of Australia, New Zealand, Canada, the United Kingdom and the United States
- This order follows on from a $1.1 million Five Eyes contract from early April and a $500,000 initial trial purchase made last year
- Shares in DroneShield are up 9.09 per cent on the market this morning and are trading at 18 cents
DroneShield (DRO) has received a $3.8 million contract with the military of a Five Eyes country.
Roughly $2 million of the contract is expected to be received in the June and September quarters.
The Five Eyes is an intelligence-sharing alliance consisting of Australia, New Zealand, Canada, the United Kingdom and the United States.
This order follows on from a $1.1 million Five Eyes contract from early April and a $500,000 initial trial purchase made last year.
The company is expected to receive the full payment for this contract in the June quarter.
Sydney-based DroneShield specialises in electronic warfare, artificial intelligence, sensor fusion and machine learning.
Its products are regularly used in the military, government, critical infrastructure and law enforcement.
“This contract is testament to the world leading capabilities of the DroneShield team,” CEO Oleg Vornik commented.
Shares in DroneShield are up 9.09 per cent on the market this morning and trading at 18 cents at 10:42 am AEST.
