DroneShield (ASX:DRO) bags $2.2m in orders for handheld Counter-UAS systems

• DroneShield (DRO) receives two orders totalling $2.2 million for a number of its handheld systems, including the recently-launched DroneGun Mk4
• The orders came from the US Department of Defence and another US Federal Government agency
• DroneShield US CEO Matt McCrann says the company is “pleased to be working with these leading government customers as they commence to build out their C-UAS capability”
• The Sydney-based company said payment for both orders is expected in Q3 2023
• Shares in DRO are up 0.82 per cent to 31 cents at 10:38 am AEST

DroneShield (DRO) has received two orders totalling an estimated $2.2 million for a number of its handheld systems, including its recently-launched DroneGun Mk4.

The Sydney-based counterdrone specialist confirmed the orders came from the US Department of Defence, as well as another US Federal Government agency.

DroneShield US CEO Matt McCrann said the recent orders of its handheld Counter-UAS solutions highlighted the company’s commitment to developing products that could be applied to various mission sets.

“As the C-UAS market continues to rapidly grow, fuelled by the use of drones in Ukraine and the evolution of drone technology in warfare, DroneShield is seeing record demand for its solutions,” he said.

“We are pleased to be working with these leading government customers as they commence to build out their C-UAS capability.”

The company said the payments for both orders were expected in Q3 2023, after delivery. With that being said, the full order includes an upfront product purchase and SaaS elements.

Shares in DRO were up 0.82 per cent to 31 cents at 10:38 am AEST.