DroneShield announced it has received two orders totalling approximately $2.2 million for a number of its handheld systems, including the recently launched DroneGun Mk4 portable drone countermeasure product.
The orders were received from the U.S. Department of Defense and another U.S. Federal Government agency. Payments for both orders are expected in 3Q23, following delivery. The full order includes an upfront product purchase and SaaS elements.
DroneShield’s U.S. CEO, Matt McCrann commented, “The recent orders for DroneGun Mk4 and our other handheld Counter-UAS solutions validates our commitment to developing products with the end user in mind; intuitive and easily adopted into various missions sets. We’re proud to support these groups and their requirements, and to continue to build the relationship and problem solve with them. As the C-UAS market continues to rapidly grow, fuelled by use of drones in Ukraine and evolution of drone technology in warfare, DroneShield is seeing record demand for its solutions. We are pleased to be working with these leading government customers as they commence to build out their C-UAS capability.”
DroneShield also announced it has successfully completed delivery of the all-time record purchase order of approximately $11 million for a government agency customer announced on 21 December 2022. The delivery timing was in line with the original delivery timetable. A substantial deposit for this order has been received in January and reflected in the 1Q23 cash receipts, with the balance payable 30 days after this recently completed delivery, to be reflected in the 2Q23 receipts.
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