- Droneshield (DRO) has received a follow-up order from a major intelligence government agency
- The order is from one of the countries of the ‘Five Eyes’ alliance, which consists of the U.S., Canada, Australia, the U.K. and New Zealand
- The sale is for approximately $400,000 and is the second order from the same customer
- The previous order was for $900,000 and was announced in October
- DRO is up 5.88 per cent in early trade to 18 cents per share
Droneshield (DRO) has received a follow-up order for its DroneGun Tactical hand-held counter product from a major intelligence government agency.
While not specifically naming the country, DRO announced the order is from one of the ‘Five Eyes’ alliance, which consists of the U.S., Canada, Australia, the U.K. and New Zealand.
The order is for approximately $400,000 and is expected to be filled and paid for in the first quarter of 2021. Importantly, it is the second order from the same customer, following a $900,000 order announced in October.
Sydney-based Droneshield specialises in electronic warfare, unmanned aircraft systems (UAS), artificial intelligence and machine learning, and aims to help governments protect their military, law enforcement, critical infrastructure and VIPs throughout the world.
Droneshield’s CEO, Oleg Vornik, says the order “demonstrates adoption of our products at a mature sales cycle level, where ongoing repeat orders of meaningful scale start to occur.”
“DroneShield is moving to a subsequent phase of ongoing sales without the requirement of testing and evaluation prior to each sale, as our products become the standard for counter-UAS technology among leading Government agencies globally,” he continued.
The sale is subject to relevant export approvals.
DRO is up 5.88 per cent in early trade to 18 cents per share at 10:48 am AEDT.