DroneShield announced it has received an all-time record purchase order for approximately A$11 million. The order includes several different types of DroneShield counterdrone/C-UAS equipment. A substantial part of the order is expected to be delivered shortly, with the remainder in late March 2023. The A$11 million corresponds to the combined value of both phases of the project. Payment for each batch is expected to be received within a month of each delivery. The proceeds are expected to be received across March and June 2023 quarters.
DroneShield CEO, Oleg Vornik, commented: “With this transformational next step in DroneShield’s growth, and as the counterdrone industry continues to rapidly grow, we look forward to rapidly fulfilling this contract. From the start of the Company 7 years ago, DroneShield has demonstrated a consistent progression, first by building and then refining its product suite along with global distributor network, then moving to customer demos, followed by initial smaller sales, repeat $1 million+ sales, and now moving into $10 million+ sales territory. Over last 24 months, we have made a significant investment in scaling our operations, to ensure we continue to meet delivery expectations of our customers as we rapidly scale up.”
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